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!
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.
@Mac Sullivan
I am 21 years old and I plan on doing the same thing you have done coincidentally. What have you done during the research phase that has been most productive in learning about this industry?
I constantly listen to the biggerpockets podcast and I just started reading "The Book on Rental Property Investing". "Rich Dad Poor Dad" is coming in the mail.
Real Estate Agent · Boston, MA · Member since 2018 · 3 posts · 1 vote
7y
I am brand new to the real estate investing world and my goals for 2019 are as follows:
1. Attend at least 2 real estate events each month
2. Continue to network with local investors from above meetings in order to learn the business and assemble my own team
3. Finish coursework and pass test to become a licensed agent in Massachusetts
4. Learn more about the in's and out's of anaylizing deals (Flip vs. Rentals, etc) and anaylyze at least 5 deals per week. (# surely to increase with more exposure)
5. Continue saving in order to be able to be in a decent enough financial position to purchase my first MF rental property before end of 2019
6. Make more of an effort to participate in BP forums
Rental Property Investor · Evansville, IN · Member since 2018 · 32 posts · 27 votes
7y
@Brian Pawl
Goals for 2019,
1. Q1 Aquire 1 SFH or Duplex (making offers this week) for Rental
2. Q2-3 Attempt our first Flip ... this is only if we can find the right deal
3. Q4 acquire another SFH for Rental
4. Performance goal, learn from our faults in 2018. And improve those processes in 19.
5. Read 15 more investment books, attend 20 webinars, and attend at least two local meet and greets.
6. Ensure we give our tenants the same service we would expect ourselves.
7. Explore other ways to invest in REI such as crowdfunding platforms like fundrise.
Hope everyone gets where they want to be in 19!
Real Estate Consultant · Mobile, AL · Member since 2015 · 78 posts · 96 votes
7y
In 2018 I didn't come anywhere close to meeting my goals so I decided to create a podcast where I share my annual goals for 2019 and my quarterly goals for the first quarter in 2019, and the actions steps needed to complete them.
Every Sunday I share my results for the previous week and set my weekly goals for the week ahead.
Monday though Saturday I review the previous days action steps and set my daily Big 3 for that day.
This is to my hold myself accountable to my listeners, because I don't want to look stupid in front of everyone, and for those that leave comments on their goals and results each day, can also be held accountable for achieve their goals.
If you go to the website in my signature you will find the podcast if want to check it out.
@Trevor Klaus I think it's awesome that you are 21 and are already getting prepared to buy your first property. If I am being honest, I don't think I'll ever feel truly "ready" to dive in. There are so many unknowns, but like many on the podcast say, your first deal is not going to make you rich or change your life in and of itself. With this in mind, my investment goals for 2019 are to purchase three multi-family properties (even though I don't feel 100% confident) and to learn as much as a I can throughout the process. I think I have gained enough knowledge through listening to the podcasts, pouring over the forums, and reading real estate books to where I now want to focus on experiential learning. I want to buy and rent out an investment property, get it professionally managed, have it cash-flow upwards of $3,500 annually, and learn as much as possible throughout the process. And then do this again, and again before 2019 is over.
Here's what I have done during my "research" phase:
1. Listen to the BP podcast. While making breakfast, driving to work, working out, cooking dinner, etc. I have become obsessed with the idea of educating myself and feel like an unproductive slouch if I'm not engaging with material while doing relatively mundane tasks.
2. Read the forums with intention. Use the search function to find posts related to your target market. Find other BP members that are in your target area and creep through their posts. Reach out to them. Search using numbers and cash-flow estimates. Do exactly what you did when you reached out to me, which is find other people that are doing exactly what you want to do and learn from them.
3. Read good books. There are a slew of them. I don't really think you can go wrong.
4. Analyze deals. I am a pro member specifically because of the calculators. There are other perks, but for me, it is really about the calculators. Even though I was not ready to purchase, I consistently searched the MLS and craigslist for properties in my identified markets. Figure out what a deal looks like before you are ready to buy and when you are finally ready to take the plunge, you'll at least know what to look for.
5. Once I knew that purchasing an investment property was not an "if" but a "when" I began researching and reaching out to different property management companies. I wanted the gift of time to make a good decision regarding management instead of buying and then feeling the need to just "go with someone."
6. I have not done this one yet, but I need to find and befriend a successful and motivated investor friendly agent. I don't like wasting people's time, which is why I have waited until now to do this. I have bought and sold multiple primary residences since graduating from college and this is an altogether different beast.
I'm not sure I have provided you with anything you wouldn't have done already on your own, but I hope there might be something here that can help. Feel free to reach out with any other questions. Best of luck moving forward!
Allentown, PA · Member since 2018 · 29 posts · 9 votes
7y
We want to start house hacking by the beginning of the summer (obviously we wont force anything) so that we can save on our housing expenses and move closer to our financial goals.
We also want to purchase at least 1 other residential multi-family property by the end of the year.
Without a plan the chance of success are much lower so our plan of action to achieve these goals is as follows:
Continue to network with local investors via the various meetups available
Continue to look at the MLS deals as they come through
Continue our Direct Mail campaign that we had started in the past 3 months as well as start another.
Determine another outlet to find deals that we want to pursue (ie. Foreclosures, Sheriff Sales, Tax Sales ...)
Contractor · Strongsville, OH · Member since 2018 · 10 posts · 1 vote
7y
@Brian Pawl
For the past year I've been soaking up as much real estate and tax knowledge I can get my hands up. I'm currently on the contracting end so I'm focusing on the other aspects. My goal for 2019 is to buy my first SFH and flip it. Once I get my feet wet I'd like to BRRRR a SFH or duplex around the end of 2019 or early 2020.
Investor · Meridian, ID · Member since 2018 · 86 posts · 39 votes
7y
@Brian Pawl
Thanks for this discussion, I'm happy to get my goals out there!! Can't wait to hear of your progress and success!
-To aquire 10+ properties using the BRRRR method investing out of state.
-Have first property in contract by end of Jan
-Do 1 flip locally
-Make 100k+ in my business as an agent
-Sell personal home and purchase something more investor savvy
-Attend all local REI meetings and connect with as many brilliant investors as I can!
Developer · San Antonio · Member since 2018 · 17 posts · 4 votes
7y
@Brian Pawl
As a noob to real estate investing.
My goals for this year:
1. Keep learning
2. Go to meetups and network
3. Buy my first SFH in Tx San ant/Houston area out of state investing
Reston, VA · Member since 2017 · 67 posts · 68 votes
7y
I bought my first house hack at the end of 2018 and I'm looking to finish all the work on the property this week and finally start looking for roommates starting next week! For 2019:
1. Complete at least one BRRRR and break even at the minimum (this is my learning property!)
2. Pick up at least 2 more rental units
3. Build a network with contractors, real estate agents, HML and of course other investors by attending meetups regularly and actively networking.
4. Last but not least read the book on taxes (paraphrasing) and the book on invest from afar (paraphrasing again). I own both, but have been reading other business related books lately.
New York, NY · Member since 2019 · 1 post · 0 votes
7y
@Brian Pawl thanks for sharing your goals! I appreciate you getting this thread going - I've taken a peek through each post and have learned some valuable information/reflected on what I'd like to accomplish! As I begin my REI journey in 2019, here are my goals:
1. Soak in as much information from those who have found successful methods (i.e read 5 real estate investment books this year, listen to 3 REI podcast episodes a week, attend local meetups, etc.)
2. Solidify my investment criteria - strategy (BRRRR, Buy & Hold, Fix & Flip, House-hack, etc.), minimum % return per deal, focus area (MF,SF), specific market, etc.