Wife doesn't want a second house hack

Modesto/Merced, California
House Hacking
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Wife doesn't want a second house hack

Josh Romo
Member since 2021 路 6 posts 路 12 votes

Hey BP fam,

We have been house hacking for a year now everything has gone great it is my wife and I +3 daughters. As the market corrects i was saving up to grab another house to hack. 


Unfortunately my wife is not on the same page as me. She would lime a SFH just for us and the kids. Once we leave the current house it will cash flow $1800.


has anyone else been in the same situation? I fear that once i get the next property our investing into RE stops there until she finishes school in 4 more years 馃槶.


Our rents have so far covered mortage+HOA and solar bills and zero cash flow. One lender has said they will count 75% of rental income towards pur DTI is that average or are there better lenders out there?

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James DainardPro Member
Real Estate Broker 路 Bellevue, WA 路 Member since 2015 路 415 posts 路 1k+ votes
4y

Hey Josh,

We see this a lot in the industry don't worry.

The ideal situation would be to find a small multifamily property that you can get on an owner-occupied loan. Ideally a duplex on a 3.5% down FHA.

Here in the PNW we see a lot of split-level homes that get converted into two units by adding a kitchen downstairs though I'm not sure that'd be enough space for you and your family.

The ADU/DADU is a great place to look as well. There should be some options/layouts that suite your wifes needs.

Best of luck man!

Podcast Guest on Show Seeing Greene: Paying Off Rentals, Partnerships Splits, & Using Home Equity
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  • Jared HottleBusiness Member
    Real Estate Agent 路 Cedar falls IA Waterloo, IA 路 Member since 2020 路 902 posts 路 549 votes
    3y

    This seems pretty common and your family and household come first. Why invest at all if it doesnt make you a better father/husband?

    I think it would be good to sit down and discuss alternatives where you both win as you both seem reasonable. 

    Can you increase your income so as to save for a down-payment on an investment property?

    Can your next house be a duplex or a house with a mother-in-law suite where there isn't people in your house?

    Can you partner with someone on investment properties where they bring the downpayment and you find the deal/manage the property?

    Can you do the BRRR strategy where you borrow the downpayment money and get it back to them after refinance?

    Many ways to do it 

    [email protected]319-288-5382
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