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If you had a family emergency and needed to take 3 months off, could you do it?
If you wanted to take 6 months off to explore Central and South America, could you do it?
If you have enough cash flow from real estate you could!
Financial freedom is about having enough cash flow coming in every month so you can do what ever you want, where ever you want, when ever you want.
The month of December is the perfect time to start writing your goals for 2018 and creating a plan for achieving financial freedom so you could take off 3-6 months if you want to or even retire early.
Think about:
How much cash flow do you need?
How many houses would it take?Or, do you need to focus on creating cash cash cash in 2018 then cash flow later? What’s your plan?
Share your plans below…
That’s a really good post and food for thought.
Yes, I’m talking off 9 months in 2018 to take my boat around the great loop. Easy to keep up with things via internet and email, and I’m almost 100% paperless, too (but you never get there). I’ve got some real estate friends that do the same. One guy has done this three times, working from his boat. She drives while he works and visa versa, works great and they take every other day off to enjoy the sites.
I like that profile.
And, heck, if there were a bit issue, just fly home for a few days.
I could
But my mom would have to keep working. No way would I let her take a brake. she gets enough at the summer home.. She is my money maker. We are getting people in place so we can do that though. it is hard when you cant brake the belief that everything will brake if you are not there to run it. Like he said in the book “The 4 hour work week”
TK
<<<What have you done in your real estate business that made it possible to take 9 months off (mostly)?>>>
Jackie,
It’s applying the things learned from people like you, Miller, Schaub, Fortunato, etc.
My real estate has never been much of a “business” in the business sense, but more of an investment activity. One can spend a lot of time in things like heavy buying and selling, rehabbing, etc. Or one could just get rentals or joint ventures in place and watch them grow. Management is easy, most always done on the phone. I’ve got back up people for new rentals, should I need that, but a lot of my deals are hands off where I let someone else do the work and I put up perhaps a bit more money, so really nothing to do.
I hire most everything that needs to be done, except the initial rent up, but have trusted people that can do it. Even in rehabbing, I don’t touch a hammer or pick up materials, but it can still be time consuming. Don’t have any rehabs for now.
I’ve never worked real estate full time, so I could always take some time off.
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