Jump to content
The forums have been archived and are now read only. Years of great info saved for your reading pleasure. Thank you! Visit us on Facebook: https://www.facebook.com/NakedInvestor/ ×
The Naked Investor Forums
Adam King (MI)

Business Plan

Recommended Posts

Anyone have any plans for 2006? Any specific dollar amounts you're going to go for? I'd like to see seven figures in 2006! How about you?

Regards,

Adam

Share this post


Link to post
Share on other sites

Adam,

 

Being I haven't cashed any deals yet, I'll be happy with my first, but assuming I start getting some, my goal is $50K. I know, not quite the 7 figures you're forecasting, but, I want to set something attainable. Should I hit it before the end of 2006, I'll just re-set another goal for the remainder of the year.

 

Jeff

Share this post


Link to post
Share on other sites

I have a few goals for 2006.

 

First, I plan to continue to grow in my understanding of sellers. It has become obvious to me that the reasons I do RTO as an investment (higher price, more cash flow, less management), do not interest 99% of sellers--even the ones who are considering RTO. I want to close that gap.

 

Second, I plan to maintain a more consistent CA inventory and run ads in the local real estate papers along side the agents and builders. Not only will this mean more deals, I'm hoping it will add an air of legitimacy that is lacking in some potential seller's eyes.

 

Third, I plan to focus on larger homes much more than I have in previous years.

 

Fourth, I plan on working more with builders and enjoying all the benefits of that!

 

I guess that's it. I don't have any particular dollar goals, even 1 CA a month provides plenty of cash to do whatever with.

Share this post


Link to post
Share on other sites

Hi Adam,Doug and Jeff

 

My goal for a dollar amount is similar to Jeffs, well actually it is exactly the same $50 000. After talking to Doug about what it takes I know that this is my future. My goals are to develop more persistance and not be afraid to give those landlords and sellers a second,third and fourth call. I really get hung up on that sometimes.

 

But my goal for the new year is to make at least $5000 by January or February. Plus I will become more agressive in marketing in the city where I live. Remember that post Doug cold segments in a hot market?Well in the neighborhood where I live realtors have lost about 10 listings. I just might have a head start today I have a seller who has said yes but wanted to read over some info so I sent him an Lp advantage. I will be phoning him tomorow to talk numbers with him. Wish me luck! :)

 

Gordon Holtner

Share this post


Link to post
Share on other sites

My goal is to get a 6 figure income by the end of 2006. Im ready! Lets do this adam! Btw adam if you do get 7 figures, your always welcome to donate to Jtl's flatscreen television in every room fund. Just a thought.

 

Jacin L.

Edited by jtlab

Share this post


Link to post
Share on other sites
My goal is to get a 6 figure income by the end of 2006. Im ready! Lets do this adam! Btw adam if you do get 7 figures, your always welcome to donate to Jtl's flatscreen television in every room fund. Just a thought.

 

Jacin L.

 

LOL Actually, when I get there I'll have to donate to the "Pay off Adam's Discover Platinum because he put a flat screen in every room" credit card fund! :blush:

 

As for the rest of you, Aim higher!! Screw this $50K crap you guys are talking about!!! AIM HIGHER!!!! But seriously, you will only be limited by your dreams or lack there of. I know it seems like a lot of money but just have the faith and know that the understanding of how to achieve it comes with the experience. Trust me it does!

Regards,

Adam

Share this post


Link to post
Share on other sites

Adam, It 's not about lack of goals or faith in my financial well being it is this, Prior commitments I was just asked for no reason at all by a guy I barely know to work and be trained as an environmental technologist with no relevant experience and I have to go to school and work and of course work on my main dream to be in Doug's shoes. I know I am being conservative in my estimate. But $50 000 is more cash than I have ever seen in my entire life.

 

 

Anyways my seller is currently getting the comps for me and I am having him do a seller disclosure form and send me pictures of the inside. This is a long distance CA like Adam gave me information to do ( thanks again Adam) I have a good feeling about this one :blush: And I am working on getting more in case this one falls through.

