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Updated almost 3 years ago on . Most recent reply

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Michael Conte
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"Retired" through real estate: what's your day to day look like

Michael Conte
Posted

I see all the memes about "quit my 9-5 to invest in real estate but now I work 24/7". Just wondering what your day to day lives look like living off your real estate.

Currently 1 year in on the journey with 4 properties. 3 of which were BRRRRs that all money were pulled out of.

In a bit of a lull looking for next property though. Hoping some of you can she some light at the end of the tunnel when you've reach your end goal numbers

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Bill B.#3 1031 Exchanges Contributor
  • Investor
  • Las Vegas, NV
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Bill B.#3 1031 Exchanges Contributor
  • Investor
  • Las Vegas, NV
Replied

It took me 6-7 years to buy a 13 properties. Then another 6 years (and selling one property) to pay them off. That leaves A little over $200k net with a PM. That means I spend 30-60 minutes per month dealing with real estate. 80-90% of that is bookkeeping and maybe 4-5 repair/Hoa complaint/utility forwarding emails. 

This can be done from anywhere on the planet. Just keep your “primary”  and as many rentals as possible in a state with no income tax or you’re basically tossing a full property’s income to the state. 

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