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?

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Joel OwensBusiness Member

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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%.

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Ron RowePro Member
Wholesaler · Columbia, MO · Member since 2014 · 27 posts · 15 votes
11y
2015 is get serious time for my new real estate business. My primary focus to achieve my goals this year is on: marketing. I am increasing my direct marketing over 10x this year. I am beginning to schedule meeting with private money lenders for my deals and have a list of 60-70 to meet and really solidify my network. I am also contacting local attorneys this month for deals with their client's problem properties. Oh and I almost forgot....and a new PRO member I look forward to giving more here in the BP forums and in the blog section to share what I am learning and what I am accomplishing as I go.
Looking forward to a great 2015 BP family! See you out there!
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Oiluj Lopez
Investor · Middlesex, NJ · Member since 2008 · 53 posts · 7 votes
11y
REI Goals
- Complete class and obtain NJ license (End of Jan)
- Read 8-10 books in 2015 (Reading 'The Millionaire Real Estate Agent' by Gary Keller now)
- Get a website up and running .. Even if just a landing page (End of Jan)
- Wholesale 10-12 properties (1 per month)
- Get back into rentals! (2 MF rental properties by the end of 2015)
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Jimmy MoncriefPro Member
Chattanooga, TN · Member since 2010 · 319 posts · 100 votes
11y
Tracking everything I do in a google doc spreadsheet.
Makes me more accountable and productive.
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Silvia Durango
Bronx, Philadelphia , New York, PA · Member since 2014 · 13 posts · 8 votes
11y
I would like to focus on getting deals that need less work this year. Tho I'm still new in Realestate investing ... Learned a whole lot with BP and already feel confident about my business growing. My focus is to fix, hold to rent for the cash flow since I don't have mortgages.
I originally joined BP to network but didn't do much of it in 2014. Before 2014 ended, I upgraded to a Pro account, I think sometimes when you pay for something, you use it more. I already made new contacts with BP 2015. Had 2 phone convos and made an appointment to meet an investor at one of my properties. It's a start and looking forward to meeting more people.
Good luck to you all with your Goals for 2015 and let's grow together!
Best,
Silvia Durango
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Vinny Gaines
Real Estate Investor · Elkridge, MD · Member since 2014 · 32 posts · 11 votes
11y
As a Newbie, for me to make 2015 more successful than last year I have to humble myself to the better knowers, and learn from them. I will get out and network more so that I can take this business of real estate investment to the levels that I desire, I will surround myself with nothing but real estate investment information, education and people.
If I had to sum it all up, 2015 will be a year of concentrated focus in this one area of business.
Thanks for posing the question, it's a question that brings forth an actual exercise.
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Ron RowePro Member
Wholesaler · Columbia, MO · Member since 2014 · 27 posts · 15 votes
11y
Hi @Jimmy Moncrief ,
Loved your podcast on pitching investors. It's actually in my cue to listen again as I approach private money folks in early 2015.
What kinds of activity will you be logging in your spreadsheets? Just curious :)
Hope you have a fantastic 2015 Jimmy!
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Lori Kendrick
Kensington, CT · Member since 2014 · 1 post · 2 votes
11y
I am beginning my real estate venture in 2015. Current actions are searching listings for a property to rehab, attending my local REIA events, and reading all I can. I am also going to utilize Bigger Pockets more than I did in 2014. I have been listening to the podcast, but will read and participate in forums and blogs in 2015.
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Lync Jones
Investor · Eagle Mountain, UT · Member since 2014 · 38 posts · 7 votes
11y
I plan on getting more involved on the forums, attending local REIA's, and making contacts with others in my area.
2 Reply
Trevor Ewen
Rental Property Investor · Weehawken, NJ · Member since 2014 · 1k+ posts · 704 votes
11y
@Joshua D.
The big thing we have changed is our household budget. We are really trying harder to monitor our spending and cost of living (as you know, it can get out of hand in NYC).
We focus our interests on our upcoming deals instead of spending and living costs. There's still never enough money for all the good deals, but that's a good problem to have.
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Christian Bors
Real Estate Agent · Mechanicsburg, PA · Member since 2014 · 529 posts · 217 votes
11y
Great Question.

I plan to focus on getting a routine down. I want to wake up early in the morning before everyone else so I can have a more productive lifestyle.

