Can Net Worth w/Rentals Help Me Quit My Day Job?
Hi all, glad to be here. I have one rental property and just getting into RE investing, and after evaluating several various niches, I'm really drawn to the BRRR method.
Question: How can one (really) quit their day job quickly with BRRR?
Context: My immediate goal is to be able to quit my day job, and be able to live off of at least semi-passive investment+rental income.
BRRR seems focused on net worth, which I understand for long term wealth. But net worth doesn't food on the table, or let me quit my day job…income does.
If I’m only net-netting +$250/month in cash flow per unit, I’d have to rack up tons of units to be able to quit my day job, and then I’d potentially have a nightmare of managing that many tenants…or decrease cash flow even more by using a property manager.
Surely I’m missing some key component here?
So again, what am I missing about how one can potentially quit their day job by doing BRRR? Maybe you can point me to a video link or other resource in addition to your own experiences?
Thanks in advance!