Becoming Financially Free with Rental Investing

[Javon Wilson]

Hi All,

One of my biggest goals in life is to achieve financial independence and escape the 9-5 grind. For those who have accomplished this, how long did it take you to reach that point in your life through Real Estate Rental investing? Also, how did you know it was time to quit? Was it the sufficient cash flow to live with for you to sustain a better lifestyle? 

[Henry Clark]

Each person will have taken a different path.  Recommend you build a spreadsheet and put together a plan to scale.  This will help you see hurdles ahead of time and develop a plan.  And change course as needed.

Example:   Change numbers as needed.   $200 cash flow per month after everything.   Your take home is $80,000.  $80,000/$200/12 months= 33 doors.  
Let’s say each door is $150,000.  At 33 doors that is $5mm.  I’m going to use a weighted 10% for collateral or downpayment= $500,000 you need.  Some will cash you out in and other down may be leveraging your equity as you grow.  

Example if you cash flow after everything $200 per door.   How many doors do you need to cover your W2 job?  How will you get that capital?  At some stage you will need a team.   This means you need more units or you have to do.