Life goals + how REI will get you there

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Life goals + how REI will get you there

Jon Q.
Investor · Berkeley, CA · Member since 2015 · 1k+ posts · 713 votes

Most successful investors understand the importance of visualization and setting definite goals.

Let's celebrate successes and have a discussion about long-term goals and what specially REI will help provide for you.

I'll start.  My goal 14 years ago was to generate sufficient income to quite my day job, invest full time and travel the world.  Second, I want to acquire a 4br / $1-2M home in Berkeley, CA, where I currently reside.  I also want to acquire land and put in prefab housing in a few scenic locations (Mendocino, Kauai, Alaska), mostly because of how much I enjoy being in nature and backpacking.

I achieved my goal of becoming financially independent at age 33.  I'm now working on the second and third goals.  Over the last two years, I've enjoyed backpacking trips to the Grand Canyon (7 days), Jasper and Banf (Canada 10 days), and I've got a few more planned for November of this year with a trip to New Zealand planned  slated for 2017.

Please describe your future life.

What are your life goals?

What are your successes?

How will REI get you there?

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Most Popular Reply

Brian BurkePro Member
Investor · Santa Rosa, CA · Member since 2012 · 2k+ posts · 7k+ votes
4y
Quote from @Ryan Leake:

Brian,

We couldn't be more on the same page with your life goals when you set out and where I'm at now.

Curious to hear - how did your real estate investment strategy start and has it changed since you posted this reply in 2016?

Also, any luck with that condo on Kaanapalo Beach?? 

@Brian Burke 

Wow, Ryan…I don’t even remember posting that so thanks for the trip down memory lane. Reading that again kinda gives me chills because here I am six years later and checked every box.  I guess there is something to setting goals if you want to achieve them!  Even though I wrote this here and never revisited it.

I did upgrade the plane two years ago.  Great decision because not only is it a lot more capable but I bought right at the beginning of Covid, and since then prices took off so it’s worth more than I paid. Got the oceanfront condo on Ka’anapali beach five years ago and that was another great decision because now I live on Maui about 25% of the year and run my business from under a beach umbrella with the ocean only a few feet away.  I just don’t set my laptop on the sand because occasionally a larger wave comes up.  First-world problem.

I hit my real estate goal, too, buying about 4,500 units over the last 5 years.  One thing that played out differently than my post from 6 years ago was that I didn’t wait ten years to start selling. I’ve sold about 3,000 of the units already, many for nearly double what I paid, so there was no reason to wait. 

One goal that wasn’t even on this list also came to fruition—I co-founded a real estate lending company 5 years ago and then loaned over $1.5 billion to other real estate investors and now we’re selling the company to a public company. Didn’t see that one coming but sometimes when life presents you with an incredible opportunity, you seize the day.

Another one I didn’t foresee was writing a book—but BP published The Hands-Off Investor two years ago and I’ve received a lot of really great feedback from so many people who got a lot out of it. 

Now that I accomplished all my goals (and then some) I guess it’s time to come up with new goals.  I suppose some good ones might be to get better at golf, fly the airplane more (maybe to some golf trips?), maybe upgrade the plane again.  Business goals?  I don’t really have any at the moment. I’m going to watch what happens in the world and be ready to act when I see the right opportunity, in whatever form that might take. With all of the volatility, I’m not feeling rushed to act, nor am I seeing very compelling deals…but that could change next week, for all I know. 

Podcast Guest on Show The Truth About Real Estate Investing in 2024 (What Investors NEED to Know)
4Reply
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  • Jon Q.
    OP
    Investor · Berkeley, CA · Member since 2015 · 1k+ posts · 713 votes
    10y

    So there are so many salmon, that you're just scooping them up in a net?  Yes, that's what most of North America used to be like before us Americans' ruined it.

    So, you're investing in Wasilla?  Are all the houses built up on stilts to prevent curious polar bear inspections?  What are the predominant industries?  What is driving population and job growth? 

