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Updated almost 7 years ago on . Most recent reply
Financial Independence and Expat Living
I have an autoimmune disease in my colon that is triggered by stress. When it is active it makes my life miserable. The biggest cause of stress is working as a construction project manager in NYC with a lot of pressures coming from all sides. The biggest stress relief for me would be to know I could walk away from work at any time without having to worry about money. I don't know if I would quit a job that I do well at, am appreciated, work with a great team, and enjoy most days. But having a safety net, a plan B would go a long way for peace of mind and physical health even if I never quit what I'm doing.
So I am trying to reach a basic level of FI as soon as possible. Through research and travel, what I realized is there are many areas in the world that I would be open to living that are much cheaper than NYC or much of America. On even $1,200/month I could live very comfortably in areas such as Bali, Thailand, Vietnam, and the Philippines. For stocks using the 4% rule in low cost index funds, I would need $360,000 invested to make that $1,200/month expat plan happen. I'm 26 and at my current income and savings rate I'll have that money by age 35. If I get raises in line with what my coworkers have gotten while maintaining the same expenses, I can expect to have the money by age 32, just 6 years away.
My question for the Bigger Pockets community is to lay out a scenario with real estate of how I could get there faster. I am saving $30,000/year and don't want to invest anything I already have in real estate because that is my emergency fund. How many doors and how much invested in down-payments and up front costs is a reasonable middle of the road assumption to make a $1,200/month profit on real estate?