Is that a reasonable goal–$200/unit (and one that all of you successful investors strive for)? I’m an engineer in real life and that’s the one piece of the equation that’s always been missing.
We have a two rental homes, and we’ve always gotten kind of close to that number, but it was probably dumb luck.
By the way I’m in Denver, and very few apt buildings seem to come close to getting you to $200/unit positive cash flow, at least not at the asking prices.
I’m exactly in your situation. I hear cash flow per unit numbers from some of the pros on this board that blows my mind! Where I live there’s no way a sane person would sell a property with the cash flow that propertymanager is listing on this thread. Why would he? Really? If you had an 6 unit building that gave you $1200/mo after all expenses would you be selling it for $58,000? I know I won’t! In the market I’m in a building that brings in $2950/mo starts at $295,000.
I guess that’s the difference between pros and us amatures!