The amount of rental income you need to net per month to quit your job will depend on your individual financial situation and lifestyle. However, as a general rule of thumb, you will need to have enough rental income to cover your living expenses and also any outstanding loans or mortgages on the property, such as property management, repairs, and maintenance.
To calculate the amount of rental income you need to net per month to quit your job, you'll need to start by figuring out your living expenses. This includes things like rent or mortgage, food, transportation, insurance, utilities, and any other regular expenses you have. Once you have a total for your living expenses, you can then subtract that number from the total rental income you expect to receive from your properties.
It's worth noting that there are other factors that could affect your decision, such as the number of properties you own, the stability of the rental market and your risk appetite, so it's not just about the net income but also the overall financial stability and cash flow.
It's always important to have a financial plan and consult with a financial professional to evaluate your situation and guide you in making the right decision.
