There are two months left in 2015, what will you accomplish?

Developer · Garland, TX · Member since 2008 · 8k+ posts · 4k+ votes

We have just two months left this year. What will you get done? Put it out there and we can help hold one another accountable.

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Chelsea Ziss

Investor · Maumee, OH · Member since 2015 · 48 posts · 23 votes

11y

Honestly, if I get halfway through rehabbing the rental we just purchased, I'll be pretty happy. Sometimes it can be intimidating to read about everyone else's crazy successes when you're just starting out!

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Sal Zafar
Investor - buy and hold. · Cedar Park, TEXAS (TX) · Member since 2015 · 95 posts · 7 votes
10y
Mine looks nothing, in front of Pro's here :)
- Purchased two properties, but tenants on them.
- Get HELOC on one. Preparing for next year.
- Build-up/structure real estate company
- Small modification on 3rd property in Dec. (to increase the value).
- Aligning myself for whole sale buy and hold next year.
- Lost at least 25 offers and ~30 properties on bids. :(
* Need assistance in whole sale. Will definitely do buy and hold starting next year.
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Manuel Gonzalez
Lake Jackson, TX · Member since 2013 · 119 posts · 34 votes
10y
Finish up rehab on 4 plex i purchased 3 months ago and get them rented. Im gona self manage these try to target out of town contruction workers. All bills paid partially furnished on month to month lease. Lets see how that works.
Finish new contruction build and get moved in (primary residence ) finishing floors this weekend!
Minor cosmetic rehab on house im living in now and get it in the market. I thought about keeping it as another rental but i decided on selling instead it will be my first time i sell a house.
Maybe start rehab on 5 plex i bought 3 months ago that came in a package with 4 plex all depending if i sell house fast.
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Dakota James
Real Estate Broker · Indianapolis, IN · Member since 2015 · 3 posts · 1 vote
10y
My goal is to execute my first wholesale transaction before 2016 begins!
0 Reply
Jon Klaus
OP
Developer · Garland, TX · Member since 2008 · 8k+ posts · 4k+ votes
10y
Originally posted by @Account Closed:

Wow, some of you are impressive. You guys make me look like a lazy bump.
1) Refinance 2 properties now.
2) Negotiating to purchase a 7-unit building. Hope to get in contract soon.
3) Putting a duplex up for sale next week.
4) Grand open a new franchise biz in Dec.
5) Currently in contract to purchase a franchise. Close by mid Dec.
What kind of franchise, Minh?
1 Reply
Jon Klaus
OP
Developer · Garland, TX · Member since 2008 · 8k+ posts · 4k+ votes
10y
Originally posted by @David Dey:

Actually, I started ramping up my marketing and making deals in October but will continue to ramp up through November and December.
I have found over the last 10-12 years of my career that the holiday season always ends up being my strongest months, simply because of a lack of competition. While most others (present company excluded) are taking the season off, people still are having problems and needing solutions.
Now, I don't become Ebenezer Scrooge and not celebrate the holidays. I just don't forget that I have a business to run. And you know what? I may just be someone's Christmas miracle!!
David, do you have a particular marketing message going into year end?
0 Reply
Jon Klaus
OP
Developer · Garland, TX · Member since 2008 · 8k+ posts · 4k+ votes
10y
Originally posted by @Ingrid J.:

@Jon Klaus Great topic. Thanks for giving me a push!
I will have completed my saving up $12 500 k for my first real estate deal and incorporated my first LLC.
The latter is already complete. To top it off I hearby challange myself to have my website up and running 01.01.2016.
Ingrid, where will you buy your first investment property? What type property?
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Jon Klaus
OP
Developer · Garland, TX · Member since 2008 · 8k+ posts · 4k+ votes
10y
Originally posted by @Rocky V.:
1. Complete Haltom City, Tx rehab and sell property by end of year
2. Install new aerobic system on Mobile Home with 1.7 acres in Alvarado, Tx and list home for sale/rent/owner finance
3. List Mobile Home in Lillian, Tx for sale with owner finance
4. Close on Arlington, Tx property by mid-November. Rehab and sell by end of year.
5. Find 1 more property by end of year to buy/rehab/sell
6. TAKE NUMEROUS VACATIONS AND SPEND QUALITY TIME WITH FAMILY/FRIENDS
Unfortunately, I might also have to replace a septic system by year end, but my goal is to avoid it. Another goal : )
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Jon Klaus
OP
Developer · Garland, TX · Member since 2008 · 8k+ posts · 4k+ votes
10y
Originally posted by @Annette A.:
wow i read alot of the above lists. lots going on. I am a young newby in the field.
Personally i
--hope to acquire a pc of land I have had my eye on for many years
--start a new business ( well make it official and inc. it into a LLC and increase prsence so i can have more working funds)
--start on my development of the short-term cabin housing ; talk to code enforcer, call a tree harvester, soil test, cut in a road
that's my list and I'm sticking to it. It really seems small to all that some of you are doing, but i know many of you have many years under your belt. the BEST to you all with the rest of this year.
What do you like about the land you've had your eye on for years? What do you plan to do with it? I've stepped out of my way and investing lately, myself. Mostly, I look for undervalued properties and ones that I can quickly add value to.
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Jon Klaus
OP
Developer · Garland, TX · Member since 2008 · 8k+ posts · 4k+ votes
10y
Originally posted by @Kevin Wells:

