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Updated over 4 years ago on . Most recent reply
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I need to hear “I quit my job!” stories, please!
Hey y’all. I’m standing on the edge of the cliff of quitting my W2 job and I’m wondering if I can fly. I’m at a point now that many have been in before. I’ve been miserable for years in my career. Instead of letting it drag me toward an early death I chose to start investing in real estate about 7 years ago. My goals were (and still are) financial independence through rental income so I have the ability to watch my kiddos grow (ages 3, 6, and 8) and travel with my wife of 12 years any time I want (never heard this one before, right)?
Last week I closed on an apartment deal that brought me up to 50 total doors. All of my properties (four apartment buildings) are leveraged with commercial financing. My net rental income now matches my W2 income and I think I can do this. My wife, maybe not so confident. I don’t blame her, it’s terrifying. But I feel like our goals are in sight. Please give me some motivation through your success stories of retiring on your rental income!
Most Popular Reply
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@Kyle Robertson
Dude, JUST DO IT!
I left my job in March. The hardest thing was just walking out the door.
I wanted to leave my job from day one but I had tons of buddies and made good money. My job was also pretty easy and my total comp package was probably around 125k a year.
The biggest problem was I never saw my family. I have a 7 and 2 year old. With the exception of Sunday I was always working. They were growing up and I wasn’t around.
One day I looked at the 3 houses I had sitting vacant and turned to my wife and said. “I am quiting tomorrow. Is that ok with you?” She gave her approval and I walked in the next day and quit.
Benefits: you stop being so lazy about your business. I would always say, I am not going to raise rent because if they move I don’t have time time to work on stuff. It was killing my profitability. Now we are at market rents.
Fear should be every persons enemy. Make your choice based on love. How much better will your life be with 50 hours back and time with your kids!
If you are really having trouble read 4 hour work week. It has a few pages that talk about quitting.
I would say good luck but I think “Just Do It” is more appropriate!