How did you do on your 2010 goals?

Question

Yeah, it might be more fun to look ahead to 2011, and you should.  But how have you done with your 2010 goals?

Did you meet them?  Exceed them?  Fall short?  Why?

Jon Klaus · Answer

My most measurable goal was to add $10K in new monthly rental income in 2010.  I fell short and added $5750/mo.  The main reason I fell short is that I didn't buy nearly as many properties in 2010 as I planned to.  I thought I'd keep up 2009's pace, but that didn't happen because I began to rethink my buying strategy.  I also didn't aggressively pursue new funding.

I did achieve a longer term goal late in the year in buying a ranch.  We are moving in now.  This helps soften the failure of not meeting the $10K/mo goal.

Still thinking about 2011.

Kevin C. · Answer

I was hoping to add another rental property in 2010, but that didn't happen.

Still, in 2010 I converted one of my existing rentals from being rented to a family member to being rented at market rate to non-family.

In doing so I learned about getting the property ready, advertising for a tenant, qualifying a tenant, getting a lease signed and managing the property.

I'm happy with what I accomplished in 2010 by successfully getting one property rented at market rate and successfully managing it - doing everything myself.

It's a little overwhelming getting that first property rented when you're handling everything on your own and you've never done it before.

That hurdle is behind me now.

Account Closed · Answer

hey jon, awesome topic!!!

i think it's great to set goals, but it's better to analyze and reflect on the past year's goals...anyone can say, "i want to buy a skyscraper"...lol, but what'd you do to get you there??  btw, jon, did you get my pm?

2010 was a huge year for me....i've added a ton of rental units thru distressed sellers...my bandit signs have given me great leads...i bought a few properties sub2, flipped a few houses for quicker cash, held financing for buyers, sold a note, working on selling another note as we speak, bought some great cashflowing properties between 8-12k/unit that rent for beween 350-450/month...i can't find my post from this time last year, when we set goals for 2010, but if i could, if feel like i could scratch it off...now my last goal for 2010 was to purchase a new truck and get health insurance...the truck may have to wait til 2011..haha...anyone else?!?

Jordan L. · Answer

In escrow to get my 3rd rental property. A 3bed2bath SFH. The endeavor started in March with an approved short sale. After 8 months with no end in sight, we cancelled and bought an equivalent REO. 2011 my goal is to get maybe another, but I'd first like to build up my cash reserves first.

Katrina P. · Answer

Okay, I see you don't want to fully share :).  I was just interested in seeing how agressive you were this year.  But nevertheless, you did a great job this year!  I wish you 3X+ the success in 2011 :).

Account Closed · Answer

it's enough that i dont' have to sell advertising anymore...lol

Katrina P. · Answer

Way to go, Bryan!  So tell us, what's a "ton" of rentals?

Jon Klaus · Answer

Wow, busy year Bryan! I'm looking forward to hearing your 2011 goals.

Yes, I will answer your PM.

How did you do on your 2010 goals?

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