Wife/husband differing views on investing

[Daniel Byrd]

I’m sure this discussion has been around for a while, but I need help. I want to start investing in real estate and my wife wants a new home. Sounds easy enough. I could just buy a new home and rent out my old home. The problem is, if I buy what my wife wants (3/2, no renovations, front and back porch, granite everything... you know the works) I can’t see a way not to loose money. My current home would possibly bring in a whopping $50 after mortgage, insurance, tax, cap ex, repair, management, ect. Making paper!!!....NOT! The houses in my area of Dothan, Alabama are pretty fair priced but rent values are low. If anyone has ran into this issue and has any advice I would be extremely grateful!