GOALS FOR THE NEW YEAR?

Moderator

Realtor, General Contractor, and Developer · Redding, CA · Member since 2009 · 7k+ posts · 4k+ votes

Seems like we were just answering this question. Time flies.

What are your goals for business in the coming new year?
What part has BP played in your business this past year?

I want to say Thank You to all of you that have helped me this past year, with your answers to my posts. I wanted to @mention all of you, to pull you in here, but there's too many!

Merry Christmas everyone, and here's wishing you a Merry Christmas and a prosperous and Happy New Year! @Joshua D. @Brandon Turner all your hard work is appreciated!

1 Reply

180 views

Most Popular Reply

Account Closed

Involved In Real Estate · Biloxi, MS · Member since 2013 · 76 posts · 30 votes

12y

My Goals:

1. Transition my full-time job into a part-time job, this will happen in April.

2. Bite the bullet and work as real estate agent for six months to a year for experience. Who knows, I may like it.

3. Open a property management company in the fall, possibly in the spring if I can find the right partner. I'm in full blown biz planning mode.

4. Get my broker license in July. This is the driver for the fall PM company launch.

5. Add two income properties to personal portfolio.

On the personal side:

1. Volunteer more of my time to good causes

2. Take one MBA class. I took last year off and regret it. I'm six classes out when I should be at four or five. Small bites

3. Run a marathon. At 15 miles now and hope scheduling works out to run in the Mardi Gras marathon in Feb.

4. Continue to live primal. Google primal blueprint. @Ann Watkins I read "Grain Brain" a couple of months ago, great health book, changed my life.

5. Get my six-pack captain's license. I'm scheduled for an April course.

6. Read often and start writing

7. My wife and I are going to start making homemade wine.

8. And above all else: Live, Love, and be Happy!

6 Reply

See this reply in the discussion

89 Replies

Jump to latestLatest

Sort by

Jon Klaus
Developer · Garland, TX · Member since 2008 · 8k+ posts · 4k+ votes
12y
Thanks for the mention, Karen. God willing, I'd like to build, or at least get started on 16 new homes by the end of 2014. I have lots for 10, so I'll need to find more. I'd like to sell off several of my rentals to partially fund the new construction.

My business has continued to morph from buy and hold, to new development. I expect to go back to buy and hold when the cycle turns down again.
2 Reply
Allen Denham
SFR Investor · Spring , TX · Member since 2011 · 14 posts · 5 votes
12y
Well my goal for 2014 is pretty simple so far, it's just to pay off the last mortgage I'm carrying because it's 7 % interest I know I could have paid 3 or 4 thousand and refied it but I am considering taking out a 401k loan the only problem with that is I can only take 1 at a time and you can not pay additional principle the reason I am thinking in this direction is because 1 or 2 years ago I was picking up propertys at great prices but now it seems to be really competative and it seems that most people have lost fear of prices going down it seems to me that houston is a sellers market now. I will be watching this post as I am curious of other peoples goals and might give me some ideals or inspirations.
0 Reply
Karen MargraveBusiness Member
Moderator
OP
Realtor, General Contractor, and Developer · Redding, CA · Member since 2009 · 7k+ posts · 4k+ votes
12y
@Allen Denham Have you considered new construction? I'm sure some others in sellers markets will be chiming in too. @Will Barnard @Bryan Hancock
0 Reply
Bill Gulley
Investor, Entrepreneur, Educator · Springfield, MO · Member since 2009 · 21k+ posts · 12k+ votes
12y
My initial goal will be to stay upright on the green side through 2014!

Overall, it's been a good year, any year on the green side is a good year. While I don't conduct business with anyone on BP, it's been fun, it keeps me hoping to stay current than if I just hung out in retirement without a mission!

Again Karen, and to all Merry Christmas! Be safe and love the ones you're with.

Oh, these well wishes made the 13,000th post, LOL :)
3 Reply
Allen Denham
SFR Investor · Spring , TX · Member since 2011 · 14 posts · 5 votes
12y
No I am not familar with new construction I imagine there is a lot to it and you would have to have the right contacts to make it happen properly.
1 Reply
Bryan Hancock
Investor · Round Rock, TX · Member since 2010 · 8k+ posts · 4k+ votes
12y
I want to increase our development from an $11M business to $20M next year. We're putting the work in to get things organized to do this next year.

