Why do we set goals and why do we share them with the world?
As we have shared in our previous articles, we believe goal setting is important for both new and experienced real estate investors. We have always had goals that push us to keep working and growing. We chose to share them with the world as we believe it is only fair that we show we are serious about our business and we follow our own advice.
We don’t want to be investors that suggest one thing and do the opposite. If we say you should have goals, you can be assured that we have goals. If we say this business takes work, you can be assured that we are working the business.
In the beginning your goals will be very different than ours, and as you gain success in the business your goals will evolve.
For 2012 we break our goals into 5 distinct sections.
First, we want to continue our focus on helping new real estate investors, investors that have full time jobs, and passive investors looking for alternative opportunities outside of the stock market. We focus on these groups primarily because it is where we think we can have the greatest impact. We love helping new investors pick up the challenges of real estate and make positive progress.
In addition, we feel a kinship with investors that choose to invest while holding a full time job. We both work full time and this business is not easy for folks who can’t commit to a full time schedule. Lastly, we believe that many potential real estate investors would be better served by the security of passive investments versus active investments.
Second, we would like to present at no less than six real estate events to share the message that everyone can succeed in this business if they work at it. I despise gurus, commercials, and books that try to make real estate investing look easy. The concept of real estate investing might be easy, but the business takes work and I want to be a voice of reality and down to earth experience. We believe that those who can do it work the business and grow their portfolio, while those who can’t write books and try and sell out seminars and mentor events.
We will continue to share our experience freely via BiggerPockets weekly posts while growing our portfolio.
Third, the primary reason we work so hard at this business. We have set a goal of adding $5,000 a month in positive cash flow to our portfolio by the end of 2012. This might sound like a lot and it should, as a goal should not be easily attainable. That said, we believe this goal is within our reach as we are finding and securing deals that will allow us to build to this number throughout the year. If we land a deal or two like our “Deal of the Year in 2011” we will need to raise this goal.
Fourth, as our model shows we rely on passive investors to recycle our core capital after we acquire, repair, and lease a rental property. We are targeting over $500K in new passive investor commitments in 2012. These commitments will ensure we have the flexibility to tackle all the distressed assets and recycle our personal capital quickly and efficiently.
Fifth, we want to continue growing our personal network in Fresno. We want to create a great relationship with 50+ more people in our market. After 10 years, we already have a decent relationship base but we know we can do better. Real Estate may be a fixed object but it is sold by people and the more people who respect us and know us will allow us to close difficult deals, the better chance we will get to solve problems and make some money.
In the end we see 2012 being another great year to help people, build our portfolio and meet more people in our market.
What are your goals for 2012? Write them down, share them with people and let’s get to work.