How much is enough?

[Joseph Niedermeyer]

I know this question is subject to way too many things to actually answer but philosophically, how much is enough? I read posts and watch videos of people always searching for the next big deal. Some talk about 30 units or 120 units or 250 units in their portfolio. I guess I’m less driven in this seemingly endless cycle. I’m 43, my wife is 38. We are focused on our retirement and our three young children’s futures. Where we live, $100k annual income is upper middle class. Our goal is to own (paid off) between $2m and $3m in rental property in 15-20 years. To live within our means but comfortably till then. To retire with approximately $100k in annual (net) revenue from rentals. That allows us to enjoy retirement, help our kids with college and give them an inheritance after we are gone. So for us, we probably need 20-25 units to reach that $2m-$3m Mark. Is there a reason to own more? Is there a greater practical benefit to owning more and more (other than just having a bigger business)? Just considering the balance of real life and free time and stress and long term potential risk of owning 50 or 100 or 250 units. How much is enough?