Left my W-2 job for Full-Time Real Estate 18 months ago today...

234 Replies

Great job so far and best of luck! Those numbers sound perfect to me too!!

What is you cash flow target per door? I know you said you already have a small portfolio of SFRs

@Julie Kern

Thanks so much for sharing your story! It’s encouraging and great learning for all of us. I too am interested in the multifamily path, but will probably start with smaller units - 3 or 4 - and work my way up to learn the biz on the way. Excited to see / hear about your progress as well! Are you only looking in GA?

Julie - great story on your successes and plan to move forward. Would like to ask you some questions re: your journey, what is a good contact number or email for you. Thanks - look forward to talking with you. 

Hampton Logan

Julie - Very impressive, and thanks for the outline on where you have been and where you are going. Motivating for me. Good luck

Matt O'Mara

Hooksett, NH

This post has been removed.

This is very encouraging as I plan to quit my W2 next month and live off my RE. It's a leap for sure. Thank you for sharing your story.

Best of luck! Look forward to reading your 50 units done update!

This post has been removed.

@Jacob Allen @Quito Keutla @Alethia Smith - Thank you all so much!!

@Benjamin Gallant - Thanks for the recommendation, and I actually just recently started listening to Joe Fairless' podcast.  Love it!  Have you read his book(s)?

@Michael Ealy - Just read your post.  Wow, what a story!  "and I am not even that smart." :) I would argue that you're humble AND smart.  Very creative approach on that deal!  Thanks for sharing, and thanks for your encouraging words!

@Andrew Hoelzel - Appreciate!  Accountability is huge, which is why I'm speaking our goals out loud to anyone who will listen!! 

@Wave Taylor and @Dan Allen - Thank you!!

@Matthew Nicklin - Thanks so much!  Thought your name looked familiar when I saw it - now I know why.

I love all of this and admire you for it.  I also just want to say, I love the "Bpeeps" .... could be a new trend on here???? 

@Julie Kern Congrats! Love learning other members' stories - great to learn and get inspired.

Julie

Thank-you for your honesty! Its refreshing to me to read your struggle with the TRANSACTION model, as I am fed up with it. It becomes a huge distraction regarding retirement (cash flow for freedom) goals. Ive owned a construction company for 27 years, had my general contractors license for 31 years (Im really not that old :)) and Ive built custom homes and custom remodels for the affluent in san diego. My goal like yours is to own a multi unit whether 12 or 50 units. The SFR makes no sense to me any more as I own 2 that cash flow slightly and will keep in my portfolio. Scaling is the way to wealth. Ive partnered on flips, done spec homes, all of which made money, but not long term money. I would love to team up, whether just through BP's thought sharing or monitoring deals, sharing along the way.

San Diego county is a beautiful place but the 30 or so multiunits ive analyzed must be paid cash in full for any cash flow at all.  Im kinda stuck here.  Ive also looked at Henderson Nevada and the cash influx is still high for the returns.  Where are you concentrating your multi-units? In Georgia? Do you have a mentor? Thanks for reading this!  Dawn

@Julie Kern First...let me say THANK YOU for sharing your journey. It's very inspirational! Second...are you even legally able to drink?!  Your BP picture is stunning! You look way too young to have been at a job for almost 20 years!

Thank you for taking the time to provide those extra details. It's very helpful to folks like me who want to learn from others. Good luck with your goals and hopefully we hear about those 50 units in the near future!

I'm applauding you and slightly jealous at the same time. Hope to be where you are within the next couple of years. Congrats! Keep us posted on how the journey goes!

good luck to you lady all the way thanks for sharing you did motivate me god bless

@John Andrews - Thank you! My main financial criteria (at this point) is 20% CoC return. And per door, with that, I'd be looking for a minimum of $200/door. I'm sure I'll tweak as I go along, but that's my starting point.

@Kyle Neff - Thanks Kyle! I'm actually open to smaller multi-family properties also, although I'm a bit lazy and prefer to do less transactions :) And I'm looking for anything within a 5-6 hour driving distance of where I live (just outside of Rome, GA).

@Hampton Logan Thanks so much!!  My contact info is in my signature.  Would love to chat!

@Matthew OMara Thank you Matt - appreciate it!

@Jennifer Joseph - Thank you and congrats to you!  How many rental properties/units do you have?  Are you flipping/wholesaling also? 

@Richard Lovering - Thank you!!

@Julie Kern 

Hi Julie, Thanks. I'm super excited.  I have 8 SFRs and have a triplex under contract. I live in Ohio where living expenses are much lower than other parts of the country. :)  I am just buying rentals currently. Once I can work on RE full time I will explore some other options.

@Nate Sanow - Aww, thanks so much! 4 years ago I would never imagined that I would be full-time in real estate now, and definitely not making the move to multi-family. Just continuing to take that next step can pay big dividends. AND surrounding yourself with rock star investor friends, many whom I met here on BP. And B-Peeps - who knows?? :)

@Houston Garcia Thank you sir!!

@Dawn Matze Wow, good for you!  I would LOVE to hear your story! Give me a call or shoot me an email (contact info in signature).  I don't have a mentor, per se, but I've got several folks who are many steps ahead of me that I'm learning from, who are kind enough to help educate me.  My search for multi-family will be concentrated in the Southeast.  I'm looking for apartments, mobile home parks and even self-storage (although I don't know much about self-storage at this point).  Would love to chat sometime!

@Ashley Patton Well, you just made me realize that I need to update my profile pic.  It might be *slightly* outdated. :)  And thanks so much for the encouraging words!!

@Joel Fine Thanks Joel! I truly appreciate and I will definitely post updates.  That's my way of staying accountable!

@Roger Mohnani Thank you and God bless you as well!  

Thank you for taking us along on your journey. Hearing others making it by leaving the rat race is always great motivation! @Julie Kern

Julie,

Congrats on taking the leap out of the office chair and finding success in real estate!  Just wondering if you have considered any other sectors of the real estate market besides MF.  For instance, what about multi-tenant flex industrial, or multi-tenant retail strip centers?  If so, why did you choose MF?

Regards,

Troy

You go girl! Glad to hear it! 👏

Congratulations! You're doing great things for the community and your family - keep on at it!!

@Julie Kern

I appreciate your time in writing this article. I own 3 SFRs in northern OH that are cash flowing as I live in Los Angeles but would like to accelerate my timetable to quit my job as you have been able to do. I’ve wholesaled as well and don’t mind it but multifamily I think is where I need to be to accomplish my goals as I approach 40 the end of the year. 

Your honesty and self-awareness is key imo in evaluating where you are, knowing your why and setting your goals for the remaining 11 months(can’t believe Jan is gone already) in the year. 

My goal is raising capital for my first multifamily deal as well putting it together and using both the acquisition fee and cash flow so I can walk away from my W-2 as well. 

Again, thanks for the read and know you’ll hit your goals! 

Mike McCoy

Free eBook from BiggerPockets!

Ultimate Beginner's Guide Book Cover

Join BiggerPockets and get The Ultimate Beginner's Guide to Real Estate Investing for FREE - read by more than 100,000 people - AND get exclusive real estate investing tips, tricks and techniques delivered straight to your inbox twice weekly!

  • Actionable advice for getting started,
  • Discover the 10 Most Lucrative Real Estate Niches,
  • Learn how to get started with or without money,
  • Explore Real-Life Strategies for Building Wealth,
  • And a LOT more.

We hate spam just as much as you

Create Lasting Wealth Through Real Estate

Join the millions of people achieving financial freedom through the power of real estate investing

Start here