Originally posted by @Todd Powell:
@Clifford Paul. Question, at 42 how much cash flow did you have before you pulled the trigger? Been my Q
In 2007 I was medically retired from the military. I had 32 rentals at the time and only 2 with a mortgage. I had no clue about leverage back then. My cash flow was just under $20k a month.
Because I had cancer and didn't know if I was going to survive and my properties were spread out in 6 states. We decided to sell all of them and our 2 vacation homes.
I invested all that money in low cost index funds and dividen stocks. I haven't touched that money since except for the dividen checks I recieve.
One thing that got me where I am today is we have never lived on our cashflow. We currently have over 10 streams of income to live on.
Now we have 20 properties in our second portfolio that cash flows just under $40k a month. My wife still works and will retire at 49 in 4 years from the military. Since her income will be cut in half we will probably start using a little bit of the cashflow. But until then we will continue to reinvest all of the cashflow.
I encourage everyone to get more streams of income if they want to retire early. There's thousands of ways to make money.
