BRRRR to slow for me!
I’m a nurse and just picked up
My 12th SFR. These are all amazing B properties in great school districts and I'm holding mortgages on 10 of them. After PITI, Capex, repairs and vacancies( 5%,5%,10%) we are cash flowing $5600 dollars /month. I am grateful for this and we have worked our butts off for the last 6 years to build this portfolio. It's just taking longer than I thought to make my original goal of 10-15k a month just from real estate investing. Im not even sure if I have question, more so just seeing if anyone else every felt like this. I know I'll eventually hit my numbers I just don't want to be in a job I hate for the next 10 more years.
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#4 Starting Out Contributor
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- Milwaukee - Mequon, WI
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#4 Starting Out Contributor
- Investor
- Milwaukee - Mequon, WI
That's a pretty good pace, and I have done a lot of BRRRRs. A lot of people on BP will tell you how they scaled faster, but the part they leave out is that they cut a lot of corners. But if you hate your job, you should change it. That's independent from your REI success.
There is a good chance you won't retire on cash flow. Most of us find a new job after quitting our W2. I lasted about 2 weeks with daytime TV after I quit my corporate job in 2015. So, if you hate your job that bad, I would start making plans to change careers. It may not be easy or quick, but it's part of "designing your lifestyle", whatever that looks like for you.