Going from 1-2 deals a year, all in full time, no safety net.

[Vincent Plant]

My wife and I have been working as a team to acquire single fam properties over the last 2 years.

We have built up a portfolio of 4 rentals which nets us a cash flow of about $2k/m.

Now, my wife it at a place with her full time $60k/y job where she has had it. She wants out badly.

The $2k/month in cash flow is nice but it’s not nearly enough to replace her income. But listen, we have no kids, very little revolving debt, a big cushion of savings and capital, and Id like to think a firm grasp of know how on the industry (I’m a residential realtor).

She wants to jump in with both feet in real estate investing. I’m just stuck with how to make it sustainable and consistent as opposed to the “pick up a deal here and there to add to the portfolio.”

Has anyone else found a successful, systematic approach to launching full time? What strategy did you use, did you aim to build cash flow or did you stick to flips for steady income?

Open to all ideas. Thanks BP.

[Corby Goade]

This is a very personal decision and everyone has a different level of acceptable risks. That said- if you are going to make the jump, it sounds like now is the time, you don't want to take the chance when you have kids, insurance, etc etc, You can always find another $60k job right? Those are everywhere. 

When and if you take the jump, you'll be surprised at the opportunities that come your way, simply because you are now in that world full time. You'll find deals and partners and ways to monetize your efforts that would not have been there if you were still working full time. 

In real estate, if you work hard, understand your role and treat every deal and person fairly and honestly, you can do just fine in lots of different ways. 

Good luck!