Letâ€™s start 2010 Goals Early

Sit back over the next week or so and think about what you want to accomplish. The Thanksgiving week is a perfect time to do this as you are likely around friends and family having a good time, instead of New Years Eve where alcohol and parties rule the day (not to mention that New Years kiss from the someone special).

We chose real estate investing for the lifestyle it can provide and thus lets set some goals to accomplish over the next 13 months.

I'll start.

I will add 10 REO rentals to my portfolio that each produces greater than 20% cash on cash return.

Good Investing

Edited: 06/26/2010 at 10:36AM

Steve McVey

Landlord · Hendersonville, Tennessee

188 posts
1983 Influence
5 Awards

Icon_minipost Nov 21 '09, 01:17 PM

For Me:

Adding 4-5 SFH and/or Duplexes ... and if its REALLY good year, add an apartment building.

Still researching on how to finance an apartment building ... :)

Edited: 06/26/2010 at 10:36AM

M Lindgren

Homeowner · Troy, Michigan

22 posts
124 Influence
1 Award

Icon_minipost Nov 21 '09, 10:42 PM

My goal for last year was to start out and buy 2 properties and get them rented-I was able to do 4 and have more importantly calmed my wifes nerves with respect to buying real estate.

For the new year my goal is to add another 4 properties. I already have offers in for 2 of them so hopefully I get off to a great start.

Good luck to all!

Edited: 06/26/2010 at 10:36AM

Ted Harris

Real Estate Investor · Portland, Oregon

660 posts
27102 Influence
15 Awards

Icon_minipost Nov 22 '09, 01:30 AM

Add two las vegas rentals which meet the 50% rule to my portfolio.

Edited: 06/26/2010 at 10:36AM by Ted Harris

Account Closed

110 posts
1268 Influence
3 Awards

Icon_minipost Nov 22 '09, 02:26 AM

Get our new system into production late in December or early in January.

Hold the line on the current portfolio and keep as close to 100% occupied as is possible. Hope for no more then a 10% drop in year-on-year receipts, but reality is, so we will see.

No new purchases unless they are just too good to pass up.

Relax a bit more, enjoy this time of good health and just be happy.

Edited: 06/26/2010 at 10:36AM

Mariah I.

Real Estate Investor · Reading, Massachusetts

6 posts
238 Influence
1 Award

Icon_minipost Nov 22 '09, 04:45 AM

This being my first year in the business, I would feel accomplish by completing one wholesale deal by the end of the year. As for 2010 my goal is to be focused and to turn this part-time hobby into a full time passion by buying/selling at least 1 property per month.

Developing skills and starting to create a niche for myself to truly be dubbed a "Real Estate DIVA"

Edited: 06/26/2010 at 10:36AM by Administrator : Signature info belongs in your signature

Michael Zuber

Real Estate Investor · Fresno, California

90 posts
2011 Influence
9 Awards

Icon_minipost Nov 22 '09, 08:56 AM

These are all great goals!!!

Good Investing ...

Edited: 06/26/2010 at 10:37AM

Eddie Ziv

Real Estate Investor · Studio City, California

1803 posts
12555 Influence
9 Awards

Icon_minipost Nov 22 '09, 09:20 AM

Well, lets define goal as oppose to resolution... I see resolution (As in New year resolution) something we hope to achieve but without the commitment. Goals seems to force us into thinking of ways to achieve them.
Goals are not something you "hope" to achieve but rather attainable.
My goal for the next 13 month is to pay off all my loans (Except estate or student loans) . (Achievable)
Back in the middle of 2008, my goal was to buy 4 rental SFRs in 12 months. I bought 6.
I cannot say in 100% certainly that I will, but I hope to buy at least two more in 2010.

Edited: 06/26/2010 at 10:37AM

Steve L.

SFR Investor · Rancho Cucamonga, California

828 posts
6968 Influence
8 Awards

Icon_minipost Nov 22 '09, 02:38 PM

I want to get to 20 SFH/Duplex for rentals by the end of 2010, I have a bit of a head start though, as I set the goal in September.

Edited: 06/26/2010 at 10:37AM

Joseph Ziolkowski

Inspector · Alsip, Illinois

364 posts
2488 Influence
5 Awards

Icon_minipost Nov 23 '09, 05:51 AM

My 2010 goal is to take my wholesaling business full-time (at least the income), use it to pay off all of my consumer debts, put $10,000 in the bank for a rainy day, fix my house up to my specs, and save up enough reserve to buy my first rehab.

Edited: 06/26/2010 at 10:37AM

Michael Zuber

Real Estate Investor · Fresno, California

90 posts
2011 Influence
9 Awards

Icon_minipost Nov 24 '09, 05:07 AM

Another set of Great Goals!!!

Good Investing

Edited: 06/26/2010 at 10:38AM

Michael Rossi

Real Estate Investor · Ohio

4587 posts
14256 Influence
14 Awards

Icon_minipost Nov 25 '09, 08:26 PM

My 2010 goals, starting in January, are to spend a lot of time working on my snowboarding and take at least one good snowboarding trip. In addition, I joined a sportsman's club in 2009 and have gotten started shooting in USPSA, IDPA, Action Pistol, American Steel Plates, and other defensive pistol type venues. I would like to rapidly improve my skills in this area so that I can win some of the local competitions.

As spring and summer arrives, my goal is to get back to frequent camping trips and take some mountainbiking trips.

I also plan to become even more politically active and attend at least one tea party protest in Washington D.C. and to be active in the fight to improve our concealed carry law in Ohio. More importantly, I will work to get the socialists voted out of office starting in 2010.

