Frankly, every deal we buy has to meet some minimum requirements. But we don’t wake up in the morning dreaming of the home run… I’d rather hit a single or double consistently than strike out 3 or 4x before I finally hit that home run.
How many home-runs does a baseball team need to win the game? You can win with no home runs. It’s pretty hard to win without any doubles or singles though (not saying it’s impossible).
Be an expert in your market and consistently aim to hit singles and doubles. Once you get up to bat enough times you will find that perfect pitch that you can hit out of the park.
We have been lucky and hit one or two houses out of the park, but if we weren’t established in the business we would have never got the opportunity to go up to bat in those situations.
You’re probably not going to get to $10,000/mo cash flow on your first deal.
Just a reminder for myself that will maybe help some of the other readers out there.