All Forum Posts by: John Stone

Hey Thomas, thank you for the advice (sorry for not responding quicker). I think that is a way better plan, my wife on the other hand is taking some convincing. Our compromise so far is to use the SFH as a learning experience while looking for a multifamily.

@Brian Gerlach thank you Brian! We are currently living in a single family house and plan to move into our grandfather's old house (it's been in the family for several generations and its a tradition in my wife's family, it's beautiful so I don't mind at all!) This has opened the oppertunity to have a rental and because it was a flip for our own personal use (we could not afford anything else) the numbers seem to work!

I'm getting into the weeds a bit but I really like the dueplex or triplex idea though so I've been looking into that as well but I have no idea what the tax implications of that would be!

Thank you for the support Brian!

Hey everyone, I am planning to rent out the house that I am in starting next fall (i know bad time, i try a lease thst ends in the summer and then switch to a year term) our goal is to get enough rental income to partially replace my wife's income in 5 years so she can stay at home when we start having kids. Is there a group of people or even someone else that has created a strategy around this goal or who wants to talk through a strategy focused on that goal?

I'm happy to talk more if anyone wants to! I studied economics, grew up in a constitution/commercial real estate family, and I've studied rental properties for a few years so I have some basic basic skills but I am excited to learn more and begin our journey!