My first rent check deposited into my bank account today!!!

21 Replies

It was a crappy day at work, working a job that is not what I want to do for the rest of my life... but then... The first rent check on my first rental unit deposited into my bank account today. And it suddenly seems possible that maybe one day I'll be able to quit my day job and do what I truly love.

Since my cash flow is $250 a month and I could live in my home town comfortably for $2,000 a month... I only need 7 more deals just like this one.

Today was a good day!

That's Fantastic news.

I would shoot for 10 deals like that.  

that way you can account for vacancies.  

Keep up the great work and keep growing.

That's awesome Wendy, good for you. I know all to well about being in a job that's not what you want.

Wash rinse and repeat congrats on the cash flow :)

Good for you!! Feels good don't it??

                                                      

Thanks everyone. It feels very good @Chris K.  and @Ronnie Boyd ! @John Van Uytven 

- I'm all set to buy #2 at the end of 2014. The goal is definitely more than 7 but 7 is my breakeven point for walking into my boss' office to say "I quit". My pension pay out will be enough for #8 and #9. Any additional cash flow will go towards #10, and onwards and upwards from there. I am 100% committed to my goal - my current job pays well and I live cheap so every cent I can spare is going towards REI.

Congratulations! That is awesome!

What you describe is what got me to 5 houses in less than 3 years with another 2 projected in 8 month. 

Congrats! 1 step closer to financial freedom!

Woohoo! Congrats Wendy! :)

Congrats!  Love when people take a proactive approach to retirement.

Congrats! I got my first check last year and it felt amazing!

Is the $250 cash flow after setting aside some money every month for expenses?

I'm glad that you're looking at it this way. I know so many people that have one or two rental houses and they mention that they're happy with the rent coming in, but they aren't looking to buy more. I always ask them why they don't keep buying. 

Buy another one and keep going! Good luck.

That's awesome! Keep it up and you'll be able to quit in a couple years.

Congratulations Wendy!!!

Congrats, rent day is also my favorite day of the month.

Congrats, nothing like a little cash flow to brighten up the day ;) 

Congratulations! Sounds like you have a good plan.

Congrats!......on to the next one!

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