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!
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.
#1 goal is to sell our house in Texas (been on the market for about 9 months now. No offers.)
Hopefully close out my husband's uncle's estate that will allow us to get started investing (and lower the price on our Texas house drastically, if necessary)
Attend every monthly meet-up of my local BP group
Complete 2-3 BRRRs on SFH.
If the deal is there, just do 2 BRRRs on SFH and start trading up into MF.
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.
Thanks for the kind words Robert! Sounds like you've got your plan already laid out in front of you - all that's left is going out there and grabbing it. Best of luck to you this year!
My partner and I did a combined 67 wholesale deals last year. We’ve added some people to the team and going to double are marketing. Looking to assign 120 contracts this year! Very scalable business model once you get it figured out. Wish all the best, let’s crush 2019!!
That's awesome - always love hearing about people crushing it in wholesaling. Keep me updated on your progress this year, best of luck hitting that 120 goal!
I have been in the research phase for the past year and am ready to make 2019 the year I jump in. My goals are as follows:
Continue to network and grow contacts in my local market
Attend local Meetups
Become a more active member of the BP community
Buy 3 cash flow positive multi-family rentals.
This is the first time I have written down these goals and it feels awesome. Thanks for starting this thread @Brian Pawl Now I just need to do the work to get them done!
First step is getting clear on exactly what you want - and you've just done it. Now you've got the whole year to make it happen. Hope 2019 is the year you cross that threshold and get your first deal under your belt! Let me know when you do.
The almost brrr consists of our lender lending the purchase and rehab depending on our appraisal. We had the appraisal done as if the remodel was already done and hit our ARV number of 105k. Now we are on to title and hopefully close in a couple weeks. Then rehab and tenants by 4 months.
Best of luck to you! BRRRR is a great strategy, keep me updated on how it goes.
My goal is to find a new 6-12 unit multi family and maybe another SFR property. Haven't purchased any new investments in about 4 years because I just can't find anything with great returns.
Good luck finding your next investment! Where are you looking primarily?
My goal is to get my company structure created (appropriate LLCs) and then hit the ground running. Before the end of the year, I would like to have expanded my investment company to the neighboring states of Illinois, Kentucky, Tennessee and Arkansas. I would like to even go as far north as Pennsylvania since I'm from there and know the area (northwestern part to be exact), but time and market will dictate that journey.
I know there will be responses against LLCs and some people say to just jump in, but this is my company policy and I'm more than ok with disagreements. I've done enough research to know that this is how I want to start out.
Stay committed to your vision and what you feel comfortable doing - don't worry about what anyone else says. Best of luck getting things going in 2019!
@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).
Sounds like a plan - I did the same when I was starting out and purchased my primary residence. Definitely helps juice the numbers a little.
I currently a new investor and a full time restaurant franchise owner. I just closed on my first fix and flip property in November of 2018 and right now I’m 70% done with renovations.
My goal for 2019 is 10 flips 10 rentals. I know it’s a huge goal for a first year investor. But I’ve went by the saying “shoot for the stars and at worse you’ll land on the moon” lol. I’m also hoping to connect with some experience ppl just for advice and ideas. I’ve been studying hard on the Brrr approach which I’m looking to do I’m not rental investment. I just still have a few questions if any experienced investors out there can DM me. Thanks guys. Cheers to 2019!!!
Dream big! Don't sell yourself short - if you think you can do it, you can. If you want to chat about some of your questions, feel free to DM me and I can hopefully clear some things up for you. Good luck this year!
Well for 2019 i plan on buying first property, it will be a house hack with preferably a four-plex. Meet a cpa to go over tax strategies. Meet a lawyer to get solid paperwork and start the conversations of future entities. Use savings from househack to build capital for future investments. Learn as much about investing in realestate as possible. Good luck everyone lets try to get 100% of goals meet on this thread!!
I'm currently living in my first "live and flip". My goal is to sell this one while finding another live and flip. I would also like to expand my network through meetups and biggerpockets. Good luck to you all in 2019!
Good luck to you! How's the living and flipping going? That's how I started out too, so want to hear your thoughts.
This year my real estate goals are about increasing cash flow and building networth.
1. Build passive cash flow to 10k/month
2. Increase networth by 50%
3. Sell house in Burbank with seller financing
A couple of my non-real estate goals that go along with financial goals are to:
1. Expand my financial coaching and leadership company to Costa Rica and travel back and forth regularly.
2. Share a free app that gives people discounts at 70k plus merchants throughout the United States that also gives people rebates in crypto currency that they can use as currency immediately at any of the merchants. My goal is to get this app to 100,000 people.
Sounds like you're killing it! That app sounds pretty sweet. Best of luck to you this year!
My goal is to gain knowledge while getting my feet wet with real estate investing at the same time. I know i will make mistakes but I rather make mistakes while doing something versus doing nothing this way I can learn from them and grow.
Good luck getting out there taking action! One of the hardest part for newbies.
@Brian Pawl
I want to purchase my 1st property using the BRRRR method
I want to be able to discuss real estate with seasoned professionals
I want to gain more freedom and flexibility in my life
I want to set an example for others in my community to follow to be financially independent
$300,000 Revenue from (Fix-n--Flip / BRRR) Construction
10 houses completed
Less than 90 days construction/ house
Average Income of $30,000/ house BRRR
Average income of $50,000/ house Resale
$150,000 Revenue from Leasing
90 leases complete
Most people sign within 3 days of walkin tour
Sign with a 2nd developer
Average commision of $1,800
$100,000 Revenue from Rents
10 units
Average Rent $1,200/ unit/ month
General Business
Hire a summer intern
$250,000 in bank account at EOY.
$250,000 in Company Asset Equity.
8 High Quality People
Update: We’re planning on buying a six unit and converting it to an eight unit before the end of January. We will meet some of these goals by the first month
I’m a newbie investor, my real estate goal is to acquire my first investment property by Dec 31st, 2019
Best of luck to you! You looking in the Chicago area?
I live in the southwest suburbs so I was thinking of starting out in the Plainfield, Aurora, Joliet areas first. But I'll be evaluating over the next 3-6 months which area is the best fit
@Jeff Langham - I am with you on #1. Would you PM me the lender you are using? I need to refinance my VA loan, so I can use it on another personal home but right now and have been looking for a good lender. Thank you.
Joni S. Weideman
Goals (Newbie - I do own 7 doors):
1) Continue getting rid of all of my consumer debt. Have a plan and have been following it.
2) Focus on whole sale to increase cash flow. Goal is 4 contracts assigned.
@Brian Pawl
I'm just getting started with REI and my goals are probably the same as many newbies.
I want to continue to educate myself. I hope to read at least 1 real estate/business book per month, and continue listening to the BP Podcast.
I want to get my first deal under my belt. Likely to be a live in flip, house hack hybrid.
Or maybe a small multi-family to get some cash flowing.
If the first deal goes well, I'd like to roll that cash flow into another property and continue to grow.
Good luck to everyone in 2019!!
I completed 75 real transaction last year as a lead agent on a team and recently went solo. My agent goals are to close 36 of my listings this year. I tend to focus about 80% on sellers so I didn't even set a buyer side goal.
On the investing side, my goal is to flip 8. We currently have one about a month from completion and 2 under contract for purchase.
My final goal is to acquire my first buy and hold single family home.
I use the GPS that Brandon and David discussed on the podcast, but mine is slightly modified and then a take it deeper to develop weekly goals and scoreboards. Would love some mutual accountability and super happy to share my GPS format and my 411 format (4 sets of weekly goals, 1 set monthly goals, and 1 set of annual goals). Brought me a lot of clarity for tracking and self-accountability.