Initial goals

[Adam Beckstetdt]

I initially set my goals and honestly I think I am selling myself short. These were my initial goals.

This year - $1k/month in cash flow

2nd year - $3k/month in cash flow

3rd year - $7k/month in cash flow

I am starting with roughly $400k and I want to leverage this amount to maximize the amount of properties and cash flow. I will be working a full time job with alot of flexibility on time required. This will give me the steady income alongside deal flexibility. I want to create a very high but achievable goal with what I am starting with. I have experience with flipping but I plan on almost a strict buy and hold philosophy. I may run into deals that offer a good flip at some point and wont completely shun the idea. 

I'd appreciate everyone's perspective on what they feel is achievable. If I was able to close on a deal every 2 months and get $500/month cash flow that would put me at $3k/month at the end of the year with 6 deals. Obviously each deal has its own potential. I am going to stick to multi family housing idealy 4+ but I may do some duplexs as well. If I stick to deals where I will achieve a 20% ROI I will be putting out roughly 25k per deal and spend only 150k of my initial capital. Assuming the same return of 20% caps me at 12 deals and still leaving me with 100k for cash reserves. After those 12 deals I will exhaust a few lending options but proving I can be successful will open up other options for financing and one being my parents which could finance quite a few deals for me. Especially since they have a large capital just sitting in the bank.

Considering some of these point I want to reevaluate my goals. Id like to here from a few of the BP members with more experience before setting my goal amounts. I appreciate your time reading my post and especially since its probably all over the place.