- General Manager, Publishing at BiggerPockets
- Denver, CO
- 570
- Votes |
- 409
- Posts
Tell me your BIG Real Estate Goals for 2020!
Hello friends! I'm crowd-sourcing your BIG ideas, goals, and dreams for 2020.
What do you want to do with your real estate business this year? Why?
What are you going to do this year to move toward financial freedom? Why?
If I really love your response, I may use it in an upcoming article for BiggerPockets (I'll be sure to ask your permission first, don't worry!).
Hello Katie! We are new to real estate investing but our goal is to end this year with at least 2 rental properties under our belt. With the knowledge we're getting from BiggerPockets, we know this is certainly doable!
@Katie Miller
Have 5 rental. Have passive income 1000+/m
1. Irish Jones Realty is hoping to become the number one in sales in Buffalo NY for cash flow properties. That includes singles, doubles, triples, quadruples, mixed use, and commercial.
2. Find great properties for investors, continue to build the Property Management side of our business so we can manage those properties and provide renovations, and continue to acquire properties to add to my portfolio.
@Katie Miller
I want to sell all my properties and become a rock star..
Just sayin
Greetings Katie! I am a newbie to real estate. My goals for 2020, is to gain as much knowledge, participate in discussions, meetups, be fearless, and put my self out there.
This year I am going to connect with people that can guid me in the right direction and help me achieve my dream of owning a 5+ unit apartment building. Once this dream is reached I will continue to grow and invest in more property.
What do you want to do with your real estate business this year?
At least 5 speaking engagements, build owner's manuals for at least 24 properties, refinance a 4 plex that was rehabbed
Why?
Speaking - to be known and share better preventive maintenance understanding
Owner's manual - this is a target I will have to work hard to achieve, but puts my business in the direction I want it to go
Refinance - I have 3 properties and the past year was really hard with vacancies and evictions. Refinancing will mean that I've got everything stable and am comfortable taking on the additional debt to free up some capital
What are you going to do this year to move toward financial freedom?
Speaking, contribute to articles, and cold calls to build my business making owner's manuals for apartment building owners.
Why?
This is tied to my purpose. I can help a lot of people and build a business around something I feel strongly about. Money from work I do will be able to help fund additional rental purchases.
Mine really aren't too exciting- but would love to chime in on behalf of the other newbies and people who have recently gotten started, but maybe haven't grown a ton just yet. So in the past two years I have bought two duplex and a single in Philly- they are all doing great! But it's been challenging balancing scaling my real estate business with also starting a new very demanding full time job and also giving birth to my second child this past year :)
What do you want to do with your real estate business this year? Why?
This year- after a year with only very moderate growth I really want to refocus- remember why I started doing this to begin with and figure out how I can scale the success I've had so far! My first three investments are doing great- and I have the ability to invest in more- I just need to find those deals and put in the work to get it done. 2020 will be the year to focus, and re prioritize my real estate business.
What are you going to do this year to move toward financial freedom? Why?
It's time to buy another property- honestly I'd be thrilled if by the end of the year I buy two more and extremely happy to find one good one. I am also considering for the first time taking investment money from outside sources- I've been approached by others who want a part of what I'm doing and I have hesitated partnering up on any deals because I wanted to be sure of my process first-and preferred to use my own money but I am starting to think I'd be OK partnering with an investor in 2020!
@Katie Miller I just finished my real estate classes and hope to have a duplex by May!
5 SRFs this year, new CPA, and get financing ready to do it again next year.
@Katie Miller
I'm still new and have so much to learn, but when I first started out in REI (2018), my 3-year plan was:
YEAR 1: 3-5 rentals
YEAR 2: 5-10 rentals
YEAR 3: 20 rentals
I'm humbled to report that through unbelievable support from friends and mentors, after just year 1.5, I hit 23 doors...so for 2020 I'm really challenging myself to:
7-10 more rentals
$40K invested outside of rentals
4 flips
My #1 goal for 2020 is to establish a viable, sustainable strategy for low-money down financing of future properties!
