Multi-Family Starting out

[Ron K.]

Hello,

I am looking to get moving on investing in MF. I have joined a REIA (Lifestyles) not at a the super charge level, just basic.

I have read pretty regularly on these boards.

Lastly, I have analyzed a few deals and considered getting into some, but haven't pulled the trigger yet.

My main goal - first year - is to net a gain of $3000 a month in cash flow. I am looking to see if there is a standard investment amount - number of units, etc that would get me to that goal? I can see how I can do it, by smaller ones and twos in the SF area. But I am really looking to do MF, and am trying to hone in on a price point and number of units that will get me to that goal. I know all complexes are different and the economics vary, but is there a rule of thumb here that will point me in an area to go?

I am in Austin - central Texas, and would invest in Dallas, SA, Houston, Austin - areas.

Thanks for any comments.