2020 Goals and Objectives

36 Replies

Clarity Equity Group is very goal oriented. We have quarterly and annual goals to ensure we hold ourselves accountable and have a plan of action.

  

Current Goals and Objectives:

1. Build new website

2. Trade 240 multi-family units out of our portfolio

3. Inputting new systems/procedures for operations

These are just a few. I am curious to know what other professionals are looking forward to in 2020! 

What goals and objectives do you have for yourself as an investor or sponsor?

How do you determine your goals?

What process do you have in place to follow up and check progress of said goals?



Fletcher L. Clardy III 

Deal Desk Captain

Clarity Equity Group 

My wife and I are aggressively paying down personal debt in 2020, with the goal of building our rolling capital, building a team of like minded individuals and ending the year with our first investment property purchase.

@Jeremy Lewis That sounds like a great plan. I have also been aggressively paying down my student loan debt with a plan to have all paid in 3 years. No debt more capital right? Right!

Have you and your wife determined your investment criteria? (Ticket size, Asset class, Geographies)

Originally posted by @Fletcher Clardy :

@Jeremy Lewis That sounds like a great plan. I have also been aggressively paying down my student loan debt with a plan to have all paid in 3 years. No debt more capital right? Right!

Have you and your wife determined your investment criteria? (Ticket size, Asset class, Geographies)

 Absolutely, by eliminating around $12,000 in debt we are freeing up over $1,000 a month in capital!

We have. We are looking for Duplexes for between $150,000-200,000 in B class neighborhoods in Ohio.

Hey Guys and Gals, a really cool app for tracking your goals and holding yourself accountable to your friends/family is called Habit Share - it helps you keep your daily/weekly habits on track... and it's free


Originally posted by @Fletcher Clardy :

Clarity Equity Group is very goal oriented. We have quarterly and annual goals to ensure we hold ourselves accountable and have a plan of action.

  

Current Goals and Objectives:

1. Build new website

2. Trade 240 multi-family units out of our portfolio

3. Inputting new systems/procedures for operations


What goals and objectives do you have for yourself as an investor or sponsor?

How do you determine your goals?

What process do you have in place to follow up and check progress of said goals?


 My answers 1 by 1:

1  My goals are based on financial end results...as in TOTALS for the year...which are based on needs.

2 I reverse engineer from my goals, so the goals are the starting point...not the end point

3 I designed software packages that help me plan, and follow.

Now, here's my question to you:

"What made you arrive at the three goals you stated above"

@Joe Villeneuve

1. Website (Marketing) - Based on client feedback, our current website does not adequately highlight our services and what Clarity does.  We decided to upgrade to a more sophisticated platform and we want to make sure if you visit our website you understand who we are, what we do, and what we can do for you.

2. Portfolio trade (Business Model) - Based on our business model of a 3-5 year hold, it is time to trade these two properties. We have added value and the properties have appreciated. We are preparing for the next down-turn in the market also. Our economist predict the market flattening out within 18-24 months.

3.Systems/Procedures (Operations) - Systems and processes play a significant role in our company and anyone who is building a company. They are the company's essential building blocks and support. Systems also enable employers to monitor and manage our staff and prepare them for success within the company and their role.

With quality systems in place, we can focus more on revenue generating activities rather than running around putting out small fires (employee challenges/issues). 

Originally posted by @Fletcher Clardy :

@Joe Villeneuve

1. Website (Marketing) - Based on client feedback, our current website does not adequately highlight our services and what Clarity does.  We decided to upgrade to a more sophisticated platform and we want to make sure if you visit our website you understand who we are, what we do, and what we can do for you.

2. Portfolio trade (Business Model) - Based on our business model of a 3-5 year hold, it is time to trade these two properties. We have added value and the properties have appreciated. We are preparing for the next down-turn in the market also. Our economist predict the market flattening out within 18-24 months.

3.Systems/Procedures (Operations) - Systems and processes play a significant role in our company and anyone who is building a company. They are the company's essential building blocks and support. Systems also enable employers to monitor and manage our staff and prepare them for success within the company and their role.

With quality systems in place, we can focus more on revenue generating activities rather than running around putting out small fires (employee challenges/issues). 

 Interesting.  I have the same philosophy as you do for numbers 1 and 2.  For 3, I just designed my own software based on the systems I developed, teach and use.  I don't have employees, so #3 doesn't apply to me the same way as it might for you..

@Joe Villeneuve

I like the idea of creating our own software based on the systems. Our problem is we are not sophisticated in software development. I am currently researching CRM (customer relationship management) real estate platforms that are fully integrated with Microsoft office, gmail, mail chimp etc.

Are you still using other software within the company? Or does the software you created manage all aspects of the business in one platform?


Originally posted by @Fletcher Clardy :

@Joe Villeneuve

I like the idea of creating our own software based on the systems. Our problem is we are not sophisticated in software development. I am currently researching CRM (customer relationship management) real estate platforms that are fully integrated with Microsoft office, gmail, mail chimp etc.

Are you still using other software within the company? Or does the software you created manage all aspects of the business in one platform?

I just use mine.  I did it because the available software didn't do what I needed it to do.

 

Originally posted by @Fletcher Clardy :

@Joe Villeneuve

What systems separate your software from the rest?

