Are You Making a Living?

[Tom Scott]

Hi all. I want to get a feel for how many on here actually make a decent living in real estate verses are just doing "OK". Obviously I realize we probably cover the spectrum from no real estate income all the way to huge real estate income. I realize the term "making a living" is pretty broad and I'm not asking for hard numbers on your income, that would be rude, but for me it would mean the ability to quit my job as an engineer and live solely off my real estate income while growing it at a consistent rate, maybe 10% a year. I currently do pretty well for an engineer earning a little more than most in my field. I'm not 6 figures but have the potential to be there in a few years if the right promotions come along but not much more is possible within the corporate structure in which I work. I know it can be done as others have obviously done it, but I'd like to know how common it is. I plan to do a mix of buy and hold and an occasional flip just for fun, but if I'm going to go down this road I want to know that with hard work the odds are in my favor of succeeding.

Tom