Meeting tomorrow to start the purchase process for my first investment property. In December going to start refinance on my personal residence also.
Congrats on getting started, Kevin!
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Jon Klaus
OP
Developer · Garland, TX · Member since 2008 · 8k+ posts · 4k+ votes
10y
Originally posted by @Teresa F.:

Hmmm, my list is a bit different. But here goes . . .
1. Go to Malta.
2. Go to Bali.
3. Finish bathroom rehab for holiday guests in my home.
4. Ensure smooth closings for two clients.
5. Get statements to book keeper for end of year.
6. Go to China (it would be quick trip so this is a maybe)
7. Write additional content for website.
8. Look for rehab for flip.
9. Spend holidays with family.
That's some serious island hopping, Teresa. Post pics!
0 Reply
Dmitri L.
Investor · DFW, TX · Member since 2013 · 319 posts · 101 votes
10y
Close on an apartment building in Japan by fiscal year end (which is actually April 2016).
1 Reply
Jon Klaus
OP
Developer · Garland, TX · Member since 2008 · 8k+ posts · 4k+ votes
10y
Originally posted by @Dmitri L.:

Close on an apartment building in Japan by fiscal year end (which is actually April 2016).
That's great, Dmitri. Are you under contract?
1 Reply
Teresa F.
Residential Real Estate Broker · Clinton, MD · Member since 2008 · 297 posts · 178 votes
10y
@Jon Klaus Hubby is the photographer but I'll see what I can do. Haven't been to Malta or Bali so I am really looking forward to it! Teresa
1 Reply
Jon Klaus
OP
Developer · Garland, TX · Member since 2008 · 8k+ posts · 4k+ votes
10y
Originally posted by @Chelsea Ziss:

Honestly, if I get halfway through rehabbing the rental we just purchased, I'll be pretty happy. Sometimes it can be intimidating to read about everyone else's crazy successes when you're just starting out!
When I joined BP 7 years ago, my main goal was to learn. Always a good goal. Just keep moving forward!
0 Reply
Jon Klaus
OP
Developer · Garland, TX · Member since 2008 · 8k+ posts · 4k+ votes
10y
Originally posted by @Roy N.:

@Jon Klaus
With no signs of anything worth buying on my immediate horizon, we will continue along with our list of small projects which have been deferred over the past couple of years due to more "immediate needs" - like replacing the aging sewer main in our 6-unit and removing the final bunch of trees damaged in our summer of 2014 hurricane {we felled eight last week}.
We've also been strengthening our balance sheet this year - portfolio LTV fell below 60% in the spring and should be right around 55% at year's end - and pre-arranging access to that equity in the event we do find a 20 - 50 unit building meeting our criteria.
Almost forgot ... have a 2nd coming due at the end of the year. Mortgager is planning to pay-off this month (November), and wants place another 2nd in January for a new rehab ... so the latter part of December will be spent doing diligence to underwrite another loan.
Building balance sheet might not be as flashy as building income, but it is the foundation needed for the next set of opportunitities. Preparation is power!
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Jon Klaus
OP
Developer · Garland, TX · Member since 2008 · 8k+ posts · 4k+ votes
10y
Originally posted by @Glenn McCrorey:

Before the Romans added July and August (think Julius Ceasar and Augustus) there were only ten months in the year so I'm already done..... lol I retired last Dec., my wife is going part time as a realtor on Dec. 1 and we are headed to Ft. Myers for the winter as planned (12 years ago). Bought 6 houses this year with about 50K out of pocket total. Life is good, thank you REI for making it possible. PS heard my old boss that layed me off might be retiring soon.... good for him.
Since you retired less than a year ago, you bought 6 more houses? Sounds like an active retirement!
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Cedric Stout
Investor · Palisades Park, NJ · Member since 2015 · 165 posts · 29 votes
10y
Hi Jon,
What a great thought provoking post. I'll keep mine very simple, yet challenging.
- By the end of 2016, I will have completed my first wholesale deal (along with my business partner). I would like to shoot of 3. (A lot can happen in 2 months, right?)
- Have a solidified wholesaling business brand in Northern & Central NJ
- Have marketing and CRM systems in place to continue managing deals, prospective buyers, and sellers.
- Be one of the most professional wholesalers in the game.
There you have it. I think this is a great place for me to start.
2 Reply
David Dey
Investor · Lakeland, FL · Member since 2015 · 344 posts · 606 votes
10y
Originally posted by @Jon Klaus:

