Retiring with rentals

[Dustan Marshall]

I see lots of article explaining “how to retire with rental properties”. But I rarely, if ever, see any posts detailing those that have done it and live solely off the rental income. We are still in the process of purchasing, what will be the last few properties and all our existing mortgages will pay off in roughly 10years. As such I am getting the sense that we are moving into this next phase and would like to hear from those that have left the day job and live off their rental income.

I was hoping to hear about things such as:

How did the transition go for you?

Do you manage yourself?

How many properties did you have when you retired?

Were they paid off or have leverage?

What is the average amount per unit your can reasonably take as a profit?

What tax rate are your realistically paying?

Are you still active in Real estate (buying, selling, exchanging, flipping...etc)?

How long did it take you to go from 0 properties to retiring?

Or maybe any other advice that would make this phase less challenging?

Thanks for any and all info you can provide

[John Underwood]

I am close. I don't have any mortgages. My self directed ROTH IRA also owns properties. So I can pull money from there tax free.

I am also retired Navy and will get a small pension from GE.

I currently bring in a good bit more from my rental empire than from my day job as an Electrical Engineer.