Officially Financially Free at 32 !! - Exciting Day!

Investor · Kansas City, MO · Member since 2017 · 791 posts · 1k+ votes

My first real estate investment was in 2010. I kept acquiring properties, sometimes using the BRRR strategy. I've been without a day job for 1.5 years looking for more deals and got a couple large portfolios in 2016. That hit our passive income goals but we had to recoup cash buffer.

It's officially official, we are free and neither of us have to work!

Looking forward to living life with my wife and both of us being able to do what we want when we want.

Celebrating with a well aged cigar from the year it all started. And some of my top shelf bourbon.

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Matthew DeMartile

Suisun City, CA · Member since 2017 · 2 posts · 8 votes

From someone who is just scratching the surface education, not even investing, congratulations to you and your wife's success both now and in the future. This was certainly an inspiration to read.

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Caleb Heimsoth
Rental Property Investor · Durham, NC · Member since 2016 · 7k+ posts · 7k+ votes
9y
How many units do you have ?
5 Reply
Elizabeth Wilson
Real Estate Investor · Memphis, TN · Member since 2016 · 940 posts · 695 votes
9y
@Austin Fruechting - Super Congrats!!
For those of us still on that journey, what would you say were your top three strategies for finding deals?
Best of luck with your next adventures! :)
4 Reply
Austin Fruechting
OP
Investor · Kansas City, MO · Member since 2017 · 791 posts · 1k+ votes
9y
@Caleb Heimsoth - In total I have 107 rental units across 49 properties ranging from single family homes to a 24 unit complex (2x12) and everything in between. I have some investors along on some of deals. My ownership equates to 70 units.
47 Reply
Justin Owens
Real Estate Agent · Gilbert, AZ · Member since 2016 · 220 posts · 122 votes
9y
Congratulations! !!
0 Reply
Philip H.
Cary, NC · Member since 2017 · 8 posts · 7 votes
9y
Congrats, and finally someone that knows what a good cigar is!
5 Reply
Austin Fruechting
OP
Investor · Kansas City, MO · Member since 2017 · 791 posts · 1k+ votes
9y
@Elizabeth Wilson - I do buy and hold. A lot just came from on market deals. A few from just making connections and they would send me opportunities (bankers, property managers)
My biggest deals came from doing a tax search (which I always do) on one property I had some interest in. I saw who the owner was and knew he owned a LOT of properties so selling one seemed like a red flag given the property. So I found someone to give me the seller's cell number and called him to ask why he was selling. He said over the next 3-5 years he was going to be unloading everything to retire and move to Florida. So we ended up doing a large package deal at a great price and it was a win-win.
50 Reply
Matthew DeMartile
Suisun City, CA · Member since 2017 · 2 posts · 8 votes
9y
From someone who is just scratching the surface education, not even investing, congratulations to you and your wife's success both now and in the future. This was certainly an inspiration to read.
8 Reply
Austin Fruechting
OP
Investor · Kansas City, MO · Member since 2017 · 791 posts · 1k+ votes
9y
@Philip H. - haha! I'm a bit of a cigar nerd. Couldn't decide between this and a Cuban Montecristo Gand Edmundo (their edicion limitada 2010)
2 Reply
Philip H.
Cary, NC · Member since 2017 · 8 posts · 7 votes
9y
@Austin Fruechting Very nice. Some good cigar stores in KC
0 Reply
Austin Fruechting
OP
Investor · Kansas City, MO · Member since 2017 · 791 posts · 1k+ votes
9y
@Matthew DeMartile - thanks man. Stick with it! It starts slow but I believe anyone can get there within 10 years if the do things right.
5 Reply
David Faulkner
Investor · Orange County, CA · Member since 2015 · 2k+ posts · 3k+ votes
9y
Nice! Congrats!! Did your wife by chance use any of these methods to quit her job? :)
https://www.youtube.com/watch?v=KonQoIqOPBI
2 Reply
Kimberly Garrido
Tempe, AZ · Member since 2017 · 27 posts · 8 votes
9y
Austin Fruechting This is so inspiring and amazing!!! This is my goal in life! Big congrats
0 Reply
Samir Shahani
Investor · Easton, PA · Member since 2017 · 131 posts · 102 votes
9y
Congratulations!! I'm so looking forward to the day I can make the same statement. How do you finance your deals?
2 Reply
Austin Fruechting
OP
Investor · Kansas City, MO · Member since 2017 · 791 posts · 1k+ votes
9y
@David Faulkner - HAHAHAHAHA! That was a good laugh, but no. She put in her resignation today but may still work for a while. There are some exciting things going on her company she may want to see through just for personal satisfaction. It would have to be with a restructuring where she doesn't have to deal with the mundane nonsense anymore and work on just the strategy parts she enjoys for the next few months until things come to fruition. She meets again with the CEO on Monday to really strategize out and make a decision.
But regardless her resignation is in! She's completely free to leave or to just work only because she wants to.
8 Reply
Austin Fruechting
OP
Investor · Kansas City, MO · Member since 2017 · 791 posts · 1k+ votes
9y
@Samir Shahani - Started with traditional loans and have used the same portfolio lender from the beginning. As time went on they started doing some very special loan packages that required less down. I'm one of less than a handful they do these deals for. If you find the right lender that makes their own decisions, and you do things right along the way, special deals can be had.
21 Reply
Aaron HowellBusiness Member
Real Estate Agent · Crozet, VA · Member since 2014 · 436 posts · 223 votes
9y
Free at last, Free at last !
Story House Real Estate529 Reviews
Website View Page
3 Reply
David Faulkner
Investor · Orange County, CA · Member since 2015 · 2k+ posts · 3k+ votes
9y
Originally posted by @Austin Fruechting:

