Rental Property Investor · Chicago, IL · Member since 2015 · 275 posts · 271 votes
I have often wondered what is rich or well off? I am talking about purely passive income from rentals.
Yes it is subjective and will depend on the individual but I was wondering what the BP community thinks. Would love to hear some input.
In mind there are 3 stages
1. What you need to live on to meet a decent quality of life?
2. What do you want?
3. What are your dreams? The number for dreams can be way to crazy and high. So would love find out what some of the fellow BP contributors consider good. Is there an average?
Rental Property Investor · Durham, NC · Member since 2016 · 7k+ posts · 7k+ votes
9y
On a recent BP podcast the speaker said he has 400k a year in net cash flow, on about 95 SFR. To me that's rich and well off. Personally, I hope to be in the 25-30 SFR range eventually and about 100k annually in passive cash flow
Kalispell, MT · Member since 2016 · 22 posts · 14 votes
9y
1. To cover expenses would be $2000 per mo, but to live on and still go on trips, save, etc would be more like $2700 per month.
2. $12k per month to replace salary
3. I'd like to gross $1M per year.
Rental Property Investor · Durham, NC · Member since 2016 · 7k+ posts · 7k+ votes
9y
On a recent BP podcast the speaker said he has 400k a year in net cash flow, on about 95 SFR. To me that's rich and well off. Personally, I hope to be in the 25-30 SFR range eventually and about 100k annually in passive cash flow
Rental Property Investor · San Diego, CA · Member since 2013 · 3k+ posts · 4k+ votes
9y
$15k/month to keep lights on
$20k/month for nice lifestyle
$50k/month for desired lifestyle
$100k/month for desired lifestyle + ammo for new Property
$250k/month target to stop working completely