57 min listen
168: Rookie Reply: How Much Cash Flow Do You Need to Quit Your W2? w/Daryl Clinch
168: Rookie Reply: How Much Cash Flow Do You Need to Quit Your W2? w/Daryl Clinch
ratings:
Length:
25 minutes
Released:
Mar 26, 2022
Format:
Podcast episode
Description
How much cash flow do you need to quit your day job and go full-time into real estate investing? You may have a big number in your head when we ask that. Maybe you’re thinking of replacing a six-figure salary with six-figure cash flow, but that's probably far from what you truly need to quit. In fact, you can quit with a lot less cash flow than what you’re being paid today!Joining us again is Daryl Clinch, who recently went full-time into real estate investing with his mentor and partner, Ashley Kehr. Daryl transitioned from seasonal employment to full-time investor after working at his job for sixteen years and deciding he needed a change. In today’s show, Daryl breaks down exactly how he prepared to quit, the cash savings he had, and the surprising amount of cash flow that allowed him to achieve occupation-independence!Looking to do the same as Daryl? Here are some suggestions:Find a mentor who can fast-track your knowledge and learn from themPartner up on deals with other investors and provide value whenever possibleCalculate your true cost of living to find your minimum cash flow to quit Keep a strong safety reserve so you can focus on getting deals (not paying bills!)And more in the episode…If you want Ashley and Tony to answer a real estate question, you can post in the Real Estate Rookie Facebook Group! Or, call us at the Rookie Request Line (1-888-5-ROOKIE).Links from the ShowRookie Podcast 164: Rookie Reply: How Do I Escape My 9-5 with Real Estate Investing?Real Estate Rookie Facebook GrouRookie Podcast 147: 13 Flips as a Full-Time Flight Mechanic and Part-Time Lender w/ Anthony MichaelReal Estate Rookie PodcastDaryl's Instagram Check the full show notes here: https://www.biggerpockets.com/blog/rookie-168See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
Released:
Mar 26, 2022
Format:
Podcast episode
Titles in the series (100)
Doing Deals While Quarantined with Jeremy, Kristen, and Rafael by Real Estate Rookie