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Updated over 10 years ago,
Can we "retire" in 3 years?
Hi! I'm a new investor in Cedar Rapids, IA. We just closed on our first property, a 4-plex. We will have approximately 750/month positive cash-flow from this property. It looks like if we can accumulate 7 more properties in the next 3 years with approximately the same numbers, we'll be able to quit our jobs and move to Panama.
I already have about 40k in equity in my home, so once we sell that in 3 years, we should be able to buy our Panamanian home outright.
In Panama we will enjoy the first few months of "retirement," then continue purchasing rentals (only this time in Panama) and doing the property management ourselves down there.
This sounds too easy. What am I missing? is this even realistic?
Thanks guys :)