Quitting consulting to live off rentals? So I own a quad, monthly rental and airbnb profit is 20,300 PM (1,800 mortgage) I hate my job in consulting, but started less than a year ago? I make more from my rental than my campus hire consultant job. Is this too risky? I’d probably take up a part time gig and also am enrolled in a graduate program. Monthly expenses are quite low. Plan on using equity in quad to rinse and repeat to add to my portfolio? Am I crazy for doing this?

like
Posting as :
works at
You are currently posting as works at
Highlighted IconHIGHLIGHTED

Forget consulting, you're doing really well in rentals and can prob also consult others on how to make it off rentals

like

Love this!

like

You’re off to a good start and we share a lot of the same sentiment. I’m in Texas pulling in 100K from W-2 but building my portfolio in the meantime, pulling in 45K gross a year from an Airbnb I own and building a duplex that’ll gross me 40K annually with 60K of equity already in it. Banks love W2 income so my suggestion is keep the 9-5 to continue getting approvals from the bank until you just can’t stand it any longer that’s my plan lol

like

That’s true! I just hate the client facing roles, I hate that no matter how much effort you put into something, it’s still not right for the most minute reasons.

Recent IconRecent

You sound quite young. Now is the time for heavy risk.

like

That’s a good point. I think I definitely will work one more year to get my JD/MbA so that i’m eligible for the JAG program in the military reserves.

likesmart

How did you buy all that in one year of worked?

like

D1: It definitely took a lot of patience, mainly the fact that I was living with my parents, while everyone else my age had their own apartments or brand new cars. Hated putting of the spring breaks to MIA. But in the long run, when I am 30 (and hopefully semi-retired🤞🏽) It’ll all have paid off. You definitely can do it. If you are looking at buying your first multi unit property FHA takes into account 75% of the existing tenants rent if you buy a standing structure. Which makes more sense than renting especially in areas like NY (where I work, but remote rn), LA, or SF. You’ve got this!

like

Get two more quads. See how that goes.

like

Teach us too!

like

Stay consulting, do that again every year for the next 2 or 3 years, and THEN retire.

like

MBA would be paid for. I qualify for a program that would only require me to pay for the JD not the MBA. I’m getting it simply because I enjoy school.

What city do you own this in?

like

The loan required me to live in the property for a year. I’m sure in CA you could make a killing!

Rookie question but how are all of the posts on this thread making so much money net of mortgage payments on these properties? If we were to rent out our house I can’t imagine we’d get more than a few hundred over mortgage (we are in a pretty expensive $/sq ft area though). Any insight would be appreciated because we’re considering buying a rental property.

People typically net more money because they’ve found incredibly discounted deals and put equity into the property on top of appreciation and/or use them as vacation rentals. I have a property with a PITI of $1600 each month and I did 45K gross on Airbnb this year in Texas, and that’s on less than 50 percent occupancy. I’m building a duplex property that’ll I rent for $3200 monthly on the LTR rental side but it’ll rent for easily $6000 on the STR side that already has about 60K of equity in it. The key is finding DEALS! That’s how you make the most money

Related Posts

Hi guys,
Can anyone suggest, how is the market or job opportunities for data analyst or data scientist for fresher? For a person who is working in sales and willing to change his career path.

like

In TCS at IBegin portal at form9 we have to enter 15 digit bank account number for salary purpose , But I've ICICI salary account of 12 digit account number. then how I can enter 15 digit bank account number ? Please guide me

like

I am having 6 years of experience in Java and angular.

How much salary I can expect if i switch the company.


Cctc 11

like

Want to do a sanity check. I’m making $110K and single. Right now max 401K, 50/50 traditional/Roth split. If I know I’ll be in school next year and will only work 6 months next year, should I aim to maximize Roth *next year* ? And therefore, maximize traditional this year? Thoughts? Thansk!

like

Do we get bonuses this year ?

What is the appraisal cycle in Volkswagen IT Services India? When are the increment letters released?

like

Hi! I was wondering if someone could help me with some advice on how I can offer my freelance services. I’m currently working as a generator of leads and booking demos and I know I can bring value to other start-up companies as I do in my job. Thanks!

like

Mom will be visiting me for a month but I'll be traveling Mon- Thurs every week. How do you all handle this to make them feel not ignored?

like

Just moved to NYC & in-need of some medication 🌳 any tips on finding a plug without being creepy or alienating the few acquaintances I have here?

like

What is LEAD?

like

How do you balance wanting to be the “go to” person who gets it all done, no matter what, and feeling like you are taken advantage of because of that?

like
like

Posting image due to character constraint…

Post Photo
like
like

Please suggest some product Based companies that usually have .NET (fullstack or backend )openings?

like
like

What is the salary for a Business Applications Technology Specialist at Microsoft? The position is for No-Code and includes building solutions and designs that solve business challenges, to further present to customers within the sales process.

like

Someone pls let me know, what would be the in hand salary for this offer.

