What does your Buy and Hold "Good Deal" look like?
I recently posted what my idea of a "Good" buy and hold deal looks like.
"$100.00 per door cash flow after all expenses are covered, is what I would consider a great deal (@Brandon Turner ). To add to this strategy, the $100 per door cash flow has to be from the property operating at the next lowest rent rate offered in the area. To elaborate on this, in the area i am looking to farm, a 3/1 would rent for around $1100. A 2/1 would rent for about $900. My potential 3/1 units have to produce at least $100 per door at $900 rent in order for me to take the next step. I have thought that this may be too conservative of an approach, but I won't find out until I make offers. I personally feel that this strategy would also give me more of a competitive edge with my units."
What are some you your strategies for buy & holds? When analyzing, when do you feel "the calm", right before you pull the trigger on what you think is a good deal?