theficouple

Husband & Wife $1.3 million Real Estate AUM | $100k paid off debt in 3 years| Financial Independence in our 30's| & @enn @times @GMA

[theficouple @theficouple]

Want to be wealthy in 20 years? Invest in index funds.

Want to be wealthy in 10 years? Buy real estate.

Want to be wealthy in 5 years? Build a business.

Choose your path.

[theficouple @theficouple]

The Roth IRA limit is now $7,000 in 2024.

A married couple who works together & invests $14,000/yr into index funds held inside their Roth IRA's?

And they do this together the from ages 35-60?

They're millionaires with ~$48,000+ per year of tax FREE passive income👌🏻

[theficouple @theficouple]

How to become uncomfortably rich:
1. Max your Roth IRA every year
2. Drive a paid off Toyota
3. Own 2-3 rental properties
4. Pay off your home early

Do this over 15-20 years & you're a multi-millionaire.

[theficouple @theficouple]

An annual salary between $38,133- $114,400 is what it takes to be determined "middle class".

A recent report found Gen Z doesn't agree $74,000 is middle class & that $125k a year is needed to feel like they "made it".

Do you agree?

[theficouple @theficouple]

On time Rent Collection for January:
Unit 1🟢
Unit 2🟢
Unit 3🟢
Unit 4🟢
Unit 5🟢
Unit 6🟢
Unit 7🟢
Unit 8🟢
Unit 9🟢
Unit 10🟢
Unit 11🟢

Total: $11,740

[theficouple @theficouple]

Consumer debt is something we've had a lot of especially credit card debt.

We had $10,000+ of credit card debt & some at 24% interest.

We also had $100k+ of student loans😅

Thank you @CBSNews for allowing us to share the steps we took to pay it all off in under 4 years.

[theficouple @theficouple]

Hot take: Don't buy a single family home as your first house.

Buy a 2-4 unit home, use 5% down & get a 30 year loan.

Move in, collect rent & live for cheap or FREE. Pay off debt & save/invest monthly.

When you want to buy a new home? You have cash flow to help pay for it🏡

[theficouple @theficouple]

Our favorite kind🔥

[theficouple @theficouple]

School taught us that retirement age is 65.

Then we learned that life expectancy is 77.

So just to confirm, work 40+ years so you can then have time freedom the last 10-12 years?

We have to flip this script ASAP.

[theficouple @theficouple]

We have met couples who make $200,000/yr and literally cannot afford to go one week without paycheck.

We have met couples who make $90,000/yr who are going to be retiring in their 30's and 40's.

It's not what you make, it's what you keep & invest.

[theficouple @theficouple]

Down payments we have used to buy rental properties:
5%
3.5%
5%
5%
5%
5% (soon)
5% (soon)

If someone says 25% down is mandatory? They're wrong.

[theficouple @theficouple]

Not drinking alcohol saves us a lot of money.

It also means no hangover’s.

Not drinking alcohol seems like a no brainer.

[theficouple @theficouple]

63% of all mortgage’s came after 2018.

62% of homes have a mortgage rate almost 50% less than current mortgage rates.

40% of homes in US have no mortgage.

Housing supply is going to remain low.

This is not 2008. No crash is coming.

[theficouple @theficouple]

How we screen tenants:
1. 660+ credit score
2. Income 3x the rent
3. Clean background check
4. Landlord reference
5. Employer reference

Anything else you look for?

[theficouple @theficouple]

"Warren Buffett doesn't understand Bitcoin"

- Chad, 24 years old

Warren Buffett: "I will make $736 million in dividends just from from Coca-Cola this year"

[theficouple @theficouple]

Middle class couple takes home $120,000 a year.

They stay low key & live on $70,000 a year.

They invest the other $50,000 a year.

After 12 years they have $1.01 million.

Middle class millionaires 💰

[theficouple @theficouple]

Have you calculated your freedom number?

[theficouple @theficouple]

Let's say you have a $300k 30 year mortgage with a 6.5% interest rate.

Your loan payment is $1,896/mo but what if you make 4 extra payments per year?

You pay off the home ~14 years faster & save $200,900 in interest payments.

Debt payoff IS investing👌🏻

[theficouple @theficouple]

How we analyze a rental:

Price: $200k
Rent: $2,400/mo
We invest: $48,000
Payment: $1,710

$2,400
-20% (operations)
$1,920
-$1,710- payment
= $210/mo- Cash flow

$2,520/yr with $48k invested
= 5.25% cash in cash

That would be a bad deal for us

[theficouple @theficouple]

I spent 2 hours today with someone who’s built incredible wealth through business & real estate.

The questions they ask & conversations we had were so different than what I am used to.

Starting to think we’re doing things way too small…