QOTW: What systems or steps are you planning for 2022?

General Landlording & Rental Properties
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QOTW: What systems or steps are you planning for 2022?

Alicia MarksPro Member
Fort Worth, TX · Member since 2020 · 1k+ posts · 2k+ votes

Welcome to the new year BiggerPockets Community! Many of us have already begun to plan and assess how to improve our businesses for 2022. Some of us, myself included, are still in the process of setting those goals. 

I thought this would be a great time to share how each of us are improving our systems or how you are planning for 2022. We can get inspired, learn from each other, and find people with similar goals to help hold each other accountable.

I'm excited to see the success we will all have in 2022!

[email protected]Podcast Guest on Show #204
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Alexander M Dant
Investor · Middle Tennesse · Member since 2019 · 37 posts · 54 votes
4y

We just finished our goal board with a year goal of hitting 10k/month in cash flow and broke it down into 12 week goals. Currently at $1,700/month cash flow so a BIG jump for us to make but it's time to grow so wish us luck! 

Here's what our board looks like for our first 12 week goal, let me know what I should add/subtract!

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  • Teresa Nelle
    Real Estate Agent · Maui, HI · Member since 2019 · 35 posts · 18 votes
    4y

    Aloha,

    Nice to meet you! I would be interested in joining some meet ups - I am assuming there are some ongoing on zoom? My goal is to be more involved in the community.

    Mahalo,

    Teresa

    5Reply
  • John UnderwoodPro Member
    Investor · Greer, SC · Member since 2014 · 13k+ posts · 17k+ votes
    4y

    I'm hoping my RE midas touch continues for 2022.

    I have 5 more deals already locked in so far.  This year is already a success if I only get these properties fixed up and rented, but I know many more opportunities will come along.

    Excited to see what else I run across as the year progresses.

    9Reply
  • Teresa Nelle
    Real Estate Agent · Maui, HI · Member since 2019 · 35 posts · 18 votes
    4y

    Excellent way to begin the year! Way to go!

    0Reply
  • Kolby Franklin
    Member since 2021 · 2 posts · 10 votes
    4y

    Hello,

    A couple of the goals my wife and I have planned are to save 15k more than what we have currently have and purchase our first REI property by the end of 2022! We're new to this group and have really been inspired thus far!

    9Reply
  • Alexander M Dant
    Investor · Middle Tennesse · Member since 2019 · 37 posts · 54 votes
    4y

    We just finished our goal board with a year goal of hitting 10k/month in cash flow and broke it down into 12 week goals. Currently at $1,700/month cash flow so a BIG jump for us to make but it's time to grow so wish us luck! 

    Here's what our board looks like for our first 12 week goal, let me know what I should add/subtract!

    23Reply
  • Todor Ialamov
    Real Estate Agent · Burlington MA · Member since 2018 · 114 posts · 142 votes
    4y

    @Alicia Marks

    I am planning on selling a few older assets and 1031 exchange them to larger buildings.

    Did 4 last year and a half. What a great way to expand your portfolio with no out of pocket money.

    My other goal is also to do 5 BRRRR Deals.

    Lastly, want to invest all my agent commissions into 3-4 family properties and live of the cash flow of my portfolio.

    Very excited for the New Year!

    5Reply
  • Alicia MarksPro Member
    OP
    Fort Worth, TX · Member since 2020 · 1k+ posts · 2k+ votes
    4y
    Originally posted by @Teresa Nelle:

    Aloha,

    Nice to meet you! I would be interested in joining some meet ups - I am assuming there are some ongoing on zoom? My goal is to be more involved in the community.

    Mahalo,

    Teresa

    Hi Teresa! We have local forums that would be great for you to find your local meetups. Let me know if you need help finding it!

