What Types of Goals Should Investors Be Setting for 2017?

What Types of Goals Should Investors Be Setting for 2017?

2 min read
Sterling White

Sterling White is a multifamily investor, specializing in value-add apartments in Indianapolis and other Midwestern markets. With just under a decade of experience in the real estate industry, Sterling was involved with the management of over $10MM in capital, which is deployed across a $18.9MM real estate portfolio made up of multifamily apartments. Through the company he founded, Sonder Investment Group, he owns just under 400 units.

Experience
Sterling is a seasoned real estate investor, philanthropist, speaker, host, mentor, and former world record attemptee, who was born and raised in Indianapolis. He is the author of the renowned book From Zero to 400 Units and the host of a phenomenal podcast, which hit the No. 1 spot on The Real Estate Experience Podcast‘s list of best shows in the investing category.

Living and breathing real estate since 2009, Sterling currently owns multiple businesses related to real estate, including Sterling White Enterprises, Sonder Investment Group, and other investment partnerships. Throughout the span of a decade, he has contributed to helping others become successful in the real estate industry. In addition, he has been directly involved with both buying and selling over 100 single family homes.

Sterling’s primary specialities include sales, marketing, crowdfunding, buy and hold investing, investment properties, and many more.

He was featured on the BiggerPockets Podcast episode #308 and has been contributing content to BiggerPockets since 2014, with over 200 posts on topics ranging from single family investing and apartment investing to mindset and scaling a business online. He has been featured on multiple other podcasts, too.

When he isn’t immersed in the real world, Sterling likes reading motivational books, including Maverick Mindset by Doug Hall, As a Man Thinketh by James Allen, and Sell or Be Sold by Grant Cardone.

As a thrill-seeker with an evident fear of heights, he somehow managed to jump off of a 65-foot cliff into deep water without flinching. (Okay, maybe a little bit…) Sterling is also an avid kale-eating traveller, but nothing is more important to him than family. His unusual habit is bird-watching, which he discovered he truly enjoyed during an Ornithology class from his college days.

Education
Sterling attended the University of Indianapolis.

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It’s prime time to set some new goals. What types of goals should you be setting for the next 12 months?

While I’m not a big believer in taking much time off during this season, which is packed with opportunities, I do believe everyone should be taking an appropriate amount of time to set goals for the coming year. Unfortunately, we often don’t set specific enough objectives or have a solid plan of action that will deliver on what we really want. Most people have a number, right? That’s usually what they want to make in the next year. It might be $100k, $1M, $10M, or more. I suggest that you get far more specific this year.

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Leads, Units, and the #1 Most Important Number

How are you going to get to that top line revenue or income goal? What will it take to get there? Investors need to be thinking in terms of real estate leads and the number of units they need to close on in order to make their big goals happen. You want to set the goal and map out your plan to achieve it. My goal is to acquire 500 apartment units in 2017. In order to achieve that, I need to consistently look at deals everyday and send out offers practically every week.

Related: How to Set Short, Mid & Long-Term Goals on Your Quest for Financial Freedom

Just make sure you don’t just get busier and end up making less. Many do. Make sure your net returns and the money you really get to spend, reinvest, or add to your nest egg is really moving up as well. Be sure your profit margins stay strong, even as you grow your volume.

Goals for Improving Your Money Making Machine

If you’ve read some of my other blog articles on BiggerPockets, you know that I am a big advocate of hiring other people to assist in helping you achieve your goals (and theirs). Don’t try to do everything yourself. How many people do you plan to hire this year? What will they do? Where will you find them?

This is a part of working to make your business and investments more efficient, effective, and scalable. You may also want to create a list of areas of your business or certain tasks you want to outsource or automate this year. Where can you plug in systems to make things flow more consistently and profitably? Perhaps it’s property management, screening leads, or staying on top of tax deductions all year round.

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Related: How to Set Goals as a Newbie Wholesaler (& Actually Achieve Them!)

Effective Goal Setting

Thinking and setting goals is easy. So many people set goals and new year’s resolutions. Not everyone actually follows through. I recommend setting high goals and writing them every day. Some people write them once and then just read them daily. I write my goals when I wake up, as well as right before I go to sleep to keep them fresh in my mind. I believe that whatever you focus on the universe will give you, but you have to be sure to take the necessary actionable steps too.

What are your goals for the coming year?

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