Those are my main goals for this year. From a real estate perspective, my goals are to keep the occupancy up and keep paying down the debt (which continually improves my net worth).

Edited: 06/26/2010 at 10:39AM

Eddie Ziv

Real Estate Investor · Studio City, California

1803 posts
12555 Influence
9 Awards

Icon_minipost Nov 26 '09, 12:43 AM

Originally posted by MikeOH

I. More importantly, I will work to get the socialists voted out of office starting in 2010.

Hey Mike, have you found a new Joseph McCarthy yet? Time to crank it up a notch.... :pissed:

Edited: 06/26/2010 at 10:39AM

Jeff Tumbarello

Real Estate Investor · Fort Myers, Florida

949 posts
3130 Influence
6 Awards

Icon_minipost Nov 28 '09, 09:24 PM

Originally posted by Michael Zuber

Good news I just granted you 13 Months to accomplish your 2010 goals.

Sit back over the next week or so and think about what you want to accomplish. The Thanksgiving week is a perfect time to do this as you are likely around friends and family having a good time, instead of New Years Eve where alcohol and parties rule the day (not to mention that New Years kiss from the someone special).

We chose real estate investing for the lifestyle it can provide and thus lets set some goals to accomplish over the next 13 months.

I'll start.

I will add 10 REO rentals to my portfolio that each produces greater than 20% cash on cash return.

Good Investing

20 percent a year from cash flow?

Edited: 06/26/2010 at 10:40AM

Claude Hodge

Real Estate Investor · Castle Rock / Ft. Carson, Colorado

111 posts
349 Influence
2 Awards

Icon_minipost Nov 29 '09, 07:48 PM

Never too early to set goals! For 2010, I want to buy my first rental before I get out of the Army. I want to hold it for at least 6 months to make sure I know what I am doing, then buy my next. So, I guess my goal is to at least buy my first 2 rentals in 2010.

Claude

Edited: 06/26/2010 at 10:41AM

Jeff Tumbarello

Real Estate Investor · Fort Myers, Florida

949 posts
3130 Influence
6 Awards

Icon_minipost Nov 29 '09, 08:08 PM

Originally posted by Eddie Ziv

Well, lets define goal as oppose to resolution... I see resolution (As in New year resolution) something we hope to achieve but without the commitment. Goals seems to force us into thinking of ways to achieve them.
Goals are not something you "hope" to achieve but rather attainable.
My goal for the next 13 month is to pay off all my loans (Except estate or student loans) . (Achievable)
Back in the middle of 2008, my goal was to buy 4 rental SFRs in 12 months. I bought 6.
I cannot say in 100% certainly that I will, but I hope to buy at least two more in 2010.

The most successfull New Years Resolution I had was, to never again use Tall or Grande when ordering coffee. I figured I would start low and work my way up. :cool:

Edited: 06/26/2010 at 10:41AM

Jeff Tumbarello

Real Estate Investor · Fort Myers, Florida

949 posts
3130 Influence
6 Awards

Icon_minipost Nov 29 '09, 08:09 PM

Originally posted by MikeOH

My 2010 goals, starting in January, are to spend a lot of time working on my snowboarding and take at least one good snowboarding trip. In addition, I joined a sportsman's club in 2009 and have gotten started shooting in USPSA, IDPA, Action Pistol, American Steel Plates, and other defensive pistol type venues. I would like to rapidly improve my skills in this area so that I can win some of the local competitions.

As spring and summer arrives, my goal is to get back to frequent camping trips and take some mountainbiking trips.

I also plan to become even more politically active and attend at least one tea party protest in Washington D.C. and to be active in the fight to improve our concealed carry law in Ohio. More importantly, I will work to get the socialists voted out of office starting in 2010.

Those are my main goals for this year. From a real estate perspective, my goals are to keep the occupancy up and keep paying down the debt (which continually improves my net worth).

You can use the snowboard pictures as part of your "close" for your 3 day bootcamp :lol:

Edited: 06/26/2010 at 10:41AM

Michael Rossi

Real Estate Investor · Ohio

4587 posts
14256 Influence
14 Awards

Icon_minipost Nov 30 '09, 12:55 AM

You can use the snowboard pictures as part of your "close" for your 3 day bootcamp

Good idea Jeff! Now, I just need to come up with some guru nonsense idea for a bootcamp.

Edited: 06/26/2010 at 10:41AM

Eddie Ziv

Real Estate Investor · Studio City, California

1803 posts
12555 Influence
9 Awards

Icon_minipost Nov 30 '09, 01:11 AM

Originally posted by Claude Hodge

Never too early to set goals! For 2010, I want to buy my first rental before I get out of the Army. I want to hold it for at least 6 months to make sure I know what I am doing, then buy my next. So, I guess my goal is to at least buy my first 2 rentals in 2010.

Claude

Claude, I assume that the car in your avatar is your inspiration. If you own it, I would strongly recommend to sell it and buy real estate instead.
Many people do that mistake (I used to be one of them). Buying an expensive car where they could buy a piece of property and then another one, and then another one until they have enough money to buy that car which they now can afford... :wink:

Edited: 06/26/2010 at 10:41AM

Jeff Tumbarello

Real Estate Investor · Fort Myers, Florida

949 posts
3130 Influence
6 Awards

Icon_minipost Nov 30 '09, 01:25 AM

Originally posted by MikeOH

You can use the snowboard pictures as part of your "close" for your 3 day bootcamp

Good idea Jeff! Now, I just need to come up with some guru nonsense idea for a bootcamp.

I would suggest 1 Minute to Rental Property Riches :mrgreen: :lol: :cool:

You could not be a guru, you actually do it......

How Is Mike?

Edited: 06/26/2010 at 10:41AM

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