All Forum Posts by: Justin Brickman

Quote from @V.G Jason:

Quote from @Jay Hinrichs:

Its an easy math problem for those counting on 100 to 200 a month CF.

@Bill B. @JD Martin to get that kind of cash flow with limited amount of doors I suspect those assets are paid for and nearly so.

I like the paid for assets and limit the doors.. much less hassles and sleep well theory. 

100%, this is why people just keep thinking scale is quantity. Scale is equity. Buy quality, not quantity. 

AS well as I like to interact with RE professionals on a daily basis could not imagine my wholes business purpose was dealing with tenants  LOL.. I like looking at deals and helping others with said deals .. more B to B than  worrying about if I am going to get a rent check.. Again just personal preference .. Its not work to me its a lifestyle.

Excellent question and very timely for me. I had a basic road map in my head but talking to my spouse things have changed. I have a W2 I'm not leaving until retirement at 55 but want to build my portfolio up enough so my spouse can leave her job if needed. So now our plans have changed yet again but for the better. As it stands, my goal is to get to $10k free cash flow from high quality properties/tenants like Jonathan said.

It is different for me as I do enjoy REI and a lot of aspects of it, along with having the security of a W2 and a healthy pension after. I feel as though once I get to a certain point we'll have "enough" and from there will just tweak and maintain our portfolio. No aspirations to continue to build and move in syndications, just plain old buy n holds in class B neighborhoods. By my rough calculations, our goals would put us at 15 units, but like Jonathan said not that it matters. What matters is places are cash flowing and we aren't spending all of our time in the rentals and haven't purchased another job. As of now I spend an hour or two a month on two of my properties.

Great question! My strategy has changed in a year. I was trying to acquire doors and because of that I'm losing money because I bought the "$100/cash flow a month properties" as Jonathan referenced. I'm now of the mindset that it's better to have fewer high quality properties. I'm planning to value add to my Bay Area SFH which I should have done in the first place instead buying in 2023 which will increase cash flow way more than buying anymore inexpensive properties. I have 5 properties (4 SFHs solely owned and one 11 unit, which is co-owned)

  I don't plan to buy anymore properties and take on more mortgages for now until I problem solve my current situation. I've been putting money into stocks and index funds, and looking into other public markets, would consider real estate debt funds or syndications (would need to vet those first)  in the future.

  Other than my mortgage payments, I have kid expenses and those will decrease when they  grow up. I'm considering moving out of state when I retire and am factoring in health care costs in the future. Just curious for those of you who moved to a no state income tax area, like Nevada or Washington, is the government making up for the lack of revenue in another way? 

I am retired and earn 10k/mo from my remaining 14 doors. Make sure they are easily accessible and take advantage of REI pro. REI pro is huge, as is a state with no income tax, that was goodbye California! I almost feel guilty with how little tax we pay but dealing with it!

11 homes brings in about $20k/mo. Probably double what I need to have too much. So 6 or 7 would put you easily in the top 10% of the country by income, probably the top 1% in the world. (Looked it up. You’d be in the top 1% in the world if you were married to someone who didn’t work.)

Ps. Make sure they and you are in a state without income taxes at least 6 months and a day per year. That’s an extra couple grand per month right there. 

11 homes brings in about $20k/mo. Probably double what I need to have too much. So 6 or 7 would put you easily in the top 10% of the country by income, probably the top 1% in the world. (Looked it up. You’d be in the top 1% in the world if you were married to someone who didn’t work.)

Ps. Make sure they and you are in a state without income taxes at least 6 months and a day per year. That’s an extra couple grand per month right there.