Finally Leaving My W-2 J.O.B. Pumped!

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Finally Leaving My W-2 J.O.B. Pumped!

Mehran K.
Investor · Wichita Falls, TX · Member since 2010 · 3k+ posts · 603 votes

It's been a while since I've made a post on the forums(for many reasons). I'd thought I'd give an update on this since I mentioned as my main goal on the BP podcast #73. I'm finally leaving my W-2 job this Wednesday (Feb 24th) and I'll be fully self employed then. I'm really looking forward to be more in control of how I spend my time, as it was the main purpose of all my investing in the first place!

Although I did not reach retirement income requirements through REI cash flow alone(started another business venture as well), my portfolio is a big part of why I feel comfortable taking this step. I'm looking forward to doing a lot more deals and having a lot more fun!

Big thanks to @Dawn Anastasiand @Ramon Jenkinsfor all the hard work they've do on the ground in MKE! Thanks everyone for helping me on this journey. 

I'm hoping, now that I have about 8-10 more hours of each day during the week available, I'll be able to be a bit more active on the forums.

Thanks @Brandon Turnerand @Joshua D.too :) By the way Josh, I fired that bad PM and that property is smooth sailing now!

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Account Closed
Investor · San Jose, CA · Member since 2012 · 2k+ posts · 3k+ votes
10y

CONGRATS MEHRAN! Well done sir.

For the lurkers out there. Don't just exist. Create and live a life you and your beloved ones deserved. You only get one chance at this life. Don't settle. Live the life that you want to live.

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  • Matthew PinkstonPro Member
    Rental Property Investor · Yokohama Shi, Kanagawa-ken · Member since 2015 · 81 posts · 30 votes
    10y

    Congratulations, @Mehran K.!

    That was a great show, and one that was particularly important for me since I'm living overseas, and long-distance is part of the equation.

    I had to go back and review, but that was broadcast back in June of 2014 and at the time you said you'd be trying to leave the W-2 in 4-5 years.. Looks like you smashed that goal!! This is an awesome success story and especially fun since we got to hear your story right when you were getting started, again just a small while later, and now this! I'd suspect you might have another podcast in your future. Josh and Brandon apparently know how to pick em! 

    2Reply
  • Account Closed
    Investor · San Jose, CA · Member since 2012 · 2k+ posts · 3k+ votes
    10y

    CONGRATS MEHRAN! Well done sir.

    For the lurkers out there. Don't just exist. Create and live a life you and your beloved ones deserved. You only get one chance at this life. Don't settle. Live the life that you want to live.

    7Reply
  • Mehran K.
    OP
    Investor · Wichita Falls, TX · Member since 2010 · 3k+ posts · 603 votes
    10y

    Thanks you guys! @Account Closed :)

    1Reply
  • Dawn AnastasiPro Member
    Rental Property Investor · Milwaukee, WI · Member since 2013 · 6k+ posts · 4k+ votes
    10y

    Congrats!  I know 2016 will be an interesting year!

    Podcast Guest on Show #29
    3Reply
  • Frank Eimiller
    Rental Property Investor · Fond Du Lac, WI · Member since 2015 · 261 posts · 78 votes
    10y

    Awesome! I really liked your podcast (@Dawn Anastasi's was great too!)

    Very inspiring post, thanks for sharing. Mind telling us what the other business venture is? ha)

    1Reply
  • Ramon Jenkins
    Real Estate Agent · Milwaukee County, WI · Member since 2009 · 3k+ posts · 525 votes
    10y

    Congrats

    The power of team work and biggerpockets:

    ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~

    We first started working together I had $0.67 in my personal bank account.

    First property we worked together on was 67th Street.

    I’m grateful for the opportunities and good luck moving forward.

    Ramon

    5Reply
  • Jake Thomas
    Residential Real Estate Agent · Grand Rapids, MI · Member since 2013 · 803 posts · 689 votes
    10y

    Congrats! I hope to be at this point later this year. 

    1Reply
  • Russell Naylor
    Colorado Springs, CO · Member since 2016 · 214 posts · 58 votes
    10y

    Thats great! Congrats. I hope to be following in your footsteps sooner rather than later! Enjoy the freedom.

    1Reply
  • Chris Z.
    Real Estate Investor · Boston, MA · Member since 2014 · 32 posts · 10 votes
    10y

    Congratulations. That is a great accomplishment!

    1Reply
  • Garry C.
    Rental Property Investor · Littleton, CO · Member since 2015 · 252 posts · 164 votes
    10y

    As others have said, very inspirational. I'm listening to podcast 73 right now. Fitting, since I'm in the Denver market, which is often considered 'too expensive' and I've been looking to meet people out of state for investments. I just heard the part where you said you were 1/3 of the way there in terms of cash flow, and expected to quit your job in 4-5 years. Less than 2 years later... Wow. Congratulations.

    1Reply
  • Joshua D.Pro Member
    BiggerPockets Founder · HI · Member since 2008 · 16k+ posts · 5k+ votes
    10y

    Congrats man!  That's really exciting news.  Here's hoping for the best for you as you move forward on this journey!

    Podcast Guest on Show #100
    3Reply
  • Dorian Thomas
    Gilbert, AZ · Member since 2012 · 19 posts · 3 votes
    10y

    Congratulations

    1Reply
  • Bhekizwe M.
    Bulawayo, Zimbabwe · Member since 2015 · 1k+ posts · 253 votes
    10y

    Congratulations Mehran K.all the best going forward

    1Reply
  • Mehran K.
    OP
    Investor · Wichita Falls, TX · Member since 2010 · 3k+ posts · 603 votes
    10y

     Online E-Commerce. Thanks man!

