BiggerPockets

Okay everyone, April is here! I hope you all were successful in obtaining your goals in March!

As I'm sure many of you know, goals are the foundation to success. Goals help us keep focused, motivate us, and give us something to pat ourselves on our backs about at the end of the day (or month). Without goals we are just wandering around in the dark, hoping to stumble upon success.

One aspect of goal setting, that is vital in its effectiveness, is recording or verbalizing them. Tell people about them so you will be, in a sense, held accountable for them. This will help motivate you.

Write your goals down so you see them everyday. I have a white-board in my bedroom with my yearly and monthly goals written on them. I see them every day when I wake up and every night when I go to bed. This kind of auto-suggestion has been studied and proven to be an effective way to get things done. Stay positive!

This thread will be a way for everyone to record their goals. Record them in this thread and revisit it often. Read the goals of your peers and people you look up to.

Ready...Set...GOGOGOGOGOGOGO!

Is it April already?

Well, I did much better on my March goals than my February goals (let's not talk about that).

I got a bunch of units rented. I'm not even sure how many, but it was more than my goal of four. This wasn't due to my exceptional landlording or marketing skills, but simply due to the weather finally improving. So, a gold star for this goal and a big THANK YOU for the improving weather!

I hate putting the data into the computer for taxes!!! So, my goal of getting my tax info into the computer for four of my companies - well, let's just say that I called my tax lady and had her file extensions (just like every other year).

My goal of rehabbing at least two units - DONE! Another gold star.

Now, my goals for April:

Get 3 more units rented (I only have 4 vacant now).

Paint at least three exterior walls of the pink elephant (my new pink apartment building). I'm painting it dark gray with white trim. Calling it an elephant isn't really accurate. It's more like the titanic. It is absolutely huge and stretched out (as opposed to being in a U shape) would easily take up half a block. How do you eat an elephant? One bite at a time. How do you paint the titanic? One brush stroke at a time! I started today!

Taxes? Yes, I guess I better work on putting the data into the computer for the taxes. I'm not setting another goal that I won't make. How about a goal of getting them done before my 6 month extension runs out!

Get started with our summer routine of 3-4 day weekends almost every week with camping, motorcycle riding, scuba diving, bicycle riding, etc. It's been a L O N G winter and I'm ready! That's one goal that I should easily meet. Priorities, I guess!

Mike

Currently in my area nothing cash flows - it never has, it never will. In addition, my city is VERY unfriendly to rental property. Since jobis one where I can move to anywhere in the country, I decided last September that I would give myself two years to finish all the " half completed jobs" to my primary resident, sell it, move to " flyover country," and buy my first rental property by October 2009. I set for myself milestones which needed to be accomplished each month to make this happen.

I find these goals to be a wonderful motivational factor. They get me off of the computer and the recliner and lead me to the final goal of being able to spend more time with my family (and my wife doesn't mind me doing all the work I am accomplishing as well :) ).

Last month's goals were to paint a room and cover, install and wire into the electrical system smoke alarms, tar paper and shingle the patio. This month's goals will be to plant flowers in our front yard rock bed (along with drip sprinklers), install a storm door, and a retaining wall in the back yard.

These seem ambitious but isn't that what goals try to accomplish?

My main goal for April is to get a contract signed on an 8 plex I've been looking at. I have an equity partner who is willing to put up the capital if I just manage it...then we both split equity & earnings after his 10% required return.

All I've had to this point is residential single dwellings....taking a known calculated risk with this 8 plex but I'm up for the challenge.

My goal for April is to purchase my first property. I have a couple that I am looking at and negotiating on so I am hoping that one of them will materialize into my first purchase!

We are newbies, so our goals are pretty simple.

Wholesale our FIRST property.
Lease option our FIRST property.
Begin placing bandit signs in our area.
Create a website.
Get an 800 number.
Start the phone ringing!
Learn, learn learn!
Find some folks in Denver, CO to network with!

I ended up being a little over 50% on my March goals, and 90% by end of April for those goals (hopefully).

For April, actionable items:
1) Generate 5% response on direct marketing campaign
2) Deploy new website for Denver Homebuyers
3) Minimize (closets and basement), organize (office), scrutinize (marketing)
4) One new deal under contract
5) Hike more, WoW less

Also on the radar:
Smooth closing on both scheduled transactions
RE conference next week

The month is half over already, but here are some of mine for the rest of it.

Get at least one offer on the property that I'm trying to sell.
Start looking for the next property.
Network with other investors.
Find at least 2 more private lenders to work with.