FIRED from J.O.B...saved from financial ruin THXS to house hackin

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FIRED from J.O.B...saved from financial ruin THXS to house hackin

Johnny McKeonPro Member
Rental Property Investor · Mesa, AZ · Member since 2016 · 101 posts · 72 votes

I am no longer a Corrections Officer as of yesterday evening.

I was just "terminated", "let go", "sh*t canned" or as Donald Trump would say "you're FIRED!"

This is the importance of not relying on just one single source of income from an employer. To me that's risky! How long could you survive without that one J.O.B.? I'm Serious. Think about it. What if you got sick or injured?

But Don't get me wrong who the hell wants to get FIRED. It sucks.

But That's why having multiple streams of income is imperative to your survival and future and that's why I'm obsessed with buying income-producing rental properties and house hacking 4-plex's 

They're an asset and pay me monthly.

does anybody else have any shocking or scary stories but real estate saved the day financially??

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  • Zachary Ray
    Investor · Tampa, FL · Member since 2017 · 589 posts · 251 votes
    5y

    I'm sorry you were let go man. I too have house hacked and it lowered my bills significantly to walk away from a 9 to 5. Continue to look for something else and buying more real estate! You got this. 

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  • Bill Crow
    Investor · Lewisville, TX · Member since 2012 · 106 posts · 103 votes
    5y

    @Johnny McKeon

    Nothing shocking or scary, but my story is similar to yours. I got canned from a corporate job in 2011, and I swore I would never again be dependent on some giant, unfeeling company for 100% of my income. That determination led to me building a rental portfolio that can keep my family afloat if I never work another day.

    Use your “disruption” as the motivator for the next great opportunity, real estate or otherwise. Best of luck to you.

    0Reply
  • JD MartinBusiness Member
    Moderator
    Rock Star Extraordinaire · Northeast, TN · Member since 2015 · 10k+ posts · 16k+ votes
    5y

    RE definitely made a huge difference in my career - it allowed me to enjoy it more because I wasn't so dependent on the W2 to pay the bills. I had a rogue board member that was my "inspiration" to diversify, which led to RE, which led to FI, which led to FIFY (I'll let you figure out what FIFY means 😉 ). No one should underestimate the importance of diverse income streams to a goal of being able to withstand financial setbacks. 

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  • Glacia Cooper
    Member since 2020 · 3 posts · 0 votes
    5y

    I love your stories, it must have been difficult initially but y ou all made it work...so inspiring. It is really scary having only one source of income.

    I have been thinking very hard about buying my first investment property within the next one year but I still cannot decide what market to invest in. I need assistance please.

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