New Year's Goals for 2008?

Question

Well, its a New Year! And for all of us who aspire for a better one, I thought we might be able to inspire one another with our methods and aspirations. Afterall, Napolean Hill's Classic Think and Grow Rich ask that we write out our goals in great detail as part of a method for their realization.

In that vein, what are your R/E goals for 2008 and how specifically do you hope to achieve them? What will you do differently this year to make it a better one?

I'll be sure to add my own shortly.

Daniel Durham · Answer

I have a few... one of which is to implement and live by the following:

Today I will do the one thing that will generate leads for my business

I'll make the right contacts and the right marketing decisions to generate the financial goals I've set for myself this month

I can do all of this and more because I deserve to be rich and successful

No one is going to stop the success train that I have started here and now

I'm also going to work on building a large network of investors to partner with and wholesale deals to.

To visit the forums on a daily basis to learn and help educate others so that we can all benefit from each other...

Mike Nelson · Answer

So is everyone that responded on track?

Joel HusVar · Answer

I've planned to #1  quit smoking......did that
and start a r.e. investing company and have 3 properties by 09.......idea set and wheels turning

Mark Pinkham · Answer

This year I would like to raise capital by getting 3-4 new property management contracts.  By doing the math, I realized that if I reach this goal I will raise enough capital over the course of the year to supplement my income and buy a 3 family home.  This is exciting to me because it will be the first time I will have enough money to purchase and manage my own investment property.

Rich Schroeder · Answer

My goal is to purchese 8 rental properties that cashflow well this year.

Thanks, 
=Rich

Jeff Wilcox · Answer

You have to start somewhere.  So my real estate goal for 2008 is to start!

I want to purchase at least one property before the end of the year, either a multi-family residential or a single-family residential with lease/purchase options.  I'm not sure yet which model is right for me.

Jeff

Michael Rossi · Answer

Hi Minna,

I try to be a little vague about the specifics of my portfolio because there are so many low-life predators out there (especially on the internet).  I have several dozen rentals (more than 50, less than 100).   My original goal was to buy 10 per year for 5 years.  What actually happened was that I easily exceeded that number and in fact wholesaled a couple of deals when I had so many deals that I couldn't do them all.  Last year, I ended up doing 22.  I hadn't planned on doing that many, but they just kept coming.

The hard thing now is going to be staying disciplined enough not to buy any additional units (especially with all the great opportunities out there).  At this point, additional rentals could be counterproductive to what I'm trying to accomplish (the right mix of work and time off).

Mike

David Sanders · Answer

MikeOH, just a quick note for you.

GOD SPEED and a LONG HEALTHY LIFE MY FRIEND!!!!

I only know you through this site, but you will never know the value your contributions are to me by your experiences, your blog, and your book.

I read everything you, and a few others (Josh, Wheatie, TC, allcash, etc) post!!!!

Sincerely

Minna Reid · Answer

Hey Mike - Thats pretty motivating....If you dont mind me asking, how many units did you have to pick up to make that possible? And at what rate were you buying these?

Brian Stein · Answer

I'm 25 and completely new to this.  I'm probably going to be limited to purchasing, rehabbing, selling, and then repeating one house at a time.

My biggest potential roadblock to my goals for 2008 will be how long I have to wait while one property sits for sale before I can make another purchase.

Basically my goal is to flip 5 houses, which will basically give me two months per house by the time I'm likely to sign on my first one.

I'm young, I've worked in construction, and I've worked a lot of 60+ hour weeks before so once I get these houses I am prepared to put 10-12 hours a day into them 6-7 days per week.

Flipping 5 houses and $60k+ would be goals that I hope to achieve.
Also to purchase one homes to rent out out. ($400 mortgage and $700 rent).

New Year's Goals for 2008?

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