Freedom!! Freedom !! (2) But!! But! But!
hi y'all
I'm free!!! My passive income from real estate more than meets my monthly expenses!!!
What a unreal feeling!!
Leaving my well paying job was final hurdle for the equation of new rich
Automatic income , time, and mobility are all here!!
But! But!! But!! I am still struggling with a old "E" mindset !!
We are so conditioned to work, for works sake. The security of a job and defined income, is like a addiction that Needs to be broken
I'm free!!!!!!
Not turning back!!!
Most Popular Reply
It is amazing how little most people really need to break out of the rat race, but unfortunately, they get sucked up into wholesaling and flipping meanwhile totally losing site of why they got into real estate in the first place. They basically leave one job for another that might have bigger checks, but also comes with waaaay more stress.
A repeat consulting client of mine sat down with me and it was the same story I've heard before;
Client: I made over $100K flipping houses, but I still feel broke!
Me: Taxes and overhead are killing you huh?
Client: I pay so much in taxes and all my first quarter profits will go towards overhead.
Me: How many rentals you own?
Client: None...
Me: Time to get yourself some rentals.
When I got into real estate, the first thing I did before I bought a house was to analyze a year's worth of expenses to see what it would take to set me free. $4,400/month was all I needed. I've since doubled that a few times just for insurance, but once the primary residence is paid off, there isn't much else left to pay for.