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Updated over 9 years ago on . Most recent reply

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Scott Trench
  • President of BiggerPockets
  • Denver, CO
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Did you quit your job? We wanna brag about you!

Scott Trench
  • President of BiggerPockets
  • Denver, CO
Posted

It's been a topic mentioned extensively on the forums, podcast, blog, and in our webinars. 

EVERYONE seems to want to quit their job with real estate.  We know it's possible, we've seen it done.  What we don't have is a forum thread full of responses to this question.  Let's hear it folks - who successfully quit their jobs through real estate??

Specifically, if you've quit your job largely due to you success in real estate investing, please answer some of the following questions for the community:

What were you doing before, and what do you do now (professionally)?

Is your passive or business income from real estate the same, greater, or lesser than when you were working a job?

Do you "live the dream" and travel/vacation year round, do you focus on building your empire to ever greater heights, or do you pursue some other passion?

How long did it take you to build up a real estate portfolio sizable enough for you to "retire" on?

How much time does your real estate business consume per month?

Looking forward to hearing the responses from some of those folks that have succeeded with this!

We'd like to brag about your accomplishments to the world!  Let us know and let us share your success to inspire others!

Most Popular Reply

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Dawn Anastasi
Pro Member
  • Rental Property Investor
  • Milwaukee, WI
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Dawn Anastasi
Pro Member
  • Rental Property Investor
  • Milwaukee, WI
Replied

I left my full time job as of May 1, 2014, so it's been almost a full year.

What were you doing before, and what do you do now (professionally)?

I was previously an accounting software consultant.  My prior career involved project management, working with people, and problem solving. Those skills transferred over into the real estate world.  I have to project manage rehabs, work with tenants, and problem solve when issues come up or how to negotiate with a seller.

Is your passive or business income from real estate the same, greater, or lesser than when you were working a job?

I self-manage my properties, so I would not consider that 100% "passive".  Although my formula is to keep my properties maintained well and pick good tenants, to try to get my active management as passive as possible.

Do you "live the dream" and travel/vacation year round or do you focus on building your empire to ever greater heights?

I'm not that big on traveling (I don't like long plane/car rides) however I did recently take a 10-day vacation out to CA in December (which was a nice change of pace from the WI winter!).  I have acquired 3 properties since I left my full-time job, and I only plan on acquiring up to 3 more before I stop.  My "dream" is not to become a millionaire, but to live comfortably while working no more than part-time at the most.

How long did it take you to build up a real estate portfolio sizable enough for you to "retire" on?

I started investing in Milwaukee in June 2011 and gave my notice to my employer in January 2014 (although I stayed on until April 30, 2014).

How much time does your real estate business consume per month?

It's only been a part-time occupation.  It's given me the freedom to start doing volunteer work 23 hours a week which is something I've always wanted to do more of.  I really enjoy helping people and giving back to the community.

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