Here is my goal for 2015:
- Complete 8 flips in the year
- Average 15k of net profit in my pocket on each deal
That's its, pretty basic. I am closing on two properties in November that I will be listing at the beginning of 2015, so I feel I have a good head start to reach my goal. My biggest obstacle will be tax season (I am a CPA and tax season gets a tad busy). So I am hoping to close on a property in January 2015 that will keep my partner on the deals busy during the tax season.
@Tyler Smiarowski Excellent goal, best of luck sir!
Jordan Thibodeau, Check Out My BP Blog | https://www.biggerpockets.com/renewsblog/author/jordanthibodeau/ | Podcast Guest on Show #74
@Tyler Smiarowski That's a great goal sounds like you'll be busy!
Hey, @Tyler Smiarowski !
Good goal on the 8 flips! You'll be quite busy! I'd be interested to hear quarterly reports of how your progressing :).
My goal for 2015 is to obtain 6 more long term rental properties, each with a cash-flow of approximately 550/month after ALL expenses.
We, too, are closing on 2 properties in November: a 4plex to hold and a SFH to flip.
Once we have 6 more properties in 2015, we'll be retiring to Central America haha.
Lofty, i know.
My goal is early retirement haha.
Actually, I'd like to build a good list of investors that I can bring deals for the Cedar Rapids/Iowa City area.
Are you doing any advertising to find deals? I would be interested to know what locals use for direct mailers and the cost?
Goals for 2015 - more multifamily properties to buy and hold (maybe some single family if the numbers work) ideally looking for $200/door cash flow with as little down as possible. Like everyone else trying to ditch the day job asap and retire (if you can call the real estate part "retirement") - about 25% of the way there now.
@Tyler Smiarowski awesome goals. Once you do the 8 flips are you then going to invest in buy and holds?
2015 Goals: Increase cash flow. Given the changes in the market, and things getting more difficult, I will have to play it by ear on exactly how I do that. It might be SF, or MF, or commercial or a bit of each.
Will continue buying until interest rates or property values no longer work with my formulas, and then will sit back. Can't be as aggressive as I used to, because I don't have as much free time, but still feel there is value out there.
@Andrew Carter Add me to your list also.
@Justin S. Will do! What are you looking for (single family, condos, apartment buildings, etc)?
@Andrew Carter All of the above. My portfolio is very spread out between houses, apartments, and commercial, so I am familiar with everything.
@Justin S. Good deal! I have you on my list!
I am hoping to add three properties this next year. I am working on getting my financing set up to purchase a duplex at the beginning of the year. I am not near as adventurous as some of you. :) I am in the Des Moines area.
Maybe..right now I own 23 rental units and wanted something to help accumulate cash faster so I decided to focus on flips. Probably will try to stockpile cash from flips in '14 and '15 and then decide the next step. Possible scenerio:
- Continue to flip and convert every 3rd or 4th flip into a rental to hold for at least 1 year and then possibly sale to cash out or do a 1031 xchange into a long term buy and hold.
Also at some point at the end of '15 consider doing RE fulltime.
@Rebecca Olson To keep with my fairly conservative numbers I'm looking to add at least 4 SFH properties cash flowing $300 a month. My overall goal is to have 40 SFH by the time I turn 40. At that point if I buy them right I could retire from everything but real estate management. 4 houses a year is easy and I'd love to exceed these numbers but it will be mostly spare time and sub contracting rehabs until I retire completely.
My Goal for 2015 is to learn as much I can so I can do this full time in REI plus to retire. Goal is to retire on Sept 30 2015, help me reach my Goal ^_^
I have the very modest goal of buying at least one new rental property. I figure if I can get at least one per year, I'll be doing good in the long run. But I'm one to set modest goals then try to beat them, so if I may do much more than that.
I like the idea of doing a flip to build up more cash for rental properties. That's probably something I'll look into more this next year as well.
@Andrew Carter , you can add me to your list as well. You'll meet your goal in no time at this rate.
My goals for 2015:
-I will purchase 6 or more rental units (single family or multi-family) by the end of the year.
-I will network with many local investors to help grow each-others business.
-Learn more and grow my passion for real estate!
Please add me to your list as well @Andrew Carter .
Hope you all had a wonderful Halloween weekend! Anyone dress up? Here is a picture of my family. Fraggle Rock!
Austin Davis, Gold Door Real Estate | [email protected]
Good luck to everyone on their 2015 goals.
@Andrew Carter please add me to your list.
Thanks @Jose Efren Orozco I've added you to my list.
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