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Updated about 10 years ago on . Most recent reply
I have enough now to retire in 5 years!
We started investing 5 years ago… and we’re really proud of our accomplishments so far. In 5 years we went from being tenants to owning our residence plus 19 rental doors! Both my husband and I still have our full time jobs and also manage all of our properties… final goal….retire early and keep on investing on the side. We have decided to stop buying and concentrate on paying down the debt acquired with real estate. According to my calculations…in 3 to 5 years we should have enough net cash flow to retire. I’m excited about this new focus. The challenge… I’m an entrepreneur and I will have a very hard time staying put and not trying to keep on growing!
I’m excited to share this with all of my BiggerPockets colleagues…as we all have similar goals and aspirations! … Thoughts?
:D
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Congrats! You can see the light at the end of the tunnel and it's not a train! (?) Make sure that retirement means more of a fixed income.
I have seen several of my friends retire on rental income, but it doesn't necessarily stay up with the cost of living, since rents can't be increased, in some cases, quickly, rents lag.
Shooting for 20% more than your needs is better than hitting a figure today and saying I can live off that.
And, don't forget maintenance, 15 years into retirement holding older properties may need attention. Just two aspects that retiring investors should address, IMO.
But, congrats, it sounds like you are well on your way, it's a great feeling isn't it? (!)