How Many Rental Properties Do You Need to Quit Your Job? (Rookie Reply)

Many people invest for appreciation. Others invest for tax benefits. But some investors want enough monthly cash flow to replace their W2 income and help them quit their nine-to-five jobs. When can you go full-time with real estate investing? How many rentals do you need? Stay tuned! Today, Tony and co-host Garrett Brown are diving into the BiggerPockets Forums, and our first question comes from someone who has launched six vacation rentals in just five years. Should they diversify their portfolio? Are they ready to become full-time investors? We’ll share our thoughts! We’ll also hear from someone who’s thinking about selling an equity-rich property to pivot to short-term rentals in the Midwest. Listen in as we show them how to choose a market and set up their Airbnb business. But that’s not all. One investor has bought a rental property that is already booked months in advance. Can they cancel those bookings? Raise their nightly rates? Stick around to find out! Looking to invest? Need answers? Ask your question on the BiggerPockets Forums! In This Episode We Cover: When to leave your W2 job to focus on real estate investing full-time How to diversify your real estate portfolio without changing your strategy When to sell your rental property and tap into your home equity The top factors to consider when analyzing a short-term rental market How to manage your vacation rental portfolio in five hours per week (or less!) And So Much More! Links from the Show Ashley's BiggerPockets Profile Tony's BiggerPokckets Profile Join BiggerPockets for FREE Real Estate Rookie Facebook Group Real Estate Rookie YouTube Ask Your Question on the BiggerPockets Forums Pre-Order the Book “Smarter Short-Term Rentals” Find an Investor-Friendly Agent in Your Area Real Estate Rookie 297 – Traveling the World Thanks to One $6,500/Month Rental Property Connect with Garrett (00:00) Intro (00:36) Diversification & Leaving Your W2 (08:40) Choosing a Vacation Rental Market (17:52) Managing Short-Term Rentals (24:58) Airbnb Fees & Using Home Equity (27:58) Occupancy Rates & Pricing (33:32) Connect with Garrett! Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/rookie-493 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email [email protected]. Learn more about your ad choices. Visit megaphone.fm/adchoices