How Are You Planning on Making 2015 a More Successful Year than Last?

BiggerPockets Founder · HI · Member since 2008 · 16k+ posts · 5k+ votes

I'll kick off the obligatory "what are you going to do better" post for 2015 . . . so, how are you planning on making this year a more successful one than last year?

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Joel OwensBusiness Member

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Real Estate Broker · Canton, GA · Member since 2010 · 15k+ posts · 11k+ votes

11y

I have set for myself 200 million in commercial real estate transactions and 5 million commission.

Buy 2 to 3 strip centers this year from mailing to property owners. I think 2015 will be a huge year for transactions. I want to snowball that into very large recurring cash flow for myself through hands off commercial investments.

Also looking at possibly doing a fund for retail for investors to buy into who do not want anything more than a monetary and return involvement.

My goals are really big but even if I get halfway there I will consider it a win. In martial arts we are not allowed to set goals that are too easy and we know we can reach. People avoid disappointment that way by being SAFE but they also LIMIT themselves by not seeing what is truly possibly to achieve.

It's not a fail to not do 5 million in commission and hit 2.5 then to set a goal for 1 million and hit that mark 100%.

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Cathy McCormick
Dunnellon, FL · Member since 2012 · 27 posts · 3 votes
11y
I am going to sell my white elephant of a house in NJ and get an investment property (or 2) in FL!
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Valerie Salmeri
Seminole, FL · Member since 2015 · 1 post · 0 votes
11y
Read, learn AND GROW....I'm new to BP and you're all so inspiring. I want to turn inquisitiveness and excitement into success for my family and friends.
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Davey Wilde
Real Estate Agent · Seattle, WA · Member since 2015 · 40 posts · 24 votes
11y
Goal for 2015? Consistency
Manage my time and trust the process. I wish somebody would have told me this when I first started investing. It's hard to control the number of deals that you will close in 2015, it's much easier to control your time and effort. Trust that putting "x" amount of hours into your business will pay off and don't stop until you reach your goals!
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Joshua D.Pro Member
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BiggerPockets Founder · HI · Member since 2008 · 16k+ posts · 5k+ votes
11y
I just wanted to thank everyone for sharing their feedback, especially the new folks who made this their first post here on BiggerPockets. If you are one of those people, I encourage you to also leave a New Member Introduction and jump in on other discussions here on the site.
Podcast Guest on Show #100
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Marci Stein
Rental Property Investor · New York, NY · Member since 2011 · 956 posts · 510 votes
11y
Develop a team of pros to work with.
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William Johnson
Real Estate Broker · Laval, Québec · Member since 2014 · 183 posts · 59 votes
11y
I am going to continue to pursue my business goals. I have been working at my business, adjusting and refining my strategy along the way. I still have not achieved real success and I feel as though there is some invisible barrier that is blocking me. My goal is to continue moving forward until I blow through whatever it is that is blocking me and score my first moneymaking deal.
I also am going to began making offers and working with multi family investors. My ultimate goal is to personally own 50 doors by 2020.
My fiancée just have birth to my fourth child so I am keeping it simple this year. I am just making sure that I stick with the real estate business and that I don't back down despite the fear of constantly being outside of my comfort zone and bring regularly sleep deprived.
Also I am going to learn how to be happy with what I have now in life while maintaining my ambition to achieve more.
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Micah Redden
Investor · Johns Creek, GA · Member since 2014 · 299 posts · 110 votes
11y
This year is already more successful than last year! I spent a lot of 2014 'getting ready'. 2015 was the timeline to take action and that has already started. Marketing, networking, financing and rehab budgets are already started!
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Marian Smith
Real Estate Investor · Williamson County, TX · Member since 2011 · 1k+ posts · 961 votes
11y
Goal 1: Get a HELOC.
My HELOC expired after 5 years and I didn't notice until I saw a house I thought I might want posted for foreclosure. I could have probably renewed the line had I approached the credit union before or immediately after it expired, but now I have to reapply and even though we do not have a mortgage, they want income...and not just income, either a salary or 2 years of self-employment tax returns. (And my husband quit his job and started consulting a year ago so we have neither). And we don't have any other money so I may just watch Netflix in 2015 and lift weights. Prices are too high and inventory too low anyway.
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Anitra Sanders
Investor · Brandon, MS · Member since 2014 · 5 posts · 2 votes
11y
Joshua Dorkin not buy a property at the spur of the moment. I'm definitely doing my research before I buy. I didn't know anything about Biggerpockets 3 months ago.
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Bill D.
Castle Rock, CO · Member since 2015 · 10 posts · 2 votes
11y
New for 2015... get my business running more efficiently! I just joined BP as part of my New Year's Resolution because I feel like up to this point I've been profiting from timing. I jumped in hard in 2007 and started buying SFH. Now I feel like prices here have bounced so much (we are at new record highs in the Denver Metro area) that it is time to slow down on the acquisition side and optimize the operations. On BP I have been paying particular attention to discussions about the metrics I should be using and how to accurately measure each property's success.
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Linda King
Flipper/Rehabber · Fort Mill, SC · Member since 2013 · 73 posts · 12 votes
11y
Hey Joshua- I think as the New Year hits us all, it's a good chance to reflect and ask these types of questions!
My goal will be to assist more professionals in networking this year to help out - Without the expectation of getting something in return! I tend to get too focused on the end game or seeing results all the time and have gotten away from something I really enjoy - Networking...
