My 2020 Real Estate Investing Goals

My 2020 Real Estate Investing Goals

CT · Member since 2018 · 50 posts · 27 votes

2019 was a year of initial action for myself as it pertains to my REI. Up until this year I've been saving money, viewing tons of properties, analyzing tons of deals, but finally was able to purchase my first buy and hold in 2019.

I've got this broken down into SMART goals, but I wanted to share my 2020 investing goals at a high level. I am big on accountability and having a support system:

-By EOY I will add at least 2 multifamily properties to my portfolio. I will live in 1 to house hack and will purchase another as a straight rental

-I will learn best practices on how to identify distressed properties and what the best marketing strategies are to turn those into deals. 

- I will learn automation and delegation best practices. I work full-time so I need to make sure my business can scale and will continue running while I am at my 8am-5pm job, until I am making enough passive income to invest in RE full-time. I need to make sure my time is focused on the right things.

I am very process oriented so my # 1 action item is finding a mentor to help develop a framework for goals 2 and 3. I am meeting with a local investor next week to start building a relationship and am eager to see what becomes of it. 

Wishing everyone a prosperous 2020!!!!

Pat

Fort Myers, Cape Coral, Lehigh, Naples, Florida

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  • Bilal WilliamsPro Member
    Member since 2019 · 20 posts · 7 votes
    6y

    @Pasquale Zingarella

    Thanks for starting this thread. Starting my REI journey towards the end of 2019, I have been reading, listening to audio books, podcasts, and you tube videos. Joined BP as an actionable task. I have been evaluating my own personal finances and ensuring I maintain a good to excellent credit score. Currently working on decreasing my income to debt ratio.

    By EOY I will own 2 multifamily units consisting of a combination of a duplex or quadplex. I currently reside in a SFH that I purchased in 2017, which I unfortunately don't have much equity in as of yet. My goal is to put processes in place to truly treat my investing as a business and not a hobby. My first goal is to work on generating leads and analyzing deals so that I can be more comfortable with putting in an offer when the time comes. This year will not be a year of analysis paralysis. I also work full time, but am determined to block out time in my schedule to work on my business. Wishing everyone a prosperous year as well!!

  • Flipper/Rehabber · Fort Myers FL - Austin, TX · Member since 2016 · 28 posts · 16 votes
    6y

    @Pasquale Zingarella Congrats on your first Buy and Hold! Best of Luck on your 2020 Goals!

  • CT · Member since 2018 · 50 posts · 27 votes
    6y

    Thanks @Cliff Terry!!! 

  • Investor · New York City, NY · Member since 2016 · 155 posts · 105 votes
    6y

    Congrats @Pasquale Zingarella!!  Great job with your goals.  I read mine every morning:)

  • Investor · Fort Myers, FL · Member since 2012 · 462 posts · 200 votes
    6y

    Great Job! @Pasquale Zingarella. Best of luck in 2020!

  • Rental Property Investor · Cape Coral, FL · Member since 2012 · 427 posts · 186 votes
    6y

    @Pasquale Zingarella love it brother! 2020 is your year!

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