Are you a DINK (DUAL INCOME NO KIDS) ?
I am. We are dual income no kids, with a eight pound furry child. Lets just say she’s a princess and it’s awesome. She travels with us or she stays home. Finding her a babysitter is easy and child protective services never gets mad because she is left at home alone. She is perfect for our lifestyle.
We are also serial investors and our goal is to create a Real Estate Empire that will allow us to sail around the world post military retirement. We have created a business out of being a serial buyer and at 7 we are well on our way! We have our building blocks that helps us figure out the diamond in the rough or junk for our perfect rental. This has helped us find great homes that will be future rentals. We have been able to create a market for us to be successful in a world that not everyone is cut out for. Let’s be honest; landlording is not for everyone! Even with all that–being a landlord has been an awesome financial benefit for us.
Here’s the twist! We know of various couples who have been burned and I have seen this behavior continue online. You know the biggest offenders, DINKs; the group with a large amount of disposable income in a time of their life that they want to be FUN!
Owning a home is a LONG term commitment. You need to have an exit plan and think further than just today! This is where they go wrong.
I see the comment “My husband and I are looking for a home, but schools are not important!”
This is where I want to “smack my head”. You cannot buy an EXPENSIVE home and then not have a way out! Remember that the key is “who” is going to pay your mortgage when you leave? Therefore it is VERY important to think about this BEFORE you buy. So while you might not care about kids you need to make sure that you know the market that is going to take you place. In most cases, since there are so “few” DINKSs you need to appeal to other demographics. You need to have the family home.
Personally our building blocks are based on those with families taking our place. We buy in great school districts, within the BAH of our house. This has allowed us to rent the houses with a profit every month. So look beyond your personal group! Who are going to be your renters? That is the question you need to answer! Remember you want a lot of demand for your supply. So you need to be in an area that the supply is wanted. Poor schools that only appeal to kid-less couples will greatly reduce your demand.
What do you look for when you buy a house?0