Originally posted by @David Dey:
Actually, I started ramping up my marketing and making deals in October but will continue to ramp up through November and December.
I have found over the last 10-12 years of my career that the holiday season always ends up being my strongest months, simply because of a lack of competition. While most others (present company excluded) are taking the season off, people still are having problems and needing solutions.
Now, I don't become Ebenezer Scrooge and not celebrate the holidays. I just don't forget that I have a business to run. And you know what? I may just be someone's Christmas miracle!!
David, do you have a particular marketing message going into year end?
Actually, I plan to mainly do my outbound call group, however you did give me an idea for a marketing campaign we did years ago. (Might be time for someone to bring it back)
Holiday cards!! For a 100% open campaign, who doesn't open an obvious greeting card? You know, with the colorful envelope and maybe Snoopy on the outside?
The message inside will be important as well.
Like maybe, "Turn that vacant house into Holiday cash!!"
What do you think?
Hope it helps someone.
1 Reply
Annette A.
Waterville, ME · Member since 2015 · 269 posts · 53 votes
10y
@Jon Klaus I wanted it for personal reasons of building a homestead. But also for its value beyond what they are asking for it. It has 6 bdrooms, summer kitchen, winter kitchen... I guess what i like about it; i see a great business there; and it is really low priced.
a min amount of work and it will more then double the value. Where can you buy a 6 bdrm house? ! I have first dibs she told me- I only need a mortgage for about $135,000. It has 90+/- acres. Its an historic 200 yr old brick house which is gravity spring fed. There is an old apple orchard that could be cared for... i could expand it to house a green organic, Maine made local products- i could rent out rooms to different vendors? have a green organic cafe' . I could add some cabins on back 40 for seasonal rent. There is so many possiblities.
oopps there i go on dreaming, something i like to do. I see something and i can see its possility. :D
I shall buy this property- when she is ready to let go. She likes the idea of us buying it, then she can still have some kind of connection to it. Its been in her husbands family for 3 generations and then one other family before them whom built it brick by brick. :D
1 Reply
Jon Klaus
OP
Developer · Garland, TX · Member since 2008 · 8k+ posts · 4k+ votes
10y
Originally posted by @David Dey:

Originally posted by @Jon Klaus:
Originally posted by @David Dey:

Actually, I started ramping up my marketing and making deals in October but will continue to ramp up through November and December.
I have found over the last 10-12 years of my career that the holiday season always ends up being my strongest months, simply because of a lack of competition. While most others (present company excluded) are taking the season off, people still are having problems and needing solutions.
Now, I don't become Ebenezer Scrooge and not celebrate the holidays. I just don't forget that I have a business to run. And you know what? I may just be someone's Christmas miracle!!
David, do you have a particular marketing message going into year end?
Actually, I plan to mainly do my outbound call group, however you did give me an idea for a marketing campaign we did years ago. (Might be time for someone to bring it back)
Holiday cards!! For a 100% open campaign, who doesn't open an obvious greeting card? You know, with the colorful envelope and maybe Snoopy on the outside?
The message inside will be important as well.
Like maybe, "Turn that vacant house into Holiday cash!!"
What do you think?
Hope it helps someone.
I agree, the holiday card will get opened, but will they be upset when they see it's a solicitation? Same as a yellow letter I guess, but more so? Still the open rate... Let us know how it goes.
My IT services company is about to send out Thanksgivings cards instead of Christmas, to say thanks, and to not get lost in the pile of other December cards.
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Chris E.
Investor · FL · Member since 2015 · 202 posts · 34 votes
10y
1) Sell our rental condo to a retail buyer and 1031 into multiple properties outside of California.
2) Finish my 7 year plan to retirement and start executing (starting with step 1 above).
0 Reply
Ashley Wolfe
Realtor · Bedford, TX · Member since 2015 · 172 posts · 55 votes
10y
Originally posted by @Clayton P.:

I gotta say I would sell everything I had & never buy another rental if it meant I could hop into self storage as a result.
Tell me a bit more about what you've learned about SS as a form of passive income.
0 Reply
Rod HanksBusiness Member
Insurance Agent · Dallas, TX · Member since 2013 · 743 posts · 462 votes
10y
1. Setup line of credit with my local bank
2. Finish and rent other side of duplex bought last week
3. Buy and rent another small multi family
4. wholetail 1 SFR from letter campaign
5. Complete 2016 business planning for real estate and insurance businesses
6. Complete tax planning for 2015 by 12/31/15
Rod Hanks Insurance4.9158 Reviews
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Sharee Mason
Realtor · Summerville, SC · Member since 2015 · 60 posts · 16 votes
10y
My goal is to sell our house in Milford, Delaware. It goes live on MLS tomorrow, so wish us luck! This is the first property we have ever owned and our first sale, so a big learning experience for us.
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James MasottiPro Member
Rental Property Investor · Washington Township, NJ · Member since 2015 · 1k+ posts · 976 votes
10y
Originally posted by @Jon Klaus:

We have just two months left this year. What will you get done? Put it out there and we can help hold one another accountable.
Mine is simple - Start direct mail campaign.
I've been tracking the MLS since August...and there just isn't anything there for what I'm looking to do in my area (that I've seen so far). Need to go off market and hope for better success there.
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