Has anyone here gotten to FIRE through primarily real estate? (lemmy.world)

submitted 1 year ago* (last edited 1 year ago) by UBWare@lemmy.world to c/fire@lemmy.ml

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Would be cool to hear from those who have and how you got started. Were there any pitfalls or things you would have done differently?

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[-] tksdks@lemmy.world 1 points 1 year ago

I have four rentals. Each cash flows about net $300-500/mo or <$22k/yr. ($750k value w approx $280k in equity.) In hindsight, I would have preferred to VTSAX and chill. I hire a property manager so I am not very hands on, but if/when something does happen, it wipes out entire year earnings. Ex: replacing windows…easily $4k. Turnovers and needing to renovate the place after 7 years… $15k.