My goals for 2020. What are yours?

Investor · Lehi, UT · Member since 2015 · 435 posts · 300 votes

Depending on the position a little bit of both. But I really shoot for core values someone that will fit in with our team and culture and will not only have a good work ethic but the desire to always improve.

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Philippe SchulligenPro Member

Investor · Atlanta, GA · Member since 2016 · 57 posts · 29 votes

6y

Inspiring thread! Here are my goals for 2020:

Continue to gain experience from other successful operators by attending mastermind groups and conferences.
Write articles or blog posts to share my experience. (started on BP few weeks ago: The Multifamily Investor)
Co-sponsor 2 to 4 commercial multifamily syndication deals.

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Shiloh LundahlPro Member

Rental Property Investor · Gilbert, AZ · Member since 2016 · 3k+ posts · 4k+ votes

6y

@Jon Hill, @Jaren Barnes,

I created a new post for an update on your 2020 goals. https://www.biggerpockets.com/...

480-206-1209 Podcast Guest on Show #287

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Orlando Bryant

Member since 2019 · 2 posts · 2 votes

6y

@Jon Hill thanks Jon! Yes, My goal is to acquire my first property by September 1st.

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Hunter Wolfe

New to Real Estate · San Francisco, CA · Member since 2017 · 23 posts · 17 votes

6y

I'm jumping into this thread way late, but my goals right now are still the same as they were in January, and I'm making great progress toward them!

1. Bring in one deal for my flipping team every six weeks (currently at one deal every four weeks. My goal was 8 - I'm currently at 12!)

2. Weigh 200 lbs. and improve my fitness/nutrition. I'm a hard gainer, so putting on weight and keeping it on requires a lot of discipline. I stepped up my fitness game and joined a CrossFit gym in Minneapolis, which I love! I also started tracking my macros so I can achieve the 12-15% body fat ratio I'd like

3. Buy my first personal investment property. I'm renting right now, but to help me achieve my goal, this year I cut my rent by $450 by moving into a cheaper place, and I cut my expenses in other areas, too. I've saved about $25k for my first property! (Although, I was denied for a loan last week, but I'm determined to find a way before my lease expires in April!)

4. Read 26 books. I'm only on 8 books right now, but I still think it's possible to hit my goal if I stay convicted!

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Andrey Y.

Specialist · Honolulu, HI · Member since 2014 · 1k+ posts · 1k+ votes

5y

Originally posted by @Jon Hill:

One the things I learned from BP that I love the most is the goal setting for the new year. My fiance and I started this last year and really enjoyed it, for not only personal goals but couple goals. So what is everyone's goals for the next year?

Mine are the following:

1. Read 52 books. I attempted this goal last year and really enjoyed it. I got to 30 which I was actually very happy with. It forced me to develop a skill and I learned a lot about different things in the process.

2. Purchase 2 more rental properties. I set the goal for last year to purchase one and was able to achieve this through a partnership. I want to use the stack method now and continue to grow my portfolio.

3. Run a marathon. I was able to run my first half last year, which was a big accomplish as I had never ran before. I signed up for a marathon, but did not train the way I need to so I did not attempted after receiving some advice that I could really injury myself. Very much looking forward to achieving this one.

4. Double my sales as an agent. This is similar to the stack method on the portfolio. I know that if I continue to increase my sales that it will allow me to other things like expand my portfolio.

5. Have at least one date a week with my fiance. We are in the early stages of wedding planning along with her starting a new career so we have every excuses as why to not make this happen. That is why this one is the most important to me. I must carve out time every week for her and make it my most important thing I do!

I can't wait to see what I learn as I pursue each of these goals! 2019 was a blast of a year and I can't wait to make 2020 even better. What is everyone else goals? Looking to learn a new skill? Add more properties to the portfolio? Or even just be more presence in every day?

How did everyone do on their 2020 goals? Please update below! My update is coming presently.

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Andrey Y.

Specialist · Honolulu, HI · Member since 2014 · 1k+ posts · 1k+ votes

5y

1. $250K annual income - Just met (W2 + RE)

2. 15 passive syndication investments by end of 2020. - Exactly met (15K-1s) (not active - total passive investments done.