BP has certainly helped with insight and funding from partners and investors.
1 Reply
Mehran K.
Investor · Wichita Falls, TX · Member since 2010 · 3k+ posts · 603 votes
12y
Merry Christmas to you as well @Karen Margrave!

I'm looking to add 5 or more properties (1-4 units) that meet all my criteria by the end of the year. Hopefully this equates to 10+ units and inches me much closer to me "leave the job" cash flow goal muhaha!

I also would like to start using private funds/money (have all been personal capital so far)for some of these acquisitions, with the goal of doing more deals at a time and making all parties involved money.

BP has been the backbone of all my investing. Practically all my education comes from the site. I've done some deals with @Dawn Anastasi , and plan on doing many more in 2014. Found a great reliable, investor friendly agent in @Ramon Jenkins as well. I've had the pleasure of networking with a couple hundred awesome seasoned and aspiring investors too! Being involved in the community keeps my mind fresh on REI so I can stay focused on my goals.

2014 and the many years to come, are going to be awesome!

Happy New Year all!
4 Reply
Kevin Martin
Jacksonville, FL · Member since 2013 · 226 posts · 116 votes
12y
Even though I am fairly new to biggerpockets, I am very grateful for all the information I have learned and the people I have met through biggerpockets. I am also grateful for the opportunity this site has given me to give back and possibly help someone involving my profession. Biggerpockets has opened my eyes to the infinite amount of possibilities that exists with real estate investing. I truly do believe my time spent on Biggerpockets this past year was the best investment I could have made.

My goal in 2014 is to design and build my first home which is also my first real estate purchase. After this is complete, I will do at least two solar spec homes with the help of my all-star team and Biggerpockets!

Happy Holidays and Good Luck to everyone in 2014!
1 Reply
Justin B.
Investor · Gaithersburg, MD · Member since 2013 · 660 posts · 441 votes
12y
I have a meeting to determine those goals next week. I will be posting them here so they are out there and I can try and hold myself to them.
1 Reply
Brie SchmidtBusiness Member
Moderator
Real Estate Broker · Chicago, IL · Member since 2013 · 6k+ posts · 5k+ votes
12y
my 2014 goal is to reach our acquisition goal of having 2 million in RE. I am hoping to get it done in the first part of the year so my husband can quit his job and start a new career. After that we will be focusing on paying down the loans for a long while. I am newer to BP so I cannot site any success stories yet, but I have already made connections that I think will be beneficial as we start acquiring again.
Podcast Guest on Show #132
Second City Real Estate4.821 Reviews
Website View Page
1 Reply
Karen MargraveBusiness Member
Moderator
OP
Realtor, General Contractor, and Developer · Redding, CA · Member since 2009 · 7k+ posts · 4k+ votes
12y
Please feel free to @mention your colleagues, I know everyone loves reading this stuff. As for me, we are sitting down this week and laying out our goals, so I'll post in a few days on ours. Also, @Brian Burke , @Ellis San Jose maybe you can weigh in.
0 Reply
Steven J.
Urbana, IL · Member since 2012 · 1k+ posts · 425 votes
12y
Well, first I've got to finish my goals and adjust my business plan for the new year. But to sum up where I'm going...

I'm aiming for 15 properties wholesaled within the year. Just over 1/ month on avg. I plan to build my business into a working machine that can function while allowing myself free time. I will gradually build into more and more marketing, finding leads, negotiations, and offers accepted.

More importantly, I will assist other investors in their endeavors and learn from the best. Not the mediocre, but the best ones I can learn from. I will not redesign the wheel but instead use what has been done in the past and improve upon it.

BP will continue to provide me insight and knowledge. I can look back and see how much I have learned in the year since I've really started following the blogs, podcasts, and forums. Another goal will be to continue being involved on the forums and not only asking questions, but providing my own insight, knowledge and motivation to all the others who are investors or just hoping to be investors.

BRING IT ON NEW YEAR!
1 Reply
Roy N.Pro Member
Rental Property Investor · Fredericton, New Brunswick · Member since 2013 · 7k+ posts · 4k+ votes
12y
Originally posted by @Karen Margrave:
Seems like we were just answering this question. Time flies.