    0Reply
  • Jon Q.
    OP
    Investor · Berkeley, CA · Member since 2015 · 1k+ posts · 713 votes
    10y
    Originally posted by @Yanis P.:
      Hello BP Community ,
    I have couple goals and some of theme I  reached.
    Real Estate Goals :
    -I am new to RE, and my new goal is   to get as much cash flow as possible by doing direct marketing to get deals, than wholesale some of it and to keep some as " subject to", when I've got this done good enough I want to switch to triple net properties and buy tax leans.
     
    Educational goals:
    - In next 6 month I want to learn English enough to not be  shy post  my messages :))

    -1 year  Learn Spanish so I can communicate.

    Life goals:

    - Reached:   

    - self employed for last 5 years ( I came to US 9 years ago with 500$ in my pocket) Trucking company

    - 800+ credit score 

    - bought nice Mercedes ( reached 5 years ago) ( I know many people will drive that old car and invest and hope they will reach it later, but it's not my philosophy)

    - Move to downtown Chicago  (  lived on 41 floor )  reached 5 years ago-->

    -Move to my favorite state of California close to the ocean --> San Diego, Torrey Hills ( just moved  2 weeks ago and super Happy)

    - 6 month work/ 6 month do what ever I want : usually sport ( freediving/ spearfishing, rock climbing, mma, dirt bike) self education+ travel ( 48 states + Maui  visited), reading books, playing chess.

    - Do not focusing on money to much,  I don't want to miss my life now

    - live with dreams reached now or in near future, without waiting when I would be 60 and can afford anything

    - In progress:

    - be healthy, and never stop education

    - find same minded friends who like to be educated , sport interests and passion with RE. 

    - buy what ever me and my wife wants

    - travel any time we want

    - rise capital enough to buy dream house ~3m

    - buy 82' boat ~2m

    - rise kids and give them the best education as possible (not just prestigious but education that gives knowledges)

    Yanis,  Thanks for sharing.

    You didn't mention your how you got there...What real estate do you investing in? Where? 

    Thanks,

    jon.

    0Reply
  • Yanis P.
    Steger, IL · Member since 2016 · 57 posts · 13 votes
    10y

    My bad, I am new to post messages, Please open at the beginning of my reply "Hello BP Community.." that has a grey color   

     I don't know how to edit it, but will try

    ---->

    -

    0Reply
  • Suzy Thompson
    Real Estate Investor · Anchorage, AK · Member since 2016 · 27 posts · 6 votes
    10y

    I am just starting out in real estate investing.  We had planned on doing it as a side business until we could afford to quit our full time jobs.  However I was laid off at the end of July so am doing this full time.  My goal is to continue learning all aspects of this business so I don't have to have any other type of income.  Any advise is welcome.  My focus is flipping but will have to use hard money to get going.  

    Great pictures and goals.  You all are inspiring!  

    1Reply
  • Jon Q.
    OP
    Investor · Berkeley, CA · Member since 2015 · 1k+ posts · 713 votes
    10y
    Originally posted by @Suzy Thompson:

    I am just starting out in real estate investing.  We had planned on doing it as a side business until we could afford to quit our full time jobs.  However I was laid off at the end of July so am doing this full time.  My goal is to continue learning all aspects of this business so I don't have to have any other type of income.  Any advise is welcome.  My focus is flipping but will have to use hard money to get going.  

    Great pictures and goals.  You all are inspiring!  

    If you do not already have experience flipping property, I would say that flipping property is not the best real estate activity to get started with. It is not investing. It is making money through transactions. It is also very risky and not for beginners. Its for people who have experience and deep pockets. Beginners are better off starting with buy and hold SFR or condo.

    0Reply
  • Ryan Leake
    Property Manager · Austin, TX · Member since 2021 · 88 posts · 72 votes
    4y
    Quote from @Brian Burke:
    Originally posted by @Jon Q.:

    @Brian Burke Is acquiring a plane still on your list?  Any accomplishments and/or other life goals you're willing to share?

    The plane was on my list but I checked that box 10 years ago. Although I must admit I'm thinking about an upgrade...

