For us it's a huge factor, and no I could not do this alone, and neither could he. As a team, we help each other focus on what our strengths are, give encouragement where needed, and lean on each other. But we are in this as a biz now, and rely on the income to live!

To be honest, I was no more interested in getting into the rental biz that I was in moving to NC, but here I am and there we are...

But one rental, sure you can do it alone. But it rarely stops at one, once you get the bug...

Is your spouse "dead set against it" or "just not interested"? There is a difference there too.

I don't think my wife really was "interested" but went along. I pretty much do the majority of everything but she is there for support. By this I mean I locate and screen the tenants, find the contractors, do any of the work, get the phone calls, emails, texts, etc.

She is there (always) giving me advice when needed, and the emotional support. A few years ago she was let go from her job and we went searching for a multi-family so she wouldn't have to go back and find a day-to-day job working 8-whenever.

We found one that we both liked in good shape. This property is "hers" (I have to keep reminding her that it is) both of us own it though ... but again - I am the one that is doing the above mentioned "fun" stuff - killing bees, fixing drains, etc.

She likes the "passive income" that it provides and allows her to "work" (help) in the office when she wants (which actually she LOVES).

This could cause a huge split in your family unit.

My husband and I bought a lot of investments, but he wanted to flip them, while I wanted to rent them out. They weren't worth enough to flip, or even come out even after the market flop. That was scary. Many times we've wanted to throw in the towel.

My husband has great management and people skills, whereas I'm the researcher, behind the scenes type. Both of us like to stay busy. Being together in this business, has both its rewards and punishments. When it's bad, though, I can't imagine how much harder it would be for one if the other wasn't on board. There's a trickle effect anyway, so your SO would be affected whether or not that was your intention.

I agree the main question is, "dead set against it" or "just not interested".

If "dead set against" then you are fighting an uphill battle. Rentals cost money, sometimes money you don't have at the moment. A person who can't see the big picture or is frightened by risk will freak out. Also there are times this is a 7 day a week job.

Just not interested is something that can be overcome once the benefits can be shown.

I already had my rentals when I met my SO. I RARELY asked for any help with them (my problem, not his), but a few times he would volunteer to help with something.

Fast forward 12 years, he sees the headaches but he also sees the benefits. I would not have survived the downturn in the economy had it not been for the rentals.

This year he bought 5 units!! I am managing them, of course. ;) He realizes that this is the best shot we both have for a reasonable retirement. Esp since one of mine is paid off, and 2 more will be in 7 years.

Is your spouse okay with throwing you a pile of money, and telling you to have at, but don't get them involved?

It's much more helpful if both of you are on board. There are a few elements: the purchase; the renovation/maintenance; the legal stuff; the tenant management; the paperwork. The more the both of you can do in-house, the less of your profits you need to divert towards other people, and the more quickly your biz can start being self-supporting.

Even when both people are involved, there's usually a line drawn as to how much of our personal assets one party is willing to donate to the cause. Like, when I needed to pay the plumber, the electrician, Lowe's, the mortgage, and the insurance on a current renovation-- and I didn't have enough in savings to cover an unexpected bed bug heat treatment. Guess where that money came from. And guess who wasn't pleased. :(

Money is usually a major cause of stress in any marriage. If you have good communication, excess funds in the bank account that are just gathering dust, and cool heads, you can probably have a good shot at success. But if your husband is actively opposed to the idea (rather than just being a neutral-mehh), you might consider something like a real estate investment club, and settle for the less-control and less-profits in exchange for opening that door just a tiny crack.

I started alone and my wife go into the mix later after we owned a couple of SFH. Now they are our main source of income and I could not continue without her help.

I wanted a multifamily since my adult daughter got her first apartment in 2010. I could not believe how much she paid for a horrid little studio. It was easy to see that the converted old house in the older part of town was bringing in the big bucks.

Like cjl and Blue, my spouse is not involved in the daily affairs, but she supports my efforts. It makes sense: she's not into wheeling and dealing or busting on folks who fail to pay rent. I love it. She will do things like drop off copies of the lease or run over to unlock a place if someone has a lock-out (mainly because I pay her for it!) and she'll help me research deals online because she likes hunting for stuff. We each have our strengths and assign tasks that fit to the person best able to do them.

In case you are not aware, there is a great resource available on this site on that very subject, which I believe could be extremely helpful to you. It's called - "Real Estate Couples Winning Together" -

Owning 1 or 2 rentals, in my opinion, is a no no. It's not worth the time and effort. You need to plan on quantity and for that you need help-- help that you can't get from a stranger.

