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.
-Sell all my baltimore city cash flowing rental properties and take the equity to the bank.
-Give baltimore city in all its forms the middle finger.
Good for you! I manage 700+ units in Baltimore and it's a real nightmare. Making a decent return but not sure if it's worth all the headache the city gives you...
Investor · Chicago, IL · Member since 2014 · 68 posts · 47 votes
7y
Sorry if I didn't respond directly to you but this post really gained some traction and had a ton of replies that I just couldn't keep up with.
Everyone, feel free to connect and reach out to me for anything you might need in the real estate industry. Always here to help other investors as much as I can.
Thank you to everyone who contributed and let's all make 2019 our best year yet - cheers!
Rental Property Investor · Grove City, OH · Member since 2018 · 93 posts · 71 votes
7y
@Raven Armenta Do you find it hard to manage a property out of state? I live in Phoenix and really want to invest in Ohio but honestly I am a bit scared to do my first property out of state.
Radcliff, KY · Member since 2018 · 17 posts · 13 votes
7y
This will be my third year investing. First year purchased a SFH and duplex. Second year was lucky enough to find another duplex and SFH to bring total to 6 units, also completed first flip.
This year looking for another flip as well as adding 3 to 4 more units to portfolio.
Brian - I am starting with just one simple goal for 2019...purchase my first cash flowing rental! I look forward to taking the "leap of faith" into the real estate investment world. Best of luck to you and reaching your goals! We're all in this together.
Rental Property Investor · Sedan, KS · Member since 2016 · 125 posts · 92 votes
7y
I'm a little late to the game i guess. It's been a rough year and to be honest I'm pretty burned out so my goals aren't super ambitious and more geared towards a break from all of the stress and some peace of mind.
Sell the horrible derelict house i live in and get moved into the "new" house. Use profits from the sell to finally pay off all bad debt (aside from a 40k mortgage.)
Get the roof trusses raised and cement pad in the barn for storage and man cave build.
I'll go a step further with 2020 goals since realistically my goals for the rest of this year are lacking.
Paying off the bad debt frees up $1,500 a month that should go towards a rental. But, my wife has been extremely patient and helpful. We drive 15+ year old cars and have lived in a horrible house for 7 years. So the $1,500 is going into nearly doubling the size of our "new" home with a master bedroom, bath, and massive walk in closet. But, after that we will refinance and use the money for a down payment and rehab on a rental.
2-5 more single family rentals with solid tenants and all major repairs done.
Purchase the wife a newer and more dependable vehicle.
Get incorporated and also start another small business.
Build a small stage and a sound system that shakes windows for miles. Car audio has been a hobby since i was a kid. I guess i never really grew out of it. That and my love for rock. And it's 100% been on hold for 15 years. I sort of justify it by building the stage in bolt together sections with plug and play electronics. If anyone for some reason wants the entire mini concert venue then i can sell and deliver it.
Been considering a rental business for equipment and if it becomes profitable I'll have equipment to do some dirt work and construction. And possibly an impromptu concert setup rental if I'm not to busy and some friends want a project.
Investor · Meridian, ID · Member since 2018 · 86 posts · 39 votes
6y
I'd love to hear an update on everyone's goals for 2019! I just purchased the intention journal and am setting 90 day goals to work on the goals I had set that aren't being met this far!