@Ezichi Oha . Probably a little fear, as my W2 is really high and also health ins is crazy expensive. One year we had $25,000 out of pocket AFTER our monthly premiums monthly! I am working to flip and save cash reserves as I paid off massive debt but would feel better building some cash reserves. I am only 52 1/2 and wife is 50 so if we live a long time, we need a cushion. Trust me, I have goals and trying to get there. This virus is unknown and my unit are largely college units. If colleges keep shut down will be impossible to rent them.
@Todd powell I see what you are trying to do. Your Health Insurance is very expensive
Congratulations on your success! Did you buy these properties in Lebanon PA or Lebanon the country???
Congratulations for everything you have accomplished so far!! It appears you have achieved everything through your hard work.
More importantly, it appears you have really good relationship with your grown children (I have a rich uncle who prioritized money over the relationship with his children and he hasn't had a relationship with his only son & his grand-children over 10 years. It's very sad to watch).
I find you extremely generous by sharing so many details of your path. It's inspiring, motivational and educational.
I have taken last 2 years off doing what I have been always wanting to do, reading, hiking, and playing tennis 5 days a week (now my joints are screaming). My hubby wants to retire like me but someone has to carry Health Insurance torch by working W-2 job so I understand your quagmire 200%. My hubby hopes to work 32 hours a week (4 days a week) and get a pay cut when he turns 55 in 5 years and do what he wants to do 3 days per week and then retire when he turns 60 completely. I am so sorry you don't have that flexibility, however, it seems your W-2 is a Golden-handcuff and not a miserable job which makes you a very lucky person. Thank you again for all the details shared!
@Casey Rolland thank you for your thoughtful response!! I love my kids and grandbaby over Any amount of money. I grew up an only child and parents got divorced when I was in the 6th grade, so my family has always been my priority in life. This COVID has been interesting has many of my properties have college close so I am hoping we can get through this crisis. My W2 might be getting rough in the car biz so it may be even more brutal. We shall see. Have a great day and thanks again.
@Angel R. Have flipped some in Lebanon and bought, rehabbed, rented, and re sold a 5 plex in Lebanon. And this city is 30 minutes away from me in Oregon! :)
Hi @Todd Powell
Where are you looking to flip homes? I have a couple in the pipeline. They are up in western wa. Could use a partner on them.
@Todd Powell. UPDATE: I know have been forced to remove the golden W2 handcuffs due to COVID19. I have been laid off with minimal chances of being brought back.
My employer never liked the fact that I invested in RE, but its exactly what will keep me afloat now in this unprecedented time. Thankful for my RE investing over the years.
@Todd Powell , you definitely have this based on what I've seen here! Best of luck!
@Jason Oberweis . I have a large college based pool of rentals so I need schools to announce they are coming back in the fall. Also looking for flips to tide me over. Feels good to be free, but COVID is not helping.
UPDATE: I posted this 5 months ago and a left wing anti landlord contacted my employer and told them that I was wanting to quit within a couple years. Well, my boss never liked that I had real estate and I got let go in my W2 position which I made a lot of money. Now, 4 months later leaving my W2 job, I have two flips going and buying my 3rd but I am missing structure and can’t tell you what day it is. Thus, I am taking a W2 job beginning Aug 5th. Maybe crazy but I think it will give me more peace and balance. Am I weird ?
@Todd Powell no, I don't think so, but what was your thought process about jumping right back in to W2 vs... taking a month, 6 months, a couple years? Just curious. (And really inspiring what you've accomplished - hence why I'm interested!)
Unbelievable Todd, can’t believe someone would do that but may be a blessing in disguise getting pushed outside your comfort zone. And getting a taste of what answers you were looking for when you started this thread. Congrats on the flips!
Stumbled upon your story and let me say it is very inspirational and I hope to be half as lucky/blessed as you..Thank you for that, it was kinda just what I needed to lift me back up and get back to self educating myself to do better. Hope you find a peaceful point to step back and enjoy the fruits of all your hard work!
@Nicholas L. I think the lack of proper insurance for my wife and I was one concern. The rent mandates and COVID was another. I am 53 years old now and my past posts I never considered a virus could shut the world down like it has. Lastly, this new position totally fits my real estate interests and I can still keep my RE passions! One door shut and another one opened. I need a structure in my life and look forward to Aug 5th start date.
@Andrew Sime yes, it came two years early, but COVID changed my mind to only do RE. Interesting times for sure
@Ryan Hall that post was 5 months ago but dont know if you saw my update today, I have left my W2 and got let go. Also posted today “BP got me fired”. Its all a good thing though and hoped I did inspire a little. Take action and lack no fear! If you never take a step, you will never walk.
@Todd Powell , in looking through the thread of posts from past several months, it sounded like you had a lot of "college exposure." Is that accurate? How has/is COVID impacting you from that standpoint?
On a side note, I am a PNW native but now live in TX...much, much better here. LOL
@Dennis M. Update, Saturdays are done forever now. I posted today in BP “BP post got me fired”. Yup, it was this very one. Haha
@Todd Powell , wow, that is pretty crazy someone would do that! At least you had the real estate to cause you not to panic and find something that better fits with it! That's what it's for :)
@Todd Powell I can’t believe somebody took your inspiring story and turned it into a negative to hurt you by contacting your employer. What is this world coming to these days where you can’t even post an uplifting story in fear it might turn against you. Well I don’t know about anybody else here but your story definitely helped me find the light again to really get back into this whole heartedly. I want to thank you for what you wrote/posted. But maybe it will end up being a good thing that you were fired/let go and it will open up some other doors that you might not have even thought of..All depends on how you look at it. But I hope it all works out for you in the end. Thanks again and good luck with everything￼￼￼￼
Awesome! Thanks for sharing. This is very inspiring
Off topic, man its so good to hear story you and son have same investing interests and that is rare, hope i will have son like yours in future.
@Luka Friganovic thanks, doing deals with my son has been cool. He earned his own wings and has done some good things and turns 29 tmr as a matter of fact. My best memory is not doing RE with him but it was coaching him in basketball and doing 3 Spartan races in 2019 and achieving what they call the TRIFECTA and doing the BEAST in Aspen, Co. I faced every emotion and broke down but made it through at 52.
@Jeff Castro thank you kindly sir. My heart was truly in the right place!
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