Real Estate Goals for 2017 in Arizona

[Shiloh Lundahl]

So last year my wife and I did not end up reaching our goal to flip 20 houses.  Many exciting family changes occurred and we only ended up flipping 7 houses.  I moved my family to California to give our 7-year-old daughter an opportunity to follow her dream to become an actress.  So far she has done a few projects and has had an appearance on ABC's Speechless (she was the girl trick-or-treater in the Halloween episode).  

Now I travel back and forth from Arizona where my therapy practice is to California to spend time with my family and I do most of my investing in the few moments in between appointments.  I have found it absolutely necessary to have a good team put together because my time is so limited.  I also followed the advice of one of my mentors and I hired a part-time assistant.  Without her, we couldn't do what he have been doing.

In 2017, we plan on making our business structure more efficient so that we can meet our goal of 20 flips this year.  

This post is to ask what other investors have planned for 2017, and even more specific, what part-time investors (who really like their career but want to create a sizable real estate business on the side) are going to do in 2017 to accomplish their goals.

Thoughts and comments are appreciated.

Shiloh Lundahl

[Zachary C.]

@Shiloh Lundahl,

Well, I have set long term goals and am working on those and I haven't set hard goals for 2017 yet. But, while working on those long term goals I landed a deal of a type I hadn't anticipated. Right after closing on my first SFH I landed a property management company, both in November. So, in 2017 I will keep working my long term buy and hold goals, but now I will be adding in those shorter 1 year goals for the PM business. I am a part-time investor and travel a lot for work (all together I am out of town more than I am in town), I am currently traveling and on the other side of the world. Once, I return I plan on sitting down with the other owners and laying out the annual goals. Below is where I plan on starting out our discussions.

1. The acquisition of the PM company we bought to add to our PM company was signed off in November but the finalization is January 1st, we have already started the process and we will have a smooth merger completed by the end of January.
2. We will streamline our processes and systems by the end of the 1st quarter.
3. I will create a streamlined start-to-finish investment process for clients by the end of the 2nd quarter. A process that can help them with any step in the process and all the steps if necessary. Steps like analyzing budgets and optimizing them, creating companies to hold assets, determining goals, planning a strategy to achieve those goals, analyzing deals, help with financing, purchasing investments, managing the investments, selling the investments, etc.
4. I will create a quality network of out-of-state investors through BiggerPockets over the year. This is going to help me learn faster what out-of-state investors are looking for: in areas, properties, management companies, etc. This will help guide me as I continue to improve the company and make it more appealing and investor friendly, local and out-of-area.
5. I will add 30 units to our management portfolio over the year. 
6. Over the year I will explore ways to get young professionals into REI so they do not start worrying about retirement mid career or later.