So my wife and I were having a picnic by the intracoastal watching the million dollar yachts cruise by and were discussing our plans. I have been learning about REI lately as I have some liquid cash I was going to use to buy a SFH income property, which brought me to Biggerpockets to learn more. And learning I have been!
I mentioned House Hacking in the past and was immediately shot down. No way would she be willing to sell our beautiful house, take that equity and buy a duplex or fourplex and live in one.
So I begin talking about the tax breaks we can take advantage of, and go into the numbers a bit discussing how in an owner occupied situation we can put a lot less down and get much more for our money. That this could catapult our REI plans and lead to an income stream that could allow us build some serious wealth. Well I must have been convincing because she changed her mind. She is now totally willing to sell our house and House Hack. I am so freaking excited.
Here's the kicker though....she is 5 months pregnant with our first child! So we will wait until the baby is born which will also allow me to finish some projects around here to get this place ready to list.
The big challenge will be on me though to find a property that she will be happy with. "Happy wife, happy life" is no joke. She hated our "live and flip" situation in our first house and was never afraid to express those feelings. She felt a little better though when the house sold after 1 day and we got our full asking price!
So for anyone who has made this change before, with a wife and a newborn, I would love to hear some of the challenges you experienced and how you were able to overcome those challenges to achieve your dreams.
