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Rachel888

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Hey guys! First time poster here, but what an absolute dream to have found a forum with like-minded people. The only person in the world I have met who is as ambitious as me and shares the same goals and values as I do is my fiance, Andrew... so at least I am lucky in that regard! But a whole community of you... it's like Christmas morning!

So a little about me: I'm 25, I'm a finance analyst (sitting at my cubicle right now, not being the best employee...), I live in Kentucky with my fiance (30 yrs old) and our dog. Andrew and I had an incredible year last year. Here are some of the things we accomplished in 2017:
  • We bought 2 rental properties, which bring in $3k/mo cash flow combined, 25% rate of return
  • We started a POD T-Shirt business, earns about $1k/mo
  • I got a promotion and a $10k raise
  • I wrote and published my first ebook, Money Honey, earns about $500/mo
  • I lost 20 lbs, Andrew lost 25 lbs... we are in the best shape of our lives!
  • I won a $15k Sweepstakes the same weekend Andrew proposed... absolutely nuts
  • We traveled to Colorado, NY, & Greece
The point here is that we went from $0 in passive income to $4,500/mo in passive income... all within a year! To top it off, we just closed on our 4th rental property 2 weeks ago which will bring in another $2k/mo. I feel like I can share these details / accomplishments with you all and it won't come off as braggy (because it sure feels like it and I don't mean to) but rather excited at how impactful the Millionaire Fastlane mindset is.

We are thrilled with our momentum and can't wait to retire early. So now for our goals...
  • Retire by May 2020 (I will be 27, Andrew will be 32) and move out West
  • Grow passive income to $10k/month AT LEAST with real estate
  • Hire property management company for our rentals
  • what else? (would love some suggestions)
I'm excited to be here, interact with you all, and hopefully make some new friends. Would love to talk to other real estate investors, authors, or POD business owners! You guys are awesome!

Are there any other youngins in here like Andrew and me? I would especially love to hear from those of you who ALREADY retired and that had to walk away from extremely lucrative full-time jobs. My worry is that our full-time/actively earned income is so high that we won't want to quit, even though we can!

Rachel
 
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BD64

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Hey guys! First time poster here, but what an absolute dream to have found a forum with like-minded people. The only person in the world I have met who is as ambitious as me and shares the same goals and values as I do is my fiance, Andrew... so at least I am lucky in that regard! But a whole community of you... it's like Christmas morning!

So a little about me: I'm 25, I'm a finance analyst (sitting at my cubicle right now, not being the best employee...), I live in Kentucky with my fiance (30 yrs old) and our dog. Andrew and I had an incredible year last year. Here are some of the things we accomplished in 2017:
  • We bought 2 rental properties, which bring in $3k/mo cash flow combined, 25% rate of return
  • We started a POD T-Shirt business, earns about $1k/mo
  • I got a promotion and a $10k raise
  • I wrote and published my first ebook, Money Honey, earns about $500/mo
  • I lost 20 lbs, Andrew lost 25 lbs... we are in the best shape of our lives!
  • I won a $15k Sweepstakes the same weekend Andrew proposed... absolutely nuts
  • We traveled to Colorado, NY, & Greece
The point here is that we went from $0 in passive income to $4,500/mo in passive income... all within a year! To top it off, we just closed on our 4th rental property 2 weeks ago which will bring in another $2k/mo. I feel like I can share these details / accomplishments with you all and it won't come off as braggy (because it sure feels like it and I don't mean to) but rather excited at how impactful the Millionaire Fastlane mindset is.

We are thrilled with our momentum and can't wait to retire early. So now for our goals...
  • Retire by May 2020 (I will be 27, Andrew will be 32) and move out West
  • Grow passive income to $10k/month AT LEAST with real estate
  • Hire property management company for our rentals
  • what else? (would love some suggestions)
I'm excited to be here, interact with you all, and hopefully make some new friends. Would love to talk to other real estate investors, authors, or POD business owners! You guys are awesome!

Are there any other youngins in here like Andrew and me? I would especially love to hear from those of you who ALREADY retired and that had to walk away from extremely lucrative full-time jobs. My worry is that our full-time/actively earned income is so high that we won't want to quit, even though we can!

Rachel

Great intro and grtz on the successful year for you and Andrew.

