At the beginning of January, the one and only Brian Burke started a thread titled "It's 2018. Whatcha gonna do about it?"
In an effort to keep myself accountable to the goals I set in Brian's thread, at the beginning of each month, I am going to start a thread recapping my month with the purpose of reviewing:
- What are my goals I set, and have any of them changed?
- What I accomplished in the previous month to help me achieve my goals.
- Where I fell short of my goals last month.
- What I plan to tactically do this month to drive towards my goals.
I invite others to join me in posting each month as a way for us to hold ourselves accountable and to also know that others will see what we have achieved, where we have fallen short, and what we plan to do going forward. Maybe we'll get a small group of regular posters month-to-month, who knows.
First, a recap of my goals: 1) get a few deals (at least 3) under my belt to build credibility and experience and 2) get plugged into my local RE community in Atlanta.
So far, these have not changed. I may expand on them in the coming months. But be it a buy-and-hold or a flip, I am considering a deal a deal for now.
Second, what I accomplished:
- Drove around 3 separate weekends during late December and January to better understand some specific parts of the city, which has helped me hone in on several target sub-markets within Atlanta , Georgia.
- Met with my real estate agent to gather additional information on different markets and inform him of my plans.
- Found 2 parties who are interested in partnering on flip opportunities if we find a deal which makes sense.
- "Analyzed" at least 40 deals, which is on track for my 10 deals/week. I use the term "analyze" roughly because sometimes it's a quick 1-2 minute analysis when I realize it does not make sense.
- Posted regularly on the BP forums and listened to 5-10 podcast episodes to get connected with others in the community and learn more.
- Do a good job at my day job, which will hopefully lead to a higher performance bonus (i.e. investment money...and maybe a new wakeboard, we'll see).
- I also broadened my perspective for deals. Long term, I want to do more buy-and-hold, so I was not initially interested in flipping. However, after doing more research on different parts of Atlanta, I see flipping as a viable way for me to build some capital (cur
Third, where I fell short:
- I was not able to attend the Atlanta BP meetup event or another REIA this month because I was out of town for work. Out of my control, but I still fell short.
- I set the goal to identify an online course to get my RE license by the end of January. I have not selected a program yet. I am still on track long-term as long as I begin the program in February, but my goal is slightly more at risk.
Fourth, goals for February:
- Analyze 10 deals/week and physically visit an average of 2 deals/week, with the hope of making an offer on at least one property. I won't make an offer on a bad deal, but I hope that I can find something worth offering this month.
- Identify and purchase an online RE license course, and begin the program.
- Attend the BP Atlanta meetup event and at least one other REIA event, as long as I am in town (looking at risk for now given work travel, but we'll see...).
- Continue to post on BP to build my network, learn, and stay plugged into the community.
What about you? How did your January align toward your goals for this year, and what are your plans for February?
@Michael Ehmann I'm loving this approach, I'm in!
First, my goals: 1) Finish my 2017 tax documents. 2) Put together the yellow letter to start sending direct mail. 3) Spend more time with the family. None have changed.
Second, what I accomplished: 1) Spent 30 minutes each night working on my tax docs. 2) Researched yellow letter campaigns and the most effective content. 3) Spent less time in REI and more time with my family.
Third, where I fell short: 1) I tend to procrastinate quite a bit and it's something I am constantly working on. I could have finished my tax docs by now and sent the letters already.
Fourth, February goals: 1) Begin the direct mail campaign. 2) Write 2 blogs. 3) Complete my 2017 tax docs.
Thanks Michael, hope to see you soon at the monthly Atlanta BP meetup hosted by @Jered Sturm and his brother Andy.
My goal was to get my first rental property under contract.
I achieved that. I will be house hacking. I'm moving out of my current house, which I will rent out and I will move into a 2-unit, renting out one unit while living in the unit that needs more work.
My February goals are to:
1. Develop a process for finding top-notch tenants.
2. I'll be doing some basic renovating, so I'm excited to learn some skills such as do-it-yourself flooring.
A main goal I have for this year is to figure out a side-hustle that will allow me to increase my income and accelerate my savings.
I'm a person who is always working towards a goal. Every time I've ever set a goal, I've achieved it. I'm not afraid to work hard to make a goal happen and it's an awesome way to feel like I'm growing as a person.
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