Staying focused
- Seeking advice on an emotional roller coaster. I'm 27 yrs old I have an wife 2 kids an my step daughter. 2 years ago me an my wife fiancée at the time was renting an home for 550$ an month 3 Br 2 bath 1580 sq ft. I was always intrigued in real estate my dad is an contracter an my uncle owns properties like 12. So I know I always wanted to be in the buisness is was just a matter of time of when so oneday on my way to pay the rent I called my landlord an ask can we talk on my way in he said yes so the idea came in mind to ask to purchase the home I ask an he replied yes, so we purchased the home for 15k. So after purchasing we did some cosmetic work like floors an painted,so oneday wife started to go on and rant that lasted for months about how small the house was getting for all 5 of us. Which I underst but we was living rent free,carnote free that was all in my plans to continue to save to buy rentals.but eventually the rant got the best of me an so on dec 24 we closed on an property that is our home now that we got for 108k the idea of seeing my wife an kids happy was great but I cried down inside of the idea that the 9k I will be spending an year now on mortgage could have been put into the REI account but the family got the best of me.The propety at 15k is now rented for 565$ an month I have tenants an have received 2 rent checks so fair an the feeling is great. Sorry about the long post but with me acquiring an mortgage but still have passive income from the 15k property am I still in good standings to buy more or did I hurt my buisness plan an bit by that move??? Plz reply thanks