All Forum Posts by: Marie Copul

It is much easier to find a job that you don't hate than to replace your high income with real estate. 

Outside of that, my advice is not earth shattering. Scale down your lifestyle as much as you can and accumulate good assets to get the snowball rolling down the hill. And there's not a huge short cut - if you want a $500k income from real estate, you're going to have to invest $5M at a 10% return, or maybe you're really good at this and can get a 20% return on $2.5M of invested cash. Maybe you don't need $500k to live off of, but you get the general point.

The real answer to this is - What can you do that is really hard that you don't hate? It sounds like you hate being an attorney and kind of hate being a landlord. In your quest to get out of a job you don't like, beware of creating another job for yourself that you don't like.

If you have ever played the Cash Flow Game, you are pretty much the poster child character in the game for a high-income investor. If you get dealt that character card, your primary challenge is that you need to replace a lot of income to get out of the rat race. For quick math you'll need something to the magnitude of 200 units, call it 16 millions worth of multi-family.

If you are looking for cash flow, maybe consider buying a business instead of real estate. It is much easier to hit cash flow goals. Flipping is actually more a business than it is investing and you know how much goes into that. To replace your income you need to flip a lot of houses, I'd do the math with an average 10-15% profit margin, because you have to account for some turds.

The other opportunity is to change your job and take out the element that you hate. You have acquired skills that are worth 500k, so maybe you can translate that into an adjacent career path and leverage your existing skills?

For a lot of investors it takes 5-10 years to transition from W2 to full time RE investor and if you don't have a passion for being a landlord, you may find yourself hating it. And at that point its not easy to un-invest - takes longer than to quit a job for sure.

I think most of us have followed their passion. When I look back real estate investing and rehabbing houses is akin to games I enjoyed playing as a child. I had to take a 20 year corporate engineering detour to get back to what sparks joy for me. Funny how that works. Hope this helps!