How have YOUR real estate goals changed since joining BP?

Question

Hello all,

I just looked at my profile and realized it's been nearly 2 years since I've joined the BP community! It's crazy how quick the time goes when you're focused on your goals.

When I first joined BP, I filled out my profile like everyone else. My "Real Estate Goals" were the following:

• -Flip properties in California
• -Buy and hold out of state 
• -Build a large portfolio of cash flowing  properties 
• -Become Financially Independent

Since acquiring my first property, educating myself through the BP forums/podcasts, reading RE books and talking with experienced investors, my goals have changed a bit. Now, my goals are to:

• Flip properties in California 
• Build my cash reserves 
• Build a large portfolio of cash flowing multi-family and single-family homes 
• Become a full-time investor and financially independent

Obviously, my goals haven't changed drastically, but I've added building cash reserves as a major goal. I've heard plenty of people say that you need cash to last in the RE game, and that is something I'm definitely focused on. Longevity is key for me.

My question for everyone out there is: How have YOUR real estate goals changed since joining BP?

Looking forward to everyone's responses and input!

-Taylor

James Masotti · Answer

It hasn't been quite 2 years since I joined BP but in that time my goals have indeed changed. Originally my goal was to acquire 20 paid off free and clear rentals.

However I would say that my goals have expanded beyond that now. I've got a fantastic partner now, but that also means I need to have twice as many properties to meet the same financial goals. I think our target is still to get something like 20-30 single family homes, but then we'll start transitioning to flips of single family homes (to pay off our debt on the single family properties more quickly) and investments in multi-family/commercial/industrial buildings.

So like you Account Closed my goals haven't changed much but have definitely expanded. It's about having the financial freedom (still not sure if I'll quit working or not) but also about being able to build something awesome and give back to people.

James Masotti · Answer

Account Closed - We just set the LLC up in May as part of our first acquisition. I have 3 others prior to this new LLC.

Our target market is Wilmington, Delaware but only specific sections of the city.

Account Closed · Answer

Hey @James Masotti,

Thanks for sharing! That's awesome you and your partner are on the same page, and working towards a common goal!

How many properties have you guys acquired at this point? What city/state(s) are you focused on?

It's definitely about the freedom and giving back. I hope to get there one day as well.

-Taylor