Off and running…
Welcome to my blog!
I thought I’d hit the ground running by setting out some goals. More than likely, if your reading this site, you probably have the same overall goal as I do: Have enough money to be able to retire before I expire…
Ok, that’s pretty general, but you have to start somewhere, right?
One of my goals is to develop different sources of income such that they all contribute a healthy chunk to my net worth, but I do not rely soley on any single one to sustain my quality of life. I’ve got a good start in my single rental property, and I consider that a foundation for things to come.
In the short term (i.e. within the next year), I’d like to have $1,000 per month net cash flow. My first rental property will net $225 per month, which sets the bar fairly high for future properties.
Long term, I’d like to develop the real estate business into a full fledged, thriving company. Ideally, I’d like to have a net worth of $1,500,000 by the time I am 50 years old. That gives me… 23 years.
Somewhere in the middle of all this, I’d like to have my very own corner office (hence the name of the site) overlooking the city with a great view. Part of that stems from the fact that I never had more than a cubicle while I was an engineer, and I despised the fact that the people who were generating all the money had the least of the luxuries, while the “managers” had the corner office with the nice cushy chairs…
One of the things to remember is that goals change over time, but the key is to keep raising the bar.
Sphere: Related Content
Looks like we are about the same age. Wow, $225 cashflow positive rental property. That’s like finding a diamond in the rough around here!
Yeah, it turned out to be a real gem.
It also set the bar fairly high for my next one, but I think that’s a good thing. The more margin you have built in, the less you can gouge yourself.
Thanks for reading!
-Grant