All Forum Posts by: James McCormick

Hi everyone! I'm brand new to investing and I'm looking to start networking and learning as much as I can. If anyone knows any good good groups in the Louisville, Fort knox, or Elizabethtown area please let me know!

@Joe Villeneuve I appreciate your feedback. I agree it's not the best way to get to that but it's just a rough plan. After analyzing deals if I find enough properties that do have 300 or more cash flow then that's great and I can change the business model to reflect it. I'm just trying to be conservative. My plan will be to get the highest return as is everyone's. If everyone out here is doing better than $200 on all there properties them I will not even consider it. I'm just here to see what people think and try and take everything with an open mind.

@Joe Villeneuve that is a great question. I watched a webinar here on bigger pockets and on it Brandon said he looks for cash flow to be $100 being a 'base hit', $200 being a 'home run' and $300 or above being a grand slam. I assume I may end up having properties that don't so well and I should have a least a couple deals that do very well. That being said I still want my return on investment to be a good percentage too. I choose $200 as an average overall cash flow per unit because I feel like that is very attainable. I don't want to shoot for $100 per unit because that essentially doubles the amount of units I need to acquire. I choose not to to go higher than $200 because I'm not confident that is very attainable right now. Moving forward this is all subject to change depending on how things play out.

So I'm trying to find my end goal and wanted to see if I was on track or not. My plan currently is to get 40 units that on average get $200 of cash flow per month. Once I get there I would shift my focus to holding for a couple years then selling properties in order to use the built up equity to pay off the mortgages on properties I already own. Essentially setting me up with around 13 or 14 units that are paid off. This in theory should increase my cash flow to the same level it would be at if I still had the 40 units all with mortgages. Same cash flow but with less properties and minimum debt. Just looking to see what you guys think.

I'd also like to learn about this group if possible. This seems to be the most active post in a while. 

@Nick Peters Thank you so much for the useful links. I'll be searching for a local group to meet with!

Thanks a lot! If I could find some people in my area to network with and not have to pay money like for REIA that would be a great start. REIA may come later. I definitely agree you need to jump in eventually. I'm gaining knowledge send saving money to be ready. Pretty new to all of this so I will need to study a bit more before I'm comfortable.

@Jaspreet Baveja Thank you so much! I will certainly have a lot of questions! This is a lot more in depth than some people make it out to be!

Hi everyone! I've been reading The Book on Rental Property Investing and I am repeatedly told to come here so here I am.

I was never taught about investing. I stumbled across it on my own. Honestly at first I stayed away from the housing investments all together. It was daunting and I started small with investing in mutual funds. I have recently had a change of heart. It seems to me that rental properties offer the best opportunity to make passive income that I can find. I've decided to start with the book and learn as much as I can before I get started. I look forward to the journey ahead!