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Hi,
Austin our kids sound like they are similar ages and your adventure up north gives me the giggles. More for the fact I can imagine what a 6 hour car trip can do to kiddies, let alone dragging them along to propety inspections. Because of this we only look at IP's close to home, 2 hour drive at the most (max time our kids can be in a car without killing each other... and us killing them
).
The advice everyone is giving about expanding your financial intelligence is crucial. We are learning new things about PI all the time, and is all still very exciting. I also had a tough time convincing my wife to look beyond keeping the money in the bank mentality. That was four years ago and she is now more enthusiastic about investing than I am. We consider ourselves infants in the property game and it's a never ending learning curve.
Orion stated:
I had to do this and you obviously have to as well. Eventually she came around but it took time. We look back and know it is the best thing we did for our family's future. Now we use other investment vehicles but property got us kick started. But remember knowing the theory side of things is great but doing the practical side is the ultimate, and property is no different.
On a personal note I believe to go it alone in your situation would not be healthy for your relationship. I believe you can't make these crucial financial decisions without your wife's input. I know 'cos we went down the exact path you're on 4 years ago (at that stage we were 24, living in Auckland, had a 2 yr old and a new born, and spare cash was non existant). Arguments over money is not pretty and I believe if it becomes a problem (deciding to invest) it is not worth the hassle of disrupting the family harmony (gees I sound like Dr Phil - without that annoying Texan accent).
Wada
Austin our kids sound like they are similar ages and your adventure up north gives me the giggles. More for the fact I can imagine what a 6 hour car trip can do to kiddies, let alone dragging them along to propety inspections. Because of this we only look at IP's close to home, 2 hour drive at the most (max time our kids can be in a car without killing each other... and us killing them
). The advice everyone is giving about expanding your financial intelligence is crucial. We are learning new things about PI all the time, and is all still very exciting. I also had a tough time convincing my wife to look beyond keeping the money in the bank mentality. That was four years ago and she is now more enthusiastic about investing than I am. We consider ourselves infants in the property game and it's a never ending learning curve.
Orion stated:
Get yourself educated and you'll prove to her you know what you're doing.
On a personal note I believe to go it alone in your situation would not be healthy for your relationship. I believe you can't make these crucial financial decisions without your wife's input. I know 'cos we went down the exact path you're on 4 years ago (at that stage we were 24, living in Auckland, had a 2 yr old and a new born, and spare cash was non existant). Arguments over money is not pretty and I believe if it becomes a problem (deciding to invest) it is not worth the hassle of disrupting the family harmony (gees I sound like Dr Phil - without that annoying Texan accent).
Wada
.
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