We will be sitting down and running a strict budget this weekend and looking at all areas to trim the fat.

This was just the first one, there will be more.Remember….Pigs get fat, hogs get slaughtered.

Same with the one I optioned at 5.5 million owned for years.. and hopefully my grand kids will be saying grand pa was smart he bought this stuff years ago and now we are going to get fat trust accounts.. thanks grandpa.

Bottom line: pigs get fat, hogs get slaughtered.

Thanks Jay,We couldn't be where we are today without your help over the years.I want a fat dinner from you heheWe can bring the girls and let them chat while we talk biz :)Speak soon mate

That said, I have not yet sold a rental property so I have not experienced the high of getting a fat check at closing.

Most of my op expenses on rentals run about 36% self-managed,  50% with a PM but I've had $30k outflow months so need a fat EF. 60% works for us but we live pretty modestly and don't have a mortgage. 

Again barriers to entry are steep but finding tenants and getting a nice fat rent check is very possible. 

My goal is to hopefully one day retire with that big fat nest egg, major equity and cashflow coming from all angles.

Hi Renee,If you income has been below the IRS filing threshold amount for some time, and the $300,000 has fallen to you tax free (like a one time thing in your life) it might be smart to NOT take a big risk with it, and pay cash for the house and live off the rental income (and pay tax on that income if you have to).If you start breaking the $300,000 up as down payments on several places, and take out loans out and things go bad, you could lose the additional homes, and the bank will get the $300,000 you used as down payments leaving you with nothing.Somebody once said pigs get fat hogs get slaughtered, and that's something that someone with history lower income should think about.But if you want to borrow, and can find a lender then go for it.