Share your goals for 2023! What are you hoping to accomplish this year with your real estate portfolio? What goals did you set and why? Happy New Year!

I already have 4 lined up and I'm working on the 1st. Hope to kick my feet up for the rest of the year when I'm done with these 4.

To me it is important because I want to be able to collect 5k / month in passive income. If I could find a heck of a deal and get 5k/ month then I would but there is a learning curve - even if I did find something that cash flowed 5k / month I would have no idea how to get it and the cost would likely be too risky for me to consider. If I scale my portfolio and buy one property at a time while continuing to learn. I'll be able to get something that cash flows very well. The more properties that I get the more that I learn - putting me in a better position to get that big one.

I didn't realize the number of properties was important. Is the number of properties important, and if your answer is yes,...why?

I'm actually looking for a self-storage facility with cashflow equivalent to 10+ single-family homes.

Zero. My wife said she wont allow anymore properties:(. I’m still catching up from buying 5 SFR in 2022. lol. And my cash reserves right now is minimal and underfunded by a lot. So I’ll ramp that up hopefully and focus on paying off my 401k loan I took out to buy and rehab RE in 2021.

Hi @Katie Miller, planning to add 1 or 2 large multifamily (>100 units) in the portfolio, probably Q3-Q4 as I agree with @Nick Robinson above, there will be so opportunistic deals out there this year as the FED keeps hiking rates and will force people to sell. Being extra careful to pick the market to invest on, fundamentals have to be really solid (population growth, jobs growth, Median HH income, etc.) as you want to be in a market with large tenant pool with lots of jobs, so you can mitigate economic occupancy problems and evictions.

@Katie Miller Honesty, we are hoping just to get one this year. We got our first property in early 2021 and had hoped to lock up a 2nd or 2 more units in 2022, but due to high prices, surging rates, and lack of inventory, we we're forced to the sideline. We were able to grow cash reserves, but I feel the majority of investors have done the same in recent months, all in anticipation of the same thing: market decline.

@Joe Villeneuve it’s important because of Ego. It doesn’t matter how much money I am making as long as I can tell people I own 50 properties! All of the local meet ups I go to the most important thing always seems to be door count. I have always found it funny because one door in a certain suburb is worth 20 doors in the ghetto so who cares how many doors you have? But then I remember how wonderful I feel when I tell people how many doors I own and it all makes sense :)

How many properties do you hope to purchase this year?How many properties do you hope to purchase this year?

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