Aslowdodge
Recycles dryer sheets
Just wanted to say Hi.
I retired with rentals and have no money in the market at all-missed the great runs with that.
I have a portfolio of rentals I invested about $750K in over the last 3 years and the portfolio is worth a shade under 1.5 million. Most all of the value gain was buying foreclosures and short sales and fixing them up. The area I invest in does not appreciate much, I think maybe 2-3 percent per year overall. Not like the California market I left.
Net rents after expenses is about $107K per year with a depreciation write off of about $20K. I wasn't planning on retiring, but setting them up as a good cash flow inn case I couldn't restart my photography business when I relocated to Atlanta. I realized living in a cheaper area that cash flow is a pretty decent amount to live on being single.
I also own 5 rentals in 2 roth self directed IRA's that I will draw out about 22K a year tax free in about 2 years,but I am hoping to get 2 more rentals in those to bring that up to about 30K a year before I start to draw out.
I guess I should say in my mind I am retired, but some people say I am not because I own a business that owns rentals. I have a property manager so I only spend a few hours each month doing my book keeping so my taxes are ready at the end of the year. So in my mind for a few hours a month I am close enough.
Before someone posts, I have yet to deal with a clogged toilet and if that occurred the property manager would deal with it, not me.
I know most people are probably retired with money in the market, but I think there's a few people here that own real estate.
I'm looking forward to learning about things like ss which I am eligible for in a few years and medicare as well as traveling. See you all in the other forums.
I retired with rentals and have no money in the market at all-missed the great runs with that.
I have a portfolio of rentals I invested about $750K in over the last 3 years and the portfolio is worth a shade under 1.5 million. Most all of the value gain was buying foreclosures and short sales and fixing them up. The area I invest in does not appreciate much, I think maybe 2-3 percent per year overall. Not like the California market I left.
Net rents after expenses is about $107K per year with a depreciation write off of about $20K. I wasn't planning on retiring, but setting them up as a good cash flow inn case I couldn't restart my photography business when I relocated to Atlanta. I realized living in a cheaper area that cash flow is a pretty decent amount to live on being single.
I also own 5 rentals in 2 roth self directed IRA's that I will draw out about 22K a year tax free in about 2 years,but I am hoping to get 2 more rentals in those to bring that up to about 30K a year before I start to draw out.
I guess I should say in my mind I am retired, but some people say I am not because I own a business that owns rentals. I have a property manager so I only spend a few hours each month doing my book keeping so my taxes are ready at the end of the year. So in my mind for a few hours a month I am close enough.
Before someone posts, I have yet to deal with a clogged toilet and if that occurred the property manager would deal with it, not me.
I know most people are probably retired with money in the market, but I think there's a few people here that own real estate.
I'm looking forward to learning about things like ss which I am eligible for in a few years and medicare as well as traveling. See you all in the other forums.