Retirement plan

[Vincent Hawkes]

I have a question...I've been a SFR flipper for some years now while holding a full time job...basically haven't had many real days off for years. So you can kind of say I am tired. I have never indulged in multi-family but I do have some cash amassed. To all you experienced multi-family investers, in todays market at todays prices, is it possible to buy several, say, 4plexes, that will cash flow to add up to monthly retirement income. I am not really looking for appreciation gain more monthly cash flow. Like first two doors cover all costs and last two doors provided cash flow per 4plex unit. I basically want to do nothing!...well ok, I will do some of the minor repairs, but I do plan on using property managers. I know back in the "08" era you could easily buy great deals but, in todays market can it be done without looking for the proverbial "needle in the haystack"?

[Mark W.]

Hi @Vincent Hawkes. I'm on the mindset that there are always great deals out there as long as you know what you are looking for. It sounds like you are looking for a turn-key deal (new construction, or one that's already renovated). I'd suggest putting some additional thoughts into what kind of returns you desire (cash-on-cash return, cap rate, IRR, etc). You won't find these deals, unless you know what you are looking for. Then, begin building your team, starting with a property manager. While you are screening them, leverage their local market knowledge. They will be able to tell you all sorts of things, such as: 1) what property features and amenities will get you the highest rents in the area; 2) what areas are up-and-coming, and which ones to avoid; 3) they may even already manage a property for an owner who is looking to sell.