Retired at 27!

Retired at 27!

Property Manager · Mammoth Lakes, CA · Member since 2014 · 262 posts · 229 votes

My and my husband's goal was to be able to retire on our passive income by age 30. We just hit our goal, both of us at age 27! We are so excited and can't believe how our hard work paid off, and even more quickly than we imaged. 

We started just two years ago, buying our own residence which we house hack and live for free in (some months even cash flowing a couple hundred dollars). Next we bought a duplex with some storage units that cash flows $800-900/month and a single family home bringing in another $500-550/month.

I know we are definitely not flush with money by any means, but to have all of our living expenses paid for by our house hack, plus an additional 1300-1450/month for gas and fun money is plenty for us! Our goal at this point was not to build a huge real estate business, but to be able to do the things we love while we are young. So for us to have the ability to travel, ski, rock climb, and backpack whenever we want in our twenties still is a major win, I think :)

Our very last paycheck!

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Rental Property Investor · Chicago, IL · Member since 2015 · 31 posts · 10 votes
10y

wow, i think you are on the right track but hold up a minute now Shelby ...I know you don't have to pay rent but how will y'all survive on $1,300 a month? And God forbid 1 tenant fails to pay up, gonna be some hard living ritirees 

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  • Financial Advisor · Glendora, CA · Member since 2015 · 209 posts · 94 votes
    10y

    Congrats guys!!  Thats awesome.  Did you factor in just working till 30 anyway just because now the income is what you have to live on would decrease the amount of money you have available for additional properties?  Just a though,  3 years isn't to much longer.  

  • Investor · Inverness, IL · Member since 2015 · 124 posts · 35 votes
    10y

    Congrats and to do it in your 20s is even more impressive! Live the dream!

  • Newark, DE · Member since 2015 · 50 posts · 19 votes
    10y
    That's motivation for sure!
  • Wholesaler · El Paso, TX · Member since 2016 · 33 posts · 7 votes
    10y

    congratulations! Did you house hack a room from your first sfh? I'm planning to do the same. 

  • Boerne, TX · Member since 2016 · 3 posts · 2 votes
    10y
    Awesome post Shelby. Very inspiring and motivating reading your story. I plan to hit $1 bil in revenue by the time I'm 25 so I can enjoy life while I'm young just as you are doing.
  • Real Estate Agent · Saint Louis, MO · Member since 2015 · 6 posts · 2 votes
    10y

    Woh! This is inspiring! So pumped for you guys! Live life!

    I am just starting out, 26. My goal is very close to yours. Be able to "retire"/cover living expenses for my future family by the time I'm 36. It's stories like this that get my heart racing. 

  • Real Estate Broker · Windsor, CT · Member since 2015 · 1k+ posts · 268 votes
    10y

    Wow Congrats!

  • Rental Property Investor · Warren, MI · Member since 2014 · 70 posts · 25 votes
    10y
    Congratulations Shelby Cook !! That's awesome! I hope to have the option of retirement by the time I'm 35. So hearing how quickly you were able to accomplish it is definitely motivation.
  • Investor · Houston, TX · Member since 2015 · 233 posts · 188 votes
    10y

    Congratulations @Shelby PrachtLove to read about these kind of stories especially one from someone very humble like you. Wish you much success in your future. 

  • Rental Property Investor · Michigan City, IN · Member since 2015 · 530 posts · 741 votes
    10y

    @Shelby PrachtCongrats! I hope to be in your position by 27 as well. I am looking for a little more monthly income but just hit 20 units and I turn 23 in a month and a half.  My cash flow is now at $1500 to $2000. My next task is to set up my systems that will allow me to step away for months at a time and only have to answer a few emails or phone calls as needed. It will take time, but thats why we start young right! Thanks for the post and super excited for you and your husband! 

