Hello!
I'm just getting started on BP. Love it! It's great to be connected to a community of like minded RE investors. So much to learn, so much to do!!
------ THE PLAN ------
I plan to purchase $3 mil of small Multi-Unit properties by the end of 2016. The general goal is to purchase *** FIVE *** 4-Plex's worth $600K each, where I put %20 down (so $120K down on each).
The stretch part of the plan - I'd like each 4-Plex to cash flow $2K a month. OK, well, if that's not realistic, I'm open to reason.
Ideal property is a C property in a B area (using an A,B,C,D area scale).
I live in LA but think the market is too overheated here to get anywhere close to the cash flow goal so am actively investigating & number crunching external markets (Atlanta, Tacoma, San Antonio, Charlotte, Austin, etc.).
------ THE HELP I'M LOOKING FOR ------
I'm looking for help locating these small Multi's that can cash flow.
I'm also looking for input regarding the cash flow goal. What's a realistic cash flow goal for a $600K 4-plex if I put 20% down? I'm willing to work, search, direct mail market, submit 3 offers a day, etc. etc. I've got 17 years experience with software so am very capable and actually really enjoy number crunching & analysis part of this. Really interested in your input/experience/guidance on confirming my cash flow goal or setting a more realistic one.
Great to meet ya's,
Daniel
