Skip to content
×
PRO
Pro Members Get Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
$0
TODAY
$69.00/month when billed monthly.
$32.50/month when billed annually.
7 day free trial. Cancel anytime
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
Goals, Business Plans & Entities
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated almost 2 years ago,

Account Closed
  • Senior Marketing Manager, Memberships
  • Denver, CO
276
Votes |
48
Posts

šŸ‘‰Boldest real estate goal you ever set and how you achieved it!?

Account Closed
  • Senior Marketing Manager, Memberships
  • Denver, CO
Posted

In honor of the annual Intention Journal Sale (25% off starting today!) -- What's the boldest real estate goal you ever set for yourself? Tell us what your goal was, the steps you took to achieve it, how long you worked at it, and what the outcome was! 

I'll go first: 

1. Goal: To get my first investment property before my 26th birthday. I set the goal 3 months before my birthday.  

2. Steps: Read Long Distance Real Estate Investing. I was living in California at the time. I scoured Zillow for a property that was cash flow positive from day 1. Found a $310K triplex in Louisville, KY. Added up all the numbers (mortgage, taxes, insurance, utilities, capex, maintenance, etc.) in my Excel sheet and found that it would cash flow. Used the investor-friendly agent finder and matched with @Rob Bergeron! Went under contract with an offer for $300K. Did a virtual walk through with a local inspector, no major issues but got some seller concessions for minor repairs. 

3. Outcome:
Closed 1 month before my birthday. Appraised for $310K so automatically made $10K at closing. Flew out to the property after closing and made cosmetic updates on all 3 units within 3-4 months (new paint, tile, etc.). Increased rents, increased property value. Current PITI is $1945 and rental income is $3250. Amazing tenants.

This was in September 2021. In the following months, we added 8 more cash flowing units in Lousiville, KY. Setting goals with hard deadlines + defined steps is so powerful! If you need some goal-setting inspiration, I highly recommend The Intention Journal by Brandon Turner. 

šŸ‘‡What's your boldest goal?šŸ‘‡

Loading replies...