$250k ARR - How is it done?!!!

[Keeya WangJones]

Hi BP,

My partner and I are on a mission to replace our salaries with Real Estate. We have some concepts and strategies in mind. 

@Dave Meyer I bought your strategy book! I’ve been following BP for years and have some minors experience with one property.

Long story short, my partner and I are on the same page to prioritize this. Maybe because collectively we have 30 years in the tech industry and WE ARE EXHAUSTED OF THE GRIND AND BEING OVERLOOK FOR CAREER OPPORTUNITIES!! 

We are circling back to our passion in real estate. We see that investors are getting few $100-300 a month in cash flow. If we follow this process, it would take us 2500 properties to replace our salaries. There’s definitely strategy we are missing. 

Watching BP videos, reading, studying, we need a better plan. We don’t have generational wealth. We have capital. And we need to stretch it and see if we can match our salaries. 

How are all these stories on BP videos making enough to live off real estate income to replace their salaries?

Cheers!
Keeya

[Bill B.]

@Kevin S.

The cash purchase portion was my fallback, I don’t like it, but for them to buy with retirement funds. (I assumed with a $500k annual income they should have a couple million plus after 15 years.)

On average I tried to put down 20% to avoid PMI.

I bought 10 homes in 5 years, 5 primaries, 5 rentals. That’s slow by today’s standards but while this was not pre-internet, it was pre-“everybody’s doing it”. I didn’t know anyone that owned 1 rental or even 1 vacation home. I figured it all out as I went. I also stopped once I got to 13 or 14 homes for a couple reasons. 1) I don’t like paying interest for rent, or owing “people” money, so I wanted to start paying them off. 2) I live a retry basic/low cost life. I never earned more than $60k, my wife made $100k her last year of being a nurse in 2020 with 40 years of experience. We have 2 paid off cars and paid off home, no kids and we don’t travel excessively.  So we can live VERY comfortably on $80k/yr. The math said we’d easily make $150k/yr and more wouldn’t add to our happiness. We met too late in life to have kids and maybe we both regret that as it would definitely add purpose to collecting generational wealth.  And luckily our families are doing fine financially. 

Ps. A a county employee she didn’t pay in to social security and as a small business owner I paid very little. But she has a comfortable fixed pension that w could almost live off. (Which means of course we could live off it but we’d watch our spending more.) 

I truly dreaded the standard retirement plan when I was in my 20’s  “save as much as you can and hope you die before you run out”seemed REALLY depressing/scary. I feared the day I would start withdrawing from my retirement funds  now that money will sit there untouched until I die and all I think about is how many houses I could have bought 10-20 years earlier if someone had taught me about real estate instead of stocks and IRAs  I retired at 40, but 30 would have been just as easy if the information was available  so I’m trying to be that information for the next “guy” (even if she’s not a guy.)

Feel free to DM me any more questions  I feel like I’ve shared enough for a confirmed introvert and probably lost 90% of the audience by now. Like a comedian who goes too deep in to the joke