All Forum Posts by: Dustan Marshall

Thanks for all the replies everyone!!! I guess I am interested because as my companies moves into this phase I don’t see many others doing what I am trying to do, retire completely, and love off the income. It seems many may retire from their day JOB and create a JOB in real estate. Essentially replacing their job. But not really retiring.

@John Underwood. First of all, thank you for your service and your reply.

I too will receive a pension, this is one of the reason my portfolio can be relatively small by some standards. Along with the fact my wife and I love a low cost lifestyle.

I see lots of article explaining “how to retire with rental properties”. But I rarely, if ever, see any posts detailing those that have done it and live solely off the rental income. We are still in the process of purchasing, what will be the last few properties and all our existing mortgages will pay off in roughly 10years. As such I am getting the sense that we are moving into this next phase and would like to hear from those that have left the day job and live off their rental income.

I was hoping to hear about things such as:

How did the transition go for you?

Do you manage yourself?

How many properties did you have when you retired?

Were they paid off or have leverage?

What is the average amount per unit your can reasonably take as a profit?

What tax rate are your realistically paying?

Are you still active in Real estate (buying, selling, exchanging, flipping...etc)?

How long did it take you to go from 0 properties to retiring?

Or maybe any other advice that would make this phase less challenging?

Thanks for any and all info you can provide

I have been doing RE for a couple of years now.  I have a few rental properties, but i have been reading a lot lately about NOTES.  I really like the idea of a more hands off approach to RE investing.  I have concerns over how much time my rentals will require of me if i continue to invest in new rental properties.  So i would like to hear from you all where i can learn more about buying notes?  AND  where can a non-accredited investor go to buy notes?

Thanks for all the comments so far. the reason I have stuck with SFR in my market so far is because price per unit is almost exactly the same with SFR vs a multi. but a SFR rents are 100-150 per month higher.

I love the idea of buying a multi and having just one transaction for multi units.   but in my area I cant seem to make the numbers work.  

I have been doing buy and hold real estate since 2013. I now have a handful of single family rentals. we recently had our first child and my wife in interested in staying home with him. so the question becomes how can I grow the rental business to the point where it allows us to have her stop working.

we need $5,000 net. in my market that looks like 15 sfr free and clear or 35 sfr using loans with the 50% rule.

when I run the numbers at our current brrrr method and cash flow, it looks like the earliest I will get to that point is 20 years.... which kinda misses the point of staying home with our son.

so the question to BP, is how did you scale your buisness. particularly if you did so in 5 years or less.  

great thread. I am in a very similar situation.  Following.  I have purchased a few rentals.  Basically out of cash now and don't see other are buying so many so quickly.  I would love to reach the point of early retirement sooner rather than later.  

I would speak with a Realtor about average days on market for this type of property in your area.  If it is more than a few months, I would consider listing it now (if you can shelter the gains).  Because if you try to wait to get the maximum return of the sale, you may miss the market and be trying to sell on the down slope.  

I do clean the gutters on my units.  Mostly to protect the assets from damage.  My lease does say the tenant is responsible for upkeep.  But I would rather spend the time to ensure the gutters function then try to fight with the tenant to do it, or pay for damages later on.  

Thanks for the reply. From what I understand that is exactly what they are referring to. To take it a step further, they suggested that in sole proprietorship, because it is a straight pass through and in some instances case law has shown that legally you are operating the LLC, that the veil is weak. In addition to ppl not maintaining it correctly.

So I was just wondering if there is another form of an LLC or something g else entirely that would better protect me?