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Updated about 9 years ago on . Most recent reply

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John Warren
  • Real Estate Broker
  • 3412 S. Harlem Avenue Riverside, IL 60546
5,081
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6,032
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Everyone thinks we are crazy!

John Warren
  • Real Estate Broker
  • 3412 S. Harlem Avenue Riverside, IL 60546
Posted

We decided to take the plunge. A year ago my wife and I outlined three different plans we could take to start investing. We were all set to go with a very conservative plan when some very unsettling events happened involving my employment. Although I am still employed, we decided to execute our "crazy" plan so that we would never have to feel tied to a job in the future.

Step 1- Sell our home in a beautiful suburb for around 100k in profit. We have owned for three years, and I have rehabbed the whole place.

Step 2- Sell our extra car for 9k.

Step 3- House Hack! Thanks @Brandon Turner and @Josh Dorkin for inspiring us to make this step. We almost did this anyway before I found BP, but you guys helped us believe that this could/should happen!

Step 4- Immediately purchase another multi family property! This would bring us to three income properties in one year! (we already own a four unit nearby).

Step 5- Use the savings from living frugally to rinse and repeat!

So are we insane or does this look incredibly exciting?!

  • John Warren
  • Most Popular Reply

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    50
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    James G.
    • Palm Beach Gardens, FL
    7
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    50
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    James G.
    • Palm Beach Gardens, FL
    Replied
    Now that is taking action! I'd love to hear updates!

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