@Katie Miller this year is my BIG YEAR ! I am selling my Current company (insurance agency) set to close in less than 4 weeks!! It has been my main and primary source of income for 8 years. I have built up a nice portfolio of 31 SFR properties that cash flow well, we just sold and close on a flip ($60k net!!!) in the next 2-3 weeks , next flip has started and a new build spec on the way and continuing to buy SFR properties to get rent roll gross over $50k but this year is the first year real estate is my only business focus! Can't wait to see the growth and numbers at the end of the year !! Projections are great so have to put them to action !
I’m interested in the owners manuals you mentioned, can you tell me a little more about what you’re referring to? If I missed the boat on this one please let me know 😂
Do 12 deals in 2020 (I did 4 in 2018 and 6 in 2019). That can be a combo of flips/BRRRRs.
Acquire 20 more buy and hold units. I figure I want my income to increase by $2,000 so conservatively I’ll get there at $100/door. If we keep adding passive income at this rate we will be FF by age 37.
Send 625 mailers per week. (Or 2500/month) Based on past direct mail performance, I could get a deal per 2500 pieces. So based on the above goal of 1 deal a month, I arrived at this goal.
My goal is to stop buying properties! I started investing in real estate five years ago and now have nine SFRs. I told my wife I would stop at two houses back in 2015. Lol. But have had too much fun doing this and keep snagging more rentals each year. I told her owning ten props was my ultimate goal, but she keeps saying NO MORE! So I’m going to try real hard to stop and find another hobby or something. Haha!
Buying our first property!!! Took action last night and contacted two realtors in a market that I might be interested in. Still debating between property type/strategy. We live close to Galveston TX which has a STR market as well as a SFH rental market that seems to be more affordable than alot of the Houston area.
@Katie Miller Hi!! My partner and I are chasing this portfolio of 13 duplexes. They're in the path of progress in our city and would be a huge win for us. I contacted the listing agent and he told me they were off the market. My partner contacted the owner directly on his cell and he's willing to hear us out! Looking forward to spending more time with my kids and going to volunteer at my sons school (book fairs, kiddie plays, etc.) when financial freedom finally hits... AND ITS GONNA HIT BIG 🙏🏾🙏🏾🙏🏾
Find a good mentor (or two). Learn as much as I can as I prepare to make my first deal.
Multi family is overpriced. I don't think this is going to be a stellar year for acquisitions. I am looking for opportunities, without very defined goals.
While my goals aren't as lofty as others on here, but I will hopefully get there. I went to college and obtained a BBA in Construction Management but for the last 11 years I have worked for a major wireless carrier in multiple roles of high responsibility. December 2018, my family had property that was up for sale for 30k. When I told them I was interested, they sold it to me via a seller buyer payment plan executed via a contract. I have taken a year of pouring my own money into it reno+mortgage payment and I just want to get a tenant that will start to generate revenue. I should be complete by next week and have a tenant if possible by February 1st. It's been a long journey, and I have certainly learned a lot about building a team, costs of goods, timelines, etc. My goal is to get another property by December 2020. I plan to do this by looking at land bank properties such as Memphis, Tn... do the rehab work and place a tenant in it or resale. Just wanted to explain my small goals and I wish everyone well in obtaining their success.
My goal for 2020 is to learn what option is best for me to get started.
I live in California and am NOT a high income earner.
I don't have much capital to get started, so not sure what direction I should take.
Multi-family units appeal to me, I just don't know if they're realistic with my minimal resources.
