Goals for 2015

Goals, Business Plans & Entities
11yFollow

Goals for 2015

Account Closed
Landlord/Mentor · Baltimore, MD · Member since 2011 · 96 posts · 97 votes

I would love to hear what goals people are setting for 2014.

Personally, I am going to-

-hire an assistant to help with my wholesaling and tenant placement business

-do a 1031 exchange with a property that a biz partner and I acquired this year through a wholesale deal

-streamline more of my rental business so that it requires less of me!

As far as personal goals go- exercise and lose 30 pounds! Ugh.

I'd love to hear your goals.

Mark

1Reply
53 views

Most Popular Reply

Mark Freeman
Real Estate Investor · Clovis, CA · Member since 2014 · 195 posts · 194 votes
11y

-Make $300k profit on 3 to 8 flips in my local market. 

-Surround myself with buy and hold investors, and get back into buying for cash flow and appreciation.

-Finish my profile and upload a picture so I don't look like a FBI agent anymore on B.P.

4Reply
See this reply in the discussion

35 Replies

Jump to latestLatest
  • Elizabeth Colegrove
    Hanford, CA · Member since 2013 · 5k+ posts · 1k+ votes
    11y

    *Acquire 4 more buy and hold properties reaching a total of 9 buy and holds

    *Make continuing to work on my website, contribute to Biggerpockets blog, and participate on this forums a high priority :)

    *Start evaluating what direction I want to go once we max out traditional 30 year loans.

    1Reply
  • Luca Gobbini
    Investor · Nixa, MO · Member since 2014 · 21 posts · 11 votes
    11y

    buy my second buy and hold and possibly the third one as well.

    1Reply
  • David McEwan
    Real Estate Investor · Fort Lauderdale, FL · Member since 2014 · 40 posts · 8 votes
    11y

    Buy my 1st buy and hold REI.

    3Reply
  • Anna Watkins
    Investor · Atlanta, GA · Member since 2014 · 389 posts · 250 votes
    11y

    I have a few goals for 2015, all fairly small and I hope achievable. 1) buy a property in Tennessee that I want for retirement (this is very specific, with an identified neglected property, an absentee owner and several years of unpaid taxes); 2) separate my business money from my personal money, at least with different bank accounts for rental properties, and at most by setting up an LLC for the rental business; 3) buy one more rental property in my chosen area, the Belvedere Park area of DeKalb County (Metro Atlanta), ideally from a wholesaler at less than MLS retail; and 4) invest $15/20K in another real estate deal in metro Atlanta, either as a hard money lender or a partner, perhaps in Atlanta's West End (lookin' at you, Rick Baggenstoss!)

    2Reply
  • Ron Collins
    Investor · New Orleans, LA · Member since 2014 · 73 posts · 29 votes
    11y

    I have one immediate goal for 2015: quiet the titles on two properties I bought on tax sale. The certificates mature this month.

    1Reply
  • Jeremy Tillotson
    Investor · Fort Wayne, IN · Member since 2014 · 1k+ posts · 515 votes
    11y

    @Ron Collins we have used this to save time before. Alot faster than quiet title.

    http://taxtitleservices.com/

    0Reply
  • Mark Freeman
    Real Estate Investor · Clovis, CA · Member since 2014 · 195 posts · 194 votes
    11y

    -Make $300k profit on 3 to 8 flips in my local market. 

    -Surround myself with buy and hold investors, and get back into buying for cash flow and appreciation.

    -Finish my profile and upload a picture so I don't look like a FBI agent anymore on B.P.

    4Reply
  • Michael Graham
    Real Estate Investor · Newark, DE · Member since 2014 · 20 posts · 4 votes
    11y

    Purchase a few (2-4) buy and holds and wholesale as many deals as possible. I'd also like to buy and flip several properties in 2015. 

    2Reply
  • Matt Welch
    Flipper/Rehabber · San Diego, CA · Member since 2010 · 76 posts · 21 votes
    11y

    40 + flips and buy 2 buy and hold properties.

