Skip to content
×
PRO
Pro Members Get Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
$0
TODAY
$69.00/month when billed monthly.
$32.50/month when billed annually.
7 day free trial. Cancel anytime
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
Starting Out
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated almost 9 years ago,

User Stats

12
Posts
1
Votes
Lamon Woods
  • Monroe, LA
1
Votes |
12
Posts

Staying focused

Lamon Woods
  • Monroe, LA
Posted
  1. 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

Loading replies...