    1Reply
  • Mehran K.
    OP
    Investor · Wichita Falls, TX · Member since 2010 · 3k+ posts · 603 votes
    10y

    @Dawn AnastasiYes Indeed!

    @Ramon JenkinsWe've continued to work together because of how well you do what you do. Thank you sir!

    @Garry C.Thanks for the kind words and I'm glad you're enjoying that episode. I met my income needs by supplementing with my E-Commerce business as well. They say business is for liquidity and real estate is for long term wealth building. I plan to keep building my business and my portfolio at the same time, but now full-time! :)

    Thanks all!

    0Reply
  • Micah Dickson
    Cincinnati, OH · Member since 2015 · 20 posts · 10 votes
    10y

    Congrats man. That's a big goal that I'm sure feels great to accomplish. Hope you have continued success!

    1Reply
  • Gautam Venkatesan
    Investor · Dallas, TX · Member since 2013 · 619 posts · 128 votes
    10y

    Congrats @Mehran K.!

    0Reply
  • Eric Tan
    Rental Property Investor · Park Ridge, IL · Member since 2016 · 67 posts · 14 votes
    10y

    Congratulations @mehran

    Just curious on the other business venture you started...

    0Reply
  • J. MartinPro Member
    Rental Property Investor · Oakland, CA · Member since 2011 · 3k+ posts · 2k+ votes
    10y
    Originally posted by @Account Closed:

    CONGRATS MEHRAN! Well done sir.

    For the lurkers out there. Don't just exist. Create and live a life you and your beloved ones deserved. You only get one chance at this life. Don't settle. Live the life that you want to live.

    Hear hear! Truer words could never have been said Minh! And spreading the love too! None of my family is much in on the RE game yet, but I just gave my handyman enough for a  downpayment on a house as a small bonus (along with my 100oz silver bar).

    To @Mehran K.'s success! I remember connecting early on, on BP, and working through my deals as you were buying yours. Like @Sandeep S., I think I might owe you a pitcher! Congrats!!! I'm going to be following in your footsteps ;)

    0Reply
  • Michael Blum
    Bedford, NY · Member since 2016 · 4 posts · 1 vote
    10y

    It is the best decision you will ever make! I will never forget the day I like someone freed me.

    Just remember it will be much harder to deal with banks in today's world of legislation and be sure to be ready to submit a lot more paperwork every time you go to the bank! 

    0Reply
  • Jerry W.Pro Member
    Moderator
    Investor · Thermopolis, WY · Member since 2012 · 4k+ posts · 4k+ votes
    10y

    @Mehran K.Congratulations Bud.  I had joined BP not too long before your podcast.  It is like seeing old friends accomplish major goals.  I have been working towards freeing myself from my day job as well, but I am much further out.  I have to ask though, how are getting healthcare?  That is the biggest stumbling block I have at this point.  I am within about 5 years of being able to generate enough income to live off of in real estate, I just cannot plan out health insurance.

    2Reply
  • James MasottiPro Member
    Rental Property Investor · Washington Township, NJ · Member since 2015 · 1k+ posts · 976 votes
    10y

    Congrats @Mehran K.! Continued success in your new venture! Always awesome to get the follow-up from folks on the podcasts!

    @Joshua D.@Brandon Turner it would be pretty cool to do a "Were are They Now?" on all the podcast guests that haven't been repeats...if it's been over a year. Do you think there's a way to do that through a blog post or podcast or something?

    Podcast Guest on Show #312
    4Reply
  • Ethan Peyton
    Columbia, MO · Member since 2013 · 46 posts · 11 votes
    10y

    That's so awesome!  Hope you're living your dream @Mehran K.!

    0Reply
  • Mehran K.
    OP
    Investor · Wichita Falls, TX · Member since 2010 · 3k+ posts · 603 votes
    10y

    @Micah Dickson@Gautam VenkatesanThank you very much!

    @Eric TanThank you as well. My other business venture is in E-Commerce.

    @J. MartinThanks man! I might take you up on that pitcher when I come up there one day! I heard about your summit this coming weekend. Unfortunately I have a prior engagement down in San Diego, or I might have tried to make it out. I'll see about the next one!

    @Michael BlumI can already feel the freedom and I know it's been worth all the effort. I know thigns won't be all smooth sailing, but I'm ready for the challenges the future brings. Thank you!

    @James MasottiThank you, and that would be interesting!

    @Ethan PeytonThanks man!

    2Reply
  • Mehran K.
    OP
    Investor · Wichita Falls, TX · Member since 2010 · 3k+ posts · 603 votes
    10y
    Originally posted by @Jerry W.:

    @Mehran K.Congratulations Bud.  I had joined BP not too long before your podcast.  It is like seeing old friends accomplish major goals.  I have been working towards freeing myself from my day job as well, but I am much further out.  I have to ask though, how are getting healthcare?  That is the biggest stumbling block I have at this point.  I am within about 5 years of being able to generate enough income to live off of in real estate, I just cannot plan out health insurance.

    I hope to soon see your success story post then Jerry :) I love this community and I am planning to stick around.

    As far as health insurance goes, for the next 18 months I'm able to elect to use COBRA coverage maintain the same exact coverage my employer provided me, but at a fee now. If the cost is reasonable, I will keep that. Otherwise I am going to be applying for the same coverage, but through California's version of the Affordable Care Act Marketplace (Covered California). I think my insurance through my desired plan provider (Kaiser Permanente) would be around $300/month. 

    Because of the new E-Commerce business being setup as an LLC w/ an S-Corp Taxation election, I have hired myself as an employee and I there are tax benefits as far as healthcare reimbursement or self employment health insurance deductions.

    See the following LINK for more details. Obviously more details and discussion with a CPA should be made about that!

    2Reply
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