I'm tired of doing the same job over and over. The jobs are getting monotonous and there is a lot of BSing you have to do especially if you are in manufacturing where the competition is cut throat.
I was wondering if anyone tried to live off of rental incomes?
Here's some numbers I stole from The Balance:
Cash-on-cash Rental Yield:
Monthly Rental Amount $2,400.00
Percent of Year UnOccupied 5%
Take out for Vacancy for Annual Cash In of $27,360.00
Property Acquisition Cost $300,000.00
Less Down Payment - Cash In $60,000.00
Amount of the loan $240,000.00
Payment Monthly Pricipal/Interest $1,556.64
Annual Insurance Cost $1,200.00
Annual Taxes $1,400.00
Annual Repairs Budget $600.00
Percent of Rent Mgmt Fee of 6%
These expenses total to Annual Cash Out of $23,521.28
Income of $27,360 minus cost of $23,521 = $3839 cash return over cash out
If you wanted to live on that, you might need anything from 5-20 houses....