Is it available for other professionals? I would be interested in seeing for myself.

All the programs are designed around the way I do REI. I have one for Market Analysis, Designing and sticking with your REI Plan (based on establishing financial goals), different ones for different types of strategies, like Sandwich LO, seller financing, using uncollateralized loans like "cash like objects", establishing the investment steps along the way ahead of time in multiple scenarios. THis way, the REI can see the long term impact of each decision before they make it, and also have a proactive test for when the planned doesn't happen.

...and more.

@Fletcher Clardy

I shall do my best to help people with their homes and orchestrate my ability to teach others to become greater real estate investors

I determine my goals by my intuition and ability to become successful as well as my ability to make people amazing

Keeping track of myself everyday to improve more and more than the day before and becoming amazing as well as my partner to keep me in check and I do the same on to him. We follow up and check upon each other to make sure of our success

Originally posted by @Fletcher Clardy :

@Joe Villeneuve

That seems like a very sophisticated system that other real estate investors could use.

You should consider marketing this product. I am curious in learning more myself.

 I've had offers.  Turned them all down.  Figured if it was worth buying then, it would be worth more later.  Besides, I wasn't done with it yet.  I'm always improving it.  My creative juices are constantly sparked with each new update into the next one, and I don't want to waste the ideas, so...

You know the old saying, "Waste is a terrible thing to mind",...or something like that.  LOL

I like to make yearly goals in each area of my life but here I will share only some of my real estate goals for 2020: 

  1. Sell 19% of one of my real estate companies for 400K.
  2. Separate my business finances better by taking 250k of that money and pay off business debt from my other businesses that I have used to fund the acquisition of properties in my main real estate business.
  3. Use the other 150k to continue purchasing properties in the Triad area of North Carolina.
  4. Purchase 36 single family properties (24 in Greensboro, Winston-Salem, and High Point, and 12 in Arizona) and lease them out using the lease option strategy.
  5. Purchase a 30 pad mobile home park with 10 units already rented and an additional 20 pads available to rent out, improve advertising and double the value of the park and basically BRRRR the mobile home park.
  6. Go on the Investor Summit at Sea real estate cruise with the Real Estate Guys, Robert Helms and Russell Grey.
  7. Bring on one or two more assistants to lighten our work load and systematize our businesses better.
  8. Appear on 10 more podcasts to increase brand awareness in order to raise money for our real estate deals.
  9. Get 20 real estate coaching clients and help them acquire their first, second, or third property.
  10. Increase cash flow by another 5k this year.

Originally posted by @Fletcher Clardy :

@Joe Villeneuve

That seems like a very sophisticated system that other real estate investors could use.

You should consider marketing this product. I am curious in learning more myself.

 My goals are strictly financial, and must/can thus must/can be measurable.  How else will you know when or if you've accomplished them.  They also must be designed for a specific purpose.  They are cumulative as the end goal, and broken down into a series of Milestones, by reverse engineering from that end goal.  Think of the milestones as short term goals.  Each milestone is connected to eachother by a series of steps.  Each step has an entrance and exit and the decisions made as to how to enter each step is based on how the exit from that decision, leads directly into the next step entrance.  The decisions are specifically where/when/how to move the money through each step.

The Plan Software is only a part of the system.  There are three main software packages.  Each rely on the other two for their success.  Each have a specific reason for being there:

1  The Planning Software...as described briefly above.  It tells me when to invest.

2  The How Money Works Software, which is really an analysis tool that shows the impact of each type of strategy I might use at different places in the timeline of the Plan, and by adjusting the numbers here and there, I can see the impact each change has on the future numbers based on how, how much and when in the timeline I make the adjustments.

Market Analysis Software tells me where to invest.  It analyzes Markets to find the Micro Markets based on the strategies I might/can use and also based on the criteria dictated by the timeline.  It's rather look for a stack of needles, than look for a needle in a haystack.

What's funny is they all started out as forms, to do presentations and repetitive analysis...and over time, they grew, and grew, and...have you ever seen the movie "Little Shop of Horrors"?  LOL

@Nathan Morgan

How is the housing market in CA?

I like that you are teaching others about the beauty of rel estate investing. I have been working with clients, coaching them on making the transition from Residential investing to Commercial investing.

My clients have exhausted their investment capital from friends and family and are seeking guidance on reaching the next level by raising funds outside their inner circle to continue investing.

 

Thank you for posting this. Has made me think what I want to improve on.


2020 goals:

(Property Management Company) Increase from 75 units managed to 100 units. Write additional Property Management SOPs.

(Investments) finish funding Solo Roth 401(k) for 2019 and 2020, for myself and my wife. Find a lender who will do non recourse lending. Do first Solo 401(k) RE deal.

(Retirement) fund Roth IRA. Do smart stock market investments

(Kids) pay minor kids a W2 salary for work they do. 45% of pay in a Roth IRA for them.

(Savings) increase liquid savings.

(Health) go to gym 3 times a week.

@Ola Dantis

I have scheduled some time next week to read a few books myself. 

"Raising Capital for Real Estate, How to Establish Credibility, Attract Investors, and Fund Deals" by Hunter Thompson will be my first read.

I would like to read "Grit" also. Who is the author?

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