Living off rental income

[Spencer Hoogveld]

I’ve been a real estate investor for the last 5 years. I currently own/manage 4 multi-family properties under commercial loans.

My goal is to eventually live off of my passive income. Are there any strategies I should specifically be working on to make this happen? What experiences do you have from when you transitioned into real estate full time?

[Jeff Wallace]

Start with your Spending - EVERY dollar counts - Every dollar spent is a dollar more you need to earn either through a job or passive income - less money spent on lifestyle creep, is less money you need to acquire passively before you can leave the job - Once you have reduced the spending and curtailed the lifestyle creep, and created sufficient rental income  THEN you can live off the rental income and pile up the earned income to reinvest .... earned income piles up REALLY fast when you don't need it for the monthly bills - keep reinvesting and before long the passive income will let you live like a king!!