{ "media_type": "text", "post_content": "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?", "post_id": "6185b95aa6f457002f0eb7d1", "reply_count": 40, "vote_count": 8, "bowl_id": "5ae4a4f739e7cb001391ec8b", "bowl_name": "Consulting Exit Opportunities", "feed_type": "bowl" }

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?

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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

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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.

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

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

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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.

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

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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!

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

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Love this!

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Get two more quads. See how that goes.

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Teach us too!

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

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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?

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

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Post without company

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Testing a new post at 12:06PT 5.12

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Been wanting to get myself a luxury car ever since graduating from UG. I’m 5.5 years out now and think I’m ready to pull the trigger. Which would you get / recommend: new Model 3, used BMW 4/5Series or used Mercedes C-Class? Aiming to stick to $40-$50K.

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How has the „fake it until you make it „ worked out for you? The amount of people I see at some positions with high titles and compensations without the according knowledge is crazy. In my company we have several „senior“ in x or y. But I am the one who is teaching them the things they are supposed to be senior at. I have a few interviews coming up and Im just thinking to start making up stuffs 🤦🏾‍♂️

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Best questions you ask candidates (ASC/SC/M) during interviews?

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You know you're in the south when ______

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Just one minor struggle of being away from home 57% every week 😅

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Best city to live in in early-mid 20s?

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Is there a distinction between Senior Associate and Senior Consultant at EY? I’m interviewing for a role in EY GPS Finance and not sure how much to ask for. I have 4 YOE

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