All Forum Posts by: Jeff Irwin

it is about to go on the market. 

However,  I was wondering if I should buy my sister out since I already have half the equity and turn it into a rental? Selling price would be approx 180,000 and rents for nice homes in our zip code are 1200-1400. That would be less than 1% -----If I had to buy the whole thing. But, since I already own half, I could buy her out for 90,000 + closing bla bla black

Please give me your thoughts.

Forgive me for thinking out loud here

So, if I had 12 doors rented at $1,000 each per month

and they were paid off-----then the 50% rule would put me at the $6000 month passive income I seek. The remainder would be held in the business account for expenses?

Curt,

it is prudent to "have to be factoring vacancy/repairs/cape"?

So, the idea then would be to plod along making your mortgage and repairs monthly until such time that you pay off the property. Then your cash flow goes up significantly.

What about a guy like myself that is starting at age 51?

So, in my reading, it appears that many pro level investors look for $100 per door in cash flow. So, if I am reading this correctly, and I want to set a goal of $72,000 year in passive income, that is $6000 per month. At $100 per door, I would need to acquire 60 doors.

Am I missing something?? That seems like an awful lot of properties to acquire in order to passively earn a modest income.