Also yes, there are plenty of other youngins here, myself included (I'm 21 and newish to the fastlane)

Some other young guns who are killing it are @PTP @Envision @G_Alexander among many others...

Welcome to the forum
 

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M Eve

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Welcome to the forum and congrats in you and your fiancé success.

If you're looking for people to talk about real estate would recommend reading absolute beginners guide to TMF by @jockinbox.

There are lots of people here but it gives you a start.
 

Patrickg

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2 rentals making 3,000 month that's great. Was it single family?
 

Claude Roy

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WOW Rachel! That is so great, I'm soo stoked for you guys! You are really crushing it and have plans on how to keep growing, that's so great, so grateful to hear your story! Great intro and a warm welcome! :)
 

Real Deal Denver

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Welcome, and I read your bio for your book on Amazon. You don't need any advice from anyone here - you are way ahead of the pack. And at only 25. Color me jealous!

Your book has rock solid reviews, and it is on my list to read. Congrats on that!

The only advice I could possibly throw your way is to abandon your financial training that steers you towards the stock market. Why invest in a company you have no control over, and don't have a clue what they may do down the road (hello Toys R Us!). Not to mention that they will lie to you. As Warren Buffet said, he's never seen a bad P&L Statement. I wonder why that is? Liars. That's why. Build your own dream. There are plenty of people here that can give you advice based on hands on experience.

You are off to a fantastic start.
 
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racyred09

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Hey guys! First time poster here, but what an absolute dream to have found a forum with like-minded people. The only person in the world I have met who is as ambitious as me and shares the same goals and values as I do is my fiance, Andrew... so at least I am lucky in that regard! But a whole community of you... it's like Christmas morning!

So a little about me: I'm 25, I'm a finance analyst (sitting at my cubicle right now, not being the best employee...), I live in Kentucky with my fiance (30 yrs old) and our dog. Andrew and I had an incredible year last year. Here are some of the things we accomplished in 2017:
  • We bought 2 rental properties, which bring in $3k/mo cash flow combined, 25% rate of return
  • We started a POD T-Shirt business, earns about $1k/mo
  • I got a promotion and a $10k raise
  • I wrote and published my first ebook, Money Honey, earns about $500/mo
  • I lost 20 lbs, Andrew lost 25 lbs... we are in the best shape of our lives!
  • I won a $15k Sweepstakes the same weekend Andrew proposed... absolutely nuts
  • We traveled to Colorado, NY, & Greece
The point here is that we went from $0 in passive income to $4,500/mo in passive income... all within a year! To top it off, we just closed on our 4th rental property 2 weeks ago which will bring in another $2k/mo. I feel like I can share these details / accomplishments with you all and it won't come off as braggy (because it sure feels like it and I don't mean to) but rather excited at how impactful the Millionaire Fastlane mindset is.

We are thrilled with our momentum and can't wait to retire early. So now for our goals...
  • Retire by May 2020 (I will be 27, Andrew will be 32) and move out West
  • Grow passive income to $10k/month AT LEAST with real estate
  • Hire property management company for our rentals
  • what else? (would love some suggestions)
I'm excited to be here, interact with you all, and hopefully make some new friends. Would love to talk to other real estate investors, authors, or POD business owners! You guys are awesome!

Are there any other youngins in here like Andrew and me? I would especially love to hear from those of you who ALREADY retired and that had to walk away from extremely lucrative full-time jobs. My worry is that our full-time/actively earned income is so high that we won't want to quit, even though we can!

Rachel

Damn, girl! $3k/month profit on your rental properties...that's amazing! I'm older than you but I still feel like a youngin :D I looked at your book reviews too, and now I kinda want to read it. Good luck with early retirement!
 

1step

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Hey nice into!

Don't see many other people from Kentucky here, welcome! Are you all in Louisville? Or Lexington?
 

RobD88

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Welcome! Nice intro...you have a lot going on and what seems like a really good plan. I hope to hear more in the future.
 
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DustinH

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Are the rentals in KY? I would like to buy some property in Lexington soon. I lived there a few years back.

Hey guys! First time poster here, but what an absolute dream to have found a forum with like-minded people. The only person in the world I have met who is as ambitious as me and shares the same goals and values as I do is my fiance, Andrew... so at least I am lucky in that regard! But a whole community of you... it's like Christmas morning!

