From ZERO to SIX FIGURE gross annual income in 2.5 years!

Back in March 2013, I wrote a blog post to publicly announce my goal of achieving 6-figure gross annual rental income in 2.5 years.

Since that time, people have been asking me, "So, how close are you to your goal?" or "Did you hit your goal yet?"

Posting goals publicly is a great way to keep you motivated. Other people can see your goal(s) and ask you about them, which keeps you wanting to reach that goal.

Also, I believe goals should be challenging, but feasible to attain. If I had made a goal of $1 million in gross annual revenue in 2.5 years, I know I would have failed. I wanted something that would make me stretch, not break.

Okay, enough for the intro, how did I actually do?

Here are my current gross rents per month (this is for all properties acquired since June 2011):

$1630 - 3/1.5 duplex (purchased June 2011)

$850 - 3 bd single family (purchased December 2011)

$800 - 2 bd single family (purchased February 2012)

$797.50 - half of 4 bd single family (purchased July 2012)

$875 - 3 bd single family (purchased November 2012)

$1100 - 4 bd single family (purchased December 2012)

$375 - half of 2 bd single family (purchased May 2013)

$625 - half of 2/1 duplex (purchased July 2013)

$825 - 2 bd single family (purchased September 2013)

Total: $7,877.50 per month

Annualized: $94,530

But wait! I'm going to be closing on a 3 bedroom single family tentatively set for January 9th that already has tenants. So I'm going to be a little bit "cheaty" and since I did have an accepted offer in December, I'm going to count it. (Hey, it's my goal and it's only a few days after the deadline!)

Additional rent per month: $900

Annualized: $10,800

New grand total: $105,330

BOOM! Six figures gross annual income in 2.5 years!

Happy New Year 2014 everyone!