Mortgage Before Marriage

By Alex E Edwards

Mortgage before marriage.

Finances before fiancé.

Rockafella before Beyoncé.

 

The fairy tales lied. Love isn't everything.

 

Love rarely survives long term without financial stability. More, love can't survive when one or both partners is a financial liability rather than an asset. This imbalance is

• Language: English
• Publisher: Mortgage before marriage Llc
• Release date: Feb 14, 2023
• ISBN: 9781955811354

Alex E Edwards

ALEX E. EDWARDS was born and raised in Dorchester, Massachusetts. As a child, he believed that having no food and low income was normal in every household, and that his struggles were just a regular part of life. Determined to change that dynamic, he purchased his first home at the age of 20, and after a few wrong turns and challenges, turned it into an income-producing asset.In 2009, he obtained his real estate license, and in 2015 he earned his Broker's license and founded Thumbprint Realty. Today, heis one of the world's most trusted brokers, and his commitment to helping others rise out of financial lack is a hallmark of his work.Mr. Edwards prides himself on his ability to connect with people of all ages and backgrounds, as well as his commitment to excellent customer service. He lives in the greater Boston area with his wife, Joanna, and their children.Learn more about Alex and his work at Mortgageb4Marriage.com.

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Copyright © 2023 by Alex E. Edwards

All rights reserved. No part of this book may be reproduced or used in any manner without the prior written permission of the copyright owner, except for the use of brief quotations in a book review. To request permissions, contact the publisher at [e-mail].

Disclaimer: This is a work of nonfiction. Nonetheless, some of the names and identifying character traits of people featured in the stories herein have been changed in order to protect their identities (including stories used with the subject’s full permission). Any resulting resemblance to persons either living or dead is entirely coincidental.

The publisher and the author make no representations or warranties of any kind with respect to this book or its contents, and assume no responsibility for errors, inaccuracies, omissions, or any other inconsistencies herein. The content of this book is for entertainment purposes only and is not intended to diagnose, treat, cure, or prevent any condition or disease, including mental health conditions. You understand that this book is not intended as a substitute for consultation with a licensed practitioner. The use of this book implies your acceptance of this disclaimer.

At the time of publication, the URLs displayed in this book refer to existing websites owned by the author and/or the author’s affiliates. WorldChangers Media is not -responsible for, nor should be deemed to endorse or recommend, these websites; nor is it responsible for any website content other than its own, or any content available on the internet not created by WorldChangers Media.

Hardcover ISBN: 978-1-955811-29-3

Ebook ISBN: 978-1-955811-30-9

LCCN: 2022923094

First Hardcover Edition February 2023

Cover design by Christian Jones / www.neilcreative.com

Design & Typesetting by Paul Baillie-Lane / www.pblpublishing.co.uk

Published by WorldChangers Media

PO Box 83, Foster, RI 02825

www.WorldChangers.Media

I will secure you

Keep you safe

I will keep you warm

On the coldest days

I will change with you

And keep your memories

Take care of me

I will grow your equity

I will pay for your kid’s school

Happy that I can help

To secure your future

By growing your wealth

Don’t leave me alone

Until your kids are grown

I will never forget the days

You called me home

Alex E. Edwards

Introduction

Why did I call this book Mortgage Before Marriage ?

Because love isn’t everything!

As someone who has both a successful business and a loving marriage, I wrote this book to help people, especially those who are single and entrepreneurial, come to realize that love can’t survive without finances.

In fact, money is one of the most-cited reasons for divorce. In 2017, Dave Ramsey’s Ramsey Solutions conducted a study of more than 1,000 American adults to understand how married couples communicate about and relate to money. The study found that the more debt a couple had, the more likely they were to fight about money—especially if that couple had more than $50,000 in consumer debt. Also, couples who said they had a great marriage were almost twice as likely to talk about money on a daily or weekly basis, whereas those who said their marriage was just okay or in crisis had fewer conversations.

For a marriage to thrive, the partners cannot be liabilities to each other; they must be assets. To be an asset to your partner, you have to be an asset to yourself first. You have to find wealth within yourself. You have to make sure you’re mentally, financially, and physically stable before jumping into a relationship. If you do not do this, you will become a liability, and it will not end well for you and for your significant other. 

I’m not saying you have to become a millionaire before getting married (although it’s okay if you do)—but you should be financially secure before getting married, and I believe making smart investments is the key to that. So, when I speak about investing in yourself and loving yourself, I’m simply saying: Make sure you know who you are and that you can take care of yourself. Make sure that, when you fall in love, you want that person, but you don’t need that person to survive.

This book is particularly meant to empower women to buy investment property and/or become financially secure before they get married. Historically, only men could buy property. A woman could take care of the house, run the house, clean the house, and take care of everyone in the house … but she couldn’t own the house. Today that seems absurd—and, fortunately, women’s homeownership rates are on the rise. However, there are still many women who don’t understand how to take what is rightfully theirs and achieve true financial independence.

When you put mortgage before marriage, you won’t need to wait for Mr. Right; Mr. Right will wait for you. You will not support your husband’s dreams and aspirations while forgetting all about yours. You will no longer be the supporting cast; you will be the superstar. You will put your finances first. You will put your business affairs first. You will put your dreams first, and most importantly, you will live for yourself.

