How Many STRs to Fat FIRE?

Question

Currently, I have 5 properties which includes 2 long-term rentals & 3 short-term rentals. I am going on 2 years of house hacking (plan to house hack for a 3rd year), and I am looking to hear your perspective of how many short term rentals it has taken you to achieve Fat FIRE.

All feedback is helpful & appreciated!

Dustin

All feedback is helpful & appreciated!

Dustin

Avery Carl · Answer

It took me 2 to quit my job. Now I have 8 STR's and 92 doors worth of LTR's. So very very financially independent over here. Took about 5 years of very hard work and budgeting to get here.

Dustin Sanders · Answer

Hey Paul,

I know I need to stick to the plan which is to maintain my W-2 for some time as well. 23 STRs is very impressive!! Where are your STRs located?

John Underwood · Answer

It depends on how much you need to pay the bills plus. It depends on what type of properties you have, if they are paid for, how much they cash flow etc.

Everyone's number is different. A few minutes playing around in Excel should give you YOUR number.

My LTR'S are all paid for so I need less properties than someone with mortgages on everything.

I am just having fun now doing what I want when I want and I still self manage, flip, loan money and buy more rentals.

Dustin Sanders · Answer

Gotcha. Ideally, I'd like to have 1,000 STRs just like @tonyrobinson mentioned in your Real Estate Rookie podcast the other day though I gotta walk before I can run. Very helpful input, thanks Avery!

Allen L. · Answer

100 doors seems reasonable as a starting point. Unless you want to abuse your properties, 100 doors is only going to meet your essentials and live like a middle class.

Gerald Pitts · Answer

One LTR and 2 STRs. Like John said, it depends on a ton of variables.

i worked at the state, so it wasn't hard to match my income with cash flow 😂, but I am probably doubling or tripling that number now.

Xavier Paredes · Answer

@Damon Santa Maria please teach me. I will be forever grateful to you and will pay it forward.  I am willing to put in the time.

What's step #1?

Paul Sandhu · Answer

Took me 10 years to get 23 STRs with 83 beds.  I still keep my day job, it complements the STR business.

Avery Carl · Answer

@Dustin Sanders I kinda just buy what comes up that makes sense in the markets that we pay attention to. I am sure that we will get to 10 or more STR's but it's not necessarily the immediate goal.

How Many STRs to Fat FIRE?

Most Popular Reply