What are your goals for 2019?

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What are your goals for 2019?

Brian Pawl
Investor · Chicago, IL · Member since 2014 · 68 posts · 47 votes

I know that accountability was one of the biggest factors for me being successful in real estate investing (or any business for that matter), and one way I was able to hold myself accountable was to announce my goals publicly on social media and/or to my friends and family. I think it would be cool if we posted our goals for 2019 below, and maybe then we make some connections that will be resources for us to help reach those goals, and also help hold us accountable.

I'll go first -

  • I want my current fix and flip property under contract by the end of February
  • I want to exceed the $100k mark in wholesaling profits by the end of the year
  • I want to sign on 10 new coaching clients in 2019

Now it's your turn. Leave a reply with your goals below and let's all kill it in 2019!

-Brian

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Jay Helms
Rental Property Investor · Gulf Breeze, FL · Member since 2014 · 1k+ posts · 733 votes
7y

This year I'm taking a "break" from acquisitions and focusing on other REI entrepreneurial tasks. The air quotes because I will continue to look and strike if a deal is right, just not setting any goals right now. In fact i only have 2 goals for this year.

By year end 2019, I’ll have:

-100 active members in my REI mastermind group

-10k Members in my closed FB Group 

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  • Charlie SchneiderPro Member
    Rental Property Investor · Studio City, CA · Member since 2017 · 5 posts · 5 votes
    7y

    @Shiloh Lundahl is your Burbank house currently listed? My wife and I are looking to buy our first home in Burbank & live in an ADU while renting out the main house!

    1Reply
  • Shiloh LundahlPro Member
    Rental Property Investor · Gilbert, AZ · Member since 2016 · 3k+ posts · 4k+ votes
    7y

    @Charlie Schneider It just so happens that our house has an ADU. The main house is 2 bed 2 bath and is Just under 1400 ft.², and the ADU is around 350 ft.².

    480-206-1209Podcast Guest on Show #287
    0Reply
  • George SkidisPro Member
    Rental Property Investor · Belleville, IL · Member since 2017 · 875 posts · 529 votes
    7y

    William Clark LLCs are great, HOWEVER.

    However, they are not the only option. An S-Corp is receiving more favorable tax treatment since the new tax changes were implemented. Attorney Mark Kohler author of "Lawyers are Liars" has some great information about this. 

    Each entity you create must file a separate Federal income tax return. Additionally each entity must file a tax return in the state the business is located in. If you are doing business out of state your company is treated as a foreign entity. You then must file two or more state income tax returns. The first is the state where the company is domiciled known as a domestic entity. The second and subsequent tax returns are only limited by the number of states your company does business in. 

    Example: You have 4 LLCs located in Illinois. Each LLC is doing business in four additional states. You will need to file a total of 4 Federal income tax returns and 20 State income tax returns.

    Question: Are you making enough money to pay for all the accounting services? 

    Question: How much are you paying to register the LLCs in your state AND pay the foreign entity registration in each additional state. The same example is 20 LLC registrations.

    Go simple and buy insurance until after you are making enough money to do this.

    2Reply
  • Raven Armenta
    Lender · Los Angeles, CA · Member since 2018 · 14 posts · 11 votes
    7y
    Originally posted by @Brandon Sturgill:

    Hey @Raven Armenta were you able to get your property leased-up?...what part of Ohio?

     It's in Toldedo, Ohio. I've got 2 more units to fill ;)

    1Reply
  • Raven Armenta
    Lender · Los Angeles, CA · Member since 2018 · 14 posts · 11 votes
    7y
    Originally posted by @Cody Willmoth:
    Originally posted by @Jeff Langham:

    @Raven Armenta - Thanks. It's going to be a great year.  Your goals are inspiring as well.  I've been wanting to connect with other MF investors. The closest I've come is to being a passive investor in a 256 unit complex in Beaumont, TX. 

    @Brian Pawl - I have read multiple articles on the pros and cons of investors having a license and decided that since I already had taken the RE courses needed to take the exam I might as well take the exam as it may potentially help out with a commission when purchasing my primary residence(s). 

    lol I literally just died laughing. But congrats on that. ;)

    0Reply
  • Account Closed
    Investor · Surprise, AZ · Member since 2018 · 156 posts · 110 votes
    7y

    My goal for this year is to:

    1. Sell my current rental once the lease is up. 

    2. Use the proceeds from that sale as down payment on a new SFH or multi if I can find one in my area (not likely but stranger things have happened).

