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Can I get a commercial loan without 25% down?
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Can I get a commercial loan without 25% down?
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Mentor
If you’re asking your spouse for help with any task, and they don’t take your request seriously, that sounds like a much larger issue that is completely unrelated to rental properties
Seems as if you’re missing the point. There are a ton of things in a marriage that pop up that I didn’t “sign up to do”, but I will step in to help (if I can) if the task is not insurmountable. This task is not insurmountable. The argument here is not whether she agreed to do it initially or not, it’s her unwillingness to step in and help her partner with this very basic ask. Yes, if you want to get into semantics, she did not explicitly sign up to be a property manager. But she could *should* be able to handle menial tasks if her partner is swamped. Or speak up and suggest that they cut it loose.
This entire thread is a discussion that SPM1 started, commenting that her unwillingness to help signifies a deeper issue. C’mon lawyer.
My wife was very specific that she didnt want to be involved in the RE investment. She doesn't participate (except sometimes).
If your wife didnt sign up to be a property manager / isnt interested in it id say just go third party.
Is she a stay at home wife?
If I asked she might, but I saw how much she hated having to manage her parents rental (they live in another country and asked her to manage their property here until they sold) and this was my property before I met her so she has no reason to participate.
I manage it myself (I am the wife). My spouse will help me with minor tasks like being at the house for a repairman if I ask him. He has zero interest in being a property manager and thankfully it’s been very low maintenance so far.
I was in similar position - my husband was totally not interested and i had built it upto 3 properties single handed. And when we separated- he got one of those as his and is using it as a primary home and I kept the other two. I know from experience that you can not force someone to do something they don’t want to.