I'm relatively new to the BP site and to real-estate investing in general. I have been busy over the past year or so educating myself through reading books, forum posts, and talking to people I know that are already in the game.
I have recently begun looking at multifamily properties in the Tampa/Bradenton/Sarasota area of Florida.
I have a few general questions on using the BP rental property analysis tool:
1. what are other's General experiences in "success rate" in terms of finding a deal that provides an acceptable cash flow? I know this is a loaded question, but it seems like I can't get a property to put out a positive cash flow and am wondering if I am doing something incorrect in my data entry and assumptions or if there are really that few truly good deals out there at an advertised listing price.
2. is there a way in the calculator to set a desired cash flow or rate of return along with expected financing, income and expenses, then back-calculate the sale price that would deliver these results (besides re-running and editing the sale price myself)?
Thanks in advance for any insight you Elect to share. I'm hoping to get my first deal done within the next 3-6 months.
My pleasure. Happy to help!
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