Post Photo
like

Trying to restructure the benefit package that is currently being offered at a Construction company. Curious what everyone's standard benefit package includes in detail. TIA

like

Additional Posts in Consulting Exit Opportunities

I've been at the company for 5 years and now looking for exit opportunities. Is there anything that bars me from working at the clients I have served? Can I directly approach my contacts for full time opportunities? If yes, could I also approach them with potential gig as a independent contractor?

like

What typically motivates people to leave consulting? Is it primarily the personal sacrifices or are the opportunities ahead more fulfilling / lucrative

like

4 YOE how much would you feel asking in TC for BizOps role specifying 4+ Years of consulting experience? Non FAANG tech companies

like
likehelpfulfunny

When to put in two weeks notice? I've received and signed my offer letter- best practices to wait for background check to clear?

like

I want to exit to MBB but if that’s not a possibility what are the next best consulting firms? Looking for at least midsize firms (non-boutiques).

like

Interviewing for a Sr. Mgr in Biz Analysis at Cap One. Does anyone have any examples on these 4 cases there going to drill me on. Crazy they need 4 cases to assess people.

like

What should I expect when trying to exit into a more competitive (geographical) market?

My home office is in a developing country (think non-EU/US, G20), I’m looking at Biz Ops/PM roles in tech in Western Europe. How much should I expect to be able to leverage my consulting/McKinsey background in this context?

like

As someone with about 4 years of Data and analytics experience but not a lot of python experience, what sort of exits would you suggest? Trying to work on my resume but cannot think of where I would fit. I am technical but not extremely technical where I can crack FAANG. How do you decide what roles work best for you? We go from a project to project where we like some more than the others, but can’t pin point to what the next job should be. Anyone else in the same boat / can provide any insight?

like

Just applied to Apple with a Gmail email address, think they won’t mind? Lol

funnylikehelpful

When do you ask about position comp during interview process?
Initial call with recruiter?
After they say they want to extend an offer?

like

Is contacting your current employer the last step in the Deloitte background investigation?

like

Senior manager at large fortune 20 company (but pay is less) or manager at startup in growth stage and not yet at IPO?

like

Has anyone exited from PwC free to talk? Would like to know what I need to prepare for the exit. I’m about three to four months out from quitting. (h-1b in progress)

Is Amazon worth it for a 15% bump in pay? Senior Product Mgr position

Product role, have cushy work life balance in current gig but moving and current company won't transfer me

Hear horror stories so not sure what's true vs. what is ppl just complaining

like

Anyone here from Moody's? How is the company, growth opportunities, benefits and comp? Interviewing for a VP position in their Moody's Investor services group.

like

I am trying to get into FAANG. Have applied on lot many vacancies but have not received even a single call from any recruiter yet. Probably I need to adjust my resume. Any suggestions?
Currently working as Implementation Manager with Deloitte. Have 8+ years of experience with project/product management.

like

I’m now in industry and needed to do a force rank, which I think many of them do not deserve forced to be lower rating. Have anyone of you experienced this?

like

Does a Sales Engineer role have a good job outlook/security? I don’t want to venture too far away from my tech skills and they said this is about 20% sales work.

Declined two offers to go to EY some time back…I tried applying recently and automatically got rejected. What’s the possibility that I’m blacklisted? I know my resume is a fit given I’ve had consulting experience at a Big4 previously

like

New to Fishbowl?

Download the Fishbowl app to
unlock all discussions on Fishbowl.
That was just a preview…
Sign Up to see all discussions
  • Discover what it’s like to work at companies from real professionals
  • Get candid advice from people in your field in a safe space
  • Chat and network with other professionals in your field
Sign up in seconds to unlock all discussions on Fishbowl.

Already a user?
Login here

Share

Embed this post

Copy and paste embed code on your site

Preview

Download the
Fishbowl app

See what’s happening in your industry
from the palm of your hand.

A phone with Fishbowl app

Send download link to your phone

OR

Scan your QR code to download
Fishbowl app on your mobile

By continuing you agree to Terms of Use and Privacy Policy.

Messaging rates may apply

Download app

Sign up for free to view this conversation on Fishbowl

By continuing you agree to Terms of Use and Privacy Policy

Already have an account? Log in

Sign up for free to continue using Fishbowl

By continuing you agree to Terms of Use(New) and Privacy Policy(New)
Messaging rates may apply

Already have an account? Log in

For account settings, visit Fishbowl on Desktop Browser or

General

Legal