STRATEGY
RELATIONSHIPS
Sustaining Partnerships 3 TIPS WHEN WORKING WITH YOUR SPOUSE IN REAL ESTATE INVESTING
by Arianne Lemire
may have a very small active role, but not always. They may or may not have much of an interest in the business. • The Chief Executive Officer (CEO) spouse: They work in the business and primarily oversee driving sales, growing revenue, and attracting new talent to grow the business. • The Chief Operations Officer (COO) spouse: They work in the business and are primarily in charge of keeping everything organized and fulfilled.
er and have grown a lot as a cou- ple and as business partners. But there were a lot of challenges along the way. Here are three tips I wish I knew seven years ago when we first started as business partners in the real estate investing space: TIP 1: BE CLEAR ONWHAT ROLEYOU’RE IN. THIS CAN CHANGE EVERYYEAR. There are three different roles spouse partners typically fulfill when it comes to real estate investing: • The owner spouse: They are not active in the business, they
eal estate investing is very rewarding. But the last thing you want to happen is to have all that success and lose one of the most valuable assets you have—your rela- tionship with your spouse. Throughout the last five years, my husband Chris and I have worked together in different real estate investing businesses: flipping, whole - saling, single-family and multifamily rentals, providing passive investors with multifamily investments (syn- dications/funds), and a wealth and passive-income coaching business. There were a lot of challenges, but the great news is we’re still togeth- R
44 | think realty magazine :: january – february 2022
Made with FlippingBook Online newsletter