When can you quit your day job and go RE full time?
At what point can you go full time (be a realtor, work on flips, and manage your rentals)? A years salary saved up? Multiple flips going on with enough rental income coming in?
I have a well paying job (but don't enjoy it....), been a realtor now for a few months, have 3 rentals (positive cash flow of $700 per mo), and have three flips (only working on one at a time). I have a crew of 3-4 guys so it takes 2-3 months per house. I'm working on finding another crew of guys to work on one house while the crew I have now can do one (2 going at a time). I really want to dive into it full time but want to be smart about it. I'm just curious to know what others have used for their criteria.
I'm about to pull a HELOC of $100K on my PM and buy more rentals (then use the BRRRR strategy) to hopefully build up enough passive income in the next couple of years. I have excellent credit and a relatively low DTI.
Any feedback would be appreciated.