All Forum Posts by: Travis White

Newbie here looking for some guidelines for goal setting.

The notion of goal setting has come up in my reading here, other forums, and books on the subject. They all stress the importance of goal setting and some have examples of how to build backwards from an overall goal to a monthly goal etc. My problem is that I don't have a grasp on a reasonable range for goal setting....is $3k per month cash flow reasonable? $10k/month? $500k over a lifetime? $2M? When I start to think about where my goals might fit in or what is reasonable to expect, I get overwhelmed. So, I guess I'm looking for some guidelines to get the process started.

A little about myself to help the process. My wife and would like our investments to eventually become a full time job for her along with a $80-100k yearly income. Our current starting capital is $0, though she makes $45k/yr and I'll be making $90-110k/yr in a two years. Please don't hesitate to ask for more info on anything....I'm expecting to learn quite a bit about goal setting through picking this example apart. Hopefull, it'll be helpful to others in the same shoes too.

@Andrew N. - thanks for the heads up! That's exactly what I'm looking for.

@Jeff Weissman - thanks so much for the offer Jeff. I'm working with an agent from SF currently that is a family friend, but I'd love to keep in contact with you if that's ok too. I'm hearing what you're saying about hyper-local knowledge and I imagine there are important differences between the markets. Down the road when I'm starting to put wheels in motion, expect a message from me :)

Thanks @Paul Timmins !

Plenty to get started on :)

@Dmitriy Fomichenko

Giving it a test run. Thanks again

Thanks for the heads up about the @ tagging! I'd been wondering about that.

Hi All!

New member here from the Bay Area. My wife and I are looking to start a real estate investment business on the side. For right now we're focusing on vacuuming up as much knowledge as possible and trying to get a keen sense of the local market. With some luck and planning, we have an eye towards doing a deal on either a flip or rental within the next 12-18 months. As my knowledge base grows, I'm sure I'll be checking in with more specific questions but that a ways off for now.

BP is a tremendous resource for a couple like us looking to get up to speed, so a big thank you to BP community for what's been created here!

I've checked in with the reading list here at BP and have a few books on the way from amazon (Unofficial Guide to REI to start with), anything else I should check out specifically?

Also, any recommendations for a REIC in the East Bay/Oakland area?

Cheers!

Travis

Hi All!

New member here from the Bay Area. My wife and I are looking to start a real estate investment business on the side. For right now we're focusing on vacuuming up as much knowledge as possible and trying to get a keen sense of the local market. With some luck and planning, we have an eye towards doing a deal on either a flip or rental within the next 12-18 months. As my knowledge base grows, I'm sure I'll be checking in with more specific questions but that a ways off for now.

BP is a tremendous resource for a couple like us looking to get up to speed, so a big thank you to BP community for what's been created here!

I've checked in with the reading list here at BP and have a few books on the way from amazon (Unofficial Guide to REI to start with), anything else I should check out specifically?

Also, any recommendations for a REIC in the East Bay/Oakland area?

Cheers!

Travis