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Updated over 8 years ago,
Newbie question, what do you consider a good deal?
Hello, I am a new member located in Maine. I am looking into some real estate investments in my region, and I'm a bit stuck on return goals. I already own a 3 Unit that I picked up for 169k, and it brings in 2575 in rents, so it passes the 1% rule and I believe even when you dig down on expenses it has a great return. So now I'm eager to add another property. But nothing in the region meets what the suggested return of BP seems to be (at least $100 per month in cash flow per unit, or 10% cash on cash return - this is from the youtube video "How I quickly analyze a rental property for cash flow."
So my question is, do I have to wait to find these numbers, or should I feel comfortable with stats that are not as great? i.e., do the majority of investors look for this 10% cash on cash number or is that just something to aspire to?
thanks for any insights!