Updated almost 10 years ago on . Most recent reply
1st Post - When/how to step away from your day job
I've been on biggerpockets for over a year and this is my first post/question: How do you step away from your normal day job and start investing full time? I know this is a very, very vague question that varies from person to person, but for the people who have made the transition into a full time investor, at what point were you able to do it?
Background - I'm 26 and currently have a SFH, Duplex, and Townhouse all at about 70-75% LTV with a net cashflow of 1500/month. I run my personal finances like a business and am generally pretty frugal and although I make over 6 figures at my job now, I am not concerned about investing full time and netting out less income to start.
I've thought about flipping a house or two or three, picking up some extra cash and getting into a larger multi family, and repeat until I have consistent income to support my 'business'....
Once you are out of a W2 job, what income do you show to continue investing in non commercial property? Any advice is much appreciated!
Jeremy