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Updated almost 8 years ago,
What do you shoot for on a per door rate of return?
I know I want to focus on multi family buy and hold but I have not made a purchase yet. I plan to purchase a few this year to get my feet wet and find out a good cycle of dealing with tenants. I plan to do my property managing for the first few until I get a good feel and then go to a property manager once I feel I am too big to do myself.
My ultimate goal is 100k/month cash flow. I was initially thinking that would mean 1000 doors at $100 each but I am wondering what everyone shoots for. Maybe I am low or high in my goal. I would obviously prefer to be low in that amount. I have been verbalizing and describing my goal based off of doors but I am thinking that is wrong and maybe sends off the wrong message.
Example: If I could do a commercial property and made 3k/month off of one door this completely skews my numbers.
So I guess my questions are on MF homes like duplex to 6 plex what are people getting realistically per door and also on apartment complexes. Does that amount change. Ultimately I feel I will need to get into 100++ units in the future to achieve my goal but one step at a time.