    2Reply
  • Ricardo S.
    Flipper/Rehabber · Atlanta, GA · Member since 2014 · 166 posts · 88 votes
    11y

    Damn everyones buying properties! Where do you get the money?? sheesh lol

    My goal is to pay off my credit cards so I can rebuild my credit to then purchase my first buy and hold.

    3Reply
  • Patrick Britton
    Ann Arbor, MI · Member since 2014 · 1k+ posts · 997 votes
    11y
    • wholesale at least 12 properties by the end of the year
    • outsource all marketing
    • develop list of solid cash buyers
    • better systematize property analysis
    1Reply
  • Randon B.
    Appraiser · Austin, TX · Member since 2014 · 162 posts · 19 votes
    11y

    2015 is going to be a crazy new year for me, I am literally starting a new company the beginning of January that is in the real estate field, I'll be living in a new home that we closed on in November, that is on a new side of the city. So just overall my life will be changing, and I AM EXCITED. I know everything is for the best and will work in my favor. 

    My goals are to just kill it with the new job, get my duplex all renovated. 

    I would like to buy another duplex by the end of the year.

    1Reply
  • Steve Vaughan
    Rental Property Investor · East Wenatchee, WA · Member since 2014 · 10k+ posts · 16k+ votes
    11y

    Pay down another $123k of my real estate debt and keep feeling the peace!

    1Reply
  • Tom Lane
    Real Estate Investor · Milledgeville, IL · Member since 2014 · 46 posts · 24 votes
    11y

    My goal for 2015 is four flips and two additional investors.

    2Reply
  • John HornerPro Member
    Flipper/Rehabber · Columbus, OH · Member since 2013 · 1k+ posts · 655 votes
    11y

    40 deals

    8 fix and flips 

    30 wholesales 

    2 seller finance rentals to hold 

    0Reply
  • Alex M.
    Investor · Philadelphia, PA · Member since 2013 · 185 posts · 97 votes
    11y
    1. #1. Rent out my first investment property which I am in the middle of rehabbing right now
    2. #2. Purchase 4 more buy and holds consisting of at least one multi and three SFRs or small multis.
    3. #3. Improve my understanding of real estate financing and learn to cash-out-refi so that I can keep plowing money into new investments.
    4. #4. Get my first wholesale deal under my belt.
    5. #5. Gear up for 2016 - plan is 12 buy and holds in 2016
    1Reply
  • Stanley E.
    Rental Property Investor · North Little Rock, AR · Member since 2014 · 148 posts · 43 votes
    11y
    1. Get an accountant 2. Get a renter for my first RE investment 3. Pay taxes on time 4. Purchase second buy and hold 5. Rent second buy and hold 6. Refrain from buying myself anything new this year
    1Reply
  • John Hixon
    Investor · The Colony, TX · Member since 2013 · 283 posts · 205 votes
    11y

    1. Purchase 4 fix and flips.

    2. Add 5 more rentals.

    3. Acquire first property using creative financing.

    4. Expand my network.

    0Reply
  • Dawn AnastasiPro Member
    Rental Property Investor · Milwaukee, WI · Member since 2013 · 6k+ posts · 4k+ votes
    11y

    For me:

    1. Have my tenants pay down my mortgages via their rent payments

    2. Probably sell a couple of my houses

    3. Possibly buy more properties (maybe 2 at the most)

    4. Continue to help my out of state investor partners become rich slowly

    At this stage, I'm very happy with where I'm at and just want to improve what I have.  It will be interesting to come back to this thread at the end of 2015 and compare where I think I will be to where I actually am.

    Podcast Guest on Show #29
    0Reply
  • Account Closed
    OP
    Landlord/Mentor · Baltimore, MD · Member since 2011 · 96 posts · 97 votes
    11y

    Thanks to everyone that responded to my post.  From what I understand, those of us that put our goals in writing are more likely to reach them! I wish you all a safe, happy, and prosperous 2015.

