What Is Your Net Worth Or Passive Income Goal?

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Real Estate Agent · Washington, D.C. · Member since 2012 · 17k+ posts · 30k+ votes

This post was just inspired by @Jason Scott who just posted on FB how most people will never achieve $10 million, $100 million net worth etc (and theres nothing wrong with that) (Also, in like a decade on here Ive never been able to tag Jason even though I have super power moderating capabilities).

So I was curious what is everyones net worth goals? Or your passive income goals? My net worth goal is $7 million.

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Bjorn AhlbladPro Member

Investor · Shelton, WA · Member since 2017 · 6k+ posts · 6k+ votes

@Russell Brazil I am 75 so no empire building. I have a net worth of about 4 mil and 8k rental income. I have 2 goals left: 1. never learn to say "Welcome to Walmart" and 2. never learn how to operate a cash register!

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Brad Birky
New to Real Estate · Englewood, FL · Member since 2019 · 24 posts · 21 votes
6y
I am just looking to build a modest passive portfolio that will bring an additional $2000/month. Don’t need a lot - don’t want a lot. Wife and I live in a paid off tiny house just a block from the Gulf if Mexico. Life is good!
8 Reply
Bob Prisco
Specialist · Cleveland, OH · Member since 2018 · 1k+ posts · 666 votes
6y
@Russell Brazil MORE !
1 Reply
Marquelle Smith
Specialist · Ventura, CA (Ventura) · Member since 2019 · 7 posts · 5 votes
6y
My goal is to be over 5 million in net worth. I just want to own some apartments and be able to put that passive income to the side for my wife’s student loans, as well as, my kids when I have them. After than whatever I get, recycle that income and give back to my community.
2 Reply
Steve Vaughan
Rental Property Investor · East Wenatchee, WA · Member since 2014 · 10k+ posts · 16k+ votes
6y
Originally posted by @Erik W.:
My goal is to be content
Yuup, same here.
Content to me is medium FIRE (vs skinny or phat)
Medium FIRE works well with my nap schedule. Not needing to work or withdraw investments. Not anxious during recessions, depressions or quarantine. No thoughts of delaying taxes, forebearance, emergency assistance but still locked and loaded when opportunities present themselves👍
7 Reply
Hud Malik
New to Real Estate · Brooklyn, NY · Member since 2020 · 69 posts · 30 votes
6y
My goal is to live my life on my own terms, $5,000/mo in passive income with no debt. By that time my properties will be paying for my expenses. When I reach $8,000/mo in passive income I will be able to quit my job and live my best life with my wife and kids.
2 Reply
Bill Ung
New to Real Estate · Rosemead, CA · Member since 2020 · 10 posts · 7 votes
6y
My goal by the end of this year will be $500 in Passive income!
I am currently at the starting line but steadily building momentum from learning dail
5 Reply
Eric Koelling
Residential Real Estate Broker · Portland, OR · Member since 2017 · 40 posts · 18 votes
6y
Originally posted by @Jay Hinrichs:
well I got north of 10 million prior to 08 melt down ( ON PAPER OF COURSE).. After meltdown not so much.

goals right now is simply to stack free and clear property.. At my age I dont want debt.. so does not have to be a monster number 3 million in paid for assets Like first trust deeds at 10% plus my SSI and medicare and all my homes paid for that would be a comfortable life I think .. for me we did all our big travel over the last 25 years.. so a nice mountain cabin a little fly fishing.. some sun in the winter.. Gone were the asperations of a private jet.. that was always my number one goal. And i did have a deposit on the Cirrus Jet in 06 when they were suppose to only be 800k.. Well they did not get built until about 5 years ago or so and they are now 3 million.. Any way just musing.

Very impressive as always. As someone who lives nearby in Portland, Oregon, I have a few questions I want to ask you. Is it ok if I message you? Thank you.

