After 5 years investing in real estate I just became a millionaire!

Celebrating a MAJOR milestone for me! I just updated my RE portfolio and found out I’m officially a millionaire! I don’t post about this on most social media platforms as I don’t want to make anyone feel insecure about their finances, but none of you know me and I REALLY want to celebrate!

I started investing in 2018 but bought my first house (my primary residence) on Dec 28, 2016. I didn’t really intend to start investing, I was just tired of moving around (bachelor life had me moving every ~12 months and I was sick of it) and ended up buying a 4 bed/2 bath house for $250k, putting 5% down, and rented out each room to my friends for $600/mo. I made a little each month, but the main benefit was not having to pay ‘rent’ since my mortgage was covered. I found out my house was appreciating quickly and learned that what I was doing was called ‘house hacking’. I bought another house to ‘house hack’ in 2018, co-bought a house with a friend (I paid the down payment, she lived in it, we split equity), and then caught the bug. I started investing remotely in a market about 4 hours drive from where I lived and bought my first remote property in Dec 2019 and haven’t looked back. I’ve 1031’d a property into more, sold a property and bought turnkeys, and BRRRR’d a bunch of properties.

Now I have 23 doors with the following values:

Market Value: $2,502,300.00
Debt: $1,551,272.21
Portfolio LTV: 61.99%

Equity: $915,563.90
Cash: $189,354.05

Total Net Worth: $1,104,917.95

This is FREAKING CRAZY. I literally started with nothing. Had school debt, we didn’t have much growing up (my dad had literally nothing growing up), no car, etc. and 5 years later am financially free, quit my W2 to do what I love (some people have normal hobbies, mine just happens to be real estate), spend a ton of time with my wife (and soon to be new baby boy), and am over the moon.

Thanks for helping me celebrate!

submitted by /u/Bchoisne
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Celebrating a MAJOR milestone for me! I just updated my RE portfolio and found out I’m officially a millionaire! I don’t post about this on most social media platforms as I don’t want to make anyone feel insecure about their finances, but none of you know me and I REALLY want to celebrate! I started investing in 2018 but bought my first house (my primary residence) on Dec 28, 2016. I didn’t really intend to start investing, I was just tired of moving around (bachelor life had me moving every ~12 months and I was sick of it) and ended up buying a 4 bed/2 bath house for $250k, putting 5% down, and rented out each room to my friends for $600/mo. I made a little each month, but the main benefit was not having to pay ‘rent’ since my mortgage was covered. I found out my house was appreciating quickly and learned that what I was doing was called ‘house hacking’. I bought another house to ‘house hack’ in 2018, co-bought a house with a friend (I paid the down payment, she lived in it, we split equity), and then caught the bug. I started investing remotely in a market about 4 hours drive from where I lived and bought my first remote property in Dec 2019 and haven’t looked back. I’ve 1031’d a property into more, sold a property and bought turnkeys, and BRRRR’d a bunch of properties. Now I have 23 doors with the following values: Market Value: $2,502,300.00 Debt: $1,551,272.21 Portfolio LTV: 61.99% Equity: $915,563.90 Cash: $189,354.05 Total Net Worth: $1,104,917.95 This is FREAKING CRAZY. I literally started with nothing. Had school debt, we didn’t have much growing up (my dad had literally nothing growing up), no car, etc. and 5 years later am financially free, quit my W2 to do what I love (some people have normal hobbies, mine just happens to be real estate), spend a ton of time with my wife (and soon to be new baby boy), and am over the moon. Thanks for helping me celebrate! submitted by /u/Bchoisne [link] [comments]

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