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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Jonathan R McLaughlin
Rental Property Investor · Boston, Massachusetts (MA) · Member since 2016 · 2k+ posts · 2k+ votes
6y
@Tanner Johnson now that is an impressive accomplishment. Wish I could vote this up a bunch.
0 Reply
Josiah Patrick Zebarth
Rental Property Investor · Denver, CO · Member since 2019 · 76 posts · 70 votes
6y
@Russell Brazil
My Passive income Goal is 10k a month to retire from actively working a day job (unless I want to :) and then 1.25mil per year passively. That I could retire on, vagabonding, laughing and choosing the better path.
Best,
Josiah
1 Reply
Mayne .Williams
New Haven, CT · Member since 2020 · 16 posts · 15 votes
6y
For passive income I am looking to match my current active income. Then I after that I would like to double it. For Net worth I am looking to achieve $1 Million.
1 Reply
Scott L.
Broomfield, CO · Member since 2012 · 47 posts · 43 votes
6y
My goal is to grow the return on equity cashflow from 3.7% to over 6%.
It’s easier said than done. I’ve been working on this for 2 years and have increased cashflow .5%
0 Reply
Chinmay J.
Investor · Northern, VA · Member since 2016 · 1k+ posts · 904 votes
6y
Mine is $4 mill. That will allow me to retire with enough monthly income in retirement, which is about 25 yrs away. I think it Will be way past that in 10-12 yrs.

No wife.. No kids, and very little debt (other than mortgages on the propetties that I own). We are talking like under $10K - and I plan to keep it that way...
2 Reply
Account Closed
Investor · Miami, FL · Member since 2020 · 4 posts · 1 vote
6y
My first goal is to get two houses this year that cash flow at least $5k/year (-cap x). My freedom goal is to cash flow $7k/month. I have a freedom spreadsheet where I input my current outflow vs current properties and it counts down to my freedom.
0 Reply
Jill Iwanski
Rental Property Investor · Marshfield, WI · Member since 2019 · 18 posts · 37 votes
6y
Our goal when we started in the investment property business 3 short years ago was to have 30 doors in 20 years, when we would have hit retirement age. We started by purchasing a quadplex. A year later we found a nice little duplex. Follow that a year later by putting together a deal on a 28 unit complex. Because we have we hit our 20 year goal in 3 years we were forced to up our new goals to 100 doors in 5 years for now. We have a plan in place to meet these goals. “Plan the work, work the plan”.
6 Reply
Mary White
Rental Property Investor · Klamath Falls, OR · Member since 2016 · 146 posts · 213 votes
6y
We're looking for $10 Million in Net Worth and $2 million in the Stock Market. Our goal is to improve the communities we invest in and spend the second half of our lives traveling and doing philanthropy.
2 Reply
Natasha Ostrem
Realtor · MT · Member since 2019 · 5 posts · 5 votes
6y
@Caleb Heimsoth
Nice to see others with big goals. Mine are so big, I write them down in private and hide the paper lol
2 Reply
Allen Ho
Real Estate Investor · Azusa, CA · Member since 2017 · 2 posts · 1 vote
6y
Stage 1 - $5000/mo passive net in 2 to 3 years(40%+ there now); Stage 2 - $25k/mo and leave work force before hitting 55 and indulge in some fun cars (not exotics, but fun ol' skool stuff I never got to get when younger i.e. Honda Type-R, Audi S4, Mustang with a V8!, etc. Technically, I can get those now, but I don't want to spending income on devaluing items, need passive income to play, also while able to enjoy); Stage 3 - Assets are f & c, set the next generation up so they don't have to worry about making a living, be able to cover for healthcare costs, and be able to spend time helping/caring/growing for both preceding and following generations.
1 Reply
Tanner Johnson
Member since 2019 · 40 posts · 42 votes
6y
Originally posted by @Jonathan R McLaughlin:
@Tanner Johnson now that is an impressive accomplishment. Wish I could vote this up a bunch.

Thanks man. Just being very patient waiting for really good deals on materials probably saved me 50k trust me it was hard pretty much allocating all of my cash I was making and no one else understood the point. Super happy I did it because it gives me a great foundation to grow. Thanks for the positive feedback its good to hear.

0 Reply
David Whittington
Investor · Riverview, FL · Member since 2015 · 6 posts · 5 votes
6y
I'm not so concerned with net worth as long as it is not negative and I'm not over leveraged. I plan to retire from the military in 5 years. My military retirement should be enough to provide for my living expenses while I grow my real estate portfolio and passive income. I will put everything in excess of my military retirement back into growing my passive income for 5-10 years after I retire from the military. We will also house hack to decrease our monthly expenses until we reach our monthly financial goal. The ultimate goal is to grow passive income to $20,000/month. Once we hit that goal, we will reassess our goals. As of right now were are living on 50% of my monthly income. This is for two reasons: 1. so we can prove to ourselves we can live off the same income I will make in retirement income. 2. since my wife is not 100% sold on real estate investing she wants us to have something other than my military retirement income to fall back on.
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Patrick McGrath
Rental Property Investor · Westminster, MD · Member since 2014 · 165 posts · 221 votes
6y
My first goal is $10k passive income by 35 and we are currently sitting at $3700/month with 2 years to go. Net worth goal of 3.5million with $20k passive income by 40, currently at $350k.
Need roughly 40 doors at are average rent to get there and we will be at 10 doors in 2 months.
2 Reply
John Collins
Investor · Tx, GA · Member since 2019 · 313 posts · 337 votes
6y
Originally posted by @Scott Passman:
My goal is to hit $5,000/month of income from real estate so I can reduce down to part-time at my main job in order to have more time with my family. I want to create a life for myself where I can be flexible with my time so I don't have to miss my children's games, recitals, etc. I want to be there for as much as I can with my kids!

