Goals - 200 Doors?

Goals - 200 Doors?

Don KonipolBusiness Member
Investor · The Woodlands TX / Avon, CT · Member since 2009 · 6k+ posts · 10k+ votes

I’m seeing a lot of goals being expressed as “200 doors”, or “ but $10million in real estate”, or worse yet “ create housing for the community”.

Why would I want to own “200 doors”?  What is each “door” was losing money?  How is it a goal to have a lot of money tied up, a large personal liability, and significant time for no return a goal?  Worse, if your goal is to provide housing for the community, you’re a community activist, not an investor.  Why confuse the two - if you’re a community activist who wants to provide housing then work with foundations that provide grants - don’t try to intertwine “doing good” with building your net worth.  The people who do the most good “win” at business, and then use a large part of their winnings for charity/public purpose.  Free market businesses do “good” by definition, they provide jobs, housing or products for the public.  There’s no need to make yourself feel superior by fooling yourself into believing that you’re somehow “better” than the “normal” business person. You’re not, you just don’t understand economics and have bought into the current socialism bs. 

By I digress (LOL), back to the “doors“.  The goal should  be $X in cash flow monthly; or $X net worth by age 40.  Look, I don’t want he MOST anything, because that’s the MOST hassle, time consumption and risk.  I want to achieve my income or net worth goals with the LEAST - the least “doors”, the LEAST time commitment, the LEAST debt, and the LEAST risk.  

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Jay HinrichsBusiness Member
Real Estate Consultant · Summerlin, NV · Member since 2014 · 45k+ posts · 66k+ votes
1y

I thought I wanted 100s of doors SFR's I did that 2 years in I was like this SUCKS

Granted there are many that love being a landlord.. but its not the niche I found out worked best for me.. Rather own a few very high quality NNN type for cash flow and depreciation and create value in building and selling or renting our money to others who want to own rentals..

and I have some really great clients that I have helped achieve their dreams of owning hundreds of doors. happy for them.. But its not for me personally. I found out I like clipping coupons. and note collections much better than dealing with tenants or PMs 

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  • Julie KnutsonBusiness Member
    Real Estate Broker · Watertown, SD · Member since 2024 · 24 posts · 7 votes
    1y

    I think there is value in establishing tierd goals, that are attainable, 1, 3, 5 years, putting forethought into a business plan also holds a lot of value. 
    Start small, if you achieve your goals early, awesome!! You can adjust!

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