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Updated over 2 years ago on . Most recent reply
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Those who work full time+have rentals. Are you guys tired?
I work full time+ have few rentals that I self manage+ have a family+ have to cook+clean the house+ have to excercise and I am tired!
I dont remember when I had a day off when I did not have to do anything at all. (Like stay in bed the whole day and read a book or watch movies).
Of course my family helps me, but I am just mentally tired, I think.
I want to go into my childhood when my main job was to go swim at the local lake and clean the house on Saturdays..
How do you guys balance your life?
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If there is ANY way to afford a PM you go that way. For almost 5 years I worked full time while buying a new primary and a new rental every year. With a dozen properties I didn’t and still don’t spend an hour a month on them. If you’re spending more than 1 hour a month figure out much time you’re spending on them and divide the PM cost by that. Then you decide if you would pay that much per hour to not do it.
You may have so much free time that you buy one more property, and that property pays for your PM costs.
Owning my own retail computer stores for a dozen years gave me the money to invest (though I never made more than maybe $60,000/yr and give credit to my wife working as well and our middle class Midwest lifestyle.). This allowed me to retire after just 5 years of real estate investing.
That used to be impressive. Now people do it in 1-2 years. But I did it pre-BP, pre-everyone owns a rental. In the first 30 years of my life I think I knew 2 people that had summer cabins, nobody had 2 houses. I also stopped when I had succeeded beyond my goals with just a dozen properties. You can be rich beyond most people’s dreams from real estate but I simply wanted freedom and quadrupling my income with basically passive income was beyond any goal I could have set.
You will never be as young as you are today, or probably as healthy. Enjoy the time you have left. You’ll PROBABLY be alive at the end of the year. But there’s a non-zero chance you won’t be. Suddenly today’s worries don’t seem to big. GL