How Are You Planning on Making 2015 a More Successful Year than Last?

BiggerPockets Founder · HI · Member since 2008 · 16k+ posts · 5k+ votes

I'll kick off the obligatory "what are you going to do better" post for 2015 . . . so, how are you planning on making this year a more successful one than last year?

Podcast Guest on Show #100

2 Reply

503 views

Most Popular Reply

Joel OwensBusiness Member

Moderator

Real Estate Broker · Canton, GA · Member since 2010 · 15k+ posts · 11k+ votes

11y

I have set for myself 200 million in commercial real estate transactions and 5 million commission.

Buy 2 to 3 strip centers this year from mailing to property owners. I think 2015 will be a huge year for transactions. I want to snowball that into very large recurring cash flow for myself through hands off commercial investments.

Also looking at possibly doing a fund for retail for investors to buy into who do not want anything more than a monetary and return involvement.

My goals are really big but even if I get halfway there I will consider it a win. In martial arts we are not allowed to set goals that are too easy and we know we can reach. People avoid disappointment that way by being SAFE but they also LIMIT themselves by not seeing what is truly possibly to achieve.

It's not a fail to not do 5 million in commission and hit 2.5 then to set a goal for 1 million and hit that mark 100%.

Podcast Guest on Show #47

NNN Invest53 Reviews

Website View Page

18 Reply

See this reply in the discussion

177 Replies

Jump to latestLatest

Sort by

Chris Soignier
Real Estate Broker · North Richland Hills, TX · Member since 2013 · 1k+ posts · 607 votes
11y
I just started investing in 2014, and have 2 pending MF deals plus another prospective one that should make 2015 much, much better.
Last year was dedicated to learning. I invested in a successful MF property, and wasted a lot of time (and a little money) pursuing SF homes. I'm now focused exclusively on MF for now, though I'm contemplating investing in secured lending via my IRA funds.
2 Reply
Mehran K.
Investor · Wichita Falls, TX · Member since 2010 · 3k+ posts · 603 votes
11y
I'm shifting my focus a bit from just my personal deals & goals over to helping many of my partners achieve their goals this year. I believe this will will make for a solid 2015 for everyone I work with.
I'm also considering selling my primary residence to pay off my HELOC, free up a ton of more capital to invest with, and reduce my monthly expenditures significantly. With my goal to leave my w-2, be mobile & traveling, and focus more on REI, this might be a step in the right direction!
4 Reply
Brie SchmidtBusiness Member
Moderator
Real Estate Broker · Chicago, IL · Member since 2013 · 6k+ posts · 5k+ votes
11y
- I would like buy 10 properties in Q1 and have them ramped up so my husband can leave his job in Q2
- I need to work at fine tuning my time management and find a good way to balance the two businesses I own/run now to make room for a possible third.
- I have 9 months to get everything running smoothly and efficiently so I can take off Q4 2015 to travel
Podcast Guest on Show #132
Second City Real Estate4.821 Reviews
Website View Page
7 Reply
Anthony Armstrong
Involved In Real Estate · Mc Kinney, TX · Member since 2014 · 48 posts · 8 votes
11y
My 2015 marks the beginning of a new RE career. I've obtained my license in Texas, and I have plans to use that to learn where the deals are for REI purposes. I want to flip one home in the first six months of the year, then buy one as a rental in the final six, at a minimum.
I know I have a lot to learn, but I know that if I'm fully immersed in real estate, I give myself the best possibility of success!
2 Reply
Mark UpdegraffBusiness Member
Real Estate Broker · Rochester, NY · Member since 2010 · 1k+ posts · 713 votes
11y
Spending more time on Bigger Pockets
Podcast Guest on Show #112
Updegraff Group Realty4.742 Reviews
Website View Page
4 Reply
Account Closed
Homeowner · Memphis, TN · Member since 2013 · 3 posts · 7 votes
11y
I will have my first investment property this year!
4 Reply
Joe Moore
Rental Property Investor · Los Angeles, CA · Member since 2010 · 804 posts · 230 votes
11y
My goals is to buy at least 6 more properties this year. Also I will get more out of BP and therefore able to give more back.
2 Reply
Brandon Hicks
Investor · Avilla, IN · Member since 2013 · 796 posts · 769 votes
11y
Add a ton of units! Closed on a duplex purchase yesterday and I'm closing a 12 unit deal next Thursday!
5 Reply
Rocky V.
Rental Property Investor · Arlington, TX · Member since 2012 · 788 posts · 640 votes
11y
In order of importance:
*Work less
*Spend more time with family and friends
*Get to 35 SFH rentals (5 more in 2015)
*Surpass my flips from 2014 by profits not number of units