  • Investor · Tallahassee, FL · Member since 2013 · 77 posts · 24 votes
    10y
    I think you have got a great start, but I am going on a rant do I apologize up front. If you are able body and can work why should anyone subsidize your healthcare?
  • Brie SchmidtBusiness Member
    Moderator
    Real Estate Broker · Chicago, IL · Member since 2013 · 6k+ posts · 5k+ votes
    10y

    @Shelby Pracht- Congratulations!  Nothing is better than being able to do what you want when you want to do it!

  • Investor · Hamilton, OH · Member since 2013 · 139 posts · 27 votes
    10y

    congrats.   What a great topic.  I love how RE Investing goals are different for everyone.  My goals are very similar to yours.  I don't want a huge company or to own a PM company.  My goal is to own enough real estate that my wife and I cam simple CHOOSE to work or not.  My plan will hopefully play out over the next 15-20 years.  Congrats again!!!

  • Real Estate Investor · Las Vegas, NV · Member since 2016 · 20 posts · 4 votes
    10y

    why congrats that has to be a wonderful feeling at 27!

  • Investor · Burlington, VT · Member since 2016 · 110 posts · 59 votes
    10y

    thats pretty awesome , i would suggest ( most of the gurus as well , suze foreman, clarke howard... ) it is pretty important to have close to one years expenses saved , in case no rent for 6 months during eviction , a new roof , any other unforeseen issue . if you buy a few more , you won't need to worry :)

  • Rental Property Investor · San Antonio, TX · Member since 2015 · 272 posts · 50 votes
    10y

    Awesome @Shelby Pracht!

    Thanks for sharing your very inspiring story!

  • Hanford, CA · Member since 2013 · 5k+ posts · 1k+ votes
    10y

    That is amazing! I am giving notice next month thanks to our passive income. While the husband is still in the rat race till he is 44 (he's in the navy and loves his job). The goal is to focus on growing our real estate empire and being able to retire permanently at 44 and 42.

  • Investor · saskatoon, sk · Member since 2013 · 40 posts · 41 votes
    10y

    Congrats guys! That is so awesome :) Love it!!

  • Investor · Daphne, AL · Member since 2014 · 1k+ posts · 242 votes
    10y
    With all due respect,why would anyone want to retire at 27?
  • Greg H.Pro Member
    Moderator
    Broker/Flipper · Austin, TX · Member since 2013 · 4k+ posts · 4k+ votes
    10y

    I wish you well in your endeavors but your margins seem very tight to me. But nothing wrong with taking a leap of faith as it can always be undone. 

    Serious question: What does one's day look like when you retire at 27 ? I can't imagine myself ever referring to myself as retired.  I want to think I could play golf every day but it's just not my personality.  I love flipping houses and no doubt the time is near when I will do fewer but I love waking up at 5am to look for the next deal

  • Realtor · San Diego, CA · Member since 2015 · 30 posts · 10 votes
    10y

    Congrats!! Enjoy all of this new-found freedom.  You two are definitely motivation for a lot of us new investors!!

  • Phoenix, AZ · Member since 2015 · 345 posts · 138 votes
    10y

    What a story! How awesome, congrats you two! Keep on going strong! Super inspirational for me at 24 and closing on my first duplex this Friday! I am nervous and excited! lol Thanks for posting such a great success story!!

    Cody 

  • Investor · Frankfort, IL · Member since 2015 · 206 posts · 55 votes
    10y

    awesome accomplishment!

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

    Congratulations.  I wish I had thought about the possibility of retiring before 30.  At age 27 I was attending law school, working 3 jobs and raising 2 kids that I did not health insurance for.  I had invested in buying a piece of land and a trailer house.  I rented those out after I moved away from college and got a job.  When I sold that p[lace several years after moving I was able to take that check and pay off the mortgage on the house I bought in the next town.  I wish I had bought 20 houses back then and I would be retired now.  Live and learn.

  • Real Estate Investor · Playa Del Rey, CA · Member since 2016 · 10 posts · 1 vote
    10y

    That's great that you have steady income with more time to do the things you want to do. 

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