    My life goals when I set out were fairly simple. I wanted financial security, to not have to get up at the crack of dawn nor work graveyards ever again, have a career where I didn't have to change clothes when I got home, to take vacations whenever and as often as I want, not have a commute longer that ten minutes, and to have all of that while building a business for myself and not for someone else. And I wanted to really enjoy what I was doing.  

    I checked those boxes too, but since have created new ones. A condo on Kaanapali Beach is my biggest one...time to start thinking of spending more island time.

    There is a trade-off though.  In exchange for these lifestyle benefits, I had to give some up.  Some people want to avoid taking risks, want to be able to completely "unplug" after they leave the office, don't want to be responsible for other people's money, don't want the livelihood of others to be dependent on them...but I accept these in exchange for satisfying my needs list. 

    My real estate goals are to buy 4-6 properties a year. Each would be 150 to 300 units so 600-1,000 units/year. Maybe do that for ten more years (then spend the next ten years selling), unless of course that asset class stops making sense and a strategy shift materializes...

    Brian,

    We couldn't be more on the same page with your life goals when you set out and where I'm at now.

    Curious to hear - how did your real estate investment strategy start and has it changed since you posted this reply in 2016?

    Also, any luck with that condo on Kaanapalo Beach?? 

    @Brian Burke 

    0Reply
  • Brian BurkePro Member
    Investor · Santa Rosa, CA · Member since 2012 · 2k+ posts · 7k+ votes
    4y
    Quote from @Ryan Leake:

    Brian,

    We couldn't be more on the same page with your life goals when you set out and where I'm at now.

    Curious to hear - how did your real estate investment strategy start and has it changed since you posted this reply in 2016?

    Also, any luck with that condo on Kaanapalo Beach?? 

    @Brian Burke 

    Wow, Ryan…I don’t even remember posting that so thanks for the trip down memory lane. Reading that again kinda gives me chills because here I am six years later and checked every box.  I guess there is something to setting goals if you want to achieve them!  Even though I wrote this here and never revisited it.

    I did upgrade the plane two years ago.  Great decision because not only is it a lot more capable but I bought right at the beginning of Covid, and since then prices took off so it’s worth more than I paid. Got the oceanfront condo on Ka’anapali beach five years ago and that was another great decision because now I live on Maui about 25% of the year and run my business from under a beach umbrella with the ocean only a few feet away.  I just don’t set my laptop on the sand because occasionally a larger wave comes up.  First-world problem.

    I hit my real estate goal, too, buying about 4,500 units over the last 5 years.  One thing that played out differently than my post from 6 years ago was that I didn’t wait ten years to start selling. I’ve sold about 3,000 of the units already, many for nearly double what I paid, so there was no reason to wait. 

    One goal that wasn’t even on this list also came to fruition—I co-founded a real estate lending company 5 years ago and then loaned over $1.5 billion to other real estate investors and now we’re selling the company to a public company. Didn’t see that one coming but sometimes when life presents you with an incredible opportunity, you seize the day.

    Another one I didn’t foresee was writing a book—but BP published The Hands-Off Investor two years ago and I’ve received a lot of really great feedback from so many people who got a lot out of it. 

    Now that I accomplished all my goals (and then some) I guess it’s time to come up with new goals.  I suppose some good ones might be to get better at golf, fly the airplane more (maybe to some golf trips?), maybe upgrade the plane again.  Business goals?  I don’t really have any at the moment. I’m going to watch what happens in the world and be ready to act when I see the right opportunity, in whatever form that might take. With all of the volatility, I’m not feeling rushed to act, nor am I seeing very compelling deals…but that could change next week, for all I know. 

    Podcast Guest on Show The Truth About Real Estate Investing in 2024 (What Investors NEED to Know)
    4Reply
  • Ryan Leake
    Property Manager · Austin, TX · Member since 2021 · 88 posts · 72 votes
    4y
    Quote from @Brian Burke:
    Quote from @Ryan Leake:

    Brian,

    We couldn't be more on the same page with your life goals when you set out and where I'm at now.

    Curious to hear - how did your real estate investment strategy start and has it changed since you posted this reply in 2016?

    Also, any luck with that condo on Kaanapalo Beach?? 