According to a 2018 survey by the UK’s Debt Advisory Centre, 20 percent of women are in bad relationships they can’t afford to get out of, versus only 3 percent of men in the same situation. If you follow the advice in this book, that will never be you.

Real estate, and especially investment properties, can help provide excellent financial stability whether you are female, male, married, divorced, or separated. If you are not yet married, the information in this book will help you make the best choices around your personal financial stability, so you can fall in love and choose your partner for all the right reasons. If you’re already married, this book will help you stay in love by creating wealth and avoiding the financial stress that kills so many marriages.

How do I know all of this? Because I’ve lived it.

Why Mortgage Before Marriage?

I’m Alex E. Edwards, founder of Thumbprint Realty, real estate investor, and self-made success story.

My journey in real estate began when I purchased my first house at the age of twenty. In 2009, I was a freshman at MassBay College, majoring in business administration. One day, the professor gave us an assignment: we all had to purchase something and run it like a business. 

While some of my classmates bought knickknacks to sell on eBay, I went all in and bought a two-family house. Located in Dorchester, Massachusetts, it had six bedrooms, two bathrooms, and was listed for $389,000. Some people might have been nervous about making such a big investment, but I felt like the man!

The next day, I ran into class and told my professor the good news. He was so excited—but unfortunately, I had to cut his excitement short.

I said, Professor, I have more news. This is the last time you’ll see me.

Why? 

Because I can’t afford school and a mortgage! 

We both laughed—and with a look of understanding, he nodded. That was the last time I saw him. 

My excitement was short-lived because it turned out I wasn’t ready for the responsibility of owning this house. After months of attempting to run the property like a business, I failed tremendously. 

My first tenant was introduced to me by a friend of mine. She (the tenant) had more curves than the Daytona 500 and looked like she took good care of herself. Based on her looks and our mutual friend’s endorsement, I told myself, "She has to have good credit. She’ll pay her rent on time." So, I decided to move her in without screening her.

I didn’t receive one single payment from her! After going to court numerous times, I finally got her out. 

Within a year or two, my mortgage went up. (Can you say adjustable rate?) On top of that, I also had a second mortgage on the home, aka a junior mortgage, in the amount of $89,000. At this point, my financial health wasn’t looking so good. 

I’ve always loved to read, and so I turned to books that inspired me to make money, like Robert Green’s 50th Law of Power, Curtis 50 Cent Jackson’s Hustle Harder, Hustle Smarter, Robert Kiyosaki’s Rich Dad Poor Dad, and Jonah Berger’s Contagious: Why Things Catch On. I searched for examples of how other real estate entrepreneurs handled their financial troubles, and I realized some of the most successful businessmen in the world had filed for bankruptcy numerous times and yet were still worth billions. So, I looked into these practices and discovered this secret: some people would legitimately create an LLC to borrow money from the bank in the form of a loan, then file bankruptcy and keep the money!

This was my first big lesson in entrepreneurship: sometimes, you don’t always have to lie in the bed you made, because the law has provisions for those who know how to use it. I decided I had nothing to lose, so I filed for bankruptcy. It was my turn to use the loopholes that others had been relying on for so long. During the bankruptcy, I got to choose which debt I wanted to keep and which debt I didn’t—so, bye-bye junior mortgage!

Next, it was time to deal with the adjustable interest rate mortgage. Though sometimes an adjustable rate is the right way to go, it’s often like being in an untrustworthy marriage: you’re in love, you’re not in love, you’re cheating, you’re not cheating … there are a lot of ups and downs and uncertainties. One month the rate is low; the next, it could be too high for you to afford.

I believe in true wealth—and one way to get there is to buy homes and collect rent until you die. So, I prefer a fixed rate, just like I prefer a secure marriage.

I went to a nonprofit in my neighborhood called Codman Square Neighborhood Development Corporation (CSNDC), which specializes in loan modifications. Thanks largely to Lorraine Grubs, in a few months I had a lower, fixed interest rate mortgage. My mortgage payments went from $3,000 to $1,100 per month! I then used my 401(k) to fix the place up and added three bedrooms and two baths. 

Since I had already failed once at this whole investment thing, I knew I had to do a better job this time around. I teamed up with a nonprofit, Mass Mentor. The organization placed two renters in my unit, and the government paid the rent every month. I ended up making $4,600 per month off one unit and another $2,000 from the other. 

In this way, my failure and bankruptcy were the best things that could have happened to me.

Soon thereafter, I obtained my Massachusetts real estate license and began building a client base. Once I had my broker’s license, I decided to start my own brokerage: Thumbprint Realty. We don’t just list houses; we educate our clients. I’ve helped thousands of people—single women of color, in particular—to begin building wealth through smart real estate investments. Today, my clients and agents confidently say that I have the most trusted real estate brokerage in the world.

* * *

Most people are told that they should get married before they buy a home, but as we noted above, that isn’t always the best plan. In fact, when I met my wife Joanna, it was very important to me that she owned her own home before we got married.

We’d been dating for a little over a year when the subject of marriage came up. I knew I wanted to spend my entire life with her—but I also didn’t want her to be fully dependent on me financially. I said to her, Before you say, ‘I do,’ I need you to say, ‘I closed.’

When I said that, it created motivation for her to become a homeowner. Almost a year before we got married, Joanna became a landlord. She bought her first three-family home using NACA (Neighborhood Assistance Corporation of America) and had the opportunity to pay down her interest rate, making her monthly profit much