I sort of disagree with you MYOB. Yes, more is better and spreading the risk and wealth around across multiple properties makes life MUCH easier to be sure.

But everyone starts somewhere. We started with one duplex that we thought we would rent until we retired to it in 20 years...That was in 2003. We were perfectly happy to let someone else pay for our house.

In 2004 we acquired another duplex, a quadplex, a property with another duplex and four cottages on it...and several more since then.

I think it depends as others have said whether your spouse doesn't want to be asked to do showings, paint, interact with tenants or wants nothing to do with it and will be upset with your time being taken up by the rental property. 2 very different scenarios. I take care of our rental properties, but especially in the beginning, I needed more support from my husband. On large turnovers, we look at the cost of painting and he can decide to give up his weekend and help or it gets hired out. We have made decisions in both directions depending on the cost and timing. In my opinion, you want to treat it like a business and stay on top of the laws.

Myob, we had rented out a few prior residences before selling. Some good experiences, some disasters because we didn't know what we were doing (rented to friends, etc.) YEARS ago and we really had no desire to be landlords.

When we started THIS project, our goal was simply to find property on the water to which we could retire someday. Prices were spiraling out of control (the bubble) and we thought, "If we don't buy now, we'll never be able to afford it!" So we settled on a duplex that would hopefully pay the mortgage through renting it...

Yes, you can do it on your own. With my DH, our arrangement has always been that he earns the money and I spend/invest it. Fortunately for him, I'd rather spend our money on property than consumer goods! It became a standing joke; any time I said, "Honey, can we talk?" he'd say, "Let me guess--you bought another house without me knowing?"

With another layoff pending, though, we've set a goal to use RE to retire in five years. Instead of me doing all the work, we're playing to our strengths. I'm good at tenant management and administrative stuff. He's good at negotiating and networking. So our plan is for him to handle the day-to-day of acquisitions and general contracting, and I'll manage the properties once they're ready to rent. Tune in in six months and I'll let you know how it's gone!

Goose3,

When men say "How can I get my wife involved?" they usually mean

"How can I get my wife to clean nasty rental toilets so I don't have to - so I can do the cool stuff instead." And wives see right thru that! so they back away saying things like "Oh no you don't!".

If you want to do this, get real training - get your bod to Jeffrey's Boot Camp. Newbie investors lose money and ruin marriages from lack of knowledge.

Explain your plan to her, set some $ limits, kiss her, and ask for her cooperation, NOT her help, "I want to try this. I think I can make it work." Include HER goal like "Honey, when we clear the first $500 I'm taking you to ______ for a nice sit down dinner with waiters and cloth napkins!" Then she'll say "We'll see."

Then bust your arz and make it happen. Pressure is ON!

Women crave security and MONEY IN FIST helps that. When she sees some real cash...she MIGHT do a little something to help out. Baby Steps!!

Too many husbands have tried scheme after scheme, usually poorly thought out and poorly managed, so they lost money.

Do NOT be partners with your drinking buddy or brother in law. Make it on your own and keep all the money!

Think of it like fishing. You go with your buddies, not on your anniversary! and come back when expected. Bring home some fillets and YOU cook them and serve them to her. Do NOT slap some dead fish on the counter and say "Gut these while I take a shower."

In our case I was doing MY business all by myself. I bought a few more and my job hours got longer, so she nicely OFFERED to deposit the rents at the bank, drop of a key, etc. Just ONE at at time.

Then she figured out I was not good at getting the bills paid on time (I had the money...I'll get around to paying them!) She saw some $25 late fees and snatched the checkbook off my desk and started paying the bills on time.

In the beginning I had zero knowledge and the few houses were break even, so no extra cash.

I came home one day and there was a new patio table and chairs on the porch. Nothing fancy, just your basic WalMart beginner set, $247. I said "Where's that come from?" because we were close to broke. She replied "I paid the bills, there was money left, so *I* spent it on what I wanted!" She was hooked!

Fast forward a few years, in the car headed to the airport to fly to Maui on a "tax deductible business trip" and she says "I still don't understand it. HOW do we make money?"

Start with training!

Get with your local assoc and make some contacts. As much as we talk about houses, this is really a people business and you'll need all the contacts you can muster.

BRAD

I have a different point of view.

I married my wife not a business partner. I just think working in the business together can blur the lines.

I have seen it go real good and real bad.

There is no right or wrong.

Happy wife - happy life.

If she isn't happy, will you be?