Each investor eventually determines what return is worth all the hassle and headache. For me, I want at least $150/month positive cash flow off each unit (1-4) with the possibility of making extra payments from the cash flow so I can have the house free and clear in 10 years or less. Those are some tuff standards. But I know when I get a house in these parameters, it’s a real deal.
For all of you who are in the exploratory phase of rei (trying to determine if this stuff really works, and, if it does, how you will do it), I have two questions for you:
What is stopping you from getting involved, even if only in a small way at first?
What is one thing (knowledge, skill, etc) that, if you had it, you believe you could get started right away?
I suspect you will get from free, good advice in response from some experienced folk who lurk here occasionally.
Re: For the newbies: If you could get… - Posted by Dan Schiavoni
Posted by Dan Schiavoni on January 27, 2001 at 17:15:27:
I am new at this. What kind of return should you look for mo./yr. when purchasing a rental house/ apt. house. Is there a formula a beginner should follow.