    @Brian Burke 

    Wow, Ryan…I don’t even remember posting that so thanks for the trip down memory lane. Reading that again kinda gives me chills because here I am six years later and checked every box.  I guess there is something to setting goals if you want to achieve them!  Even though I wrote this here and never revisited it.

    I did upgrade the plane two years ago.  Great decision because not only is it a lot more capable but I bought right at the beginning of Covid, and since then prices took off so it’s worth more than I paid. Got the oceanfront condo on Ka’anapali beach five years ago and that was another great decision because now I live on Maui about 25% of the year and run my business from under a beach umbrella with the ocean only a few feet away.  I just don’t set my laptop on the sand because occasionally a larger wave comes up.  First-world problem.

    I hit my real estate goal, too, buying about 4,500 units over the last 5 years.  One thing that played out differently than my post from 6 years ago was that I didn’t wait ten years to start selling. I’ve sold about 3,000 of the units already, many for nearly double what I paid, so there was no reason to wait. 

    One goal that wasn’t even on this list also came to fruition—I co-founded a real estate lending company 5 years ago and then loaned over $1.5 billion to other real estate investors and now we’re selling the company to a public company. Didn’t see that one coming but sometimes when life presents you with an incredible opportunity, you seize the day.

    Another one I didn’t foresee was writing a book—but BP published The Hands-Off Investor two years ago and I’ve received a lot of really great feedback from so many people who got a lot out of it. 

    Now that I accomplished all my goals (and then some) I guess it’s time to come up with new goals.  I suppose some good ones might be to get better at golf, fly the airplane more (maybe to some golf trips?), maybe upgrade the plane again.  Business goals?  I don’t really have any at the moment. I’m going to watch what happens in the world and be ready to act when I see the right opportunity, in whatever form that might take. With all of the volatility, I’m not feeling rushed to act, nor am I seeing very compelling deals…but that could change next week, for all I know. 

    I'm glad we uncovered this gem! It's amazing to hear all of the goals you've accomplished and how you continue to create bigger ones to go after. Congrats on all of your successes. Would be fun to try to check in on this again a couple years down the line and see where we're both at!

    On your new goal list, love seeing golf on there. There are some incredible courses to check out in Maui - I played is Wailea Golf Club Gold Course recently and had a blast. Definitely worth the trip to the south side of the island. Also see that you're based out of Santa Rosa. My local golf course is StoneTree Golf Club in Novato. Let me know if you'd like to join me for a round next time you're in the area. My treat.

    1Reply
  • Jon Q.
    OP
    Investor · Berkeley, CA · Member since 2015 · 1k+ posts · 713 votes
    4y
    Quote from @Brandon Schlichter:

    500 units.

    Don't care how long it takes me, NROI they bring in (Although the higher the better) neighborhood, mfd/sfd mix, etc. I just want 500, as if I fail that goal and still 'only' hit 250 units, I'll still be pretty darn successful. 

    Why?

    Many people have 500 units.  Some make money, others are losing money.  Having units isn’t the point.  It’s what the cash flow or wealth that you can create would provide you.


    0Reply
  • Brandon Schlichter
    Real Estate Agent · Circleville, OH · Member since 2008 · 633 posts · 488 votes
    4y
    Quote from @Jon Q.:
    Quote from @Brandon Schlichter:

    500 units.

    Don't care how long it takes me, NROI they bring in (Although the higher the better) neighborhood, mfd/sfd mix, etc. I just want 500, as if I fail that goal and still 'only' hit 250 units, I'll still be pretty darn successful. 

    Why?

    Many people have 500 units.  Some make money, others are losing money.  Having units isn’t the point.  It’s what the cash flow or wealth that you can create would provide you.



     At the time of said posting I was doing about $300/mo in cashflow per unit. 

    Today I have about 3x the units (130+) but have been moving to larger deals. I guess I could have expressed the $300 * 500 units = $150k/mo cashflow number better, oh well. 

    $150k/mo is now too low, I want $1m/mo, and that scale looks very different.

