Are you on track for your 2021 goals?!
BiggerPockets,
I asked this question to the REI military community; I know I'm curious what others have done to take action!
I wanted to take some time and reflect on how powerful setting a goal can be. I started this year with a straightforward goal to acquire my third investment property and broke up my yearly goal into quarters as a milestone to keep myself accountable and focused. At my current savings rate (I'm averaging 67%), I will have met and surpassed my 2021 goal by August. Recently the tenants in my Louisiana property expressed interest in purchasing the property we wanted to sell. After talking to the real estate agent, also a veteran and awesome, the buyers accepted the asking price and are pending appraisal. The home is forecasted to close by the end of March. It will provide the needed capital to fully exit that market and purchase two new properties in a much better market to springboard generational wealth building.
I contribute most of this success to the mastermind group I joined. Having that weekly push and reinforcement has been a game-changer. Additionally, after reading Vivid Vision, I created a 10-year goal targeted at my military retirement date. Each year I will slowly (I call it the BBQ method) eat away at it, and when I hang up the uniform, I can fully retire! BTW, Episode 448 with Dion Mcneely was ever similar to how I approach REI. It was refreshing to hear others being successful with the same strategy I am currently working towards.
Turning the table, are you on track to meet your 2021 goals? Do you break up your yearly goal into quarters? How long do you plan for?
2021 Goal: Purchase third investment property; Begin saving for a fourth investment property
Q1: Save up half the funds needed for the third property
Sincerely
Josh