@David Faulkner - HAHAHAHAHA! That was a good laugh, but no. She put in her resignation today but may still work for a while. There are some exciting things going on her company she may want to see through just for personal satisfaction. It would have to be with a restructuring where she doesn't have to deal with the mundane nonsense anymore and work on just the strategy parts she enjoys for the next few months until things come to fruition. She meets again with the CEO on Monday to really strategize out and make a decision.
But regardless her resignation is in! She's completely free to leave or to just work only because she wants to.
Yeah, that is probably the classy and smart way for her to quit, but those other ways on the video are WAY funnier. LOL. When she meets with the CEO on Monday, I bet they offer her more money if she stays ... employers are like banks, once they figure out that you don't need them it only makes them want you more.
1 Reply
Matt Trigwell
Investor · Dallas, TX · Member since 2017 · 16 posts · 4 votes
9y
Congrats!! @Austin Fruechting living the dream mate.
0 Reply
Austin Fruechting
OP
Investor · Kansas City, MO · Member since 2017 · 791 posts · 1k+ votes
9y
Originally posted by @David Faulkner:
Originally posted by @Austin Fruechting:

@David Faulkner - HAHAHAHAHA! That was a good laugh, but no. She put in her resignation today but may still work for a while. There are some exciting things going on her company she may want to see through just for personal satisfaction. It would have to be with a restructuring where she doesn't have to deal with the mundane nonsense anymore and work on just the strategy parts she enjoys for the next few months until things come to fruition. She meets again with the CEO on Monday to really strategize out and make a decision.
But regardless her resignation is in! She's completely free to leave or to just work only because she wants to.
Yeah, that is probably the classy and smart way for her to quit, but those other ways on the video are WAY funnier. LOL. When she meets with the CEO on Monday, I bet they offer her more money if she stays ... employers are like banks, once they figure out that you don't need them it only makes them want you more.
For sure. But it wouldn't be about the money. They could double or triple her salary and she'd still be out. It would just be about if she wanted to see some of the major stuff in process through. But even for her to want to do that there'd have to be a major shift. I would foresee maybe a 20 hour a week thing in just a strategic roll for a while. She puts in at bare minimum 60hr/week now. She's ready to figure out who she is outside of work and have a life!
EDIT TO ADD: I probably would have left in a dramatic fashion like that though! It's not like references another job is needed! LOL
2 Reply
David Faulkner
Investor · Orange County, CA · Member since 2015 · 2k+ posts · 3k+ votes
9y
Originally posted by @Austin Fruechting:
Originally posted by @David Faulkner:
Originally posted by @Austin Fruechting:

@David Faulkner - HAHAHAHAHA! That was a good laugh, but no. She put in her resignation today but may still work for a while. There are some exciting things going on her company she may want to see through just for personal satisfaction. It would have to be with a restructuring where she doesn't have to deal with the mundane nonsense anymore and work on just the strategy parts she enjoys for the next few months until things come to fruition. She meets again with the CEO on Monday to really strategize out and make a decision.
But regardless her resignation is in! She's completely free to leave or to just work only because she wants to.
Yeah, that is probably the classy and smart way for her to quit, but those other ways on the video are WAY funnier. LOL. When she meets with the CEO on Monday, I bet they offer her more money if she stays ... employers are like banks, once they figure out that you don't need them it only makes them want you more.
For sure. But it wouldn't be about the money. They could double or triple her salary and she'd still be out. It would just be about if she wanted to see some of the major stuff in process through. But even for her to want to do that there'd have to be a major shift. I would foresee maybe a 20 hour a week thing in just a strategic roll for a while. She puts in at bare minimum 60hr/week now. She's ready to figure out who she is outside of work and have a life!
EDIT TO ADD: I probably would have left in a dramatic fashion like that though! It's not like references another job is needed! LOL
Yeah, not saying she should accept more money to stay on, only that they will probably offer. I hope you guys have a nice vacation planned and a transition plan in place for when she returns. As strange as it may sound and as wonderful as it will ultimately be it may be a tough adjustment for her into early retirement after the routine of putting in 60 hr/week for years ... be prepared for that and support her through the transition, which I'm sure you will.
2 Reply
Lennon Lee
Rental Property Investor · Miami, FL · Member since 2015 · 179 posts · 292 votes
9y
Congratulations Austin. It's very impressive what you and your wife have been able to accomplish in such a short period of time.
All the best!
1 Reply
Derek Persuit
Investor · Fort Worth, TX · Member since 2017 · 43 posts · 7 votes
9y
Congrats man!!! Great to see goals achieved and true financial freedom brought to reality. Hope to be there along side you someday.
2 Reply
Austin Fruechting
OP
Investor · Kansas City, MO · Member since 2017 · 791 posts · 1k+ votes
9y
To everyone I didn't tag, thank you for the congrats! If anyone has any questions about anything let me know. REI is awesome! We didn't have any leg up and only graduated college with some student debt. I want to help in any way I can because I know anyone can do it if they study, have a big enough "why" and keep plugging!
16 Reply
Luc Boiron
Specialist · Toronto, Ontario · Member since 2016 · 564 posts · 425 votes
9y
@Austin Fruechting Congrats on living the dream! What you have reached is my goal as well, though I still have a ways to go.
Congrats again to you and your wife!
0 Reply
Jerry Evans
Investor · Minneapolis, MN · Member since 2017 · 23 posts · 7 votes
9y
Austin Fruechting that is amazing and super inspiring!!!!! I am 22..23(tomorrow) and I hope to have that option 10 years from now!! Congrats man, job well done!
2 Reply

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