3. +$500K NW (not met, but close, ~$384K)

4. Recognize and know 5000 Korean word meanings, conversational fluency. (Korean is done/change of heart, Mandarin is going very well - new goals for 2021)

5. Start selling individual properties (need to let go off one at least in 2020!) (DONE)

6. Travel to one new country per month through Sept. 2020, at least 12 countries visited. (I'll say DONE - was successful visiting one+ country per month from Jul '19 to Mar. '20)

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Shiloh LundahlPro Member

Rental Property Investor · Gilbert, AZ · Member since 2016 · 3k+ posts · 4k+ votes

5y

I like to make yearly goals in each area of my life but here I will share only some of my real estate goals for 2020:

Sell 19% of one of my real estate companies for 400K. I decided against selling a portion of my company and instead worked on refinancing properties and by mid January I will be cashing out about 470k from the refinanced.
Separate my business finances better by taking 250k of that money and pay off business debt from my other businesses that I have used to fund the acquisition of properties in my main real estate business. This goal was about 60% complete and will be fully complete in January.
Use the other 150k to continue purchasing properties in the Triad area of North Carolina. This will be accomplished as soon as the refi closes in January.
Purchase 36 single family properties (24 in Greensboro, Winston-Salem, and High Point, and 12 in Arizona) and lease them out using the lease option strategy. We only purchased 5 properties in the Triad area of North Carolina this year but we purchased about 75 - 80 units in Arizona. So this goals was not met in one area but overly met in another area.
Purchase a 30 pad mobile home park with 10 units already rented and an additional 20 pads available to rent out, improve advertising and double the value of the park and basically BRRRR the mobile home park. This goal was not met. We purchased the park but with the slow down in the city government and the needed approvals and the restrictions on adding more units to the park, we did not meet this goal. However, we have been successfully working with the city to turn the mobile home park into a tiny house community in Florence, Arizona. So we are excited about this.
Go on the Investor Summit at Sea real estate cruise with the Real Estate Guys, Robert Helms and Russell Grey. This was canceled due to the Coronavirus.
Bring on one or two more assistants to lighten our work load and systematize our businesses better. Accomplished.
Appear on 10 more podcasts to increase brand awareness in order to raise money for our real estate deals. I believe that I appeared on 5 or 6 podcasts this year.
Get 20 new real estate coaching clients and help them acquire their first, second, or third property. I have 8 current clients and coached another 4 or 5 in buying properties this year.
Increase cash flow by another 5k this year. Accomplished.

480-206-1209 Podcast Guest on Show #287

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Dana Tenebruso

Member since 2019 · 16 posts · 8 votes

5y

Hi @Shiloh Lundahl, thank you for sharing not only your goal setting but also your year in review. I am a newer investor with a few deals independently but I've recently went into a partnership with 2 other investors and we've had a bit of a stall since setting up. I see you are looking to invest in the triad area which is where Im currently living and trying to grow. Part of my 2021 goal set is to connect and network more, not only with newbies but also with more experienced folks who are willing to share. I wonder if you would be willing to connect and share your story with hopes of adding some more inspiration to mine. And who knows???....maybe we can one day make a deal in the Triad of some sort.

thanks,

Dana

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Jon Hill

OP

Real Estate Agent · Firestone, CO · Member since 2018 · 124 posts · 115 votes

5y

Last year's goals

Mine are the following:

1. Read 52 books. I attempted this goal last year and really enjoyed it. I got to 30 which I was actually very happy with. It forced me to develop a skill and I learned a lot about different things in the process. I am half a book away from completing this one. I learned a lot of different things with this one and it forced me to create the time for it. I don't think I will do it again as I felt rushed at times through the books, but still a lot of fun.

2. Purchase 2 more rental properties. I set the goal for last year to purchase one and was able to achieve this through a partnership. I want to use the stack method now and continue to grow my portfolio. I did not accomplish this one. It ties into goal 4 but I allowed the external world to effect my mindset too much. Should have gotten it done, but learned a lot about the importance of mindset.

3. Run a marathon. I was able to run my first half last year, which was a big accomplish as I had never ran before. I signed up for a marathon, but did not train the way I need to so I did not attempted after receiving some advice that I could really injury myself. Very much looking forward to achieving this one. I completed this one on October 31st. I can't express how hard this actually was. It become more about if I was going to allow myself to accomplish it. I had been working towards this for more than 2 years and felt that there would be a major void if I completed it.

4. Double my sales as an agent. This is similar to the stack method on the portfolio. I know that if I continue to increase my sales that it will allow me to other things like expand my portfolio. Again, like I said on 2 I allowed my mindset to be affected and listened to all the reasons why I couldn't be successful. Still a solid year for me, but did not achieve what I set out to complete.

5. Have at least one date a week with my fiance. We are in the early stages of wedding planning along with her starting a new career so we have every excuses as why to not make this happen. That is why this one is the most important to me. I must carve out time every week for her and make it my most important thing I do! We did this all but a couple of weeks which I was happy with. We were able to get married and still had an amazing wedding. It changed some because of the world, but I can happily say I am married to the woman of my dreams.

I think I learned a lot of each of these and maybe even more from the ones I did not get done. I recently read the 12 Week Year so how I goal set has shifted, but excited for my next set of goals to be completed.

In the next 90 days I will:

1. run a sub 21 minute 5k

2. completed the 75 hard

3. pay off one of our cars

4. serve 8+ families in real estate

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My goals for 2020. What are yours?

My goals for 2020. What are yours?

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