What does it take for you to cash flow $1K/month?
Hello,
I’d like to get an idea of what it takes for you to cash flow $1K/month. I am a newbie and in the midst of ironing out my short and long term plan/goals. I believe that if I can cash flow $3K/month I can quit my job and get by (barely). That is assuming I am living off my cash flow. I will have reserves already lined up for my properties if I quit my job.
While I understand there are so many variables in real estate, I just want to get real world examples of what $1K/month cash flow looks like. Is it from SFH, multi-family, commercial? I would appreciate if you could follow the template below. It will give me and I'm sure many others a benchmark in which to start.
Location:
Type of property:
Monthly rent:
Expenses:
Mortgage:
PS - I understand you might have to combine several properties to get $1K/month cash flow, please write that down too!