Helping others, with no strings attached just makes us feel that we are doing some good in the world and I have gained so many great relationships from doing this one thing over the years! Now, I want to get back to networking with like-minded professionals to try to assist THEM without expectations.
Thanks for poking at us to make us think...
Happy New Year Everyone!!!
LK
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Sam McPeek
Investor · Richland, WA · Member since 2014 · 71 posts · 29 votes
11y
For me, 2015 will be the real start of my REI. After spending the last 2 years recovering financially, we are planning on finishing out the other side of our duplex. We are also adding another unit above our garage to make it a tri-plex....then we will be truly house hacking!
Additional goals include buying at least one other property (2-4 units), and increasing my relationships with other investors in my area. Those are short term goals that should net close to $2K monthly.
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Tyrone Watler
Investor · Yonkers, NY · Member since 2014 · 84 posts · 20 votes
11y
@Joshua D. My goals for 2015 is to cash in my IRA and buy two apt buildings in Cincinnati OH. To not only better my life but my immediate families life as we'll. To continue to listen to podcasts and be humble and great full to anyone that helps me on my journey in real estate investing.
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Tristan Chicklowski
Investor · Springfield, MA · Member since 2011 · 37 posts · 4 votes
11y
I want to manage my time better, and get back to sellers sooner.
Tristan
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Timothy Riley
Investor · Chicago, IL · Member since 2013 · 451 posts · 96 votes
11y
Dedicating a combined 8 hour day a week to the business of real-estate:
An hour a week praying
An hour a week reading
An hour a week listening
An hour a week communicating with either (attorney, banker, tax pro)
An hour a week communicating with my rehab crew or potential workers
An hour a week looking for deals
An hour a week planning and plugging offers
An hour a week working on being a philanthropist or just speaking to people in general
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Aaron Keckley
Chesapeake, VA · Member since 2014 · 14 posts · 3 votes
11y
My plan for 2015 is to build my foundation. to earn and pay off $20,000 of my wife and I's college and consumer debt. On paper, I can do this by listing and representing buyers in 6 real estate transactions. After that we will be out of "liability" debt and ready to invest in our first asset, a multi-unit property.
1 Reply
Rocky V.
Rental Property Investor · Arlington, TX · Member since 2012 · 788 posts · 640 votes
11y
Taking action......1st time to purchase 2 properties at auction was today. Let's get this year going!
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Richard Rountree
West Hollywood, CA · Member since 2014 · 31 posts · 1 vote
11y
I plan to be more focused and organized. I want to do weekly planning, monthly planning, 6 month and year planning. However I still want to stay open to opportunities. Also I want to be able to put my pride and ego to the side so I can become more of the student and listener versus the teacher and know it all.
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Frantzces Lys
Real Estate Agent · Silver Spring, MD · Member since 2014 · 112 posts · 44 votes
11y
Great post!
I spent 1.5 years reading and reading and reading. I recently launched my marketing campaign and paired up with a seasoned investor to help him grow his business. His plans on closing 7 deals a month and I would like to close 2. What I realize is at some point you just have to do it to "get it". I've been getting many leads from my campaign so we have been working through them.
My goals are:
- Do 2 wholesale deals per month
- Do one rehab
- Save enough capital to buy my first multi-unit in 2016
- Read more and understand key investment terms/strategies (currently reading Frank Gallinelli's book), continue to read one book a month
- Increase my network of investors
Happy goal setting everyone and cheers to everyones success!
1 Reply
Sheldon B.
San Antonio, TX · Member since 2014 · 17 posts · 4 votes
11y
First let me wish the BP family a Happy and Prosperous New Year.
This year I resolve to:
- Spend time with, and gain a greater understanding of the calculations and numbers associated with analyzing RE Deals (The Engineer in me:-).
- Look for deals each week to analyze. (Learning by doing).
- Grow my network of Real Estate Investors and Professionals.
- Complete a Rehab and get it rented.
1 Reply
Tami DuBose
Lender · Prairieville, LA · Member since 2014 · 146 posts · 114 votes
11y
This year, Chad & I have a more aggressive game plan to at least double, hopefully triple, our current inventory. We already time blocked monthly activities for creating results.
I've set up daily & weekly activities.
Making 2 offers a week is HUGE for us considering we made less than 10 last year.
We will own a 16-24 unit complex this year! Tami (& Chad)
1 Reply
Stephen Barton
Real Estate Consultant · Indianapolis, IN · Member since 2014 · 322 posts · 238 votes
11y
I plan to make 2015 a great year by actually breaking out of my shell and networking more. You know I really thought I could just do this all myself but this is a people business, and I plan to focus more on those around me!:) The only reason I have made it exactly 1 year (Officially this month) is by God's grace, and by getting together with like-minded people! Great things can happen when we realize that business partners can compliment each other. One person's weakness is another's strength!
Thank you @Joshua D. for making this site happen-without it I am sure my business would not have made it our first year!
1 Reply
Qulia Brunson
Real Estate Broker · Charlotte, NC · Member since 2014 · 76 posts · 21 votes
11y
For me consistency goes a long way. I know that engaging in more forum discussions and sending mail campaigns on a set 6 week schedule, in addition to other things will help my business. Therefore, my plan is to discipline myself with consistency in order to get the results I want this year.
1 Reply
Lelith Walker
Investor · New York City, NY · Member since 2013 · 263 posts · 141 votes
11y
I am fine tuning my business plan and investment strategy. I am going to continue to make more connections and follow up.
1 Reply
Precious Thompson
Real Estate Agent · Philadelphia, PA · Member since 2013 · 310 posts · 34 votes
11y
In 2015 , I plan on making this a better year by continuing to educate myself on the real estate business as well as take more action when it comes to networking and meeting people who are interested in the same things I am . I also plan to save toward a down payment for my first rental property.
Good luck everyone
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