    0Reply
  • Jon Q.
    OP
    Investor · Berkeley, CA · Member since 2015 · 1k+ posts · 713 votes
    4y
    Quote from @Brandon Schlichter:
    Quote from @Jon Q.:
    Quote from @Brandon Schlichter:

    500 units.

    Don't care how long it takes me, NROI they bring in (Although the higher the better) neighborhood, mfd/sfd mix, etc. I just want 500, as if I fail that goal and still 'only' hit 250 units, I'll still be pretty darn successful. 

    Why?

    Many people have 500 units.  Some make money, others are losing money.  Having units isn’t the point.  It’s what the cash flow or wealth that you can create would provide you.



     At the time of said posting I was doing about $300/mo in cashflow per unit. 

    Today I have about 3x the units (130+) but have been moving to larger deals. I guess I could have expressed the $300 * 500 units = $150k/mo cashflow number better, oh well. 

    $150k/mo is now too low, I want $1m/mo, and that scale looks very different.

    Why?
    0Reply
  • Jon Q.
    OP
    Investor · Berkeley, CA · Member since 2015 · 1k+ posts · 713 votes
    4y
    Quote from @Brian Burke:
    Quote from @Ryan Leake:

    Brian,

    We couldn't be more on the same page with your life goals when you set out and where I'm at now.

    Curious to hear - how did your real estate investment strategy start and has it changed since you posted this reply in 2016?

    Also, any luck with that condo on Kaanapalo Beach?? 

    @Brian Burke 

    Wow, Ryan…I don’t even remember posting that so thanks for the trip down memory lane. Reading that again kinda gives me chills because here I am six years later and checked every box.  I guess there is something to setting goals if you want to achieve them!  Even though I wrote this here and never revisited it.

    I did upgrade the plane two years ago.  Great decision because not only is it a lot more capable but I bought right at the beginning of Covid, and since then prices took off so it’s worth more than I paid. Got the oceanfront condo on Ka’anapali beach five years ago and that was another great decision because now I live on Maui about 25% of the year and run my business from under a beach umbrella with the ocean only a few feet away.  I just don’t set my laptop on the sand because occasionally a larger wave comes up.  First-world problem.

    I hit my real estate goal, too, buying about 4,500 units over the last 5 years.  One thing that played out differently than my post from 6 years ago was that I didn’t wait ten years to start selling. I’ve sold about 3,000 of the units already, many for nearly double what I paid, so there was no reason to wait. 

    One goal that wasn’t even on this list also came to fruition—I co-founded a real estate lending company 5 years ago and then loaned over $1.5 billion to other real estate investors and now we’re selling the company to a public company. Didn’t see that one coming but sometimes when life presents you with an incredible opportunity, you seize the day.

    Another one I didn’t foresee was writing a book—but BP published The Hands-Off Investor two years ago and I’ve received a lot of really great feedback from so many people who got a lot out of it. 

    Now that I accomplished all my goals (and then some) I guess it’s time to come up with new goals.  I suppose some good ones might be to get better at golf, fly the airplane more (maybe to some golf trips?), maybe upgrade the plane again.  Business goals?  I don’t really have any at the moment. I’m going to watch what happens in the world and be ready to act when I see the right opportunity, in whatever form that might take. With all of the volatility, I’m not feeling rushed to act, nor am I seeing very compelling deals…but that could change next week, for all I know. 


    Brian,

    Great to hear from you!

    All your progress is impressive. Keep it up! I'm expecting buying opportunities in early 2023.

    I've got lots of other flying buddies and fly quite a bit.  One of my friends, also an entrepreneur that owns several businesses, is currently rehabbing a plane.  Usually we take off from Reid-Hillview Airport (south west San Jose).  Do you ever fly down here?  If so, lets meet up!

    Here are some shots from my flight last Sunday:

    1Reply
  • Brian BurkePro Member
    Investor · Santa Rosa, CA · Member since 2012 · 2k+ posts · 7k+ votes
    4y

    Looks like fun, @Jon Q.!  I've flown into Reid Hillview a couple of times.  Cool pictures!

    Podcast Guest on Show The Truth About Real Estate Investing in 2024 (What Investors NEED to Know)
    1Reply
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