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Updated over 8 years ago, 04/23/2016
Finally Leaving My W-2 J.O.B. Pumped!
It's been a while since I've made a post on the forums(for many reasons). I'd thought I'd give an update on this since I mentioned as my main goal on the BP podcast #73. I'm finally leaving my W-2 job this Wednesday (Feb 24th) and I'll be fully self employed then. I'm really looking forward to be more in control of how I spend my time, as it was the main purpose of all my investing in the first place!
Although I did not reach retirement income requirements through REI cash flow alone(started another business venture as well), my portfolio is a big part of why I feel comfortable taking this step. I'm looking forward to doing a lot more deals and having a lot more fun!
Big thanks to @Dawn Anastasiand @Ramon Jenkinsfor all the hard work they've do on the ground in MKE! Thanks everyone for helping me on this journey.
I'm hoping, now that I have about 8-10 more hours of each day during the week available, I'll be able to be a bit more active on the forums.
Thanks @Brandon Turnerand @Joshua Dorkintoo :) By the way Josh, I fired that bad PM and that property is smooth sailing now!
echoing the healthcare question. HSA? Huge congrats man!
Congratulations! It's a scary, exciting, fun, freeing, rewarding, educational journey on the other side. :)
Congrats.
I just signed up to BP after months and months of lurking and seeing this on the first page of the forums today gives me a little hope.
Best of luck to you
Mehran K. Congratulations! I listened to that episode, but will listen again. Truly inspirational.
I just closed on my first property on 2/18/2016. BP is awesome.
Congratulations. Stories from people like you inspires other to work harder in achieving what you just accomplished. It is a proof that everything is possible if you put your hearts and minds towards achieving your dreams.
Congrats! I am planning on quitting my W2 job in the next 6 months to focus on flipping and building homes. A success story gives me and everyone else motivation to push forward and not give up.
Thanks for sharing!
@Mehran K.Congrats!! You achieved your goal much sooner :)
Also do you mind sharing some numbers? The main question I have is at what point financially you felt that the job is no longer needed? Did you keep revising your financial freedom numbers throughout your journey?
@Mehran K. I just got discovered my interest in REI a couple months ago and your most recent podcast is what really motivated me since I live in NJ. Hearing your success story is definitely very reassuring and inspiring. I hope to one day be there with you and share my story as well! Good Luck!
Congrats @Mehran K. That's very inspiring news! I remember listening to your podcast not too long ago and a few short months later here you are. What an amazing couple years you must have had. Congrats again!
Congratulations Mehran! That is big news and accomplishment. Wish you well and great success with your new endeavor.
@Brian PayneAnswered Healthcare topic on the post above yours. Hope that helps!
@Michael NotoThank you!
@Eric SztanyoThose are all the things that I want so this should be good hahah!
@Nick HarveyAwesome man! When I first joined there were similar posts to this that got me motivated to start. One day your story will be the one that gives hope to newer investors. Keep the circle of life going and make it happen :)
@Tapiwa WakatamaGot your PM and responded. Thanks for the congrats and congrats to you as well on your first deal! I remember that feeling, cherish it, then replicate it!
@Chris GhemmThanks for your congrats and nice comment. I hope you achieve everything you're striving towards as well.
@Anthony J PiscoAwesome man! Can't wait to hear about your full-time ventures in flipping, very exciting stuff.
@Jo-Ann LapinI don't know about brave, just hungry :) Thanks so much Jo-An! I wouldn't have been able to do any of this without the help and connections I've made here on BP. We're all in the right place
@Arjay VergaraSweet :) I remember talking with Brandon and he had a feeling that the topic of our episode would really resonate with a lot of investors in areas like yours. I'm glad you find inspiration in it. Don't hesitate to ever reach out if you need to! Can't wait to see more of your story as it unravels.
@Marcell Z.Thank you Sir! The past few years I've been chugging away like a work horse. I'm really hoping to get some time to relax, reset, and really plan the next steps wisely.
@Hil HernandezThank you very much. Wishing you well also!
@Hersh M.Thanks! I have found that with most goals I set, they come to reality much sooner than I plan. I don't know if you've noticed that as well or not? Can't complain!
I have no problem digging in a little bit with the numbers. I made around $90k/year gross at my w2 and have about $3k a month in expenses here in California. My original goal was to replace my gross income with cash flow before I retired. I make about 3.5k gross give or take in cash flow from my REI business and I've supplemented the rest of my goal with my E-Commerce earnings.
Also, I recently took a trip to the Philippines where I realized I could live pretty darn well for about $1k/month and do all of my online work (REI and E-Commerce) and just live it up and travel. That made a big decision on me leaving my job ASAP.
To dig more into the exact question you're asking from a business perspective, I feel that the time I spend at my w2 job now is actually COSTING me money in dollars. I'm at the point now where if I spend 8 hours a day building out my REI and E-Commerce business, I will easily make more than I am paid at work. I'll be building my business and I can do it from anywhere. When this became a reality, and I believed it, I had to quit.
I hope that helps!
Congratulations man! Looks like you killed your goal of 4-5 years.
Congrats @Mehran K.!
That's awesome!
Can't wait to get my first rental so I can get on that long path to financial freedom.
Congratulations Mehran! I just listened to your podcast recently and it's a great inspiration. I'm just starting on my journey but am hoping to have similar success.
@Shawn Ackerman, @Tristan Cortez, and @Hector Sapinoso, Thank you all very muchf or your kind words. I hope you share the success of your journey with the rest of the community as well!
Congratulations @Mehran K. and welcome to the club!
It is such a life changing thing to do and I am so excited for you!
- Brie Schmidt
- Podcast Guest on Show #132
@Mehran K.That's rad! To make that happen from LA is no small accomplishment. What is the online biz? Rei related? Good luck with all your new freedom!
@Mehran K. Hey buddy, I know we just chatted the other day, but I had to come out and show sum luv on here since I know today was the big day! Much congrats on reaching such a huge goal in such a short time! Cheers my man, great job!
@Mehran K.very inspiring. I cannot wait to be self-employed with more free time!
@Mehran K.Congrats on reaching your goals and I hope to hear many more great things coming you soon!