All Forum Posts by: Joshua D.

@Eric James Yes i sure did lucky. Got someone else right in there also and doing remodeling work for next to nothing.

@Jim K. Yea wife got into my stuff i guess. Whats up?

Hi all, this is his wife.

Upon proposing the above scenario, he promptly told me that I've been "given" money my whole life (money that, apparently, is only a problem when I've decided he can't live off of it anymore) and that I can go f*ck myself, and that he is "going to bed."  

From my position, I'm not asking anything outlandish and I am just tired of feeling like I am funding someone else's lifestyle. A person who, as you can tell from his replies, is also very disrespectful to me and unappreciative 99% of the time.  He constantly talks about how little I do, how I have a cake family job, on and on. Yet I am the one at work, typing this right now, while he is at home, in bed, angry with me over me looking to change our financial arrangement right now. 

And, did I mention that I am 6 months pregnant? 

I think I'm starting to see, very clearly, that he may not want to contribute because, as I was beginning to suspect, I am being used for money. 

She buys little things a lot. Clothes for the new baby coming (she is 6 months pregnant, due in December with our first child,) and really enjoys shopping. Her credit card bill is in the $500-$650/month range from things she likes to buy, whatever they might be.

She also, in addition to her W-2 job, does all emails for the rentals, Quickbooks, insurance, etc. She does all the back end details for the rentals and I meet with contractors and keep the ball rolling on the construction side and maintenance side. 

Hi guys! Thank you all for your responses. You've given us a lot to think about and make changes on, and we greatly appreciate it. 

To answer everyone's question about the 7k/month net profit, what we've usually done is figure that we make $13,000/month gross rent, and we cut it in half to cover all bills, maintenance, utilities, and mortgage payments. Our mortgage payments are around $2600/month, so us cutting it in half probably gives us a little more room than half, but yes, the 7k is a safe number to say that is what we would have leftover at the end of the month, from just rental income alone. 

Here is what my wife has proposed. Take a look at our monthly expenses below:

-$100/month- gas

-$250/month- groceries

-$180/month- health insurance

-$55/month- truck insurance

-$478/month- truck payment

-$550/month- electric and heat (last month, we expensed this through the business, and are planning on doing that going forward. I figured since we work from home part of the time, part of this should be able to be used as a write-off.)

-$31/month- cable

-$11/month- netflix

-$8/month- hulu

-$10/month- amazon

-$650/month (average)- my credit card bill

-$235/month- my dirt bike payment 

Up until this week, my wife has been covering ALL of the above expenses, solely out of her $700/week paycheck. She also contributes $11,000/year, ($5,500 per person) to an individual ROTH IRA account, for each of us, in each of our names. This is also something she feels that I should contribute my own $5,500 to, instead of her paying for my contribution to.

Her proposal is that I should pay for my truck payment, truck insurance, gas, dirtbike payment and gas for my truck entirely on my own, out of rental income. This would be about $2000/month I'd reimburse her for.

Is her proposal reasonable?

@Will C. @Tom Eudaley  So the 130k property has 2 houses on it so rent them both out. 

Also we both had 16k saved up and first property we bought was 16k and worth 42k and refinanced it and honestly from there kept rolling the same method the brrrr method with alot better deals from there.

@John T. All of our properties are in an LLC that has both of our names on it. I do think she feels like I live off of her on the personal side, and it’s made her feel bitter.

@Joshua D. Im really just trying to do whats best for are future and retirement long term. I know what we have its amazing for are area and im a military brat didnt have anything growing up. Ive read book and went to seminars and watch webinars daily about money and all that. Just trying to watch out for us because to be honest. There is no doubt in my mind if was up to her like 99% of america we would live pay check to pay check and have nothing put away and buy liabilitys. Just trying to do what’s best for us. Tough though

@Brandi Petermann not really paying for it just saying do I sell a property to make a quick 100k to but that? No its not smart at all I would think. Also yea truck is 100% dumb she has just as of nice of a vehicle also.