Also, I really want to focus on being more active with biggerpockets. I already have a goal to read at least one article/blog a day however I want to particapate more in the forums. It is obvious that the more I spend on this site, the more success i'll have!
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Jimmy MoncriefPro Member
Chattanooga, TN · Member since 2010 · 319 posts · 100 votes
11y
@Ron Rowe thanks for the kind comment on the podcast!
Basically the columns are just each month. I'm just putting in each row what I did "activity was"
For me it's going to be kind of a diary.
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Brandon L.
Real Estate Agent · Falls Church · Member since 2012 · 2k+ posts · 1k+ votes
11y
@Joshua D. I am going to continue building relationships, increase my knowledge, avoid distractions, and keep my motivation as high as possible.
1 Reply
Brett Brown
Metamora, IL · Member since 2014 · 10 posts · 3 votes
11y
2015 for me is going to be interesting. Not that it will all be directly interesting due to real estate dealings but I plan to leave my current, forty-hour a week job to run my business full-time. I have currently been operating part-time on the side and I'm ready this year to run full-time. If things go well, my wife and I will be able to invest in real estate, debt free at faster pace than our current plan allows. Our current goal is to have the option of retiring at 45 and living off the monthly rental cash flow (16 years away).
1 Reply
Louise DiSclafani
Rental Property Investor · Garfield, NJ · Member since 2011 · 2 posts · 1 vote
11y
Always a great question! I started an official LLC partnership with a long-time colleague. We have divided duties and now expect to close more deals as we both aren't doing the same tasks on our own!!!
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Bill Murphy
Investor · Brighton, MI · Member since 2014 · 7 posts · 4 votes
11y
I started the planning process at the end of 2014 and I am committed to making 2015 the year of the achiever!!
- Use of the invaluable tools available through social media in particular BiggerPockets, Tweeter and Facebook.
- Join a local real estate investment group to network with other investors.
- Establish a solid foundation to build a sustainable REI business
- Complete 1st deal by end of June. Purchase, Rehab and flip!!!
- Repeat above deal at least an additional 2 times by years end.
Good Luck to all!!!
2 Reply
John Baldwin
Investor · Rosharon, TX · Member since 2014 · 14 posts · 5 votes
11y
Doing our first (and hopefully subsequent) deals!
1 Reply
Kyle M.
Wayne, PA · Member since 2012 · 144 posts · 24 votes
11y
I just closed my first rental property in mid December. I am showing my first property ever tomorrow as I just finished improvements! Going to re-read those two guides tonight on tenant screening etc. to make sure I have my ducks in a row and don't overlook anything.
My goal in 2014 was to do whatever it takes to acquire a rental property that yields over $100 in cash flow. Achieved that barely within the last two weeks of the year.
I'm huge on goals and believe mindset is everything.
2015 Goals:
1. Fine Tune Criteria - Currently its properties under 1,500 square feet, under $120k, which require little maintenance upon purchase to rent out. I want invest in cheaper homes in middle to high end neighborhood with good schools.
2. Attend REI Meetings - I currently have not attended any. My goal is to attend once a month to build my network. The goal is to partner and learn from seasoned investors. I am interested in lending private money on their flips etc. I believe that this gives them a vested interest in me while building my cash to purchase my next rental.
3. Purchase My Second Rental - Find a deal better than my first and buy it.
4. Learn and fine tune landlord skills. Train tenants, stick to all rules, create systems to make life easier for me.
5. Keep a positive and aggressive mindset - I believe that the quicker that I make good decisions the faster the acquisitions will come. The faster acquisitions come the more financially free I will be.
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Crystal SmithPro Member
Moderator
Real Estate Broker · Chicago, IL · Member since 2014 · 2k+ posts · 1k+ votes
11y
Our 2015 Goals
1. Increase monthly net cash flow by $12K ($144K per year)
2. Flip and/or Wholesale income-$300K/year
3. Retail Sales Income/Commission-$200K/year
4. Increase Property Mgmt Income by $150K/year
312-681-7487
2 Reply
Andy Mirza
Lender · Ladera Ranch, CA · Member since 2014 · 1k+ posts · 1k+ votes
11y
Lead a More Balanced Life
Establish Consistent Daily Routines (and Stick to Them)
Increase the Amount of Networking I Do
Understand the Limitations My "Day Job" Places on My Real Estate Activities and Focus on What I CAN Do
1 Reply
Pedro Germosen
Providence, RI · Member since 2015 · 3 posts · 0 votes
11y
Originally posted by @Peter Skobic:

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.
Thank you Petar I appreciate the help, I will purchase the books as soon as possible.
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Sovannary O.
los angeles, CA · Member since 2014 · 15 posts · 3 votes
11y
2015 is a go year, it's a time to make things happen.
- Acquire sfh/multi at 1%
- Network with like minded peers
- Hustle, hustle, hustle
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Account Closed
New York City, NY · Member since 2014 · 11 posts · 3 votes
11y
I am going to focus exclusively on becoming an expert in using technology to help real estate investor do more deals.
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Account Closed
Investor · Kansas City, MO · Member since 2010 · 239 posts · 110 votes
11y
@Joel Owens As Donald Trump says, "I like thinking big. If you're going to be thinking anything, you might as well think big." Best of luck to you. I have no doubt that if you think big and have big goals you will have big success.
My goal for 2015 is to think big and help others do the same.
As a real estate investor, real estate broker, hard money lender, problem solver, and property manager, I wear a lot of hats in the real estate investing niche. My goal is to add one more this year, educator (in the form of problem solving training for agents and investors).
My goal includes helping other investors become successful in their real estate endeavors by using my own personal experiences to help investors mitigate risk, handle problems, and navigate the often turbulent process of real estate investing. I enjoy helping investors meet their goals and ambitions.
An additional goal I would like to reach in 2015 is participating more in BiggerPockets, and really mastering the art of BiggerPockets.
Cheers to a successful year for us all!
1 Reply
Cory Calvin
Investor · Brighton, CO · Member since 2014 · 59 posts · 5 votes
11y
This is my plan......
1 Reply
John Geldert
Rental Property Investor · East Meadow New york · Member since 2014 · 232 posts · 95 votes
11y
@Joshua D.
So after taking the advice of fellow Bp members I came up with a written business plan, "on paper on purpose". I presented it to a long time friend of mine and today we became 50/50 partners in a house flipping venture! I want to thank you for assembling this dynamic site for real estate investors. It has not only educated me but also reinvigorated me to peruse my real estate investing and path to financial freedom!
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