3 Reply
Karen MargraveBusiness Member
Moderator
Realtor, General Contractor, and Developer · Redding, CA · Member since 2009 · 7k+ posts · 4k+ votes
11y
@Joel Owens I am in awe!! Hallelujah!!!
@Will Barnard sounds like a great plan. We like land development, just in the wrong location for it! Are you thinking about splitting a parcel into 4 or less, or doing subdivisions, etc.? I wish you were closer to us. As for your internet business, what will it be?
@Mehran K. that sounds interesting.
Everyone else, it will be exciting to see your REI careers unfolding. I will tell you without fail, those that network regularly and participate on BP, go to meetups, ask questions and are willing to learn, are the ones you will see with the greatest success stories on BP!
2 Reply
Arlan Potter
Investor/Accountant/Builder · Meno, OK · Member since 2014 · 1k+ posts · 918 votes
11y
I plan on taking more vacations.
In 2014 we bought 6 SFR's and a 32 unit Apartment deal. That is a 50% increase in total units for our business. I think we will coast a little and let that settle in.
Of course, we won't stop looking for deals.
0 Reply
Will BarnardPro Member
Moderator
Developer · Santa Clarita, CA · Member since 2008 · 15k+ posts · 10k+ votes
11y
Actually the opposite, I am focused on finding one to four lots together and convert to one lot to build multifamily town home/apartment units here in So Cal. My internet business has been going for the past few years (real estate based) and the plan is to take it big this year after lots of beta testing, trial and error, and finding the right path.
Podcast Guest on Show #130
0 Reply
Thomas Ingram
Homeowner · Harriman, TN · Member since 2013 · 12 posts · 6 votes
11y
This year I hope to take first steps more quickly and with more boldness. I hope to live closer to this quote by Bruce Lee:
To Hell with circumstances. I create opportunities.
3 Reply
Joe Fairless
Investor · Cincinnati, OH · Member since 2013 · 2k+ posts · 1k+ votes
11y
@Joshua D. doing my 1st development deal. In fact, sent over a contract to seller for a deal I've been working on evaluating for a long time.
1 Reply
Guy M.
Flipper/Rehabber · Williamsburg, VA · Member since 2008 · 144 posts · 105 votes
11y
This year, Lord willing...
- pray more
- focus more on being a better father and husband
- get promoted to MSG so I can funnel more funds towards REI before retirement
- lose at least 30 lbs.
- begin wholesaling for capital
- acquire four or more rental properties
- earn an income of $20k or more
I think every one of these points contribute to better REI.
2 Reply
Peter Skobic
Lender · Watertown, NY · Member since 2014 · 37 posts · 11 votes
11y
As a newbie, my goal is to buy three houses this year. That's not counting the one that I just bought in the afternoon hours of December 31st, 2014 hehe! Maybe I should have waited a few hours and made my new year's resolution easier to achieve.
4 Reply
Kris Patel
Investor · Arroyo Grande, CA · Member since 2012 · 23 posts · 8 votes
11y
Just clear up my bad investments in Tenant In Common TIC's where all 25 investor has to agree. May loose 3 properties, total worth 110 million,due to economy, bad management etc . Hope do not have to pay too much recapture taxes. Will be happy to wrap it up!!!
1 Reply
Joe Moore
Rental Property Investor · Los Angeles, CA · Member since 2010 · 804 posts · 230 votes
11y
Things are looking up at BP. Some of the BiggerPockets' members are venturing into a brave new world. "Go big or go home!" That is how we roll.
1 Reply
Mark Gagner
Residential Real Estate Broker · Campbell, CA · Member since 2013 · 38 posts · 29 votes
11y
One of my major goals for 2015 is to improve my overall visibility within the local investor community. This includes several strategies: 1. Begin to use my email marketing account to communicate twice/month to my network of agents, wholesalers, cash buyers and other flippers (I use iContact database). I will share useful information, as well as keep my network updated on our successes in the market. I also plan to reach out to my local REIAs and offer to do presentations for their members. Along the same lines, I want to begin participating on podcasts from influential people in our industry (like BP). Joe Fairless just interviewed me on his "Best RE Advice Ever" podcast and I loved it. These marketing efforts are meant to increase my visibility in my local market and should help me find more deals thru the people I meet and influence. I will also begin consistently blogging on my website (1/week) to share my knowledge and improve organic search results (SEO). Last, I will start to actively participate in BP forums:)
1 Reply
Pedro Germosen
Providence, RI · Member since 2015 · 3 posts · 0 votes
11y
Originally posted by @Peter Skobic:

