Implementing BRRR in Order to meet 45th Birthday Goal

[Brian Larson]

**This is the intro to a possible multiyear diary. Sorry for the long first post, I wanted to give context. My goal is to update this every month when I update my personal balance sheet**

So today is my 38th birthday. I do not mention this because I want a nice comment or seek something, I mention this because I use my birthday as my fiscal year. I have set a goal to be able to retire/full-time invest starting on my 45th birthday (if I choose to do so...I love my current day job so maybe I will do that forever). So my fiscal year runs 11/1-10/31 when I do budgeting and planning for my family/investments

As I track towards my 45th birthday, I have set some very clear goals ahead of myself.

• Earn $10k in Passive Income per month by 10/28/2022
• Have a Net Worth of $2M by 10/28/2022

I have been tracking against each of these numbers off and on for a few years but have not been crystal. About 9 months ago I read the Millionaire Next Door and it helped crystallize where I am today and then a combination of BRRR and the Millionaire Next Door made the steps necessary to hit my target net worth today and tomorrow tangible. (you can see from chart below that I am where I am supposed to be per the formula)

I plan to get where I need via 2 asset types:

• Rental Properties (SFR/MFR) - leverage BRRR in order to buy and rehab for cash then refi into portfolio.
• Notes - First Position with a minimum yield of 13%

And have set some minimum goals to how I now acquire each of these assets.

• Rental Props - add 6 units that average out to $150/mo cashflow and $25k equity per unit
• Notes - Add 2 notes of $25k or greater that yield the above 13% minimum

My acquiring with these numbers I will add $200k in net worth and $1,520/mo passive income per year which will in turn yield the growth I need. See below You can see where I am today and where I want to go. So, with that, I hope to post lots of additions over the coming year as I need to add 8 assets this year (starting 11/1) and have already begun the process. Stay tuned Last note: I have uploaded my acquisition sheet that you can edit to your own liking. It may not be perfect for you as it only goes out 7 years but you can add more data/rows as needed. Acquisition Tracker Thanks for reading brian