Attn Bper: Bens $1000 a month rule - learn it, love it, leave it?

[Matt R.]

I was just reading Ben's latest blog post and he brought up some real numbers after owning 100 doors. His experience has led him to the conclusion you need to get $1000 per month(sfh) in order to cover expenses and still make a profit. Now he is in Ohio but he is convinced this rule applies nearly everywhere. There are some exceptions for being local but if it was under $1000 that was more of a job/investment vs a semi passive income play. 

Here is his post;

http://www.biggerpockets.com/renewsblog/2015/03/03...

Should this be a rule like 50%? Let us know what you think.

[Dawn Anastasi]

Originally posted by @Matt R.:

Originally posted by @Dawn Anastasi:

I do not agree with it.  Only one of my single family homes makes over $1,000 in gross rent each and I still make money on them.

 Dawn you are savvy enough to be one of the exceptions. Would you think this is generally a good rule for newbies starting out?

Generally, anyone new at anything is going to make more mistakes than someone more experienced. However, newbies to real estate on Bigger Pockets have access to thousands of more experienced investors to help them with deal analysis and any questions they may have.  So it's like having thousands of mentors at your fingertips.  Plus, there are many people who are willing to work with someone locally just by having that person offer to buy them lunch or coffee.

Without having the internet, and sites like this, newbies didn't have as much of a support system.  So now, someone could take on a project like this.  It's just important to know your own limitations.