Certified Public Accountant · Chattanooga, TN · Member since 2008 · 279 posts · 151 votes
16y
How'd did everyone do on their 2009 goals? Here were my goals.
1. Keep my units fully occupied with good tenants.
2, Run my current properties efficiently and keep them in good condition.
3. Pay down as much on my mortgages and LOCs as possible. I would like to get at least one property paid off in the next couple years.
Results
Goal 1: This goal was pretty poor until May. I had one unit sit open for 5 months. After that, they were almost totally full. However, I had to drop rents this year due to the economy. Need to do better next year.
Goal 2: I think I did pretty good here. I do most of the maintenance myself and I did a few fixer upper projects.
Goal 3: I made some progress on my R/E debt. I was able to pay off about $20k on my properties/lines.
I'm disappointed in goal #1 for 2009. I want to really work on goal #3 and try to pay down about $50K in 2010 on my properties.
Lincoln, NE · Member since 2008 · 249 posts · 46 votes
17y
My goals for 2009 are:
* purchase 7 more properties for my rental business.
* Try to re-hab and sell (maybe on a lease to own system) at least 1 house.
*Go on vacation to my home country of PARAGUAY !!!
Real Estate Investor · Calgary · Member since 2008 · 92 posts · 3 votes
17y
- Book a trip to a cashflowing area
- Research these areas HEAVILY
-Build a Team to interview (at least one fall back for each member)
- Dedicate 7-10 days to drive around, meet people and look at property and surrounding areas.
Real Estate Investor · Castle Rock / Ft. Carson, CO · Member since 2008 · 111 posts · 9 votes
17y
One of my goals just got completed hours ago. I created Rockview Properties, L.L.C. based out of Castle Rock, Colorado! The rest of 2009 will be to age the company while I am in Afghanistan so that when I get back, I will be able to hit the ground running and purchase my first property(ies)! Happy New Year!!!!!
My goal: to complete at least one real estate deal.
It has been TWO years now, still on the fence, and my butt is killing me. My first actionable steps..well two of them, is to contact and meet a mortgage broker, and a real estate agent specializing in investment properties this week.
Los Angeles, CA · Member since 2008 · 557 posts · 70 votes
17y
* To purchase at least seven rental properties that meet the fifty percent rule. At least five must cash flow well, and two can be break even speculation plays in great neighborhoods for future appreciation
* To generate 1000.00 per month cash flow from said properties after operating expenses.
* To move my HELOC into investments fast before it is closed. In this market I have a feeling it will be gone soon. Surprised it's still here. Looking to do this by Mar.
Certified Public Accountant · Chattanooga, TN · Member since 2008 · 279 posts · 151 votes
17y
I am going to keep my goals conservative this year:
1. Keep my units fully occupied with good tenants.
2, Run my current properties efficiently and keep them in good condition.
3. Pay down as much on my mortgages and LOCs as possible. I would like to get at least one property paid off in the next couple years.
Multifamily Investor · Toledo, OH · Member since 2008 · 296 posts · 308 votes
17y
1. Double my volume of fix-and-flips. I did 9 in 2008...looking to do 20 in 2009.
2. Get rid of all of my slow-paying tenants and re-rent to better-screened, paying tenants.
3. Eliminate the need for hard moneylenders. Stretch goal is to eliminate need for private money also and just self-fund. That would require that I triple my 2008 fix-and-flip volume.
4. Have at least 2 of every kind of vendor- plumbers, HVAC, GC, mortgage lender (to finance retail buyers), handyman, etc. I'm sick of relying on 1 guy for each item...puts me at their mercy.
Real Estate Investor · Champaign, IL · Member since 2009 · 28 posts · 6 votes
17y
Since I just started out with investing and just closing on my first property on the 2nd of january Im going to keep my goals small so that I can get a feel for real estate investing.
My goals are to:
1. Keep the property rented
2. Purchase at lease 1 more property during 2009
Real Estate Investor · OH · Member since 2008 · 4k+ posts · 1k+ votes
17y
My goal for 2009 is simply to stabilize my rental business. During 2008, I finally finished churning the inherited tenants that I had (evicting the ones that were unacceptable) and finding appropriate tenants for those units. Now, I just need to finish a few initial rehabs (like finish painting the Pink Elephant) and rehabbing a unit that I've been using for storage in preparation for a tenant.
Residential Lender · Littleton, CO · Member since 2008 · 128 posts · 16 votes
17y
I have several goal throughout the upcoming year. The biggest one though is to do my first "fix and flip". I need this for the cash it will generate. Almost more important than the profits is the credibility. I'm a real estate agent as well and I want to practice what I preach.
Real Estate Investor · StL, MO · Member since 2008 · 296 posts · 152 votes
17y
1. Get my first property rented-should be any day now so it's not much of a 'goal' but a start to the process
2. Buy more properties. I know it's better to have a specific goal/number but I think it would be better to focus on making quality investments instead of quantity. I could buy 5-7 more properties right now but it's only Jan and I have 11 more months to look so I'm going to be picky. I guess to be specific, at least 1 more property in 2009.