Reflection on 2020 and 2021 goals

[Brandon Penn]

I know 2020 has been tough for a lot of people with the pandemic and everything, so I don't want to come off as bragging or unempathetic but I think it's important to share the good things that 2020 has brought. I have honestly had one of the best years for my business and personal life.

In March of 2019 I purchase a large portfolio that brought my unit count over the 100 threshold. It had about 30% of the units vacant and in great disrepair. From March until now, i've been able to renovate all of the original vacant properties and rent them out except for about 6 units. I have had a lot more come vacant that needed major repairs too, but i'm don't to about 15% vacant for this portfolio now.

My laundromat had an increase in revenue by 50% and I believe the pandemic actually had a lot to do with that. 

I got engaged and have a great family life. 

For 2021 I really want to leap to the next level. For my rental business I plan to be 98% occupied by the end of Feb. I would like to purchase a mobile home park by the end of the year. I would also like to see my laundromat go from gross income of 120k to 150k with it increasing to 250k by the end of 2024. I want to vault my real estate sales business and property management buisness to the next level as well and hire an assistant to help me keep expanding. For my personal life I want to educate my children in investing and spend more fun time with them. I also want to help my fiance reach all of her goals, and continue to keep the spark alive as we plan for a future wedding.

How was your 2020? What plans do you have for 2021?