现金流是一个盈利指标...

as a value RE investor, I think positive cash flow is the most important key.

there really isn't a good or bad time to buy real estate, the only thing it matter is, what is your entry point and what is your exit strategy.

in an up trend market, I only make a move when there is a 30-40% spread, in a down trend market, I need to see at least 50+% discount.

the 3 most frequently used ratio are, debt coverage, CAP rate, and cash on cash.

1. when I look at a property, I always use zero down, NOI/(interest to bank + interest to me)>=1.1

2. CAP, of course, I need to see 10% CAP.

3. CASH on CASH, 15% or more.

NPV, IRR, easy to do on paper, but in reality, hardly can be followed. RE as a small business, has too many unforeseen variables, any unexpected repair can wipe out the whole cash reserve.

所有跟帖： 

• Ding --企鹅-- ♀ (0 bytes) () 03/23/2012 postreply 10:49:28

• 收了2块钱租金，后来发现房子不值钱了，还欠银行一屁股债。 -好女婿坏女婿- ♀ (11 bytes) () 03/23/2012 postreply 10:58:49

• 那就是:现金流是一个盈利指标....遇到"刮风下雨"的就烂船还有三斤钉了啊... -MrsKwok- ♀ (0 bytes) () 03/23/2012 postreply 11:05:37

• JY说的比较好懂.折腾房子没啥大道理的.... -MrsKwok- ♀ (0 bytes) () 03/23/2012 postreply 10:59:47

• 对专业地主肯定是，否则如何run下去?但对非专业地主，就未必，因为只要卖时是赚钱就可以了，日常的现金流不是 -trimtip- ♂ (258 bytes) () 03/23/2012 postreply 10:59:56

• 或许是专业地主和专业倒房的思维不一样. -MrsKwok- ♀ (0 bytes) () 03/23/2012 postreply 11:07:50

• 专业地主和专业倒房的必须靠租金得来现金流来维持自己的日常生活，否则如何活下去？非专业地主不靠租金生活，还可以贴损失 -trimtip- ♂ (33 bytes) () 03/23/2012 postreply 11:12:29

• 专业倒房=非专业地主 to me.hahaha... -MrsKwok- ♀ (0 bytes) () 03/23/2012 postreply 11:16:09

• 对!这就是俺的观点.... -MrsKwok- ♀ (0 bytes) () 03/23/2012 postreply 11:58:58

• 既然老大这么说了，我也就不解释了 -万枫- ♂ (0 bytes) () 03/23/2012 postreply 11:02:58

• Bro, to some extent, I agree with you. -Jy101- ♂ (254 bytes) () 03/23/2012 postreply 12:22:19

• :)) 当然， income over expense is 盈利指标 -万枫- ♂ (227 bytes) () 03/23/2012 postreply 12:44:10

• Unlike big corps, poor landlords don't have unlimited borrowing -Jy101- ♂ (117 bytes) () 03/23/2012 postreply 12:55:50

• yes, actually NPV, IRR the same thing in your list 1 and 2 -大家帮我买房- ♂ (541 bytes) () 03/23/2012 postreply 11:07:28

• 从单句看，我是支持现金流不是盈利指标，但是万枫的文章割裂现金流和盈利的关系是不对的。 -大家帮我买房- ♂ (219 bytes) () 03/23/2012 postreply 13:17:44

• 顶！ please explain ("interest to me") -比花花还花- ♂ (104 bytes) () 03/23/2012 postreply 11:11:51

• 自个口袋的钱也是钱啊.俺算这些时也是把自个钱(头期啥的)都算进去... -MrsKwok- ♀ (0 bytes) () 03/23/2012 postreply 11:15:20

• Opportunity cost. -Jy101- ♂ (95 bytes) () 03/23/2012 postreply 12:24:48

• 老大说得是理 -MLJ- ♀ (0 bytes) () 03/23/2012 postreply 11:22:15

• 还是版主简单易懂。俺的brain 和你一样很small. -jessefan- ♀ (61 bytes) () 03/23/2012 postreply 11:25:02

• 还是斑竹的说法比较易懂好用，只是你定的标准太难实现了。 -小心翼翼的小地主- ♀ (2 bytes) () 03/23/2012 postreply 11:36:42

• CO:说法比较易懂好用，只是你定的标准太难实现了。 -螺丝螺帽- ♀ (0 bytes) () 03/23/2012 postreply 11:56:48

• 说的好，记下了。 -SunshineInCA- ♀ (0 bytes) () 03/23/2012 postreply 11:58:36

• What is CAP? -猛牛- ♀ (0 bytes) () 03/23/2012 postreply 12:24:23

• 俺只follow大地主们租金>房价1%标准。 -tiansan- ♀ (174 bytes) () 03/23/2012 postreply 12:45:36

• 老大能否结合一个你的实例来说明一下 -IntoTheWild- ♂ (330 bytes) () 03/23/2012 postreply 20:29:24