cash flow/rents per month

[Jeremy Torres]

I'm 24 years old, I own 4 SFHs, I'm wondering what's your goal when it comes to monthly cash flow after PITI is paid and how do you determine what rent should be ?

[Joe Villeneuve]

You don't determine the rents...the market does.  Actually, the micro-market does.

Any of the rent sites mentioned above works fine, but you have to know how to interpret their analysis in order to get an accurate rent number.  Don't make the mistakes too many landlords do when they see the projections from the above sites:

1 - Never use the average rent they determine...it's wrong.  It's based on rental comps that have nothing to do with the property in question

2 - The sites will give you renges (color coded) for high, low and middle...and those don't apply to any rental.  They are just groups of rents that are all over the map.

3 - Only use the actual rents, regardless of the color, that surround the property in question.  If the property in question is surrounded by low rents, you're not going to get the higher rent just because you put in a new kitchen.  If you want higher rents, you have to buy in an area that is surrounded by higher rents.

I don't have a minimum or maximum. My CF requirements are initially based on how fast the accumulated CF (over 5 years or less) will recover my cost (DP). Once I have expanded (doubling) my seed money through the sale of these rentals (accessing my equity), my CF requirements are determined by the financial goals I have established from my specific financial needs (paying actual monthly bills). These financial goals are strategically placed in my REI Plan, that is specific to me (or the REI in question).