I make $1000+ a day...would like to get enough passive income to quit day job

[Steve A.]

Hi!

I'm new here. I work in a corporate office setting for my day job, which is just a horribly wrong fit for me. I've been striving to get out. To that end, I started online affiliate marketing last November and had some extremely good luck. I've made about $150,000 in profit from it since then. In contrast, my office job pays $52,000.

I am averaging about $1,000 in profit per day online, plus the $52k/year office job comes out to about $140 or so per day. Additionally I bought 2 rentals cash (about $80k total) that will hopefully find renters soon (I'm having a property manager that charges 8% and no first month's rent manage them). They should bring in about $700 each, gross.

I really want to quit my job/get laid off. People look at me like I'm crazy and say, well, you can just do that NOW! But internet marketing is risky business...some days I do $2k profit, but once every couple weeks or so I'll have a -$500 or -$1000 day for no apparent reason. Now, this averages to $1000 a day or more, but it worries me. Plus, the income is mostly passive, and what little input it requires can be done here from the office, so it seems foolhardy to cut of a $52,000 source of income right now, even if it is soul crushing.

I'll be purchasing a duplex that rents for $1400/mo for $50k down, $50k financed at 4.25% here in a month (780 credit score). After that, since my bank only considers W-2 income and my online ventures are so new, I will have maxed out my DTI. I will thus be forced to buy properties 100% cash from then on until 2 years from now, when I can count my rental income towards new mortgages. Correct me if I'm wrong here. I would LOVE to figure out a way to finance some more properties. I'm not interested in hard money due to the super high interest rates. I have thought about doing some small apartment complexes, since I hear these are handled by commercial lending teams who look at down payment and projected cashflow only, but I am not sure if this is true or if I would qualify.

So as it stands right now, if my $1000/day average continues, I'll be buying a new duplex that will rent for $1200ish in cash every 90 days. So mid June, mid September, mid December.

I will quit the instant I am able to replace my day job income with stable rental income...this is everything including net profit, depreciation tax shield, appreciaton, and principal paydown....since I currently sock away about half of my salary in my 401k anyway, I don't need to get the $52k/year from net profit on rents only. By my calculations, this will be in June, after I get the second duplex rented.

Does anyone have any advice or see any holes in my plan? It's going to be kind of annoying waiting 3 months for every cash purchase...does anyone have any ideas for how to expedite the process using financing I may not have thought of? Experienced guys, what would you do if you had $1000 appearing in your bank account magically every day?