    3. Network more with private money sources to fund more SFH's.

    4. Continue to network with other investors and form a JV.

    5. Build a relationship with a mentor to get me to the next level. I spent most (well all) of 2018 studying and networking but made no real pivotal relationships. Everyone seemed to be new and trying to do the same things...or experienced and trying to sell something.

    0Reply
  • Lindsey Nero
    New to Real Estate · Chicago, IL · Member since 2017 · 7 posts · 4 votes
    7y

    @Brian Pawl

    My 2019 goals are: 

    1. Buy and Hold 2 Multi-Family Rentals
    2. Generate 100k profit in wholesale deals
    • continue to read and educate myself with the current market. (although I did a lot of this last year)
    • Attend meet up and seminars to build great relationships with other investors. 
    • Find a great coach/ mentor and learn as much as I can in different facets of investing. 

    I've been researching all 2018 and I think I may have analysis paralysis, but I'm ready to get to work! 

    0Reply
  • Wyatt Reed
    Investor · Pulaski, TN (38478) · Member since 2018 · 10 posts · 8 votes
    7y

    My 2019 goals:

    • Pull the trigger on my first Real Estate Deal
    • Finish the year with 2 properties
    • Read a book every month
    1Reply
  • Preeti Madan
    New to Real Estate · Toronto, Canada · Member since 2018 · 22 posts · 5 votes
    7y

    I am newbie to RE, but it has been my dream for a long time. So in 2019, i am very much focused on investing my time and energy into learning RE. Currently i am an immigrant in USA and planning to move to Canada. As i am not sure what is going to be my home, i will invest my time into reading RE books and be active in forums to acquire as much knowledge as possible and save money , so that by the time i am ready to invest, i will have everything to kick out my deals.

    Thank You.

    0Reply
  • Chuck Mader
    Investor · Punta Gorda, FL · Member since 2015 · 35 posts · 30 votes
    7y

    Pretty simple - 1 new SFR per quarter this year.

    1Reply
  • Greg Raymond
    Trenton, MI · Member since 2018 · 18 posts · 3 votes
    7y

    @Brian Pawl

    My goal this year is to wholesale my first property, and finally get rid of the junk in my garage haha

    0Reply
  • Bill McCafferty
    Real Estate Investor · Coatesville, PA 19320 · Member since 2011 · 108 posts · 178 votes
    7y
    2019 Goals.

    1. Make $1k a day / $365k for the year.

    2. Buy 1 to 2 Non Performing or Performing 2nd Mortgage Notes per month. 18 for the year.

    3. Create another stream of income outside of what I do know. Not another Asset, but another business or service.

    4. Continue to improve my relationships with my family, friends and clients. Be the best I can be for them.

    5. See 15 live music concerts (at least 10 Phish Shows).

    6. Attend at least 4 Real Estate / Education Conferences / Events for the year.

    7. For my Asset Management Company, take on at least 50 Non Performing 2nd Mortgage Notes from Clients to manage.

    1Reply
  • Isaac R.
    Member since 2018 · 23 posts · 11 votes
    7y

    1. Start new job with a bang

    2. Learn about RE and make contacts!

    3. Purchase one buy-hold with 400+ cash flow

    4. House-hack with my remaining VA allotment, triplex or quadplex

    5. Learn to play the cello

    6. Read two non-fiction books every week

    0Reply
  • Odie Ayaga
    Specialist · Delran, NJ · Member since 2016 · 2k+ posts · 951 votes
    7y
    Originally posted by @Robert S.:

    @Brian Pawl

    Great idea for a thread.

    My first is to to increase my customer base for electrical contracting and consulting.

    My second goal is to begin investing in performing notes and then move after certain experience based milestones are met, move into non-performing notes in foreclosure states with the quickest legal processes.

    My third goal is to spend more time in the OBX, Charlotte and Pinehurst areas of North Carolina since the vast majority of my family lives there.

    I’m a union electrician by day in Jersey City and working for a great contractor, so I will continue using that income to invest in myself and my business.

    Thank you for starting this thread, it’s a gem.

    Didn't know you were joining us in the note space Robert. Glad to have you!

