I hate my job and want to quit ASAP. How fast can I acquire properties as a newbie?

[Alex Silang]

I hate my job and want to quit ASAP. I'd like to leave next year after bonuses (Feb 2015). I am going to be a buy and hold investor using a management company. I have a nice pile of cash saved up to invest.

I'm a total newbie when it comes to RE though.

One thing I am worried about is acquiring too fast. Mistakes are unavoidable but I do not want to make them because I am too hasteful. I am a fairly prudent person (especially when it comes to finances). If it takes multiple years that is fine but I want to leave as soon as possible.

What speed can I acquire at? I've read about people acquiring 3 houses in their first year, but I don't know if that is too fast.

I understand this question is similar to "how long is a piece of string?" but what sort of things should I be considering? I have run the numbers on paper on the area I am considering and the cashflow is superb. Paper means nothing but this does mean I have a nice structural "margin of safety".

Thanks!

[Duncan Taylor]

@Alex Silang,

As for how fast to move? That will completely depend on how fast you can get your processes in place to acquire intelligently, rent profitably and manage the property and tenants effectively. There is no timetable anyone can really give you. Only you will know when you have enough stable and reliable income to stick it to the man and quit your job.

You didn't mention what you did in that job you hate or why you hate it but, perhaps finding another job in your industry is an option. The one thing you will continually fight if your goal is to quit as soon as possible is your judgement will be clouded. You might buy a marginal property you can't effectively handle because you want to move forward quickly.

Also, once you get to the point where you don't really need that job and your boss knows you don't need it, things get really interesting, really fast and you might not hate it all that much. :-)