When did you quit your full time job?

Question

I am interested in BRRRR-ing properties and flipping properties. In my view, this is a full time job to achieve a significant level of success. Even if paying contractors and building a team to do 100% of the work, meeting contractors, viewing properties, etc all take time away from a "real" job at best and more likely than not require time during work hours to do these and move quickly and efficiently.

I've had others tell me I'd be a fool to walk away from a secure job to jump in blind. What success have others had when transitioning from a traditional 9 to 5 job to full time real estate investing?

Vaughn Smith · Answer

@Matt Feraco I've heard it said that you should replace your W-2 income for a sustained period of at least two years before quitting.

Mike W. · Answer

I would recommend 2x your current wage income in cash flow before retiring your wage job.

I have a friend that has about 25 doors and was working a plan towards walking away and his company laid him off about 12 months early...he worked it out anyway, just less money saved, and now he continues to do new and bigger deals with partners.