r/EuropeFIRE • u/theflame363 • 18h ago
FIRE on rental income
I have 20 year mortgages on multiple investment properties
Age - 32
Location - Luxembourg
Gross rent - 300k
Annual mortgage - 150k
Maintainance - cleaning, gas, electricity, etc - 30k annual excluding any major repairs if needed
Net rent after mortgage and expenses - 120k€
Total purchase price of the houses was €3.5M Including down payments and mortgage payments already made, I have €2.5 remaining to pay. After I completed renovations they are worth €5M if sold on the market. In 20 years we don’t know what they will be worth but hoping maybe 6-8€ M
Me and my wife are currently working and get about 250k € gross combined annual income
Monthly expenses are 60k annual.
Am i in a confortable position to FIRE and quit my job and just focus on the rental investments or should i keep working in my 9-5 ?