Goals Update

I am doing a midyear check up on my goals , and realize did not post summary of last yers goals , how I did, and my goals for 2016 

 So my 2015 goals will be as follows

• 1.Continue to have tenant pay down mortgages on existing properties. Goal is %00 occupancy on the 4 SF houses - Status – Met - 100% occupancy throughout year. Mort balances dcreased total of $XXK over the year
• 2.Convert current primary residence to rental property after completing my transition out of military and move from current location. Status – Incomplete - due to transition , stayed in area and kept primary residence . made PM contacts to eventually rent out (1-2) years)
• 3.Maintain / stabilize rental cash fund reserve Use this as emergency fund for repairs and down payment source for next property. 2014 was rough as one time maintenance issues and vacancies put serious hit on reserves. Status – rebuilt reserves – only 1 significant CAPEX expense (A/C unit) but have rebuilt reserves and built deposit towards down payment owards next property .
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• 4.Purchase two more investment properties; while I still have a W-2 form. This will be my first pure investment properties, so have to research the best market for where to go. Preliminary analysis rules out 3 of my current markets, as I don’t see the returns there. _Status – Not compelte - deals didn’t materialize in markets looking at, and much time was spent on transition. Good news able to land W-2 after retirement, so still have that advantage.
• 5.Purchase a new MF property at my new location (yet TBD) and house hack it, either by renting rooms or buying a small multifamily and renting out the other units. – Status not complete - se above #2 about move. New goal house hack current house to build cash reserves
• 6.Increase my current cash flow %50 to ~ $1800 -. This has multiple options, including paying off mortgage on one of the properties, new cash flow from new investment properties, and increasing rents on other 4 properties . Status – InComplete - cash flow increased to $1300, but took a hit to CAPEX at one property.
• 7.More efficient use of equity and capitol. Right now have a lot of equity built up in three of my properties, either by appreciation or paying off the mortgages. This may include refinance or doing a 1031 for more profitable property. - Status – Refinance proved too difficult for non owner occupied property , but did et up HELOC on primary residence to provide additional capitol for next purchase
• 8.Become more educated investor. As stated in multiple podcasts and forum posts, there is a lot of educational resources out there for the investor. Goal this year is to pick one-two formal courses (either in pursuit of RE license [KH1] general knowledge) from open source classes and complete then. In progress. Did attend webinars, podcasts and did complete Ow Business classes through transition center. Focused on entrepreneurship but had some REI takeaways.
•  Start developing processes and automation applications to increase efficiency of handling my current RE investments o free up more time for research and making offers.  Status  NOT Met -  still researching methods 

Now for my 2016 goals 

So my 2016 goals will be as follows

• 1.Continue to have tenant pay down mortgages on existing properties. Goal is %100 occupancy on the 4 SF houses
• 2.Convert current primary residence to house hack - have 2 additional bedrooms to provide cash flow.
• 3.Maintain rental cash fund reserve - keep 3 months P&I in dedicated account .
• 4.Decide on good rental markets , Purchase two more investment properties; This will be my first pure investment properties, so have to research the best market for where to go. Preliminary analysis rules out 3 of my current markets, as I don’t see the returns there. Look at offloading two current properties in down markets .
• 5.Purchase a new Investment property . location ( TBD) and
• 6.House hack – get experience as landlord. 2 rooms available – rent $350-400 possible
• 7.Increase my current cash flow %60 to ~ $2100 -. This has multiple options : 1) paying off mortgage on one of the properties (+$550) , 2) increasing rent (already 1 scheduled ($25, possible$50) , 3) new cash flow from new investment properties 4) house hack ($350-700)
• 8.Continue education as investor ; become more active in REI meeting and online. Look into PRO membership at BP . Goal this year is to pick one-two formal courses (either in pursuit of RE license [KH1] general knowledge) from open source classes and complete then.Next post will go into how I am doing 

[KH1]

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