2015 Goals (Especially interested in Iowa Investors)

25 Replies

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.

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.

Andrew,

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.

@Andrew Carter put me on your list, I'd be interested to see what you can come up with :).

@Thomas Fosnaugh   your goals are similar to ours. We're about 25% there, too. I'd love 200/door! That's a great goal. Right now, we're sitting around 150/door. 

@tyler 

@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.

@Tyler Smiarowski  I'm just getting started with mailing out Yellow Letters to people in preforeclosure.

@Account Closed  Got you on my list!

Right now I have 93 properties on my list for Linn County. Mostly single family homes.

@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.

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.  

@Joe Fairless  

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.

Great discussion!

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!

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