My goal for 2020 is to purchase and finish another BRRR investment property that is between 8-30 units. I just finished a 7 unit BRRR property within the last 6 months. I work a full time job currently and would love to invest in real estate full time by the end of 2020. Real estate is the best asset class and investment in the world hands down. I am biased because it is my passion/hobby/career. I honestly do not consider it work when I am doing anything to do with real estate investing and I am grateful for that.🙏🤑😃
#2 Multi-Family and Apartment Investing Contributor
- Rental Property Investor
- St. Paul, MN
- 3,617
- Votes |
- 2,963
- Posts
#2 Multi-Family and Apartment Investing Contributor
- Rental Property Investor
- St. Paul, MN
Purchase 600+ units of multifamily value add and purchase $10+mm in commercial assets, both with a focus on cash flow. Grow my coaching business to over 15 clients and grow my podcast "Pillars of Wealth Creation" to over 20,000 monthly downloads.
I'm currently working at a mortgage fund that provides hard money loans. The company is very small and I've developed a relationship with the CEO and the marketing director. They have been great mentors for me.
I'm so grateful for all of their help, I want to bring value to them and the company. I have been developing the skill of finding great deals. After I get my real estate license, I will try my best to bring them more deals, since the fund has a sister company that does commercial real estate.
If I find a really good deal, the CEO kindly offered to be partners with me. So I want to find an amazing deal and partner up with him. Which will be my 1st real estate investment deal and will give me a great experience.
I don't want to just take, take, and take, but strive to give back.
@Katie Miller To understand how to apply all these great ideas in my environment here in Africa and get our first rental property.
My Biggest goal this year is to purchase my second property, and to also NET $5,000/month. Currently I net abouth half of that, househacking but I am looking for ways to get there creatively, before the end of this year.
BIG is speculative because we all have very diverse portfolios and niches within the real estate world. Personally my BIG goal is to triple my units this year. I keep reminding myself that its not "how will I be able to do this" but it's "I will do this". Let the games begin!
@Katie Miller
Hi Katie, to obtain my first investment property before March.
Continue to learn everything about Investing in Real Estate to quit my job in two years. Create Wealth and travel more. 🙏🏽
@Katie Miller
Sell our lake property AirBNB and start paying off mortgages.
@Katie Miller
Reach a million dollar net worth by the end of the year.
Welcome Katie! I am an amateur to land. My objectives for 2020, is to pick up as a lot of information, take an interest in talks, meetups, be courageous, and put my self out there.
@Katie Miller I'm new to REI. My goal this year is to buy my first live-in duplex, as well as do my first fix & flip on a separate property.
@Katie Miller
My goal is already partially accomplished. I settled on a duplex in Philly on December 30th and I’m currently renovating one of the units. Just need to get this unit finished and rented and I’ll be satisfied. Anything else I accomplish will be icing on the cake.
What do you want to do with your real estate business this year?
-I've owned my first owner-occupied single family for @ 5 years now and was lucky to buy in at the right time to almost double my equity. Once I finish the renovations I want to HELOC and rent out that house as we have moved into a new primary residence. Ultimately I want to sell the house within 3 years to avoid the capital gains or 1031 into a large commercial property.
Why?
I've been interested in the bigger deals since I started learning and researching REI as I'd like to have a more passive portfolio that will replace and enhance my household income within the next 9 years. I am ultimately looking at long-term buy and hold investments that give me several exit opportunities later in retirement.
What are you going to do this year to move toward financial freedom?
I am currently working on a deal to add 36 units in a B/B+ area that are currently red-tagged due to terrible mismanagement and neglect by the owner. The HELOC plus some private funding already lined up would cover the rehabs and get the units rented at their maximum potential. I also have several other leads in the area since I invest locally and know the market very well. Additionally, I'd like to expand into other areas of investment such as self-storage.
Why?
The red-tagged apartments are a rare opportunity in the area that offer great potential to speed up our portfolio building and allow us more time sourcing leads/deals. The self-storage and other niches of investments would be for increased passivity once stabilized as well as more stability due to the lessened effect the market swings tend to have on them.