Who is a Full-Time Real Estate Investor?

[Travis Elliott]

First off I hope this is the correct sub forum (BP is over loaded with sub forums)

I am wondering how many BP members live solely off of their real estate. By this I mean a person who doesn't have a job and isn't living off of a trust or some kind of investment other than real estate.

I know only one person personally who is one hundred percent supported by their rentals. He hasn't had since he was twenty and he is in his seventy's now.

[Rich Weese]

Travis
not sure if I understand your request, but I think a lot of your replies are from folks that are having to flip and work real estate to survive. My story is pretty well known on BP and I actually retired and walked away from having to continue working to survive at an early age.

My timeline is as follows:
1. At 19 (67-69)I went to Brazil to serve a mission for the Mormon Church.
2. At 21 married my sweetheart and tried College.
3. At 22, had a janitorial company and obtained CA real estate license.
4.From age 23 to 29 bought and sold real estate. (lots of real estate!!)
5 At age 29 retired to Nipomo CA owning a lot of real estate and 1.6 million in notes. These were the days of 10-12% interest on notes and HIGH inflation. I was receiving approx 17K per month without leaving my home.

Other than a job as a janitor, and working for a Broker for 2 years, I've never had a job. During the last 34 years, I've continued to dabble in RE with my own properties adding more net worth. I've personally owned over 1000 sfrs and thousands of apts, built 75 spec homes, flipped 30+ homes,and started 2 different property management companies for a couple daughters.

I use 3 different management companies to manage properties and a personal assistant to oversee the managers!

In my spare time, I travel: Have visited 105 countries,47 states (last 3 will be next summer), all the continents and taken 43 cruises. I also spent 6 years as fulltime RVer.

Other than "dabbling" in real estate, I've lived off the income generated and properties owned since 1979. Please count me as the second person you know that has lived completely on my real estate owned and income generated. I'm 63.

It is 4 a.m and I've been up 2 hours. I bruised/broke ribs yesterday and difficult to sleep!

For more info on my RE involvement, check the Meet the Investor section on BP and/or see me in Denver for the BP 1st annual seminar in March. Merry Christmas. Rich