All my rentals are full!
Well I had never planned on buying more houses than I could fix, but I bought a duplex last november and ran out of time and money to finish it. I did the market street 2 house with an investor, so once I finished it I was able to fix the other side of my duplex. Currently I have 4 tenants now, which is pretty good, plus I sub lease some other space. So all my places are full, so its nice.
Originally I had planned on real estate being a slow retirement plan, not a full time job. My goal was to acquire two rentals a year and in 10 years I'd have 20 rentals, and then in another 10 years or so, they would all be paid for so by the time I was 62 I'd be able to retire in comfort and have the equity of 20 houses paid for to either cash out, or live on the rental income.
So in my first year I've doubled the amount of rentals I would acquire, and if flipping goes as well as I think it will, I'll have everything except one unit completely paid off by the end of this year. Right now its still a struggle, but its nice to see growth every few months. A raise with each new rental I add is nice. You don't go up to your boss and say, hey I want a $200 to $300 a month raise, and I want it every 3 months. But with real estate you can do that if you do it right.
So even though my base pay is still a lot less than what I used to make, the growing rental income, plus equity is all making me feel like I'm on track. As far as I'm concerned, making games is a game, where real estate is the real deal. I know for sure next year will match my best year in the game industry, and then after that I'll be doing better than ever. Its a great business, if you can handle the people and like fixing houses. I don't mind the work at all. It was culture shock at first, going from having clean fingernails and dressing nice to wearing scab clothes and getting cuts, slivers, and dirty every day. But hey, its an honest decent living and at least no publisher can rob me of my dreams. No jerk is going to tell me when its done. Its done when I say so, and to me that's worth millions right there. Do it my way, or the high way.
Originally I had planned on real estate being a slow retirement plan, not a full time job. My goal was to acquire two rentals a year and in 10 years I'd have 20 rentals, and then in another 10 years or so, they would all be paid for so by the time I was 62 I'd be able to retire in comfort and have the equity of 20 houses paid for to either cash out, or live on the rental income.
So in my first year I've doubled the amount of rentals I would acquire, and if flipping goes as well as I think it will, I'll have everything except one unit completely paid off by the end of this year. Right now its still a struggle, but its nice to see growth every few months. A raise with each new rental I add is nice. You don't go up to your boss and say, hey I want a $200 to $300 a month raise, and I want it every 3 months. But with real estate you can do that if you do it right.
So even though my base pay is still a lot less than what I used to make, the growing rental income, plus equity is all making me feel like I'm on track. As far as I'm concerned, making games is a game, where real estate is the real deal. I know for sure next year will match my best year in the game industry, and then after that I'll be doing better than ever. Its a great business, if you can handle the people and like fixing houses. I don't mind the work at all. It was culture shock at first, going from having clean fingernails and dressing nice to wearing scab clothes and getting cuts, slivers, and dirty every day. But hey, its an honest decent living and at least no publisher can rob me of my dreams. No jerk is going to tell me when its done. Its done when I say so, and to me that's worth millions right there. Do it my way, or the high way.
posted by Joel Huenink at
2:33 AM
0 Comments:
Post a Comment
<< Home