How Do I Convince My Spouse That Investing Isn’t A “Get Rich Quick” Scheme?
You want to keep your marriage together, but you also want to invest in real estate – not always something that mixes well.
Here are my thoughts on the subject to help your spouse get on board with your dream.
You can watch it in this video.
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Read Transcript for “How Do I Convince My Spouse That Investing Isn’t A Get Rich Quick Scheme?”
“I’m totally sold on your “Push Button Automarketer” and other systems after looking on from afar for years. The trouble is my wife is not. ‘Another get rich quick scheme?’ She says. ‘Forget it.’ How do I sell her on you and your course so she will sign off on the money it takes to get started?” – Dave Wold
Joe: Well, I don’t know exactly how to convince her to do it. I do see her perspective. And I see this happen a lot where the spouse looks at their entrepreneur spouse and says, ‘Are you going to spend more money on learning how to do stuff? Are you going to take another class? Are you going to buy another get rich quick scheme? What’s going on? You’re going to lose more money. You’re going to take out another loan. You’re going to screw up your credit again.’
Joe: I see her perspective, especially if you’ve been doing it for a few years or a few decades and I know some of you have spent hundreds of thousands of dollars on training and not succeeded, so I can see their perspective why they might be hesitant to spend more money because they don’t think its going to work for you and its not something they would do.
Joe: Remember, only 3% of the world is entrepreneurial. We’re a very small portion of the world. We’re a very small portion of the population that think that it makes sense NOT to have a job, that it makes more sense to have your own business where you have control of your own life.
Joe: We all have that dream, and that’s why we’re here. That’s why you’re listening to this video. That’s what I did with my business and that’s what I created in my life, so that I could have the freedom, the control and the opportunities that you don’t get by working at a 40 hour a week job. Its just so much more fun to do it the way that we do it.
Joe: A lot of people don’t need the security over the freedom, and there’s always the battle between security and freedom. She may be feeling that her security is threatened when you take on expenses like this, whereas you are feeling that your freedom is being threatened and is under siege all the time because you’re working at a job that you hate or ties you down, the kind of job that even though you may like the job, it ties you down and so you’re trying to break away from that.
Joe: We can understand what her situation is, so what you’re going to have to do is show some results and maybe stop looking at some of the get rich quick schemes that promise you things that don’t make much sense. You want to go after things that don’t require your credit or cash and are not multi-level marketing.
Joe: I know there’s a lot of people that have made money in multi-level marketing, and I know there’s a lot of fans that like that, but I don’t believe in multi-level marketing – if you sit down and do the math on this, it doesn’t work very well unless you’re at the top of the pyramid; it’s a pyramid scheme.
Joe: Also, if you’ve done conventional real estate training, most of it teaches you how to go out and get a loan or how to go out and get private money or how to borrow money in order to do deals.
Joe: What I teach you is how to structure deals properly, how to use marketing that brings in the types of deals that you can actually structure in a way that doesn’t require your credit, that doesn’t require your cash, and will be a lot easier for you to do it.
Joe: Now, the other issue is she may think that you’re not going to do the work, that you’re not going to follow through, that you’re going to put it on yourself and then not follow through with it all. And I can guarantee you that if you don’t do the work, you’re not going to make a dime.
Joe: In my mentor program, I guarantee that everyone that comes into my mentor program will make money; I guarantee it. But I also guarantee that if you don’t do the work and don’t follow through with the stuff that I teach, you’re not going to make a dime. I tell everyone that comes into my program and I have this conversation literally with every single mentor student: ‘Give yourself three to four months before you can expect to make money with this program.’
Joe: I have people that make money in a week or two weeks but their the exception, not the rule. So give yourself the time so you don’t get discouraged – know that its going to take time to follow through with this process.
Joe: Now, it’s not going to take years – its not like going to college. I mean, its kind of like paying for a semester of college, its about the same expense, but its not like going to college where you have to go for four years and then have to go out and find a job or go out and build a business. Colleges are mostly designed for you to get a better job, not for you to learn how to build a business. So if you want to build a business, you need to learn how to build a business and that’s not something that’s normally taught at the university.