    1Reply
  • Ramon Fyffe
    Engineer · Chicago, IL · Member since 2012 · 183 posts · 22 votes
    11y
    1. Buy a Duplex $60-70k 2. Continue to profit from my current SFR 3. Pay off car and credit card debt
    0Reply
  • Leo A.
    Rental Property Investor · Ventura, CA · Member since 2014 · 50 posts · 5 votes
    11y

    1. Purchase 2 additional buy and hold property(total of 3 rentals).

    2. Find a CPA and RE Attorney to help me out/grow my business.

    3. Network with other Investors.

    4. To get better on analyzing deals.

    5. To find a local mentor.

    0Reply
  • Joshua D.
    Investor · Columbus, MT · Member since 2013 · 1k+ posts · 1k+ votes
    11y

    I wrote this a few weeks ago and have got about 5 or so of the things done, kida fun knocking stuff off your 2015 list before it even starts.  

    2015 goals

    Have $5000 in rental account emergency fund

    - don't spent rental cashflow

    Have $10,000 in emergency fund

    - emergency fund is top priority

    - all extra income goes to these funds till met

    Save $10,000 toward next REI purchase

    - save all income

    Refinance brick house (cash out)

    - outdoor windows sealed

    - siding on shed

    - railing on steps

    - trim widows

    - tile work in bathroom.

    - doors hung

    - gutters and facia

    Build living area in basement

    - stud walls

    - electrical

    - plumbing

    - insulate

    - drywall

    - paint

    - carpet

    Redo outside of brick house?

    - stucco

    - paint

    Re side back of pink mobile.

    - hire?

    - find siding

    Develop myself as a great landlord

    - hold great tenants

    - create an atmosphere of honesty and trust

    - gift cards

    - meet monthly at least with landlord

    - systematize expenses on spreadsheet

    - receipt system

    Identify 3 solid business niches and write out how you would make it work.

    - read 10 business books

    - meet monthly with a businessman

    Hunt down off market deals in columbus and other areas to wholesale/ bird dog.

    - send 25 yellow letters

    - drive/ phone calls

    - billings wholesalers?

    Buy 1 vacant lot in R-3 zoning in columbus, billings, or surrounding areas.

    - save money, with side jobs (mowing, snow shoveling, other)

    - use wholesale money?

    - buy owner financing?

    Travel to Ohio as a research opportunity to Toledo Ohio real estate

    - Ohio cashflow

    - BP members

    - property management

    - look at houses

    - 

    0Reply
  • Mitch Coluzzi
    Investor · Des Moines, IA · Member since 2014 · 238 posts · 230 votes
    11y

    I set a series of goals back in October for the next few years and published them in my profile.  I have been and will continue updating monthly. Find that it helps me stay accountable (in a small way).  Moreover, it's nice to publicly check them off!

    What I have learned so far... once you put your goals in writing, they are a lot easier to achieve!

    Public Goals:
    Establish Iowa brokerage by Dec 2014.                         [Complete]
    Launch user-friendly website by March 2015.               [In-Progress]
    Automate tenant application process by June 2015.    [In-Progress]
    Complete 10 new flip projects by end of 2015.            [02/10 Acquired]
    Acquire 50 new rental units by end of 2016.                [34/50 Acquired]

    Last Updated Dec 28 2014

    1Reply
  • Jay HinrichsBusiness Member
    Real Estate Consultant · Summerlin, NV · Member since 2014 · 45k+ posts · 66k+ votes
    11y

    @Account Closed 

      Identify 3 to 5 really good fix and flippers or wholesalers to add to my stable of clients that I fund and help them make the money they hoped to make when they got into the business but were capital constrained.. this will be the first time I have gone out of my personal investor base to bring on new clients in many years.. so I will be diligent and careful. But with proper backing I am certain BP will bring me those few that will want to succeed beyond their wildest dreams in 2015 and will appreciate a capital partner that can make that happen for them.. Without them having to make 57 applications for hard money loans that never come through  LOL

    Podcast Guest on Show #222
    JLH Capital Partners51 Review
    WebsiteView Page
    1Reply
Join the conversationCreate a free account to reply, vote on answers and follow this thread.
Log InJoin for Free