I would like feedback on my investment goals
Hello all! I am a new investor in the Tampa, FL, area, and I'd like to get feedback on the goals I'm setting that will help me get started. I want to make sure my goals are realistic and achievable but challenge me.
I followed the BP methodology from their goal-setting blog. For context, I am in this for the long haul and am more focused on gaining experience than making a profit for my first few houses, so while making good passive income will be nice, my 2022 goal is more focused on experience.
Below is my Why, How (Lag Indicators), and What (Lead Indicators):
Why
I want to make $250 net income per month by the end of 2022 because I want to build my savings to feel secure
How
To do this, I want to purchase one 100K-200K turnkey or BRRRR investment in a 30-mile radius of Tampa that yields $250/month in cash flow after all expenses.
What
I plan to set up searches and network with local investors and the BP community to do this. I will also analyze homes within my peace range of 59-75% ARV and desired cash flow range.
Most Popular Reply
Great goal. But if possible I’d keep that $250 in the business for as long as possible, so that when major expenses pop up you don’t have to pull from … savings :) eventually, the good months will add up and you can extract some profit / income to build savings personally, but initially I recommend adding to the business’s savings.