$70k in debt (50k low interest student loans, $20k credit card)
Married, no kids, living at in-laws rent-free but very quickly going crazy
Make about $150k pretax, 90k post tax.
$30k in liquid savings
Live in Southern California
I’m reading The House Hacking Strategy and it is striking a nerve down in the bottom of my soul somewhere that this is what we need to do in life to really progress forward in our long-term wealth and the amount of time I will be able to spend with my kids in the future.
My wife has entirely refused the idea of buying a duplex or getting a house with extra bedrooms and having roommates. She really doesn’t even see the point in having rental property period. How do I get her on the same page, make her see how powerful real estate and house hacking are, and value the future time we will have with our kids more than having a Mercedes emblem on the hood of her car?
I heard Brandon Turner mention that he offered to read any book of his wife’s choosing if she would read a book of his choosing, Rich Dad Poor Dad I think. Is there anything else I could do on top of this?
This might help.
If you're going to have kids, you'll probably want to provide for them as much as possible. Real estate is a great way to do that. As your parents age, their funds might run low. You'll be in a much better position to help them if you get your finances in order now.
Originally posted by @Nick Palmer :
My wife has entirely refused the idea of buying a duplex or getting a house with extra bedrooms and having roommates. She really doesn’t even see the point in having rental property period.
Does she give a reason why? Does she favor another plan to improve your financial situation?
Dealing with people's money scripts is very difficult. Tread softly.
Best of Luck with Your real Estate Investments!
Be like nike
just do it
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