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Paul KuhnPro Member
Rental Property Investor · Virginia Beach · Member since 2012 · 70 posts · 34 votes
6y
Goal is “be able” to retire and live comfortably in Hawaii at 45, 35 now (10more yrs till military retirement).
Own a commercial rental property.
Passive income goal not necessary as military retirement should be more than enough, though extra $$$ can be donated to the missionary field.
Work per diem to maintain anesthesia license (worked to hard for this to let it lapse).
Spend maximal time with family and enjoy the great outdoors!
1 Reply
Bola A.
Rental Property Investor · Houston, TX · Member since 2014 · 146 posts · 35 votes
6y
@Jay Hinrichs
My goal is 23 properties in next ten years, two solids class B properties each year for next ten years. Every three years a property will be paid off. In ten years five of the 23 will be paid off. This is minimum of what will happen.
1 Reply
Harrison Sharp
Real Estate Broker · DFW · Member since 2015 · 350 posts · 271 votes
6y
$5,000 per month from REI by 35. Currently 28 and have a negative NW, long way to go but i will get there.
2 Reply
Evan Bonnell
Investor · La Salle, IL · Member since 2014 · 43 posts · 28 votes
6y
Net worth:
$1M by 35
$2M by 40
$10M by 65

96% of the way to my first goal, might get there if the market recovers by birthday in August.

FIRE by age 40 with $10k net monthly income from RE so I can leave stressful corporate life, sell my alarm clock, spend more time with family and shop at Whole Foods without remorse.
1 Reply
Account Closed
Rental Property Investor · Oakland, CA · Member since 2014 · 730 posts · 1k+ votes
6y
@Russell Brazil net worth goal is very arbitrary since we all believe our properties are worth more than they actually are.
My goal is $100k/month net passive. I’m about 20% of the way there but think the growth will snowball this next decade...
0 Reply
Joe Cassandra
Rental Property Investor · Woodstock, GA · Member since 2017 · 517 posts · 772 votes
6y
I'm probably different than a lot of folks on here.
I work for myself outside of RE (in marketing) and honestly enjoy that a lot more than most RE stuff. I love finding deals in RE, other than that, I hate pretty much all of it...
But I know RE is the way to go to build wealth...so I suck it up until I can fund a team to take care of it.
***
Net worth goal:
Goal is to be able to leverage $5M. 7% of that each year is around $350k, which is more than enough for my family and I to live in.
My real goal is to take a few years off and give screenwriting a go full-time. Don't have time to do it right now.
I have zero interest in ever sitting on a beach with a beer and cigar in my hand waiting to die...
1 Reply
Steven Lowe
Real Estate Agent · Scottsdale, AZ · Member since 2019 · 448 posts · 320 votes
6y
Net worth of $20MM.
2 Reply
Luke G.
Rental Property Investor · Hammond, WI · Member since 2017 · 139 posts · 217 votes
6y
No net worth goal, but 16k/month passive income is where I've set my target of being content in where I don't care if I get any bigger. A little over halfway there. In my mind that will double my current W2 salary and still allow me to grow my real estate portfolio while being FIRE. Will still keep my PT license likely as I do enjoy working a couple days a week, I just want the option of not having to work if I don't want to.
0 Reply
JD MartinBusiness Member
Moderator
Rock Star Extraordinaire · Northeast, TN · Member since 2015 · 10k+ posts · 17k+ votes
6y
Originally posted by @Steve Vaughan:
Originally posted by @Erik W.:
My goal is to be content
Yuup, same here.
Content to me is medium FIRE (vs skinny or phat)
Medium FIRE works well with my nap schedule. Not needing to work or withdraw investments. Not anxious during recessions, depressions or quarantine. No thoughts of delaying taxes, forebearance, emergency assistance but still locked and loaded when opportunities present themselves👍

Yup, pretty much my same philosophy (I guess this is why we get along so well 😄)

I don't reveal financials but I already met my financial goal. Now I'm just kind of playing around. Pretty much the same way Steve does, except without the naps - I haven't mastered those very well yet!

I expect to go a couple more years at the day job and then retire. That's my last real working-career goal. Paradoxically, I discovered that the more money I had, the less things I found interesting enough to spend my money on them. For whatever reason, my desires have decreased as my net worth increased. When I was broke as a joke there were all kinds of things I wanted. When I finally had the money to buy them, I found I really didn't want them at all.
There's a Sheryl Crow song in there somewhere!

