Buying First Property

[Matthew Gilbert]

Hi All,

My Name is Matt Gilbert. I've been a member of bigger pockets for a few years now. I have a goal of buying at least one property this year. I'd like it to be a multifamily as I have the capital and the returns are better. I don't know where I pulled these numbers from but I had the idea of buying a 4-plex for around $750k putting $150k down and generating $4000 a month in cashflow. I liked this idea because ideally I can buy another one in three years, and then in a year an a half and so on. I set up some keyword alerts and the first thing I've noticed is my numbers seem to be a pie in the sky fantasy. I am now trying to figure out some realistic expectations of ROI.

I suppose if anything had a 33% ROI my rollover time table would work, but netting $1000 a month in cashflow would make the long term goal take much longer. I know this is asking a lot but is there a table or a guide that would show if you invest X your cashflow should be Y. I'm trying to figure out for example if I invest $150k what should I shoot for in monthly cashflow. Conversely it would be interesting to know how much I would have to invest to get say $4000 in cashflow. I know location plays a huge part in the equation, I am just trying to make sure when I run numbers I know if my deal is good or not. I know I look at things weird but I'm trying to make it all make sense and get a good deal.

Right now I live in Orlando, FL but may be moving to Gainesville soon. In checking listings in both those areas there isn't much that seems fit what I'm looking for, so I would be willing to invest in other parts of the state.

I also need to find a mortgage broker that as experience in lending to investors. Any recommendations would be great.

Thanks for the help and guidance.