Real Estate Investing – Want to Retire Early? Better Focus On Quality!

by FI Fighter on July 14, 2017

in Real Estate Thoughts, Real Estate Updates, Thoughts

I quit my job and retired from engineering at the ripe old age of 31. On the journey towards that end goal, I inevitably made many mistakes along the way. In hindsight, I could have achieved early financial independence even earlier in life and I certainly could have set my future up even better had I focused on making sure I ALWAYS did the continue reading at Steemit

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{ 2 comments… read them below or add one }

1 MikeNo Gravatar July 15, 2017 at 9:34 pm

Just read this article on Steamit. Got to say, whoa!

Seems like you’ve soured on turnkeys quite a bit. Definitely have to agree with you that the quality Bay Area REI was the game to play pre ~2013/2014. I’d be interested to hear how your REI portfolio is doing overall though. Keep fighting!

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2 FI FighterNo Gravatar July 15, 2017 at 10:25 pm

Mike,

Yeah, it’s been a huge learning and wake up call for me. Overall, my rental portfolio is still doing well and my turnkeys are actually performing still with some very solid long-term tenants, but I’ve heard some horror stories from many friends and peers… which prompted the post.

I’m not the type of guy that needs to see something happen to me directly for me to get the overall message… Same with the financial crisis of 2008, when I walked away from it unscathed (I had no money to lose) but saw the decimation it had on my older co-workers, so that image always stuck and I never forgot it.

Same with turnkeys… I have too many datapoints telling me it just doesn’t work well long-term… It’s “grind it out” every step of the way approach and that’s not the way to do it to build long-term sustainable and appreciating wealth.

My turnkeys cash flow, but I’m realistic and do worry they won’t outpace inflation. I want my assets to give me more margin for error over the years, not the same or worse.

So, I’ve definitely learned my lesson and will think twice about ever getting back into mediocre low ROI investments.

All the best!

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