Are you living off the rent you collect?

[Cory S.]

So, I hear many times, I will live off of the rent from my properties.

That seems to be the goal for many.

It’s such a variable income with repairs, vacancies, rising cost of insurance and taxes, declining rents, etc. I know you set aside percentage amounts to cover such expenses, but do you make enough on the rent to have the lifestyle you want?

You add more properties to make more income, but with that comes more expenses and chance.

I’d like to hear stories about those of you actually living off the rent right now and what your experience has been.