 

Gordon Holtner

Share this post


Link to post
Share on other sites

Gordon,

 

environmental technologist

 

WOW that sounds like a grow-up job!! :blush:

 

When I first started I put my goals on the wall. I wanted to make $100K that year. I only made $60K. The next year I made my $100K +. But it's not about the cash. I know that now because I have more fun being up north in our little cabin hanging on the deck watching the waves and having a beer. That costs just under $300 for a whole week! :D

Cool stuff,

Adam

Share this post


Link to post
Share on other sites
I know that now because I have more fun being up north in our little cabin hanging on the deck watching the waves and having a beer.
Waves?? On a lake in northern Michigan in winter? How does 8" thick ice create waves?? :blush:

Beer? On a lake in northern Michigan in winter? How do you pry the frozen can from your lips??

Share this post


Link to post
Share on other sites
Anyone have any plans for 2006? Any specific dollar amounts you're going to go for? I'd like to see seven figures in 2006! How about you?

Regards,

Adam

 

Adam brings up a good point. Many businesses don't really have a true plan (probally more in this BIZ). We all should make a plan and be looking at it weekly.

 

My plan for this year is to equal half my salary for this year. Second to write a plan. Within this plan is to give 5% of the Real estate profits back to charity.

Edited by Craig

Share this post


Link to post
Share on other sites

Obviously, to get my first deal under my belt. ^_^

 

But the biggest goal for me is to use REI to first and foremost get me out of debt. (Mainly student loans in my case--2 Masters degrees don't come cheap!!) The anxiety debt causes me is the biggest motivator. (I don't care how much they tell me student loans are "good debt" darnit!!) The next biggest motivator is to keep that promise I made to myself to have a net worth of at least 1 million dollars by age 35. (I am 28.) :blush: (Secondary goal--the ability to retire totally by age 50.)

 

Soooo....by this time in 2006--no more debt and more net worth!

Share this post


Link to post
Share on other sites
Obviously, to get my first deal under my belt.

 

But the biggest goal for me is to use REI to first and foremost get me out of debt. (Mainly student loans in my case--2 Masters degrees don't come cheap!!) The anxiety debt causes me is the biggest motivator. (I don't care how much they tell me student loans are "good debt" darnit!!) The next biggest motivator is to keep that promise I made to myself to have a net worth of at least 1 million dollars by age 35. (I am 28.) (Secondary goal--the ability to retire totally by age 50.)

 

Soooo....by this time in 2006--no more debt and more net worth!

 

Shouldn't be a big deal. Just be careful. Sometimes getting yourself out of debt will put you into debt if you're not careful. BUT IS SURE IS FUN DOING IT!!! WOOOHOOOO!!! :lol::D^_^:blush:

Stick it out, you'll get there.

Adam

Share this post


Link to post
Share on other sites
Obviously, to get my first deal under my belt.

 

But the biggest goal for me is to use REI to first and foremost get me out of debt. (Mainly student loans in my case--2 Masters degrees don't come cheap!!) The anxiety debt causes me is the biggest motivator. (I don't care how much they tell me student loans are "good debt" darnit!!) The next biggest motivator is to keep that promise I made to myself to have a net worth of at least 1 million dollars by age 35. (I am 28.) (Secondary goal--the ability to retire totally by age 50.)

 

Soooo....by this time in 2006--no more debt and more net worth!

 

Shouldn't be a big deal. Just be careful. Sometimes getting yourself out of debt will put you into debt if you're not careful. BUT IS SURE IS FUN DOING IT!!! WOOOHOOOO!!! :lol::D^_^:blush:

Stick it out, you'll get there.

Adam

 

Adam, I propose that we start a new thread, in which we have to post our progress every month to see how everyone is doing in regards to their goal. Community pressure can be a beautiful thing when it comes to making progress. Weather you make progress or not, everyone has a responsibility to report on what they did or did not do towards their financial goal, and this must be done on a certain day every month. Everyone can learn a tremendous amount of info from others and learn a lot about themselves by doing this I think. So who is ready to put their option money where their mouth is? Or is everyone scared? :P

 

 

Jacin L.

Edited by jtlab

Share this post


Link to post
Share on other sites

×
×
  • Create New...