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

General Landlording & Rental Properties
4yFollow

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
23Reply
200 views

Most Popular Reply

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
See this reply in the discussion

53 Replies

Jump to latestLatest
  • John UnderwoodPro Member
    Investor · Greer, SC · Member since 2014 · 13k+ posts · 17k+ votes
    4y
    Originally posted by @Abigail Pusey:

    @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.

     Yes I own properties in Spartanburg and Greenville. 

    I chose these areas because they are in my backyard.

    Most of my properties were purchased via county property lien sales.

    2Reply
  • Carter Fleck
    Real Estate Consultant · Virginia Beach, VA · Member since 2022 · 26 posts · 22 votes
    4y

    @Christof Gardet --  Congratulations!  The Virginia Beach market is an amazing place to be.  We have a real estate investment company and are based out of the Beach.  Would love to connect!  Let us know if we can help you in any way with connections, contractors, or any other way since it seems you are based out of Richmond.

    Blessings

    2Reply
  • Carter Fleck
    Real Estate Consultant · Virginia Beach, VA · Member since 2022 · 26 posts · 22 votes
    4y

    Great question, Alicia.  

    We launched our company in July of 2021, so we are extremely excited to hone in specifically on vision and scaling!  Some ways we are doing that is we are creating systems to streamline analysis, lead generation, and property management.  Our goal right now is to get our ducks in a row so that when we grow it will be sustainable and life-giving, rather than chaotic. One thing we are especially doing is doubling down on our vision.  As it is said, "Without vision, the people perish".  I am a firm believer that vision is what will drive you towards the relationships you want to be in and the places you want to go.  

    Good luck and a peaceful and prosperous 2022 to everyone!

    1Reply
  • Tristan Gardner
    Rental Property Investor · Mansfield, OH · Member since 2021 · 129 posts · 89 votes
    4y

    I've added a stopwatch to the desktop of my computer to:

    1. 1. Set a goal of how long I want to spend on a task/project.
    2. 2. Track the actual time I spent.

    I believe this will help keep me on task and provide some insight on the actual time spent vs. the estimation. 

      1Reply
    1. Alicia MarksPro Member
      OP
      Fort Worth, TX · Member since 2020 · 1k+ posts · 2k+ votes
      4y
      Quote from @Alvaro Leis:

      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.


       That is frustrating! Are there any that can be refinanced to pull cash out? You could also look at hard money loans to get into the property, the refi into a regular loan once it's rented. Partnerships may also be an option.

      [email protected]Podcast Guest on Show #204
      0Reply
    2. Alicia MarksPro Member
      OP
      Fort Worth, TX · Member since 2020 · 1k+ posts · 2k+ votes
      4y
      Quote from @Tristan Gardner:

      I've added a stopwatch to the desktop of my computer to:

      1. 1. Set a goal of how long I want to spend on a task/project.
      2. 2. Track the actual time I spent.

      I believe this will help keep me on task and provide some insight on the actual time spent vs. the estimation. 


         I do the promodoro technique to stay on track as well. Time sucks can really affect your productivity. For those of us that are "a little ADD", setting up systems to stay on task is absolutely necessary. 

        [email protected]Podcast Guest on Show #204
        1Reply
      1. Amanda Bruneau
        Real Estate Agent · Providence, RI · Member since 2020 · 41 posts · 29 votes
        4y

        Real Estate Goals for 2022:

        1. Buy two properties this year, one strictly an investment and the other an AirBnB. 

        2. Do weekly planning every Sunday for the upcoming week and forecasting for the following weeks. Including EVERYTHING, work, family, exercise, meal planning

        3. Attend monthly meetings for RI investment group.

        1Reply
      2. Jayson Cain
        Lender · Manhattan Beach, CA · Member since 2017 · 423 posts · 268 votes
        4y

        Love this topic and +1 for having accountability partners. For 2022:

        • Help 100x Real Estate Investors get another deal added to their portfolio as a lending partner
        • Add 10x more STR Units to my personal portfolio
        • Acquire a 4-plex in Los Angeles County to house hack

        Looking to connect with fellow investors, agents, lenders, and brokers.

