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Updated almost 9 years ago,
Questions about Multifamilies and cashflows and other metrics
Hey guys, im 20 and looking to get into real estate investing, I'm about to get my RE license here in south florida on the treasure coast and have decided that multi-families would be the way to go for myself in the coming future. I'm currently putting my plan of action together.
My ultimate short term goal is to acquire 7 units in my first year, and possibly live in one of them.
As far as my long term goal is concerned, in ten years i would like to own a minimum of 75 units and scale myself as large as I possibly can.
My strategy is to buy multi units and hold them as rentals to build up my cashflows. I figured i could do most of the work on them myself, my step father is a skilled handyman and carpenter, so rehab does'nt scare me too much. I want to build a nice portfolio to aquire wealth and so that i always have income because RE is a commission based business. I'm unsure what kind of metrics i should look for when looking for deals. On average what kind of cashflows do you guys look for per door on multifamilies as well as ROI's, COC, and CAP Rates?
I would like to get 200 per door a month, so 600 a month on quad if i were to live in one of the units myself.
Just wanted to see what the pro's look for when they're making their moves.
Thanks guys