So a little about me: I'm 25, I'm a finance analyst (sitting at my cubicle right now, not being the best employee...), I live in Kentucky with my fiance (30 yrs old) and our dog. Andrew and I had an incredible year last year. Here are some of the things we accomplished in 2017:
  • We bought 2 rental properties, which bring in $3k/mo cash flow combined, 25% rate of return
  • We started a POD T-Shirt business, earns about $1k/mo
  • I got a promotion and a $10k raise
  • I wrote and published my first ebook, Money Honey, earns about $500/mo
  • I lost 20 lbs, Andrew lost 25 lbs... we are in the best shape of our lives!
  • I won a $15k Sweepstakes the same weekend Andrew proposed... absolutely nuts
  • We traveled to Colorado, NY, & Greece
The point here is that we went from $0 in passive income to $4,500/mo in passive income... all within a year! To top it off, we just closed on our 4th rental property 2 weeks ago which will bring in another $2k/mo. I feel like I can share these details / accomplishments with you all and it won't come off as braggy (because it sure feels like it and I don't mean to) but rather excited at how impactful the Millionaire Fastlane mindset is.

We are thrilled with our momentum and can't wait to retire early. So now for our goals...
  • Retire by May 2020 (I will be 27, Andrew will be 32) and move out West
  • Grow passive income to $10k/month AT LEAST with real estate
  • Hire property management company for our rentals
  • what else? (would love some suggestions)
I'm excited to be here, interact with you all, and hopefully make some new friends. Would love to talk to other real estate investors, authors, or POD business owners! You guys are awesome!

Are there any other youngins in here like Andrew and me? I would especially love to hear from those of you who ALREADY retired and that had to walk away from extremely lucrative full-time jobs. My worry is that our full-time/actively earned income is so high that we won't want to quit, even though we can!

Rachel
 

HackVenture

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Great intro! Great achievement so far and at such a young age too!

Not sure why your nick has "888" behind and not sure if you know this but "8" stands for prosperity in Chinese woohoo.
 
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garyfritz

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I have four rentals netting about $5k/mo, but that's using equity I've built up (badly, slowly) over the last 40 years and some inheritance. If you're netting $3k at 25, after mortgage & other costs, you're waaayyy ahead of me. Kudos to you!

You're also kicking my butt on your ROR. I'm only getting about 6% on my properties. I **WISH** I could get anywhere near 25% !!!! But the deals I can find around here (northern CO, a VERY strong RE market) just don't support that. Apparently I'm looking in the wrong place, or at the wrong class of properties (single-family homes).

Those properties are largely fully paid-off. I've looked at increasing my return by leveraging -- borrowing against current equity to buy more properties. But I've done some rough calculations and it looks to me like the net return on invested cash is about the same, with more tenant hassles &etc. If you're confident the property values will go up then getting more exposure is good, but I don't see any way to use leverage to increase your rate of return.

So I'd love to hear how you're doing that...!
 

cwalto12

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Welcome to the board! Great first post. I just joined recently as well. I am 24 and have lived in Louisville for almost 2 years now - originally from TN. You and your fiance are killing it! A few of us from the area are currently trying to schedule a meet up in Louisville if you and your fiance are close by or interested!
 

MJ DeMarco

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Wow, what a great intro! Almost missed it!

Welcome to the forum, so great to have another young couple making shit happen.
 
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Xavier X

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My worry is that our full-time/actively earned income is so high that we won't want to quit, even though we can!

Rachel

Congrats on your successes so far.

With this particular potential hurdle - I too had a good paying 9-5 I knew would be hard to walk away from.
Here's how I went about it.

I cornered myself way ahead of time. I made it so that when the time came, I would have NO wiggle room to chicken out.

About 10 months before my intended exit (December, 2013), I met with my regional director and let them know my plans.
I told them, in December, I would be moving on to focus solely on my business. That I was giving ample notice so they could start scouting for my replacement in good time.

About 4 months later, I signed a permission allowing them to put my position up as "available," even though I'd still be there another 6 months.

Two weeks before my exit, I put in the traditional 2-week notice. My replacement was already standing by.
I and the company parted ways with mutual warm and fuzzy goodbyes, and I haven't looked back since. I was 27.

I wish you strength, when that time comes.
 

Rachel888

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Nice work! Awesome to hear someone in the area making strides so quickly.

