@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.
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