All Forum Posts by: Josh Romo

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 😭.

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?

Your wife has 3 kids at home and she is in school for 4 more years? And you want to force her into another house hack?

Stop for a moment and think about what you just said.

Did you know that the greatest destroyer of all the weath you want to create is divorce? From the outside looking in, and having been around the block, a lot, that is where you are headed if you don't listen to your wife's needs.

I'm at home with the kids and own my own business and work from home to support us and have been for years now.

Divorce is not a option we have been together for a long time

0 Votes

Modesto/Merced, California

Quote from @Aanu Jibodu:

Is there a way to comprise with your wife?One strategy I've heard of is purchasing a SF with an ADU or in-law suite, or perhaps a basement with a private entry, and renting that out. That might allow more privacy and maybe she would be more on board with that?

Also, congrats on the successful HH! I’m currently getting ready to do my first.

We will need to talk about a compromise definitely difficult when a significant other is not in the same page 😕

We are in CA so plenty of ADUs and in-laws I will look into those.

I look forward to seeing how you enjoy house hacking in the near future.

0 Votes

Modesto/Merced, California

Quote from @Sergey A. Petrov:

Personal and business lives do not always mix. Your wife wants a home for you guys and the kids. You are more focused on real estate investing. There is a balance somewhere but I can tell you that a happy household is worth more than the next household! And, no, your investing career is not over, you’ll just need to pivot a bit.

Looks like I just need to change my mindset and try to slow down youngest kids are 5 and I wanted to get as many homes as possible before they are 9 and get close to friends. I'm not sure where my pivot will be.

putting down 5% is better than 20% in our current situation. Guess I'll just keep stacking cash and try to get our next home at 5% then a investment property at 20%

0 Votes

Modesto/Merced, California

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 😭.

11 Votes

Modesto/Merced, California

@Dave Spooner Yes we are taking up the master room once we get the next property it will just be more cash flow. we are renting rooms to students which has been great so far they all have terrible credit but between jobs and fafsa it is affordable for the students. All of them are strangers and found by posting on a facebook group.

we are currently using apartments. com to handle payments and leases

0 Votes

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $350,000
Cash invested: $40,000

STR by the room 6 rooms total 5 rooms current $600 monthly 1 room at $900 monthly

What made you interested in investing in this type of deal?

location

How did you finance this deal?

FHA

How did you add value to the deal?

new build built backyard by myself so saved a ton roughly 20k

1 Vote

All Forum Posts by: Josh Romo

Josh Romo has started 2 posts and replied 6 times.

Post: Wife doesn't want a second house hack

Post: Wife doesn't want a second house hack

Post: Wife doesn't want a second house hack

Post: Wife doesn't want a second house hack

Post: current house hack in central California

Post: current house hack in central California