Is a 15% Cash on Cash Return Realistic Long Term?

[Joseph M.]

I am currently setting up my goals and would like to be realistic in my projected returns, because a couple of percentage points make such a huge difference.

My goal is to use $60K of my own cash from income or to use equity in my properties to buy 1-2 properties per year using leverage. If I use a 15% (in cash flow only) annual return on my new investments, at age 40 (11 years from now), I would have $1.68 Million, and at age 50, over $8 Million. These numbers are not adjusted for inflation and also don't include appreciation and loan pay down.

Has anyone been able to consistently average a 15% return long term on their cash using leverage?