A Call for Inspiration: Share Your Overall Success

[Michael B.]

Hi BP. I find that the success of others inspires me and sheds light on what's possible. I have my why for wanting to create wealth... giving, family, travel, etc. and I assume others have their why as well.

I would like for people to share their overall success stories. What I mean by that is, if you're comfortable with it, share a broad range of your yearly income (whatever range you're comfortable sharing). Share that you're able to take a one week vacation once a month or four times a year or whatever it might be. Share that you were able to quit your 9 to 5, buy a lake house, whatever it may be. Inspire us with your success.

At times I have a hard time picturing the financial freedom. For example, if you own 10 SFHs cash flowing $200 a month, that's $2,000 a month which is $24,000 a year. That's cool. It's income, but it doesn't seem like travel the world, quit the rat race, financial freedom. Then there's the aspect of cashing out via refi and using that money to get your next property. I get re-investing profit to grow the business and getting that next property, but when do you cash out and pay for that vacation or pay yourself? Speaking of paying yourself, if you have LLCs that hold properties, how do you pay yourself through company? Dividends? Salary? Bonuses?

I hope there are examples shared that might help newbies and others get an idea of what's possible. I personally feel blessed with my job and am not looking to quit, at this point I'm looking to supplement, but I like exploring the possibilities of REI. Who knows, maybe someday the supplemental outweighs the primary.