REWahoo
Give me a museum and I'll fill it. (Picasso) Give
OK, that makes sense. For a while there I was thinking maybe you were one of those folks who confused retirement with a job change! 
Investing in Real Estate as another option for Retirement income
- Thread starter xmanz3
- Start date
knucklehead 61
Recycles dryer sheets
- Joined
- Nov 3, 2008
- Messages
- 169
OK, that makes sense. For a while there I was thinking maybe you were one of those folks who confused retirement with a job change!
nope!
but if i run low of mad money or get bored playing with my toys i can always do some of the maintenance repairs to save money as i am handy with just about all types of home construction & repair.
Fishingmn
Full time employment: Posting here.
I have 11 rentals - it maybe takes me 1-2 days/month at most to manage them myself. Not anywhere close to a full-time job even if I doubled the units to match knucklehead.
Senator
Thinks s/he gets paid by the post
I concur.
My rentals are all within ~7 miles of my house, 20 of the 24 are within 4 miles. I spend less than 5 hours managing the properties per month, maybe less than 2 hours... That saves me ~7% or my rents or more, which is over $20K. Not to mention the increased efficiency I get over a property manager.
Apartment turns, maintenance, etc. mighty all add up to 20 hours on average a month. Those 20 hours add at least an additional $1,000 to my bottom line.
I could hire out the management (taking the calls), and the maintenance (by getting a handyman or ??), but it is not a bad task to check on the properties and turn a screwdriver once in a while.
I get a ton of tax deductions and it keeps me with a hobby that makes a lot of money. I used to make bird houses for free...
It ultimately gives me the equivalent of a very high retirement income, much better than 95% of working people, with minimal work. Almost double my current IT salary.