    0Reply
  • Cody L.
    Rental Property Investor · San Diego, CA · Member since 2013 · 3k+ posts · 4k+ votes
    7y

    5k units 

    0Reply
  • Robert S.
    Contractor · Milltown, NJ · Member since 2016 · 297 posts · 213 votes
    7y

    @Odie Ayaga

    Thank you, much appreciated. Always been on the radar, finally positioning myself to do something about it.

    0Reply
  • Heather H.
    Rental Property Investor · Las Vegas, NV · Member since 2016 · 83 posts · 98 votes
    7y

    Wow, it's interesting to find out more about everyone's goals, achievements, and levels of experience. Bigger Pockets sure is a diverse community! It's great to hear from the real professionals as well as the people just starting out.

    My personal RE goals this year are to close on the duplex I have under contract right now, which is my first MFR, and to complete my first flip before summer buying season starts. I'd also like to get some of the equity my husband and I have have in our SFRs working for us, and ideally use that to pick up another SFR or small MFR.

    I'm returning to real estate after not making an investment since 2011, so my goal is also to be very mindful not get carried away in irrational exuberance!

    My most important RE goal for this year, though, is to help my mom make an investment that will generate cash flow to support her through her retirement. 

    1Reply
  • Jordan MoorheadBusiness Member
    Real Estate Agent · Austin, TX · Member since 2015 · 5k+ posts · 3k+ votes
    7y

    @Brian Pawl mine are to buy 2 more duplexes and 10 more units not counting duplexes.

    [email protected]512-888-9122
    The Moorhead Team5140 Reviews
    WebsiteView Page
    0Reply
  • Kristen Mathias
    Rental Property Investor · Baltimore · Member since 2018 · 35 posts · 20 votes
    7y

    I am looking to make the best/ educated decision as I look into options for my first purchase. 

    I am still looking into it all since Baltimore is not one of the top investment areas, but it may be a smart decision of me. 

    I have a lot of hesitation because it is a big risk, yet I know that if I really become solid on the numbers I can trust that. 

    Thanks

    2Reply
  • Donna Salmiery
    Pharmacist · The Villages, FL · Member since 2014 · 96 posts · 36 votes
    7y

    Closed on property #4 Nov 30th and it is still vacant. This year, I am planning on paying down debts and doing research on vacation rentals which is where I would like to venture next. But the first priority is getting my new property rented. The first mortgage payment hurt with no tenant to pay!

    1Reply
  • AJ Smith
    Rental Property Investor · Bettendorf, IA · Member since 2018 · 153 posts · 75 votes
    7y

    Love this thread, accountability is key!

    I'm a newbie to RE investing, so my RE Goals for 2019 are:

    1) Connect with RE investors in the Davenport/Bettendorf, IA area (already going to my first RE meetup on Tuesday!)

    2) Build my network here on BiggerPockets.com (hit me up!!)

    3) Find local banks and credit unions that will allow me to refinance based on ARV so I can implement the BRRRR strategy right away, recoup my capital, pay my Private Money Lenders and continue growing the ye' ole' portfolio.

    4) Analyze 1 deal in my market every day.

    5) Close on my first rental property by the end of 2019.

    Lots to do, time to go to work!

    0Reply
  • Sue Croson
    Member since 2019 · 3 posts · 0 votes
    7y

    My husband and I have an action plan in place to buy our first investment property this year. Our plan is in a The next six months if we can find our deal.

    0Reply
  • Clarence Johnson
    Real Estate Agent · Inglewood, CA · Member since 2015 · 295 posts · 150 votes
    7y

    @Shiloh Lundahl what is your motivation to seller finance?

    0Reply
  • Shiloh LundahlPro Member
    Rental Property Investor · Gilbert, AZ · Member since 2016 · 3k+ posts · 4k+ votes
    7y

    @Clarence Johnson Cash flow and maximize profits.

    480-206-1209Podcast Guest on Show #287
    1Reply
  • Jennifer Bryant
    Rental Property Investor · Washington, DC · Member since 2018 · 30 posts · 38 votes
    7y

    This is my first post in the BiggerPockets forums :) My 2019 real estate goals are:

    1) Purchase my first buy and hold investment property in Baltimore in the 1st quarter of 2019 (I've placed 3 offers so far, hopefully the next will be accepted).

    2) Read the Book on Managing Rental Properties and get comfortable self-managing my first rental.

    3). Purchase my second buy and hold investment property in Baltimore in the 4th quarter of 2019. 

    2Reply
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