Developer · Boston, MA · Member since 2017 · 125 posts · 137 votes
I am curious what people are thinking about for goals for 2019- are they financial? are they personal growth focused? are they multi-leveled? What are you doing to meet these goals to hold yourself accountable? How are you or do you keep track?
@Aaron Hunt might keep it and wrap it in some super Anime stuff LOL
I would keep it. The only thing better than one Lambo is two, then you have a Lamborghini Collection. If you do sell, I have first dibs. Aaron prefers BMWs anyways.
Rental Property Investor · Seymour, CT · Member since 2018 · 14 posts · 11 votes
7y
My 2019 goals are networking with people in my areas of interest (Hudson Valley/Central or Eastern CT, 60-70miles max of NYC) in hopes to purchase a multi-family to “house hack”.
Contractor · PNW · Member since 2017 · 58 posts · 48 votes
7y
@Matthew Perry I recommend changing "Goals" to "Commitments", I have achieved far more and become more productive when I write down commitments, for me commitment makes me feel more accountable and I immediately start thinking about impediments in the way of my stated commitment and write a few actionable steps to get me closer to my commitments. The term Goal makes me think someday, and someday is code for "never" in my world.
I have one commitment for 2019, when I reach it that means several other success indicators have been realized also(i.e. robust passive REI portfolio, self-sustaining business), therefore, I only list this one:
By December 31st, 2019, I will be my children's homeschool educator relieving my wife of her duty as the primary educator, spending no less than 4 hours per day as my children's educator, prior to the noon hour daily.
Note: We have four lovely children, 2 boys and 2 girls between the ages of 3&8 years old. Wish everyone well closing out this year and may 2019 be the best ever for you all.
Contractor · PNW · Member since 2017 · 58 posts · 48 votes
7y
Originally posted by @Kelly Iannone: @Matthew Perry 2019? Ha, I’m still hoping for a new multifamily to BRRRR in 2018...at lease aquire it that is. I’m targeting one specific seller who has had this property listed on MLS 3 times in the last 3 years with the price dropping each time. I learned there is some termite damage in the center unit and the owner is in his 70’s...so why wouldn’t he want to sell? Unfortunately he hasn’t responded to either of my two contacts yet (1st letter, 2nd Starbucks gift card with business card) but I’ll keep going. I have his phone number...thinking my next contact will be a cold call. At some point I’ll just send a contract. I’m still hustling this year!
@Kelly I. look into his home address and door knock, the success level I have had and those I know that have done door knocking have had far greater success than any other method. When I have a solid lead like this I get a preliminary report from the title company that gives a little more insight into the owner, I cross-reference the data with my online research tools and track them down. Wishing you success.
Originally posted by @Kelly Iannone: @Matthew Perry 2019? Ha, I’m still hoping for a new multifamily to BRRRR in 2018...at lease aquire it that is. I’m targeting one specific seller who has had this property listed on MLS 3 times in the last 3 years with the price dropping each time. I learned there is some termite damage in the center unit and the owner is in his 70’s...so why wouldn’t he want to sell? Unfortunately he hasn’t responded to either of my two contacts yet (1st letter, 2nd Starbucks gift card with business card) but I’ll keep going. I have his phone number...thinking my next contact will be a cold call. At some point I’ll just send a contract. I’m still hustling this year!
@Kelly I. look into his home address and door knock, the success level I have had and those I know that have done door knocking have had far greater success than any other method. When I have a solid lead like this I get a preliminary report from the title company that gives a little more insight into the owner, I cross-reference the data with my online research tools and track them down. Wishing you success.
Thanks William, I have the owners address (from tax records) and phone number (from multiple evictions) but a preliminary title search is a good idea too. It’ll be good “training” for me and to start building those relationships. Door knocking at the owners house is a good idea! Thanks!
Investor · Honolulu, HI · Member since 2017 · 187 posts · 108 votes
7y
My goals every year are all financial. Usually it's to build up various assets I have- stocks, IRA, deferred comp, purchase another rental property, etc. For 2019, I'm on the fence because I might take some money I have saved for another down payment on a rental and use it to support a business I'm trying to buy.
In any case, I keep track using a spreadsheet and along the year I dig deep and save what I can. Saving money by either eating peanut butter sandwiches during the day or go to bars that sell $1 beer instead of regularly-priced beer. That kind of stuff.
Manchester, CT · Member since 2018 · 3 posts · 1 vote
7y
Love this post! For 2019, I love what Will Long said about being more financially fit!
Priority 1- pay off all consumer debt!! Would love to have my first rental property by the end of the year, but need to get this in order before I'm ready to start focusing on that property. In order to get there, I'm currently renting out the other 2 bedrooms in my house which covers all but $250 of my mortgage. I recently set up Mint to keep my budget on my phone and actively monitor my progress as well as a spreadsheet to track the remaining balance in all accounts (using the snowball method).
@Matthew Perry keeping it simple, I want to close on my first out of state property! This will also be my first investment property, my goal for the rest of this year is to educate myself as much as possible for our of state investments currently reading the one and only @David Greene book and on to finding my property.
Rental Property Investor · Tampa, FL · Member since 2018 · 251 posts · 124 votes
7y
@Matthew Perry
I have a goal of owning a 10-20 unit multi family asset by Q2 of 2020.
Working backwards my goals for 2019 are:
Q1
(1) cash out refinance out of my two current BRRRR
(2) get into a fourplex with potential to cashflow 200+ per door
(3) set up QuickBooks
Q2
(1) big vacation
(2) optimize the fourplex
Q3 and Q4
no idea. I can't see this far down the path
Investor · Birmingham, AL · Member since 2015 · 74 posts · 25 votes
7y
I plan to loose 50 pounds, do 5 flips, and acquire 5 rentals in 2019. I try to set attainable goals first then once i achieve those i move on to more challenging goals. I have a blueprint to hold myself accountable to those goals and not waver. My wife also helps keep me on track. Gotta have a teammate who gets it.
@Matthew Perry
Complete renovation of fourth rental by early January. Have another five plex complete by the end of the year- will break ground by March latest.
Insurance Agent · Phoenix, AZ · Member since 2014 · 148 posts · 66 votes
7y
This is a great question. My wife and I have actually created a personal retreat weekend to plan out 2019. Its our first annual trip like this and it takes place this month. We've created an entire agenda that details both personal and professional growth targets. It should be amazing and it is designed to maximize our energy put towards these endeavors.
2019 professional Investment Goals:
1. Open 2nd Whole Life insurance policy for myself and utilize as a vault to maximize returns (and be most prepared for the unknowns). Invest through the policy.
2. Cash out refinance our primary residence for more acquisitions.
3. Sell a Charleston investment property that has too much equity (relative to returns.) and 1031 into 2 more doors
4. Purchase 12 more doors before 12/31/2019.
2019 Personal Goals:
Have our first child.
I guess it is that time of year that these discussions start coming up. It's so exciting! Thanks again.