Lets talk $$$$ How do you pay yourself!

[Mike Landry]

simple question! How do you pay yourself from your rentals? How much do you reinvest? 

I have to admit i love talking $ when it comes to financial strategies and goals. I'll go first.

Im small time with only 3 properties that net $1500 month after PITI's. I have a great job and dont need the money my rentals bring in. I also tranfer $1000 per month from my w2 job to my realestate account. So i am accumulating $2500 per month in my real estate account.

However, i am reading profit first and the idea of running a business intrigues me. Especially the part of paying yourself first. It has made me reevaluate my goals. I like the idea of taking quarterly distributions to spend on whatever i choose. Hopefully this will keep my wife and i motivated to keep investing. I sometimes question the risk and stress involved and think i need to keep a carrot dangling in front of us to achieve greater things. I'm thinking of taking $100 per house per month and  paying out quarterly. Then reinvesting the rest. 

How do you stay motivated?

How much and how do you pay yourself? 

[Stone Teran]

I stay motivated by establishing a clear long-term business plan and taking steps every month towards achieving that plan.

I pay myself nothing while in growth mode.  My w2 income is all I need to survive (and then some).  All my real estate profits get reinvested.