How much stable rental cash flow would you need to feel comfortable leaving your 9-5? Assuming that when you leave you focus full time on RE investments and not move to the Bahamas and raise cattle.
Factors For consideration:
current cost of living
future cost of living (spouse, kid(s), house)
rainy day fund
Equity cost of additional deals
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Personally, I would either want to match my base salary, or know that through value add deals each year, I can sell and make enough money to cover my base.
If I ever got to the point where I had anywhere from 5-7k in stabilized cash flow coming every month I'd probably be done with my day job
Different strokes for different folks I guess, but I'd have a hard time jumping out of the nest with just $60-$84k/year coming in with no liquidity events in site. I guess that plus my wife's income would be enough to be somewhat entrepreneurial, but I'd really want to be 2x that candidly. Guess it also depends on where you live.
100%, all depends on where you live and how you live
For sure, do it pre-kids if you can, those fuckers are a drag on the available investable funds (I obviously love my kids). Ideally, you'll have a spouse/partner who can foot the bills during the early days (wealthy parents help too); tough row to hoe for sure.
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