All Forum Posts by: Michael C.

So I have seen many references to people wanting to cash flow $100 per door on a property they are investing in.  Sounds to me like a reasonable and achievable goal.  However, I keep feeling like there is a component missing here that I haven't heard addressed and that is the notion of what you had to put into the property.  Maybe if you have it 100% financed this doesn't matter.  But if you have say 20% of your own money in the property it feels like I am missing the notion of cash on cash return.  If your upfront investment of cash out of your pocket is say $1million for one unit, getting $100 would be a terrible investment.  Now obviously that is an extreme and ridiculous situation that (I hope) nobody would ever do, but it still feel to me like if you say $100 per door, it should be with a cost basis or a cash out of pocket per door of $X.  Need some notion of relative value.

If that's right, what do people usually target as $X?  Or am I just mixing and matching concepts and off in the woods?

Thanks for your feedback.

Wow, love all the thoughts on here.  Didn't imagine this topic would go this far, but would love to hear more opinions, even from @Serge S. since Ben made the intro.

My situation is actually odd. I work at a publicly traded mid cap company. I lead the finance group there, working for the CFO. Its pretty demanding, mornings, weekends, and nights off and on. The interesting part though, is most of the exec team are serial entrepreneurs, who are largely on their last hurrah before retirement, so they all know what it is like to start something on the side (or just quite their old job to jump into it). This job pays well, and is a good part of what is funding my REI. At the end of the day, I don't think it would be perceived well, but as it was said, maybe I'll keep it close to the vest and once I have enough income coming in, I can be more open about it.

I'll be following to see some more thoughts.  Thanks for all the feedback so far!

So, I just finished listening to Podcast 60 with @SergeS and it got me thinking.  He was working a full time job, and took his business from 0 to 68 units in four years.  In the podcast he referenced very often he would be in meetings, etc and his phone would be blowing up with his "other" job.

What I was wondering is, for people like myself who are just starting out, but keeping our day job, how transparent should I be (or not) with my current company/boss about what I'm doing?  I have to imagine it will illicit a number of questions if my phone is blowing up all the time, or what if someone finds my company website (when I actually have one).  But clearly a double edged sword about explaining why you are starting to invest/building a business.  My inclination is to not mention anything, but didn't know what others experiences have been.  Appreciate the thoughts of anyone who has done it.

Mike

Thanks for the feedback everyone.  I will be looking into this!  Like the zoho.com tip.

I'd be interested in hearing about them as well.

[email protected]

Thanks!

Thanks for the feedback Al.  Appreciate it!

This may be slightly out there, but I am trying to set up a customer email for my new business.  I already have a domain name registered, and was looking to see if there were free email applications.  Looks like gmail and the like have all moved to a pay service.  What does everyone use for setting up their business email?  Do I have to resolve for paying someone for the service?  I'm not looking to just have a yahoo.com address or something like that.  I want to leverage my personal domain.

Appreciate any feedback!

Thanks so much @Scott Beck

I'm going to try and make that get together.  Looks like you are going to try as well.  Hope to connect there.  If it doesn't work there would definitely like to connect at some point.  Given where we live, I have a keen interest in Collin County properties.  I'll send a connection to make sure it doesn't get lost.  Thanks again!

I am going to try and be there.  Be great to meet some folks.