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- 🏠Let's talk love and money ❤️ 💵
🏠Let's talk love and money ❤️ 💵
You’re ready to invest in real estate, but, there’s a small problem: your partner isn’t on board.
“If they call you shocking, scandalous, troublesome, problematic, provocative or dangerous, you are definitely on to something.”
- Madonna said while introducing Sam Smith and Kim Petras to the Grammy stage to perform “Unholy” last Sunday.
A note from the founder of The Weekly Real, Michelle Nemirovsky:
When you meet your person, you just know. I started dating my fiancĂ©, Federico, in August 2021, and things moved fast. We got engaged a year later, and a few months after that, we bought a house in Austin, Texas — site unseen! đźŹ
When we first got together, we decided to leave our apartments behind and go travel. We spent three months living in Argentina (Fede's home country) and since then, we've been living out of our suitcases in different parts of the world.
Iguazu Falls, Argentina
It's been a wild and unforgettable ride, but it hasn't always been easy. Trying to work when the Wi-Fi in South America is weak, or trying to eat healthy when everyone in Europe is sipping an afternoon aperitivo has been a challenge.
That’s why having a house, a place to hang our clothes and make memories, feels so special.
When it's time to buy, you just know. We spent two months in Austin before deciding to move here full-time. We were set on a living in a neighborhood with walkability and a park nearby, and Travis Heights ticked every box. After some negotiation, we finally found our fixer-upper and officially moved in last week.
Our new home is a cozy 3-bedroom, 2.5-bath with 1,200 square feet of space just waiting for us to put our personal touches on. We were going to wait to start remodeling, but we found contractors with an unbeatable price who said they could start ASAP (I know, red flag đźš©) but we decided to go for it. So far we've added a new kitchen backsplash, new tile in all the bathrooms and a fresh coat of paint throughout the house.
While we're far from done traveling — in fact, we'll be heading back to Argentina this Winter for our WEDDING — but now we know we always have a place to call home.
SPILLING THE (REAL)TEA
A luxury real estate broker abusing COVID-relief funds? They'd never. JK, they would! One woman scammed her way into $381,000, which she used on the necessities, like a lease on a Bentley, flights in a PJ, plastic surgery, and so on.
Chores + cleaning fees = more respectful Airbnb guests. At least that's how one host is defending the reason why she asks her guests to pay cleaning costs and take out the trash, strip the beds, etc.
You shouldn't be able to book a four-night stay at a whole Airbnb property in NYC. The city is cracking down on hosts who go against regulations that say you can't rent out a whole unit for less than 30 days.
There's a gaggle of woodpeckers drumming up trouble in the Bay Area. Pest control was called to remove 700 pounds of acorns from an Airbnb where a group of birds were stashing food for the future.
Airbnb shared the most wish-listed new properties on the platform. Including a treehouse in Nova Scotia, a lakeside cabin in Sweden, and tiny house in Vermont.
TIP OF THE WEEK
Invest in real estate they said. You'll make passive income they said.
If you're running an Airbnb property and realizing the gig is a little less passive than everyone made it out to be, then it's time to start automating. Here are three things you can set-and-forget, according to Entrepreneur:
A cleaning service — Whether you hire a company or someone you know, establish a system so your cleaning crew knows when guests are leaving and when the next guests check in.
A maintenance professional — Establish a relationship with a handy (wo)man you can trust to be on-call in case your guests report something broken during their stay.
Communication with both of the above — Streamline the way you contact your crew, whether that's through Slack or some other form of group messaging. Having one dedicated channel can ensure nothing gets missed.
WHAT'S BREWING
📚 What we're reading: "No Filter: The Good, the Bad, and the Beautiful" by Paulina Porizkova, a former model and face of Estée Lauder, who compiled her essays on womanhood at every age.
👀 What we're watching: These DIY gift ideas for Valentine's Day on TikTok: Photobooth card, heart-shaped gift box, "I ❤️ U" message box, sweet little "candies"
🎧 What we're listening to: The New York Times' The Daily podcast, which this week covered San Francisco's abandoned office buildings in "The Most Empty Downtown in America."
đź›’ What we're adding to our shopping cart: These Valentine's Day gifts for the home decor lover in your life:
SECLUDED SANCTUARY
Ever just dream of leaving civilization behind? This couple decided to do just that — building a $62,000 sustainable tiny home in the Blue Mountains near Sydney, Australia. Take a look inside.
LOVE & MONEY ❤️ 💵
You’ve done your research, you’ve saved up for a down payment, and now you’re ready to jump-start your real estate investing venture. But, there’s a small problem: Your partner isn’t quite on board yet.
Whether it’s the timing, money, or commitment that’s holding them back, if you want your partner’s approval, we have the tips that will help you convince your S.O. that this could be one of the best steps toward financial freedom you’ll take together.
1. Show your partner where you need their talents
Everyone loves a bit of flattery. Make a list of your partner’s strengths and how they would translate to your real estate investing business. Maybe decorating an Airbnb would be an outlet for their creativity; or they're talented with numbers and would find the reading through contracts satisfying; or they love working with their hands and a house flip would allow them to put their carpentry skills to use. No matter their expertise, make a point to show your partner their skills are an absolute necessity in the real estate game.
2. Have the money convo
It may be an uncomfortable conversation at first, but discussing any hesitations surrounding money is an inevitable conversation you’ll need to have with your partner — whether they’re 100% in or still on the fence. Do your own math before you present any opportunities to your partner — that way you are prepared to answer any questions they might have about their own fiscal contributions. In addition to knowing the initial upfront investment needed, also make sure you have an idea of the potential ROI and timeline for when you’ll start to see that income.
3. Map out a schedule
Prove to your partner this isn’t a spur-of-the-moment idea with a detailed timeline for what action steps you both need to take to make it happen. It could be a year from now when you’ve both saved up enough money, or it could be something you plan on pursuing this month, but either way, having a schedule will show you’re serious.
You’ll also want to think through the time commitment an investment property will require down the line. If it’s a short-term rental property, who will be in charge of responding to guests’ questions during their stays, marketing the property online to attract future visits, addressing maintenance issues as they arise, and beyond? Delegate these tasks and consider whether or not it’s realistic for the two of you to manage. If not, you might want to consider hiring a property manager or renting out the property to a long-term tenant so you can be more hands off.
4. Establish work-life boundaries
A healthy work-life balance is important for any romantic relationship, but it can be especially hard not to bring business matters home with you when you and your partner work together. Establish boundaries from the jump. Maybe at 5 p.m. every day when the laptops close there are no more business-related conversations. Or, you make a promise not to let work-related tiffs carry over into the relationship and vice versa.