2020 Mid-year Goals Check-Up

[Shiloh Lundahl]

Wow! 2020 is now half way over. Who would have thought that the country/world would be where it is today. It is not where I thought it would be. Nevertheless, here we are and it’s time to take an accounting to see where we are compared to where we thought we would be this year.

I’d love to know what your goals were at the beginning of 2020 and where you are at today. Are you still driving forward full steam ahead? Are you on track to meet your goals? Did you pivot to a different direction? Did you pause or drop your goals? What did you do and where are you at with your 2020 goals?

[Shiloh Lundahl]

@Patrick Daniel This is what I posted back at the beginning of the year - pre COVID 19.

I like to make yearly goals in each area of my life but here I will share only some of my real estate goals for 2020:

1. Sell 19% of one of my real estate companies for 400K. - I pivoted from selling a part of my company to working on getting a working capital line of credit. It just got denied because of the economic uncertainty, but I am going to see what I can do to get one anyway.
   
2. Separate my business finances better by taking 250k of that money and pay off business debt from my other businesses that I have used to fund the acquisition of properties in my main real estate business. - I accomplished this without raising money by selling a portion of my business or by getting the line of credit. I used the EIDL loans to replace my reserves in my business accounts and I used the reserves that were in there to pay back and separate each of my business finances.
3. Use the other 150k to continue purchasing properties in the Triad area of North Carolina. - We have just continued to use hard money and private money loans to purchase properties in North Carolina. We also found a couple of really great banks that are both willing to refinance our properties into long term debt.
4. Purchase 36 single family properties (24 in Greensboro, Winston-Salem, and High Point, and 12 in Arizona) and lease them out using the lease option strategy. - We have purchased 4 properties in Greensboro and Winston-Salem, North Carolina, so far and 13 properties in Arizona (A 6-plex and 7 Single Family).
5. Purchase a 30 pad mobile home park with 10 units already rented and an additional 20 pads available to rent out, improve advertising and double the value of the park and basically BRRRR the mobile home park. - We have purchased 2 parks so far for a total of 25 units and we have been working with the city of Florence, Arizona to add 20 more units to the existing pads.
6. Go on the Investor Summit at Sea real estate cruise with the Real Estate Guys, Robert Helms and Russell Grey. - No. I did not accomplish this as the cruise was cancelled.
7. Bring on one or two more assistants to lighten our work load and systematize our businesses better. No. This has not been accomplished. But I better do it quickly so that I don’t burn out my assistant.
8. Appear on 10 more podcasts to increase brand awareness in order to raise money for our real estate deals. - I believe I have been on 5 more so far and I have another 3 in the works.
9. Get 20 real estate coaching clients and help them acquire their first, second, or third property. - I have 6 coaching clients who I have helped get properties using the BRRRLO Model so far.
10. Increase cash flow by another 5k this year. - I haven’t done a full accounting yet but with the cash flow from the newly purchased properties, the purchase of the new mobile home parks, the refinances, and the debt pay down from the cash out refinances, I believe we are between 3k and 5k increase for the year so far.

One of the things that I have done to pivot from the COVID pandemic was I slowed buying in order to accumulate more in reserves. By the end of next week, I believe we should have the amount in reserves that want right now.