Four goals:
1. Increase monthly revenue by >15K;
2. Add 20 residential units to our portfolio;
3. Acquire our first fully commercial (retail/warehouse/office) property;
4. Acquire our first property in the U.S.A.
Education about the U.S.A real estate game, financing, and regulation.
1 Reply
Karen MargraveBusiness Member
Moderator
OP
Realtor, General Contractor, and Developer · Redding, CA · Member since 2009 · 7k+ posts · 4k+ votes
12y
This thread is so motivational. We have such a wide swath of investors on BP, it just boggles the mind. Reading about the goals of others is inspirational, not only to me, but for everyone, including those new to the business.

Let's keep the thread moving, so that we can hear more stories of success. Feel free to invite colleagues with an @mention (I think there's a limit on how many you can do before it doesn't work)

@Dawn Anastasi

@Ali Boone

@Brandon Turner
1 Reply
Dennis Tierney
Investor · Omaha, NE · Member since 2011 · 475 posts · 211 votes
12y
I'm hoping to close on my second syndicated apartment purchase in Feb. Just found, however, the seller and his apartment LLC have been sued. The suit was filed a month before we signed the purchase agreement and of course they neglected to inform us so I have an inquiry to the agent to find out details and if it will impair his ability to convey title. I assume it does if not settled prior to closing.
1 Reply
Brian BurkePro Member
Investor · Santa Rosa, CA · Member since 2012 · 2k+ posts · 7k+ votes
12y
I'm happy to weigh in, @Karen Margrave !

1. Post to BP more often. If this thread is good enough for @Bill Gulley 's 13,000th post, it's certainly good enough for my measly 500th! My first 499 posts have helped a few people, expressed a few of my opinions, and developed relationships with other BP members that have become investors and friends. BP has certainly played a role in my business development and personal growth. I got really busy during the second half of this year so I've been a little absent, my goal for 2014 is to suck it up and get back to posting!

2. Flip 50 houses. I made the same goal for 2013 and almost hit it. I think I can do it this year because the market has cooled a little from where it was in the middle of 2013 (making it easier to buy). That said, I'd be happy with 30 or so but in any event it's a walk in the park compared to the insanity of doing 100+ for a few years. I actually got to take some vacations this year. :)

3. Begin a direct marketing campaign. My deal flow has always come from auctions and MLS, as those opportunities shrink I need to open up new avenues for opportunity. A few BP members have been a huge help, and I've learned a lot from them and their successes in direct marketing. Now I just have to figure out how to handle the incoming calls!

4. Buy 75 +/- more houses for my rental portfolio. I don't think that I could acquire more than that in my market in one year's time without compromising my standards, which I won't do. Once that is done I doubt I'll ever see market conditions in CA where buying a large portfolio of rental houses will make sense. Favorable price to rent ratios in CA are only around for a while, and in some parts of the state they are already gone. I could go to other states but right now I don't need to, there are opportunities in my own area still.

5. Acquire 2 to 4 multifamily properties over 50 units in size each. I'd rather they be 100+ units each, but if the right deal comes along size matters less. I'd like to do 10 of these but we are getting late in the cycle of multifamily in my opinion, so I'm being selective.

6. Raise $7 million +/- for my real estate funds. Hey, I have to pay for all of this stuff somehow and if I had the money to do all of this myself I wouldn't have to do it! LOL! I probably still would, though. I really do love what I do.

I hope all of my fellow BP members accomplish everything they set out to do in 2014, and more!
Podcast Guest on Show The Truth About Real Estate Investing in 2024 (What Investors NEED to Know)
3 Reply
Marco Santarelli
Specialist · Orange County, CA · Member since 2008 · 2k+ posts · 623 votes
12y
Great thread @Karen Margrave! (Motivational is right.)

There is a great body of people here on BP, so I plan to participate even further in the new year. Time can be such a juggling act at times.

I plan to review my 2014 goals next week, but BP will be part of that!

