Successful real estate investor AND minimalist? Possible?

[Steven C. Suarez]

I love the idea of becoming a successful buy and hold real estate investor. Accumulating houses for cash flow. And more houses. And more houses. And more...etc.. Thing is I've always wanted to strive to live a minimalist existence. Less stuff. Less clutter. Less expenses. Less stress. Less. Does anybody out there consider themselves a minimalist? And can you be one while owning 10 or more houses? Real estate has me striving for my magic number. You know, enough cash flow where I won't have to work anymore. But can my hunger for more cash flowing houses coexist with my desire to live minimalist? Your feedback would be great. Thanks BP community! Stevo from Texas

[Account Closed]

Steven,

Your post reminds me of what Dalai Lama said "A simple life is a happy life." I've been thinking of how to spend the next 30-40 years of my life if god is willing. I want to simplify my life, but when you're married with a child, you have family obligations. Fortunately, you still have choices. Would you rather own 10 free and clear properties or 40 properties at 75% LTV? It depends on what stage you are in your life. Do you want to build wealth to pass down to the next generation, or do you just want a simple life for yourself? Do you want to be beyond comfortable so you can help out your parents and your in-law parents in their old age?

To me, having a property manager managing all of your rentals would free up your time to do what you love and/or spend all the time you want with your beloved ones. It comes at a cost, but it's well worth it IMO. The goal is to get there first. It takes hard work and dedication. It's a process to get there unless you're one of the lucky few who hit the lottery.

Once you have the ability to live the life you want, you have options. You could do things at odd hours as you don't have a job to go to. You'd be a cool dad who could take your kids to school and pick them up without feeling rush to get back to work. You could take them to the park after school or an arcade for them to play games. It's a very different life at a minimal cost.

You don't need to have a boatload of money. It's about having free time, the most precious commodity money can buy. You don't have to own a lot of expensive toys or dine at the finest restaurants to feel content. You just want to own your time. There's nothing like being able to live in your own way. I wish you the best of luck on getting there.

Cheers!