@Katie Miller im a newbie at the moment in my “accumulation phase” I call it gaining knowledge and capital I’m working a decent hourly paying job saving as much as possible (I’m literally eating rice, beans, and chicken everyday) I’ve watched countless Brandon turner podcasts I’m not into books too much but I’m getting rich dad poor dad soon because it has been mentioned so much even on other podcasts I listen to so
my goals would be to read and finish rich dad poor dad and to read more books in general goal 2 would be to develop a full scale frugal lifestyle until I reach where I would be comfortable financially goal 3 would be to get into my first multi family property before fall of this year goal 4 is to be on my way saving to either buy my 2nd property or have the 1st fully renovated. Life doesn’t go perfectly planned and sorry for the long winded post with no punctuation 😂 I’m on lunch and have to get back to work soon
We hope to find out how to find and analyze opportunities outside the MLS
20 doors 7 years
1) Double current SFR portfolio from 25 to 50 units
2) Achieve $500k in annualized gross rental income
3) Net Operating Income > 65% of gross rent
4) Maintain ROA > 20% and ROE > 50%
5) Increase network and private investor pool
My wife and I have a goal to begin building our own quadplex and house hack it. We are going to build four seperate homes on the same property and live in one of them with our four children. Ready for the kicker? Everything will be built out of storage containers. Our house will be made of 9 containers (2800 sq ft) and three rentals will all have identical floor plans made of 3 containers each (-1000 sq ft). Our biggest obstacle thus far is finding a lender who will finance shipping container construction. The rental income will pay for mortage and insurances. My wife and I will continues working to pay this property off quickly. We want to use Robert Kyosaki's method in using OPM. 2020 will be the year we finally get this project rolling. Wish us luck! We also wish everyone else a successful year in being bold and making things happen!
In 2020 I will do my first flip and purchase 2 more income properties.
We bought our first investment property in December 2017, the numbers were awesome but the building was old and the tenants weren't my cup of tea. Since then I have been managing around 40 units for a couple of people I know and now I know that newer properties with better tenants are more my style.
I've been planning to list the 4-plex in January (now) for the last few months but I saw a post from an ambitious new real estate investor on Facebook who was looking for an off-market deal. We got under contract on the 9th and are closing at the beginning of February. My goal for the proceeds was to do a 1031 Exchange into a new construction townhouse triplex in Idaho Falls. These were supposed to be done by now but probably won't be ready until the end of March. The income from the triplex will be a little bit less/month than the 4-plex but because it's brand new the expenditures and maintenance will be less.
My office has been working with a developer for about a year to launch a townhouse PUD in Rigby. I've got my husband talked into buying two townhomes that will be done this summer... (let's be realistic, it will probably be Fall since its still dirt...)
I also am going to dip my toes into the Short-Term Rental sand. If it goes well with one of the new construction townhomes in my Idaho Falls triplex then I will do short term in one of the Rigby units and long-term in the other.
..And looking for one more townhouse to round out the end of 2020.
Happy 2020 to Ya'll!
How are you? I hope your New Year is off to a great start.
My real estate goal is to have two multi families units this year. Also I would like to invest $20k in a short term loan to help with cost.
Thanks, for asking
@Katie Miller I’ve almost completed one of the biggest goals I had set for 2020 but here the goals that I have set out for myself.
1.) Double my purchasing from the prior year “the stack”
2.) Raise $250k from accredited investors (almost completed!!!)
3.) Be a MENTEE for anything but would prefer mindset. Does anyone wanna mentor me??
4.) Be a MENTOR for 1 RE beginner.
Great answers on this string!
Hello Katie!! My name is Francis Nasser I’m 22 years old and for this 2020 i’m aiming to have my first flipping deal by March 15!! It’s important to set specific goals so that I have something to look forward to every day. I’ve been putting it off for about a year now but it’s time to become active. Wish me luck, and If you have any helpful advice i’d really appreciate it!
Target to clear all land approvals for my beachfront hotel project with overwater bures near capital city of Suva, Fiji Islands and start building in fourth quarter 2020.
My big goal is to take action and buy 1 cash flowing rental property.
My goal is to buy my first investment property in 2020. I am looking to invest in the Indianapolis market, or do a house hack in Westchester County (NY).
I have been part of the BP community for the last couple of months which helped me gain some knowledge about RE investing.
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