Merry Christmas everyone, and a prosperous and Happy New Year!
1 Reply
Justin B.
Lakewood, OH · Member since 2013 · 193 posts · 60 votes
12y
For the new year I would like to buy 3 more duplexes (40k each) that cashflow 650 a month, and add atleast one new duplex each year, while simultaneously expanding my insurance business 2-4 employees.
1 Reply
Will BarnardPro Member
Moderator
Developer · Santa Clarita, CA · Member since 2008 · 15k+ posts · 10k+ votes
12y
My goals for 2014 are to acquire a substantial amount of passive investments in both buy and hold ( apartments of 50+ units) and notes. I also hope to have some non RE related and RE related business investments to take off.
Podcast Guest on Show #130
1 Reply
Elizabeth Colegrove
Hanford, CA · Member since 2013 · 5k+ posts · 1k+ votes
12y
I hope to acquire 1 more property in SC and 2 in CA before May 2014. Since late spring, summer and early fall the market is crazy out here. I hope to save enough to buy 2 more houses late 2014 early 2015. BP has taught me so much about about everything.

I hope to use BP next year to find deals outside my current investment area.
2 Reply
Andy Robison
Investor · Kansas City, MO · Member since 2013 · 465 posts · 170 votes
12y
Goal number 1. Dont go bankrupt!

Goal Number 2. Add 3 new properties 1 MFH minimum
Goal Number 3. Pay off first mortgage by end of 2014
3 Reply
Jerry K.
Specialist · Phoenix, AZ · Member since 2011 · 698 posts · 629 votes
12y
@Karen Margrave Good topic and I too am putting the final touches on my REI goals for 2014.

More importantly, @Joshua D. my biggest benefit of being a BP member this past year was my opening an i401k account based on the information and feedback from Biggerpockets. I would not have known about an i401k without Biggerpockets.

This is a HUGE step for me and allows me to build passive, retirement income at a much faster rate than the limited mutual fund offerings from the original provider. By the time I actually retire, I should have an annual income stream in this one i401k that is more than double what my current salary pays.
2 Reply
Ali Boone
Real Estate Coach · Venice Beach, CA · Member since 2012 · 6k+ posts · 3k+ votes
12y
Thanks for the mention Karen!

My goal for 2014 is to keep building my business. I'm not buying investment properties right this second for myself because I've been in business-building mode (mostly to get capital to get back to buying with) and this past year was year one and BP by far was the biggest contributor to it's success! It was my first year really jumping into the REI world as far as networking and meeting other investors, and I couldn't have asked for a better jump into that world.

Thanks @Brandon Turner and @Joshua D.!

Oh, and of course my other 2014 goal is to keep busting out BP blog articles every week! :)
2 Reply
Dawn AnastasiPro Member
Rental Property Investor · Milwaukee, WI · Member since 2013 · 6k+ posts · 4k+ votes
12y
I'm likely going to close on a single-family in January, so my goal for 2014 is to buy at least 1 additional property.

More importantly, since I've gotten 10 rental properties, I'd like to start taking more time for myself -- more exercise, more fun with friends, etc. I've been pushing myself at such a pace that I've sort of distanced myself from going to social events -- working all the time.

There's one thing to be said for financial success but another for the time to enjoy the fruits of your labor.
Podcast Guest on Show #29
4 Reply
Joel OwensBusiness Member
Moderator
Real Estate Broker · Canton, GA · Member since 2010 · 15k+ posts · 11k+ votes
12y
I remember another post like this a few weeks back.

I used to work out at a gym but bought equipment in my master bedroom and jump on the recumbent bike an hour each day in the morning. I just do not have 3 hours to go to the gym and workout and then drive back etc. as half the day is gone.

I am aiming for 1,000,000 in commission next year. Not sales but commission. The next up to 4 to 5 years I believe commercial will transact at a fast clip while it recovers from the bottom of the cycle. I will make my own investments to keep taxes from Uncle Sam so they do not take it all every year. This way in 4 to 5 years if the transacting pace slows down the cash flow coming in will be substantial. Also want to drop 35 pounds this year to hit my ideal weight and under 10 percent body fat.
Podcast Guest on Show #47
NNN Invest53 Reviews
Website View Page
4 Reply

Join the conversationCreate a free account to reply, vote on answers and follow this thread.