    [email protected]Podcast Guest on Show #204
    0Reply
  • Billy Daniel
    Rental Property Investor · Russellville, AR · Member since 2014 · 688 posts · 509 votes
    4y

    1. Buying first multi-family property

    2. Getting my RE license

    3. Buying first commercial property

    3Reply
  • Shiloh LundahlPro Member
    Rental Property Investor · Gilbert, AZ · Member since 2016 · 3k+ posts · 4k+ votes
    4y

    @Alicia Marks as far as systems go, we are going to use Ninety which is really the EOS (Entrepreneurial Operating System) from the book Traction.  We are bringing on a new partner who specializes in systems in order to help us scale strategically.  We are super excited.

    480-206-1209Podcast Guest on Show #287
    5Reply
  • Teresa Nelle
    Real Estate Agent · Maui, HI · Member since 2019 · 35 posts · 18 votes
    4y

    Aloha! Yes please where do I find them?

    Teresa

    0Reply
  • Alvaro Leis
    Member since 2019 · 22 posts · 7 votes
    4y

    We closed on our third property last November, but now we are too leveraged and I can't think of a way to keep growing the portfolio. Our goal is one single family per year.

    3Reply
  • Heidi Kenefick
    Rental Property Investor · Hartford, CT · Member since 2017 · 168 posts · 163 votes
    4y

    @Alicia Marks

    My goal is to buy 2 properties this year. One in the first quarter and one in the third. Already put in 2 offers this week (didn’t win either) and going for the third offer on Wednesday. Inventory is low but I’m mentally prepared to keep making offers!

    For the third quarter I’m on a wait list with a turn key company in TN. I’ll need to save up for the down payment after acquiring one rental now, so my goal is to set aside money each month specifically for that.

    Cheer to everyone making big moves. Can’t wait to reach that level!

    4Reply
  • Eric Morel
    Member since 2021 · 98 posts · 53 votes
    4y

    Looking to establish a short-term process to add a few units to our nonexistent portfolio LOL I have a 6 mos plan to have my credit and save another 8-12k to ensure we can add at leas1 1-2 doors to our portfolio. I am continuing studying the best way to find deals. I am also determining if BRRRR will be part of our LTR strategy. Any success will be more then we had in 2021. No properties equate to no success.

    5Reply
  • Michael E.Pro Member
    New to Real Estate · Saginaw, MI · Member since 2021 · 99 posts · 115 votes
    4y

    These are the systems I plan to put in place this year. No particular order.

    1. Create a step-by-step system to find and analyze on market deals. Then train my new deal finder (my wife) to do it.

    2. Pick and start using a CRM for a networking and cash provider database.

    3. Create a weekly routine to manage/govern my investing activities/tasks. Less time on stocks and more time on real estate.

    4. Start a BP focused meetup in my area, as a system for networking. "Local" REIA meetings are a 1-2 hour drive.

    5. Document the process of onboarding a property with my PM. Know what documents they need and have them ahead of time.

    Thanks @Alicia Marks for the great QOTW. I'm sure there will be a lot of great info posted!

    3Reply
  • Account Closed
    Rental Property Investor · Gilbert, AZ · Member since 2022 · 9 posts · 6 votes
    4y

    Biggest goal for the first half this year is to build out my team to help with my investment properties. I want to have a solid team put together so we can hit the ground running come July 1st. I'd also like to have backups for certain team members, mainly maintenance.

    Second half of this year's goal is to close on 1 multifamily dwelling, specifically tri or quadruplex.

    Stretch goal is to BRRRR one property, or at least make it through the BRR portion.

    1Reply
  • Nicolas Sanhueza
    Member since 2020 · 16 posts · 3 votes
    4y

    Going in for my second year as a RE investor! I am hyped! my goal for this year is to buy at least 5 doors of small multifamily so could something like a duplex and a triplex. Also to Network with other investors from my area (I live in Willow Grove, PA, close to philly)

    cheers!

