Chicago, IL · Member since 2016 · 2 posts · 0 votes
Hi All -
My wife and I have 100k saved and we live in the Chicago. My wife would like to buy a Condo in the downtown area that would cost us about 2k a month in mortgage payment with our savings. I would like to use this money to buy multiple Turnkey Properties that would hopefully get us around 2K in Cash Flow and then live in our same apartment that we rent at 1,800 a month. The hope is that I can keep purchasing properties with the money we gain from the Cash Flow from the Turnkeys. Our "disagreement" has brought me to the forums. Any advice on what people would do would be greatly appreciated.
Obviously I'm of the stance of buying the investment properties. Add in there too against the expenses of the personal house condo fees, if she's wanting a condo. That's going to be lots more expensive.
Lol...is your wife going to care if you get any supportive evidence saying that buying the investment properties is the smarter move though? Like @Account Closed says, happy wife, happy life!
My wife and I have 100k saved and we live in the Chicago. My wife would like to buy a Condo in the downtown area that would cost us about 2k a month in mortgage payment with our savings. I would like to use this money to buy multiple Turnkey Properties that would hopefully get us around 2K in Cash Flow and then live in our same apartment that we rent at 1,800 a month. The hope is that I can keep purchasing properties with the money we gain from the Cash Flow from the Turnkeys. Our "disagreement" has brought me to the forums. Any advice on what people would do would be greatly appreciated.
Thanks,
CG
You are going to spend $100,000. That probably took you a little time to save. Spending it on a condo that costs you money every month wouldn't be what I recommend. I suggest buying a property that makes you money every month.