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Updated over 7 years ago,

User Stats

649
Posts
52
Votes
Steve S.
  • Dallas, TX
52
Votes |
649
Posts

Trying to achieve financial freedom - WHAT NOW?

Steve S.
  • Dallas, TX
Posted

Here's my situation.  I'm 40 years old.  I have 4 rental properties.  1 has about 50% equity.  The other 3 have around 30% equity.

I have about $800,000 in my 401k.

I have about $200,000 in cash.

The 4 properties are on 30 year notes and all about 2-3 years into paying off the note.  Total owed is around $750,000.  

I gross around $110,000 per year in rent and pocket about $3,200 / month depending on how many expenses I have.

My goal is to achieve financial freedom soon.  Preferably in the next 5 years or so.

I would retire today and live on about $40,000 per year and stay within the 4% SWR.

I can pay off about $10,000 per month on the properties.

What should I do to get there faster? Should I add more properties? Should I only BRRR? I don't want to write any more 25% down checks. Should I just pound down these notes $10,000 per month?

I'd like to grow my portfolio and expand my cash flow ability while achieving financial freedom in 60 months or less.  

What am I doing wrong?  What would you recommend?

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