Long Term Strategy Goals

[Jill Smith]

My husband and I just closed on our 3rd rental property.  What are different "end game" options?  I understand how to look for cash flow, things we will need in 5-10 years. However, what are different long term options?   In 20 years when our properties are paid off, do we just live off cash flow? Sell them and take advantage of appreciation?  Right now we both have W2 jobs and are focusing on reinvesting our rental profit into more properties.  However, in 5-10 years we may decide to "retire" from our W2 jobs and have more flexibility. I feel like I'm missing something and need to know what our end game is while we are planning for the near future as well.  If it makes a difference, we live in the midwest (Wichita, KS) - decent cash flow without crazy appreciation.  

[Toby Khan]

@Jill Smith-You had a good start & congrats on rental property#3. I believe as time goes on your goals will change (mine sure did). Like many other fellow investors mentioned-once you sell these properties you no longer will receive cash flow, I'd keep buying till you hit your freedom number. Once you don't have to work 9-5 job to pay bills you will have a good amount of time/freedom to decide your next steps. I am in the buy & hold group of investors but I also have done 1031 exchange in past to gain more cash flow from bigger properties. Currently Closing on a portfolio of duplexes in Wichita-if you asked me years ago I would have never thought I'd be taking steps to be on multi family investments as I was comfortable with single family rentals at the time. It will depend on your goal and how/where you want to retire in 10 years. Please reach out to me if you have any questions.