Setting key investment metrics
I have my first buy and hold under renovations currently and I’ll be the first to say it is not a home run deal. Nevertheless, I have been learning a lot. With that said, I have been working on developing some metrics to help me going forward whether to pull the trigger on a deal or not, my metrics are based solely on my personal finances and what I want to achieve long-term. Would definitely welcome your input on if these goals can be realistically met in the Baltimore County/Anne Arundel county markets that are in close proximity to the Baltimore metro area. I have nooooo interest in the city. See my goals below. All goals are being assessed based on a 5 year period and represents my desired net cashflow by year 5. The first goal is that the property should be able to rent for 1.5% of purchase price, once that is met, I take a deeper look to see how cash flow looks by year 5
SFR - $850/month
Duplex - $1275/month
Triplex - $1700/month
Quadruplex - $2125
What are your thoughts on these goals for my desired market.