All Forum Posts by: Mark Ferguson

Keep the momentum.  If we are not progressing we are regressing.  Lets get in front of the crazies.

Franklin

The 3 most important rules to setting goals are:

Rule 1 - Understanding that your goals should be financially based, and not based on numbers of properties.  The properties and their financial profiles satisfy your Financial Goals.

Rule 2 - Understanding the difference between:  Goals, Milestones and Steps in between

Rule 3 - Understanding how Goals, Milestones and steps combine, and form your plan.

Without Financial Goals, such as Paying off all your Personal Debt, and having enough cash flow to pay all of your monthly bills, how do you make decisions on what properties to buy...and why?

Without having Milestones, Measurable Milestones, how will you know when you are successful?  How do you know if you are successful?

Without Goals and Milestones, how do you know what steps to take, and how to analyze properties to fill those steps.

Without the resulting Plan, why are you investing?...and why are you wondering why you seem to need 100 properties, or "flip 20 properties and buy 5 holds per year"?

@Mark Ferguson Thanks for sharing the goals. Love the ambition, best of luck!

 Is that typically at 20 years? 25?

Mark, i always enjoy your posts.  I am on your site weekly as well.  I have learned a lot from it, and i appreciate it.  Right now my wife and i have 1 4-unit building that we bought early 2015.  We are getting ready to start shopping for our 2nd property in the next couple of months.  I am also getting ready to get my real estate license(between football and baseball season--so i don't have any excuses, ha).  I am hoping to snowball our business similar to you(except 100 houses terrfies me!).  I would love to have around 20-30 units in the next five years.

Thanks for always sharing your work/stories.  They are appreciated.

Man mark, making me real jealous. I'm such a cashflow whore, I always worry about the holding costs and losing out on buy and hold opportunities to do a flips.  And you also have my poster dream car, a Diablo!

Last year I finally upgraded from my 98 civic to a C6 but I love the gallardos but I have been sleuthing for a slick deal on a GTR.

Congrats man, I always say to aim high on the goals. Screw the haters : )

@Mark Ferguson  yes exotics are cheap to buy but then you have to maintain them  kind of like a run down rental if your not careful.

Now me I am an aviation guy... so price points are 10X or more of most any car. and of course they are faster and much more fun to use... being your in 3 dimensional space..

So when I am in a cruise decent doing 220 knots with a 40k knot tail wind which is just over 300 mph over the ground now your talking..

unless you track your hot car .. you end up like me with your license suspended at 59 YO and in line with all the kids getting their SR 22 insurance... LOL.

Keep up the good work .. I really like your model.. top producing agent for taxable income so you can qualify for homes.. Value add flips for the nice hits and ( if you must) rentals because well just because.. I would like to see you move into the money game and get rid of the rentals.. IE who needs those downers  LOL..

IMO, volume is no substitute for quality, ergo the old Haste Makes Waste.

It great to have goals and better if you actually create action plans and IMPLEMENT them, but learn from every deal, optimize each step and you'll get consistently better deals with more profits.

@Andrey Y.

Those are not new car prices.

I have an Aston/Lotus dealer as well as a Maserati/Spyker dealer just down the street from my office.  In another direction, I have Motoreum (they have a reality show on one of the channels).

I was surprised to find a '63 split window Corvette for around $40k at Motoreum.  You can find used Lotuses and Astons at the local dealership for numbers similar to what Mark has posted.

 Where are you getting those (low) prices from mate?