There are just two months left in 2014, what will you accomplish?

94 Replies

The next few weeks look a little crazy, with 7 closings, mostly on the sell side.  I need to plan and start another buying campaign. Also need a shovel ready deal in Austin, ASAP,  to keep the crew busy.  Looking hard. 

What do plan to do by year end?

Jon:

Our goals are a little more modest in scale:

1) A complete gut rehab of a 1200 ft^2 unit; 

2) Negotiate a deal involving a lot containing a circa 1900 4-plex and an adjacent, land-locked lot of twice the size belonging to the local government; merge the two and have the resulting lot rezoned.

I love that kind of deal Roy, unlocking the value of a parcel by buying another. 

By the end of the year I will finish my live in flip and get it appraised and so I can free up cash by refi or heloc to reinvest in early 2015.  Got one master bath gut job, guest bath tile job, carpet in the master bath and closet, all new fence, and cabinets/counters/floors in the kitchen.  

Nothing too hard but it's a lot of hours to fit in two months for a newbie like me.  Good thing I love doing it!

Just closed on a duplex, which is rental property acquisition number five for this year. One side is vacant and the other side is rented. One of our goals is to finish the rehab on the vacant side by end of the year and try to get it rented for the new year. 

But our main goal for the remainder of the year is to improve our accounting and marketing systems. This is not necessarily the fun stuff, but it is absolutely critical for any growing business to be successful. This is our first year in the REI business, and our acquisitions outgrew our support systems this year. No major issues so far, but we want to be ready to grow in 2015.

@Jon Klaus  I wish I was at your level, but I am fairly busy.  I've got three rehabs I'm working on.  One is just getting finished, one just started, and another will be getting started in the next week or two.

I've also had several tenant move-outs, so I'm pretty busy right now.  

Things have been going in spurts for me the last year or so.  It's nothing.  I'd rather have things more evenly spaced out, but oh well.

Originally posted by @Larry T. :

@Jon Klaus I wish I was at your level, but I am fairly busy.  I've got three rehabs I'm working on.  One is just getting finished, one just started, and another will be getting started in the next week or two.

I've also had several tenant move-outs, so I'm pretty busy right now.  

Things have been going in spurts for me the last year or so.  It's nothing.  I'd rather have things more evenly spaced out, but oh well.

 Tenant move outs do you make you busy. I have one today, and I'm going now to check out the property, and ideally sell it. I'm not trying to do a lot of transactions it's just that a bunch are hitting right now. Ultimately, I'd like to get to the place where I do very few transactions, maybe just one or two a year, but that may be a good ways off.

Accomplished?  Taxes and Christmas shopping, gosh, I gotta get busy too! 

I'm looking to get started in Real Estate - Finish the BiggerPockets books, decide on a focus, attend my first REI club, and hopefully even begin working towards making my first few deals!

Even though I'm certainly new and have no money yet, I'm looking to go into commercial and make great things happen!

Originally posted by @Bill Gulley :

Accomplished?  Taxes and Christmas shopping, gosh, I gotta get busy too! 

 What about posting 700 times on BP, each post averaging 600 words? ; )

I'm with @Bill Gulley  , Jon.  Though, I do have a few things cooking:

1. There are always turn-overs.  They forgot to tell me that when you own lots of units, someone is always moving out.  Though, I don't have to set foot on the ground, seeing as my guys handle all of it.  But, I got kids so it's not like I do nothing all day...

2. Helping my wife to take a business idea off the ground.  Hope to have it launched, at least in part, within the next 2 months.

3. Working on a refi.  This one is big cause if I can do it, this'll cash out the only balloon I've got left in the portfolio.  I cashed one out a few months ago, and if this refi goes through I'm taking a vacation...

