3 paid off houses for cashflow

[Joseph Liz]

Hello all, I’ve got this idea stuck in my head that might sound crazy, but just might work.

So currently I have zero debt, rent an apartment for $435/mo, car insurance/gas and groceries, and other little miscellaneous things, I only spend on average of $800-$900/month. Currently I am making 80k as a nurse, which is about 60-65k-ish post taxes.

My goal would be to have 3 paid off homes (in cash) in the $100k-$120k range. Rent them out, and travel the world for cheap living off the cash flow. A property of that price would rent for 1k-1.2k if I could find something decent enough. After paying taxes and insurance on those 3 homes, let’s just average it to $300/home. And hiring. Property manager let’s average at $150/home.

So I would receive $3450 (1,150x3)

And minus the property manager and tax/insurance

From that $3450, would equal $2100 in cash flow per month for 3 fully paid off homes in that price range. Given I could find 3 deals like that.

Say I was able to continue to save the way I’m currently doing, and able to buy 3 homes for cash, what other obstacles could I encounter?

I would have no less than $50k reserves in the bank before I go off and retire and live off the cash flow.

Shouldn’t have read that damn 4 hour work week, now I feel like this it totally do-able and can retire in 5-6 years.