Your RE returns are impressive. I assume outside of Lou/Lex corridor?
Thanks! Yes all of our real estate is in Jefferson County in Louisville.
 

Rachel888

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2 rentals making 3,000 month that's great. Was it single family?
One was a duplex, makes $500/mo, another was an 11-unit, makes $2500/mo! Then we also have a single family and now another 12 unit.
 
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Rachel888

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Nice work. Do you enjoy the day job or creating the passive income streams more?
Definitely the passive income, I'll only be satisfied when I'm working for myself! But I do have a great day job and am very grateful for it.
 

Rachel888

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Welcome, and I read your bio for your book on Amazon. You don't need any advice from anyone here - you are way ahead of the pack. And at only 25. Color me jealous!

Your book has rock solid reviews, and it is on my list to read. Congrats on that!

The only advice I could possibly throw your way is to abandon your financial training that steers you towards the stock market. Why invest in a company you have no control over, and don't have a clue what they may do down the road (hello Toys R Us!). Not to mention that they will lie to you. As Warren Buffet said, he's never seen a bad P&L Statement. I wonder why that is? Liars. That's why. Build your own dream. There are plenty of people here that can give you advice based on hands on experience.

You are off to a fantastic start.

Thank you! I appreciate all the kind words and feedback - let me know what you think of the book!

Most of our wealth is tied up in our real estate... the only contributions we make to the stock market are within our 401k to get our employer match. We find we can get a much higher ROI in real estate!
 

Rachel888

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Are the rentals in KY? I would like to buy some property in Lexington soon. I lived there a few years back.
They are all in Louisville, Jefferson County. I'm sure Lexington would be a great market too!
 

Rachel888

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I have four rentals netting about $5k/mo, but that's using equity I've built up (badly, slowly) over the last 40 years and some inheritance. If you're netting $3k at 25, after mortgage & other costs, you're waaayyy ahead of me. Kudos to you!

You're also kicking my butt on your ROR. I'm only getting about 6% on my properties. I **WISH** I could get anywhere near 25% !!!! But the deals I can find around here (northern CO, a VERY strong RE market) just don't support that. Apparently I'm looking in the wrong place, or at the wrong class of properties (single-family homes).

Those properties are largely fully paid-off. I've looked at increasing my return by leveraging -- borrowing against current equity to buy more properties. But I've done some rough calculations and it looks to me like the net return on invested cash is about the same, with more tenant hassles &etc. If you're confident the property values will go up then getting more exposure is good, but I don't see any way to use leverage to increase your rate of return.

So I'd love to hear how you're doing that...!

Thanks! We are off to an exciting start for sure.

Our "minimum" required ROR used to be 11-12%... now we've upped as we've seen we can get more here. But it's a MUCH different story in KY than it is in CO. Properties are cheaper, and the market isn't as crazy... it's easier to find deals. On our first duplex, I found it as an expired listing on the MLS. I reached out to the listing agent, kept in contact for many months, and then when they were about to list it, they let us know ahead of time. Gave us a huge advantage, and we were tough negotiators... got an amazing deal. I don't think we'll ever outdo that to be honest!

With the two multi units we own (11 and 12 unit) we honestly just got lucky. They were listed on the MLS and are a pretty unique business model which may have scared some people off but we saw the $$$ potential immediately and jumped on those.

We have all 30 year fixed but on our last one had to go commercial and we have a 25 year ARM which makes me a little nervous, so we might try to aggressively pay that one off in the next 5-10 years instead of the full term.

Let me know if you have any questions! Would love to discuss more.
 

Rachel888

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Welcome to the board! Great first post. I just joined recently as well. I am 24 and have lived in Louisville for almost 2 years now - originally from TN. You and your fiance are killing it! A few of us from the area are currently trying to schedule a meet up in Louisville if you and your fiance are close by or interested!
Nice - we would definitely be interested! Do you all have a group where you send each other updates / messages? Would love to be added. I'm still trying to learn how to navigate this forum, but feel free to message me directly!
 
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Rachel888

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Wow, what a great intro! Almost missed it!

Welcome to the forum, so great to have another young couple making sh*t happen.
Thanks so much, that's a huge compliment! Thank you for creating such a valuable space for us entrepreneurs to get to know each other. LOVE your book!!!
 

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Grew up in Louisville, but moved a few minutes outside in Meade County.

Good to see more locals on the board

.
 

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