4. Analyzing a very big deal for syndication now.  This one is a slim chance because of all of the moving parts, but it's not totally out of the question...we'll see

5. Started working on a new book...

Finally, I haven't been able to learn how to relax yet.  Doubtful I can in the next 2 months, but I am trying :) 

  • Closing the short sale in Charleston
  • Launching 3 free ebooks on my website including self-managing from a distance
  • Making sure we have the down payment for our house in the Spring
  • Compiling all our tax and accounting records

Buy some land and build a SFH in a growing area.

Jon, I am pushing on Finishing my first to the studs renovation, getting the property sold and finding the next project.  And if at all possible escaping to the Mountains to take a quick breather with the family.

Cheers,

Darin

Originally posted by @Darin M. :

Jon, I am pushing on Finishing my first to the studs renovation, getting the property sold and finding the next project.  And if at all possible escaping to the Mountains to take a quick breather with the family.

Cheers,

Darin

 Rehab in Wimberly?  And the mountains sound great!  Where?

Finish a gut rehab job and get it rented. They are hanging drywall today, and we do a lot of the finish work ourselves, so it may be a bit ambitious. Oh, and if the natural gas people don't get the gas run to that house very soon I may commit a violent crime! ;-)

The rest of the year will be pretty slow.  Just listed a spec for sale yesterday so hope to get that under contract before year end.  Will start another one in the next couple of weeks and then it's mostly just hunting for deals for the rest of the year.

I've got a flip that i've had a verbal contract on for the past 18 months that the sellers are saying the might be ready to close in December, but i'm not holding my breath.

Originally posted by @Jon Klaus :
Originally posted by @Bill G.:

Accomplished?  Taxes and Christmas shopping, gosh, I gotta get busy too! 

 What about posting 700 times on BP, each post averaging 600 words? ; )

Jon, I do have other things to do besides BP, like the implementation of strategic planning to combat Ebola, assist the Kurds with tactical support against ISIL, advise NASA on how, at this point, to resupply the Space Station, all while I'm writing RE and note investing books to practically give away, then making sure my accountant gets all the information he needs and, to top it off, get ready for Christmas.......well, there's only so much I can accomplish, man, even for me! Considering all the interruptions from super models and beauty queens from the 60's calling me to go out, I don't know if I can post 600 more times before the ball drops!

As to the word count, please notice those are usually in the very early hours, 2 to 4 AM during my REM sleep periods, when I go into my RFM (rapid finger movement) sleep patterns I post more  Plans are, to stay out later that should cause these sleep patterns to change a bit, so, all things considered, my word count should drop proportionately to the winter solar cycles, dating patterns and time changes. We'll see. :)        

We're framing the spec house in San Clemente, and will have it completed in late winter, early spring. Currently submitting for grading permits on another spec we're building in Capistrano Beach, and getting finals plans ready to be submitted by the end of the year for the two condos in San Clemente. Then.. we'll be building them and while we're on the Capistrano Beach project, be looking for the next up. 

@Jon Klaus Great question. I have a buy & hold SFH closing at the end of November. But I hope to have another under contract by Christmas. Just getting a jump start on my 2015 goal. =)

Just starting out but I've got one deal under contract now that should close in the next 2 weeks and two more I've put offers in on this week. Continuing my direct-mail campaign with rounds 2 and 3. My goal is to close at least 2 deals by the end of the year to get momentum going for 2015.

Originally posted by @Jon Klaus :
Originally posted by @Bill G.:

Accomplished?  Taxes and Christmas shopping, gosh, I gotta get busy too! 

 What about posting 700 times on BP, each post averaging 600 words? ; )

 Jon, your missing a zero there ... that's 6000 words ;-)

I'm hoping to get my remote flip that was supposed to take 30 days to rehab (its now been 60 and we aren't even close) finished and sold. At this point I guess just finished would be great. Time is certainly flying by!

One closing

One gut job (at another location)

One contract for deed deal to be signed

  • closing on this one most likely wont make it in 2014

I look to begin my real estate investing career and close a deal on my first income property before the end of the year. I'm from Canada so I'm spending two months in Cleveland starting Mid November to find and close on the home.

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