My 2016 plan/goals.

[Frank Lienert]

Hi all!

This is my first real post on BP and I'd like to get feedback and thoughts on my 2016 goals.

About me: early 30's, just started a new (ok paying job), new to real estate investing but have five years of experience managing a rental (see below).

By April, 2016: Buy my first home/property. I have 50% equity (via inheritance) in a SFR in a very desirable neighborhood in East Sacramento (95819). The house is owned free and clear and depending on the price I negotiate with family will cash flow.

By summer/fall 2016: Purchase a multifamily cash flowing property with my business partner/fiancé. Ideally this would be in Sacramento, but given the market we may be forced to go further afield in the Central Valley or even possibly out of state (most likely Phoenix where she's from and still has family).

I know this is likely a bit vague but I just wanted to throw it out there and get feedback on the general plan. Workable? Is two properties in a year too ambitious starting out? Are there any potential pitfalls Im missing? Any and all feedback is much appreciated!

-Frank 

[Peter Mckernan]

That's a good situation. Yeah, I'm in the same boat with a property I have been holding for a little over a year with a partner of mine. We are going to list in February and perform a 1031 exchange for a bigger property (duplex or triplex). That might be a good thought too.

I believe there are still deals out there; however, they are something you'll have to go out and literally fight for! @Frank Lienert