Joe: So if you’re going to learn this stuff and follow through with the process and give yourself 8 or 10 hours a week to devote to this, to give it a serious try – if you don’t have that 8 to 10 hours a week, don’t do it.
Joe: A lot of times, what happens is life gets in the way, and you get home and you’re tired from a long day at work, and you just want to sit down in front of Game of Thrones and relax and take some time to yourself and take a breather.
Joe: If you’re willing to put in the extra two hours a day, five or six days a week, you’ll be fine; you’ll be able to make money at this, and it will change your life. When you start making a regular income like this, it doesn’t take long before you can replace your income.
Joe: If you’re making $50,0000 to $100,000 a year, it doesn’t take that long to replace that kind of income. If you’re making $200,000 or $300,000 a year (and I have students that do) then it takes a little bit longer to get up and running. But, during that time, you have a lot of freedom and suddenly you’re learning how to automate.
Joe: If you’re making that kind of money already, you already have some ideas on how to work with people, how to get people to work with you, how to automate processes, how marketing works, etc.
Joe: Most people that are in that kind of income bracket are already doing this kind of stuff so its easier for them sometimes to get up and running quicker, plus their idea of what a good income is is different than the idea of someone who’s making $30,000 a year. Their idea of it is, ‘Hey, I just hit $30,000. I’m doing great. I’m making $2,500 a month. I’m doing great.’ Or, ‘I’m making $60,000. I’m at $5,000 a month. I did one deal this month. I have to do one deal a month and it took me three hours to do that deal.’ And suddenly you slack off and that $50,000 is acceptable to you.
Joe: If you want to expand to $100,000 or $200,000 or $500,000, you’re going to have to know that, ‘I’m going to have to put in the extra work to make that happen.’ That takes some self discipline and it takes the willingness to do the work.
Joe: I also believe it takes a love of this process, and as you get into it and as you get better at it, you’ll learn to love it. I believe at the beginning, most people don’t enjoy the first things that I tell them to do, which is to get on the phone and talk to sellers and put deals together, and that can be a little uncomfortable at the beginning.
Joe: But once you get through that process, that four week to two month process – once you get through talking to 20 to 100 sellers and get that process done – and you can talk to probably realistically 20 sellers a week, making 20 offers a week if you’re working 8 to 10 yours a week at that process and you’re focused on that one task – if you do that, within four or five or six weeks, you’ll have talked to 100 people and you’ll be very good at talking on the phone – IF you keep going back to what you’re saying and saying, ‘What worked? What didn’t work?’
Joe: Or if you’re talking to me and we’re doing role plays in my mentor program, and I’m listening to you talk and I say, ‘Okay, why don’t you try this instead of this? Focus on this,’ etc. One little tweak sometimes can make all the difference when you’re in this process.
Joe: So anyway, that’s a long answer to how do I get my wife to let me do this. Really, its not about your wife – its about you having the confidence that you can do it and understanding how you’re going to get to that next level. Hopefully, some of the things that I just told you will help you explain it to her so that she can feel more confident that the way you’re doing it this time is going to work.
Joe: Also, you may not be in this situation but I know other people are in this situation where a husband will say, ‘Well, I just don’t want you to spend that money, honey.’ They’re very conservative, they’ve got a good job and they want you to stay home with the kids, but maybe that’s not your personality. Maybe that’s not what will fulfill you in your life.
Joe: It doesn’t mean you don’t love your kids – it means you want something different for your life, that your personality needs this kind of process and this kind of success to make you happy (to see that success) and the other things may be a little more boring to you.
Joe: So this is something that sometimes you just have to stand up and say, ‘I’m going to do this. I’m going to follow through with this. Please stay with me, honey. Please stay with me because I’m going to learn this process and whether I learn it this week or this year or this decade, this is where I’m going with my life, and I want to be with you but I also know that I have to follow through with my life as well,’ and they have to accept that in you.
Joe: Obviously, I cant tell you how to run your relationship or your life in those senses, either, and I’m not just talking to you, Dave – I’m talking to everyone, myself included – we have to make a decision about how we’re going to live and what’s acceptable in our lives in order to be able to share that with somebody else. Anyway, I hope that helps. Thanks.