To be clear , you mean $5k in positive cash flow, right?
0 Reply
John Collins
Investor · Tx, GA · Member since 2019 · 313 posts · 337 votes
6y
I don't see things in terms of net worth, it's a word to make your junk feel bigger at dinner parties. When assets aren't liquid, I don't give them the same value as liquid cash. We can see in this economy how important cash and flexibility are, what is the point of a $400k home you can't get off the market?

The goal has always been to make good deals when you see them, don't force anything, and by 50, have $100k/month incoming on paid off properties. Anything more would be flip deals or hold deals for cash, not rent, focused on farmland and helping young farmers. Interest free loans, free equipment and access to land with option to buy, etc.
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Scott Passman
Rental Property Investor · Batavia, IL · Member since 2018 · 452 posts · 672 votes
6y
@John Collins Correct. I meant that to mean 5k/month that I would use to supplement my income that is after expenses and budgeted items. I really would only need to hit $3k/month in positive cash flow to replace necessary income but my goal is to give myself plenty of flexibility and not jump out of my full-time job too early. Ideally, RE would not only supplement my income but also use the additional cash flow to increase capital to re-invest back into more real estate.
1 Reply
Kenneth GarrettPro Member
Investor · Florida Panhandle/Illinois · Member since 2016 · 4k+ posts · 3k+ votes
6y
@Russell Brazil
My number changes as my goals change. Started with 10K of monthly cash flow. Then I started looking at my family and I wanted generational wealth for them and there families. Although, I still want the cash flow, that number fluctuates between 10K-15K per month. If you bought a rental property when each son or daughter was born, that would pay for there college and or down payment on a house. There are many ways to look at your goals, but for me they are an ever evolving plan.
Good Luck Everyone.
1 Reply
Cory Barnes
Rental Property Investor · Ontario, CA (Ontario) · Member since 2019 · 7 posts · 6 votes
6y
Firstly, I am a Canadian and have thoroughly enjoyed the education the BiggerPockets webinars, podcasts and forums have provided. So thank-you all for that.
Currently, my wife and I run a mom and pop buy and hold of 4 single family properties in a small area of Ontario, Canada. Our tenant profiles are middle/upper middle class salaried government employees, so we've seen little effects from the current crisis thus far.
Our goal is to acquire enough rental income to allow for my wife to resign and spend more time at home with our young boys. We calculate this will take approximately 6 properties to make the numbers work for this. She will also continue to manage the properties as well as work on future deals.
Our modest real estate portfolio will be in addition to my continued income, as well as our current RRSP portfolio with plans for me to retire no later than 55....12 year plan, LET"S GO!
1 Reply
Account Closed
Rental Property Investor · Brooke Park Drive · Member since 2018 · 1k+ posts · 2k+ votes
6y
DURR OK EVERYBODY NOW TAKE WHAT YOU WROTE AND TIMES IT BY TEN DURR WOW ISN’T THAT AMAZING!!??
0 Reply
Shiloh LundahlPro Member
Rental Property Investor · Gilbert, AZ · Member since 2016 · 3k+ posts · 4k+ votes
6y
I have many personal and family goals outside of real estate. But as far as my real estate and financial goals are concerned, my current goal is 20k/month in passive income within the next 2 years. But I also have the goal of owning 100 million in real estate with a partner leveraged at 60% over the next 10 years. So my portion would be 20 million in net worth. At that point, I hope to be making a lot more than 20k/month passively.
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1 Reply
Gregory SchwartzBusiness Member
Rental Property Investor · College Station, TX · Member since 2016 · 1k+ posts · 1k+ votes
6y
1 year: House hack plus 4 plex cover my living expenses
5 year (Lean fire): 5k cover our living expenses (50 units should make this happen)
10 years (Fat fire): 10-20k per month depending on our lifestyle but the goal is to buy a family plane for vacations and 20+ acres to build our family home.
I want to grow this as a business, not a passive pursuit. We're going to start with 2-4 plexes then move up to small multifamily through partnership and eventual syndication.
[email protected]443-812-0357
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Jordan MoorheadBusiness Member
Real Estate Agent · Austin, TX · Member since 2015 · 5k+ posts · 3k+ votes
6y
@Russell Brazil it’s a huge stretch but my net worth goal is $10 million. I’m only 31 and I think I can make it happen by the time I’m dead.
For passive income it’s $8,000 a month. That’s $100,000 a year roughly and that would be way more than I need to live off of.
It’s hard for me because I enjoy every minute of what I do. I don’t want to quit working and like the challenges that come with rental property investing and my career. I’m one of those weird people that has to at least work for an hour or so a day on vacation, but I’ve been averaging 2 months vacation a year for the past few so I’d rather have the flexibility.
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Matt Millard
Lewisville, TX · Member since 2015 · 344 posts · 264 votes
6y
100 Bitcoin!
And largest operator in Oklahoma!
0 Reply
Ryan ShortPro Member
Investor · Boston, MA · Member since 2016 · 77 posts · 55 votes
6y
@Russell Brazil my main goal is for my family to be very healthy, wealthy, and happy. My finacial goal is to create $25,000 a month after all expenses from my investments in 3-5 years. $50k a month in 5-10 years. Retire at the age of 40 with $1million a year from cash flowing assets. Hope everyone is safe and well. STAY POSITIVE!
0 Reply
Syed H.
Developer · NY/NJ/PA · Member since 2018 · 758 posts · 935 votes
6y
"retire" @ 40 with a net worth over $20m. But for me at least, i'll never fully retire so i expect my net worth to be higher than that.
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