Updated almost 2 years ago on . Most recent reply
Looking for second set of eyes on next rental property
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@Nick Roth Until very recently when I bought a terribly mismanaged and extremely underperforming property for cash with the plan of BRRRR after stabilizing it, my portfolio averaged $179/door/month. I know that's not a great return but I was paying down mortgages to build equity and had nice levels of reserves in my accounts.
I think now with the new mortgage-less property that’s an 8 unit my new average is at least $379/door/month.
There’s nothing wrong with a property that ONLY cash flows $200 per month. Rome wasn’t built in a day.
Get a thorough home inspection and make sure you're saving for your repairs and maintenance and your CapEx every month.