Language used to describe Investment levels
Being fairly new to real estate investing I have an odd question...
Are there certain terms or jargon used to describe the steps/levels/scenarios below?
1. Paying for your own mortgage on primary residence and your own living expenses.
2. Owning a rental/s that pay for themselves but still paying your primary residence mortgage and living expenses.
3. Rentals pay for themselves and your primary residence mortgage but not enough to pay your living expenses.
4. Rentals pay all expenses making you even steven.
5. Rentals pay everything and put money in your pocket.
6. All properties paid off and all money coming in is passive income.
How do you describe where you are in this process? Are there certain terms used to describe where you are in your investing journey?