Firefighter Exit Plan

[Morgan Reinart]

Hey everyone!

First, I literally just sat down Investing in Real Estate with Low or No Money Down and decided to join the BiggerPockets community. Oddly enough, I purchased the book a couple days AFTER we signed the contract on rent house #2

So here's the scoop on me... I'm in a 26 year old firefighter in Alva, OK. 2015 was a big year for us- our first child (Feb), purchased our first rent house (June), and our primary residence (July)... Talk about a crazy summer. Fast forward to 2016 - my wife began staying home, we have another side job that offset her income, signing out rent house #2 in about two weeks, and expecting kiddo #2 by the end of the year.

I've been in the fire service since 8 years now, and I'm starting to lose my flame (pun intended) with it plus cancer rates are really making me question an extended career. I'm looking to get out quick (3-6 years), and hopefully do so with rentals.

We are in a college town so there is a steady stream of tenants. Rent house #1 was purchased for $55,000 and rents for $600-650. Rent house #2 will cost $55,000 after repairs and rent for $700-750.

I currently have our properties set on bimonthly payments. Also, I was thinking about once our rental account hits a certain emergency fund/future investment number to start paying extra principal payments on one property until it's paid off.

Any user advise to expedite the process by several years?