As a newbie, my goal is to buy three houses this year. That's not counting the one that I just bought in the afternoon hours of December 31st, 2014 hehe! Maybe I should have waited a few hours and made my new year's resolution easier to achieve.
Hi, I would like to know what loan will I have to get in order to start my own house flipping business? I am currently trying to do this on my own and I am looking for a large loan that will give me enough funds to start my business off to the right start. I would appreciate the help. Thank you
0 Reply
Kevin T.
Real Estate Investor · Soddy Daisy, TN · Member since 2014 · 4 posts · 0 votes
11y
Greetings one and all! My intentions this year are very straightforward. I've been reading a very good book about purchasing apartment complexes versus owning a multitude of single family properties for rental endeavors. I intend to purchase a commercial property in the next few months. I began looking into one property that had 27 units, however it ended up being an extended stay hotel rather than an apartment complex. I was very weary of the purchase because the owner had no rent roll and also had no available financials for review. I hear so much about wholesaling, so I think I'd like to give that a try. I'm not positive that is the route that I want to pursue first. I currently only own one rental property that is a single-family home. Personally, I think it would be better to have a commercial property vs a bunch of small single family homes based upon what I'm reading even though I intend to use a property management company to assist in the tenants and toilets situation. I look forward to reaching my goals this year through education and the assistance of so many professionals here. Let's make 2015 the "kiss your day job goodbye" year.
0 Reply
Mike Richter
Investor · San Angelo, TX · Member since 2014 · 27 posts · 5 votes
11y
Absolutely! By taking my goals and working backwards, I know I'll need to acquire 4 SFRs and an 8+ unit multi-family this year. Also, I've got to get the RE license by the end of January to really get cooking.

By working together and adding value, we can make this the best year yet!
1 Reply
Peter Skobic
Lender · Watertown, NY · Member since 2014 · 37 posts · 11 votes
11y
Pedro, I don't actually flip houses. I've only done hard money loans for people who flip. The best advice I could possibly give you is to start your brainstorming at J Scott's website: www.123flip.com Along with his books, it is in my opinion the best resource out there on this topic. Best of luck and feel free to message me if you have any questions.
0 Reply
Shayla Fletcher
Residential Real Estate Broker · Pineville, LA · Member since 2014 · 44 posts · 23 votes
11y
I will take our business to the next level by automating the management. I will start a website and look to hiring a bookkeeper as well. I am so excited for 2015! It's amazing to look back at this time last year and know that we rocked our 2014 goals.
0 Reply
Daniel I.
Investor · Los Angeles, CA · Member since 2014 · 180 posts · 72 votes
11y
After discovering the world of REI last year, I plan to take actionable steps to obtain my first rental property. I also would like to set monthly budgets for myself to help direct more income towards investments.
So thankful for BP and its members!
1 Reply

Join the conversationCreate a free account to reply, vote on answers and follow this thread.