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10 Reply
Michael K GallagherBusiness Member
Real Estate Agent · Columbus OH · Member since 2018 · 1k+ posts · 1k+ votes
6y
What an amazing question! I'm only about 2 years into this RE journey at 31 years old, so my "practical goal" if you want to call it that is to own 5 duplexes exactly like the one I currently own, use them to pay each-other off and own them free and clear, have a bunch of long term Bad A** tenants and that should net me about 100K/year in passive income. I have no doubt I will get there, should probably put a timeline on it and see how fast I can get there.
The "reach" goal would be 100K/Month passive income. That puts me at about 120 doors according to my last calculations, I believe.
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1 Reply
George W.
Investor · NJ · Member since 2018 · 869 posts · 921 votes
6y
Personally I'd be happy making an extra 2.5-5k a month after all expenses in real estate in the next few years. I already own my own Business that cashflows way more than any real estate monthly I'd ever own. When business is good I invest it further in the business and real estate when I can. Keep the overhead low. Hopefully by the time I'm in my early 30s I'll achieve the upper end of my cashflow goal and have to make a new one.
For me it would be great to have real estate as more of a safety net then trying to live soley off real estate as I dont plan on retiring ever. I like what I do way too much and when I cant physically work anymore I'll continue doing office work for my business and manage the back end.
1 Reply
Roger Hefner
Yuma, AZ · Member since 2015 · 140 posts · 137 votes
6y
@Russell Brazil I'm pretty lazy but somehow got myself 5k month passive income with 10 properties most paid off. Still will buy more but dont go looking just come across. No personal debt. 58 years old stop working for someone at 48..lifes good I do what I want most days.. networth I dont know need figure it out. Like I stated I'm lazy..
8 Reply
Ralph Chiaia
Real Estate Agent · Jacksonville Beach, FL · Member since 2019 · 77 posts · 43 votes
6y
Originally posted by @Todd Rasmussen:
My goal is 25K monthly which means we'll need a net worth around 3.5 mil. Currently 59% (gross scheduled) and 31% of goal, shooting for retirement in twelve years at 45.

Ha ha -- smart man! Your goal and mine are exactly the same except that I'm already 45 and only about 30% of the way there. I'm hoping I accelerate my growth curve quite a bit in the next couple of years.

0 Reply
Gary L Wallman
Rental Property Investor · Beavercreek OH · Member since 2018 · 422 posts · 970 votes
6y
Originally posted by @Account Closed:
Im disappointed. Im figuring you heavy hitters were way past $10,000,000.

Harry,
If it makes you feel better I'm pretty far north of there.
I should be rolling in the cash. The problem is I keep spending my money on more houses. Made another offer an hour ago. Why? I absolutely love it, that's why. Hands on all the way. Not the construction part, the design part. I'm supposed to be retired, but I'm still picking out finishes for rental homes. Like to give people a really nice place to live and love, love, love what I do.
Loving what I do has made me successful. Never, ever felt like work. I threw in a couple of pictures of a recent rental after reno.

13 Reply
Danielle Wolter
Rental Property Investor · San Diego, CA · Member since 2019 · 290 posts · 254 votes
6y
My goal is to have income of $20K/month without having to work for someone else. I enjoy working very much, and run a couple businesses on the side that bring in income, but not $20K worth. I'll probably quit my day job before I hit $20K, as I believe between real estate investments and having the ability to spend more time on my businesses, I will be able to grow it to $20K. Anything above that is just a bonus :-) Not too concerned about the actual net worth number.
1 Reply
Danny Hubbard
Macon, GA · Member since 2015 · 29 posts · 15 votes
6y
With military retirement I only need 2000 a month to be financially free. want to pass down 5 million in assets to my kids.
0 Reply
Tanner Johnson
Member since 2019 · 40 posts · 42 votes
6y
Hi, my goal is a 1m net worth by the time I’m 25. I am currently 18 and just finished building my first property a week ago all with cash. Appraised at about 190k (took about a fourth of that to build it, my secret is I’ve been buying up Material when it was on sale for low prices over the course of the last 2 years since I was sixteen) then i just put it all together. Personally just really wanted to own the first one free and clear and now it’s renting for 1200/m I’m not sure if that was smart or dumb but it makes me feel safe. I’m getting ready to build 3 more identical homes on the same property with leverage over the next 2 years. May have to get creative to reach my goal but getting creative has never been an issue for me. Great topic great answers.
17 Reply
Parin Shah
Rental Property Investor · Chicago, IL · Member since 2020 · 4 posts · 1 vote
6y
@Caleb Heimsoth stocks are nice I’m a huge believer in them as I own them myself.
However real estate provides something stocks don’t.. security or insurance. Also passive income, stocks can crash any day. Everyone needs a roof over their head. I am only in commodities but I’m learning a lot from you guys on this thread. I hope to have real estste soon as I am chasing passive income > capital gains. Once it is paid off the profit is infinity! I want to start with green houses like monopoly then turn into a red hotel!
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