        2Reply
      3. Account Closed
        Specialist · Pinellas Park, FL · Member since 2022 · 2 posts · 0 votes
        4y

        Hello everyone! I am newbie here in BiggerPocket. And, I am looking to get connected to real estate professionals to build connections and earn new things. Thanks!

        1Reply
      4. Malik Simpson
        Member since 2022 · 1 post · 2 votes
        4y

        My goal is to save my first $25k and learn as much as I possibly can about Real Estate Investing!

        #excited

        2Reply
      5. Joey Swetich
        Member since 2019 · 1 post · 2 votes
        4y

        I'm actually just starting on my real estate journey- I'm currently listening to podcasts, reading books, skimming the forums and analyzing deals like a madman. My goal is to close on my first multi-family home/ apartment complex/ multiple single-family homes during Q2 (or Q1 if possible). I'm shopping for mortgage lenders and real estate agents now, with intent to buy in the Dallas-Fort Worth metroplex.

        2Reply
      6. Ed Tamayo
        Investor · Sugar Hill, GA · Member since 2014 · 168 posts · 97 votes
        4y

        I am going to standardize my syndication investments.  In the past. I have a done a couple of ad-hoc syndication deals  where I took money to invest on distressed assets.  I am now going write up more generic Terms & Conditions, Agreements and the like to expand the circle of investors. 

        0Reply
      7. Charles T GrimesPro Member
        Member since 2022 · 10 posts · 8 votes
        4y

        Simple!

        Step 1) Learn how to invest in Real Estate!

        Step 2) Invest in Real Estate!

        Step 3) Expand my portfolio!

        Step 4) Never again trade my precious time for money in a 9-5.

        0Reply
      8. Jessica Pearl
        Investor · FL · Member since 2021 · 15 posts · 6 votes
        4y

        My goal is to get out of my analysis paralysis on which market is best and just go for it. Want to buy at least one duplex and one other property this year. Have my pre-qual letter and will be looking at some properties next week. Goal for this year's properties is cash flow.  I'm surrounded by very risk averse people who are uncomfortable with real estate, with one exception, so it has been difficult at times to get going on my own.

        1Reply
      9. Cody Maheu
        Member since 2021 · 45 posts · 18 votes
        4y

        Just started getting back into RE investing, we bought our first duplex in October and about to close on our next property at the end of this month. Our goal is to buy 2-3 more MFH this year.

        A few steps that we are going to try to implement to achieve this will be:

        • Pay ourselves first! We will start re-investing our cash flow every month into a 3 -month lockup at 12% using crypto stablecoins.
        • More meetups, more forums, more deals!
        • Start to look at creative ways to finance properties.
          0Reply
        • Dave Van HornPro Member
          Fund Manager · Wayne, PA · Member since 2009 · 1k+ posts · 1k+ votes
          4y

          We're excited for 2022 with a lot of scaling opportunities in both Notes and Real Estate! Have some interesting partnerships in the works that I think are really going to take our business to the next level.

          In terms of planning and process, we took a note from Dan Sullivan the author of "Who Not How" and "the Gap and the Gain", utilizing his idea of the impact filter - which is really a tool to help organize and rank your goals and projects based on their desired outcomes.

          This has improved our decision making so much already and I'm excited to see the results of the process down the road.

          Podcast Guest on Show #273
          0Reply
        • Jay Altman
          Afton, VA · Member since 2022 · 1 post · 1 vote
          4y
          I am just getting started, finally, and have acquired a 15 acre property near Cherokee NC. It is my goal to have the first of several planned vacation cabins completed on the property by the end of the first quarter of this year. I will be offering these cabins for mainly short term rental by the end of spring 2022. I have building plans and designs that I believe will be attractive to all visitors, and plan to make at least one of them fully handicapped accessible. My property is a mountain site with its lower border along a nice creek at about 3300 feet elevation, and the top of the property is at 3900 feet with lots of great vistas and cabin sites.
          1Reply
        • Danielle PerryPro Member
          Investor · Alpharetta, GA · Member since 2014 · 15 posts · 3 votes
          4y

          2022

          Our goals this year is to rise like a phoenix from the ashes. We've successfully flipped 25 SFHs and accidentally BRRRR'd/house hacked two SFH– (we did it before we knew it was a thing). However, during the pandemic our CORE 4 has been wiped out for various reasons – no one died thankfully– but everyone we worked with pivoted to something else. So, we have to rebuild our teams, increase our flipping goal (we're just really fast and good at it) and add BRRRR and AIRBNB to our portfolio (which is a little more patience process required).

