Rental Property Investor · Kitsap county Washington · Member since 2017 · 117 posts · 39 votes
I took a one year sabbatical as a test run.
In that year I completed 6 years of taxes, 5 cashout refinances, purchased, rehabbed, and rented 4 houses Sold one for sale by owner under contract as a "Rent until you buy" and purchasing 2 fourplexes out of state, Closing in 3 weeks.
I repaired my relationships with my wife and my kids. As a family we all do yoga for an hour everyday.
My happiness, health, networth, and cash flow have all gone up without the constraining ties of my job.
I have a great job and real estate is allowing me to leave it.
I have 21 days left of a 19 year engineering career. I'm an expert in a very small niche and I'm going to give my company everything i can before i leave as a thank you for funding my real estate.
My most valuable asset has been my ability to earn a living as an engineer and i retain that asset but real estate is way more fun.
@Gary Abner How were you able to purchase homes on sabattical without a W2 income?
Hi Brandon, I have been buying properties from a combination of cash out refinances and my helocs and then paying off my Helocs again with more cash out refinances. While I was on sabbatical the banks were still able to count my W-2 income because I had a return-to-work date and a set salary. A day before each loan they would call three-way with my work to verbally verify I'm still an active employee.
Lst year I barely had enough to buy all four houses in the same month, so I also took a loan on my 401k and cashed out my health savings account.