7 Steps to Replacing Your W2 Job with Rentals

Real Estate Rookie

BiggerPockets

How To, Education, Business, Investing, Entrepreneurship

4.8 • 1.7K Ratings

🗓️ 27 August 2025

⏱️ 50 minutes

🔗️ Recording | iTunes | RSS

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Summary

Do you wish you could quit your job—for good? With enough rental income, you could! The very first step is to calculate your financial freedom number, and in today’s episode, we’ll show you how to do just that. Then, we’ll give you a step-by-step roadmap for reaching it! Welcome back to the Real Estate Rookie podcast! Whether you’re eager to hand in your two-week notice or dream of retiring with real estate, Tony and Ashley provide a simple blueprint any beginner can follow. By the end of this episode, you’ll know how much money you need to comfortably leave your nine-to-five job behind, how many rental units you’ll need to achieve your cash flow goals, and proven tactics you can use to build and scale your real estate portfolio. But that’s not all. You’ll learn about the different ways to tap into your home equity and buy properties faster, choosing an investing strategy that supports your lifestyle and long-term goals, and the variable expenses you’ll want to account for during real estate investment analysis! In This Episode We Cover Seven simple steps to achieving financial freedom with rentals How to calculate your “freedom number” (and then reach it!) Determining how many rental units you need to quit your W2 job How to choose the right investing strategy for your long-term goals Variable rental expenses you can’t afford to miss when analyzing deals The three main levers you can pull to buy rental properties faster Four ways to tap into your equity and scale your rental portfolio And So Much More! Check out more resources from this show on ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠BiggerPockets.com⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ and ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠https://www.biggerpockets.com/blog/rookie-606 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

Transcript

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0:00.0	What if one simple number could tell you exactly how many rentals you need to walk away from
0:05.5	for your 9 to 5?
0:07.1	And when that day could be circled on your calendar?
0:10.1	We're about to play the rookie freedom number game.
0:13.1	And by the end of this episode, you'll know your personal freedom number and the property
0:17.3	roadmap to hit it step by step.
0:24.5	This and the property roadmap to hit it step by step. This is the Real Estate Rookie podcast.
0:27.0	I'm Ashley Care.
0:28.2	And I'm Tony J. Robinson.
0:29.7	And with that, let's get into these steps you need to follow to find and execute on your
0:34.3	freedom number.
0:35.5	All right.
0:35.8	So we spent most of this episode talking through this seven-step journey, but let's focus a little more attention on your freedom number. All right, so we spent most of this episode talking through
0:37.8	this seven-step journey, but let's focus a little more attention on your actual finish line.
0:43.5	So one of the things that you'll start to notice as your portfolio grows is that your equity
0:48.9	starts to grow as well. And different investors have different plans, ideas, beliefs when it comes to equity.
0:57.0	Some want to leverage it. Some want to protect it. And it's a very personal choice that every
1:02.8	investor will have to make for themselves. But equity is capital that can be used to help you keep
1:09.3	growing your portfolio if you choose to do it that way.
1:12.3	And I think the goal for us is to just quickly talk through planning for your equity and how you
1:17.8	can use it to scale your portfolio to get your freedom number faster.
1:22.0	So step number one is to define your baseline.
	...

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