          Our goals:

          1. Build a new CORE 4 in GA, NC, Rochester, NY area
          2. Analyze every deal that’s sent to us
          3. Make at least 1 offer a week
          4. We have one AIRBNB in NC – renovating now!
          5. 2 Flips this year in GA; one in Rochester area
          6. 2 BRRRs - one in GA/one duplex in Rochester area
          7. We need investor friendly RE agents, Lender/Private money, Property Mgr., Handyman and REI's interested in JV/partnerships
          8. Spend 20-30 min daily on BP making connections, getting fired up and learning new stuff
          9. We’re also bi-lingual – English/Spanish and want to help our fellow bilingual investors!
          0Reply
        • Desirae Price
          Wholesaler · Houston, TX · Member since 2021 · 7 posts · 7 votes
          4y

          Hey BP!

          This year, I am looking to attack the wholesaling market here in Houston, TX! I sent out my first direct mail campaign, received back one call - and hoping to get more. I will sent out campaigns monthly to build up momentum.

          My goal this year is to do 5 deals! 

          Cheers to 2022! 

          1Reply
        • Patrick Eldridge
          Member since 2022 · 46 posts · 65 votes
          4y

          My wife and I plan to double the 16 units we acquired in 2021 by using the brrrr method. We did all the renovations ourselves. At one point we were closing on 6 properties back to back! We also just started our own home inspection/contracting business and my wife is almost a realtor as well! 
          We are excited too see what we can accomplish in 2022

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

          @Danielle Perry

          I'm a new investor from Georgia, I'm also bilingual! Would love the advice and maybe achieve something! It seems like you guys have a ton of experience.

          0Reply
        • Kris Bucci
          Developer · Victoria, BC · Member since 2018 · 115 posts · 73 votes
          4y

          Where do I start 😁 I think the biggest big picture goals I have for 2022 is two fold.. 

          1st to take better care of myself and family, both in health, fitness and quality time.

          2nd is to hire, delegate and create systems to make the 1st goal a reality.

          In 2021 we worked are butt off to set ourselves up to explode and be extremely successful in REI. In 2022, those opportunities will start paying dividends, but the key is to ensure we are set up to enjoy those dividends with those you care about.

          0Reply
        • Suresh Kannan
          Investor · El Dorado Hills, CA · Member since 2016 · 75 posts · 24 votes
          4y

          Hello @Alicia Marks, Great post and very affirming to see everyone's goals for 2022. Got started in RE in 2021 got 5 doors. Eventual goal is to reach 10K passive income in 2 yrs(2023). Targeting to acquire at least 25 units with 200/door in cashflow in 2022.

          0Reply
        • Mark Cruse
          Investor · Fort Washington, MD · Member since 2014 · 1k+ posts · 1k+ votes
          4y

          I´m repositioning my portfolio by selling off my class E properties and acquiring C or B. I would like a multi unit. Also, I will utilize the rest of my VA loan to acquire something in DC. I have a flip in Edgewood Md that has been riddled with issues thus far. That will move off my plate this year. Aside from that, I will just monitor the performance of my Airbnbs.

          0Reply
        • John M.
          Investor · Fairfax, VA · Member since 2015 · 1k+ posts · 801 votes
          4y

          Continue to automate rent payments via ACH.  In fact it will be a requirement as part of all future leases that tenants have to pay this way.  I don't have time to chase/deposit checks

          Continue to network with other NNN Lease investors to learn and possibly partner on deals. Possibly syndicate with the right partner. May consider other type of investments to help scale.

          Build out my network of brokers to assist with searching for properties

          Build out my network of local banks to help with financing

          Figure out best accounting software to automate PNL for multiple LLCs.  

          Make more offers!

          0Reply
        Join the conversationCreate a free account to reply, vote on answers and follow this thread.
        Log InJoin for Free