    1Reply
  • Kathiuska Ramirez
    Member since 2019 · 17 posts · 7 votes
    4y

    I am in the process of BRRing my first property.  This was one of my goals in 2021, but its coming into fruition in 2022...YAY!  My goals in 2022 is to purchase and buy and hold 5 triplex multifamily properties by 12/31/2022 with the intent of BRRing all 5, another goal is to partner with another master mind investor and scale my business.  2022 is going to be full of abundance, love and success!

    4Reply
  • Alicia MarksPro Member
    OP
    Fort Worth, TX · Member since 2020 · 1k+ posts · 2k+ votes
    4y
    Originally posted by @Shiloh Lundahl:

    @Alicia Marks as far as systems go, we are going to use Ninety which is really the EOS (Entrepreneurial Operating System) from the book Traction.  We are bringing on a new partner who specializes in systems in order to help us scale strategically.  We are super excited.

     EOS is great for efficiency. I'm excited to hear how you implement this into the coming year! Make sure you post the progress along the way!

    [email protected]Podcast Guest on Show #204
    0Reply
  • Alicia MarksPro Member
    OP
    Fort Worth, TX · Member since 2020 · 1k+ posts · 2k+ votes
    4y
    Originally posted by @Teresa Nelle:

    Aloha! Yes please where do I find them?

    Teresa

     I'm not seeing one specific to Maui, but here is the Hawaii page: https://www.biggerpockets.com/...

    If you click on Browse forums and scroll down to local, each state has a few sub markets listed.

    [email protected]Podcast Guest on Show #204
    1Reply
  • Christof Gardet
    Richmond, VA · Member since 2016 · 25 posts · 10 votes
    4y

    I'm currently making moves to get approved on a loan for a multifamily house in Virginia Beach area. Looking to do some research into property managers in that area so I can expand my small business! Also looking at the possibility into taking some money out of my current investments to continue rolling the snowball!  

    3Reply
  • Teresa Nelle
    Real Estate Agent · Maui, HI · Member since 2019 · 35 posts · 18 votes
    4y

    Thank you!

    1Reply
  • Bradley Rieger
    Rental Property Investor · Medford, NJ · Member since 2018 · 41 posts · 18 votes
    4y

    Hi everyone,

    This year I am looking to network and utilize this site more to grow my portfolio 

    My goals this year is to purchase 2 properties, my next house hack and a local college rental property 

    Good luck to all!

    1Reply
  • Tim NicholasPro Member
    Rental Property Investor · Lake Charles, LA · Member since 2017 · 49 posts · 38 votes
    4y

    I am currently working on 14.5k monthly CF by 08/22 by doing a cash out refi on 4 SFRs, an a 11 unit, complete rehab on a 4 unit and 2 sfrs. I am at 8.3k now w/40 units and a couple of lots. Increase cash reserves 50k. Test market the air bnb space with some of my current units also buy a couple mobile homes to put on the lots. That should just about do it.

    2Reply
  • Abigail Pusey
    New to Real Estate · Hilton Head Island, SC · Member since 2018 · 13 posts · 4 votes
    4y

    @John Underwood

    Hey John, I see Greer is between Spartanburg and Greenville. Do you invest in either of those cities or do you stick to your hometown? I’m just getting started (I’m based out of Hilton Head) and would like to know if you’d be willing to share how exactly you 1) decided on a farm area/target market 2) what those reasons were, and 3) what kind of systems did you use to collect and store this data for research? This is about where I am in the process and want to feel more confident about properties as I analyze them.

    2Reply
  • Caleb Brown
    Real Estate Agent · Kansas City · Member since 2018 · 4k+ posts · 3k+ votes
    4y

    For the agent side of things....Double closings and volume. Added an agent to help with offers, viewing properties and sourcing deals. Also adding touch plan and other ways to keep in touch with clients along with educating them. 

    For investing myself....Buy 1 property per quarter. Partner with my parents for accountability and scale. Save and systematically buy deals. 

    2Reply
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