Doug Pretorius (ON) 9 Report post Posted December 24, 2006 I thought it would be great to start a new thread to state our goals and objectives for 2007. I'd really like to hear what everyone's plans are. I'll kick it off... GOALSMy overriding goal is to bring more consistency and stability to my RE business. Although I would like to set a new record of signing 10 deals in a single month, it's more important to me to maintain a steady 1 per week throughout the year. STRATEGIESAfter a lengthy excursion in '06 into the land of pure options. I've decided to get back to my roots and focus all of my energy on SLOs in my local market. As the market slows down there is rapidly growing demand from sellers for an alternative to long listing periods or becoming landlords themselves. MARKETING* Cold calling 400 new sellers every month and following up with the same number.* "We Buy Houses" signs on the lawns of every property I acquire. I plan on offering T/Bs a rent discount for keeping the sign on their property permanently.Once the above pays off:* I will reinvest profits to send postcards to every listed house that I can't get a phone number for.* I also want to experiment with a full page ad in the local real estate papers. That's about it for now. I do have some other ideas but they will be implemented as the above bear fruit. Share this post Link to post Share on other sites
tlpadil 0 Report post Posted December 26, 2006 Excellant Idea. Goals:I hope to hope to complete 1 SLO per month. First I have to find a TB for my 4th SLO from this year. Marketing:I just started a postcard campaign to 8,000 Non-owner occupied homes here in Albuquerque. I want to be consistent and have the campaign every 3 months. The last campaign about 5 months ago gave me the Cuesta house. A guy in California got one of my postcards and called me. I also am putting out a lot of signs. I put a flyer into ValPak. I also have an ad going in the paper. tomas Share this post Link to post Share on other sites
tlpadil 0 Report post Posted December 26, 2006 Doug, when you do a SLO do have an appraisal done? tomas Share this post Link to post Share on other sites
MichaelC 160 Report post Posted December 26, 2006 Doug, when you do a SLO do have an appraisal done? tomasTomas, are you talking about when you exercise an option on a sandwich lease? Or when you enter into the deal? If the latter, then I don't normally go the appraisal route. I have a good enough feel for my market that I usually know the ballpark price from the get go. Then, to confirm my figures, I can always turn to any of the online services to pin down a price, (and I mean the services that charge a fee, not the freebies. They are generally worthless, in my opinion).You, being in NM, live in one of six non-disclosure states, making those online services unavailable. Cozy up to a Realtor and have him/her run comps when needed. Share this post Link to post Share on other sites
MichaelC 160 Report post Posted December 26, 2006 By the way, Doug, those are some lofty goals you've set. I think that's great and I know you can do what you set out to. Keep pushing! Share this post Link to post Share on other sites
<Steve> 82 Report post Posted December 27, 2006 Starting goals for '07 GOALS-Maintain and incease average monthly deals of 2 to 4 per month.-As I am now living off my REI business to transition from the full time job to part time to no day job.-Increase monthly passive income.-Increase marketing.-Incorporate rent-to-own with other investment techniques. STRATEGIES-Implement more marketing techniques - ie. direct mail.-Do more SLOs for passive income.-Realizing when REI is more profittable than spending time on the day job it's time to switch.-Take more risk to move from safety zone and move forward. Share this post Link to post Share on other sites
Doug Pretorius (ON) 9 Report post Posted December 27, 2006 Tomas, like MC said. I go by my knowledge of the market. Thanks MC! Share this post Link to post Share on other sites
tlpadil 0 Report post Posted December 27, 2006 Doug, when you do a SLO do have an appraisal done? tomasTomas, are you talking about when you exercise an option on a sandwich lease? Or when you enter into the deal? If the latter, then I don't normally go the appraisal route. I have a good enough feel for my market that I usually know the ballpark price from the get go. Then, to confirm my figures, I can always turn to any of the online services to pin down a price, (and I mean the services that charge a fee, not the freebies. They are generally worthless, in my opinion).You, being in NM, live in one of six non-disclosure states, making those online services unavailable. Cozy up to a Realtor and have him/her run comps when needed. Michael, I got comps on the Cuesta house as well as the Olympic house. I'm wondering if I'm pricing my houses to high. It is taking 4 + months to sell them and everyone wants to put less than a $1,000 down? Share this post Link to post Share on other sites
MichaelC 160 Report post Posted December 27, 2006 Tomas, listen to the marketplace. If most folks who are seriously considering your property are telling you the price is high, you might very well be. Do another analysis and see where your properties stand in relation to what has sold in the past six months. Then you'll know for sure. And if you are overpriced then you'll need to reduce that price. Fight the market and you'll always lose.As far as folks wanting to put down only $1K, don't even entertain the thought. Having gone this route myself when I was in Albuquerque, I can tell you this will give you more than your share of aggravation. These aren't tenant/buyers, these are tenants. Heck, they're not even tenants, because tenants are still required to put down first, last, and a damage deposit. And that will surely cost more than a grand.Increase your marketing, and emphasize the buzz words that buyers like to hear: low down, no bank qualifying, rent credits, stop renting and start owning, etc. Share this post Link to post Share on other sites
Adam King (MI) 1 Report post Posted December 28, 2006 Ah...here we are again with our goals. Well, I'm going to make a statement this year. I'm going for the big old seven figure check! Then I'm going to put it into a currency trading product that a friend has been investing in and move to FL in a great big house next to MC. This way we can do seminars together in our own back yards. (Literally) And when we're done, we can get trashed with all of the participants off of Coronas in a can and laugh about how freaking white I am! Those are just a few random thoughts.Adam out.... Share this post Link to post Share on other sites
Rich08 0 Report post Posted December 28, 2006 Close 1 pure Option per month. Close a minimum of 8 additional deals between wholesaling, cash, short sales and sub2. Net a minimum of 300k. Nothing too lofty yet. Share this post Link to post Share on other sites
nck-mail 0 Report post Posted December 28, 2006 I'm inspired reading other people's goals. Is it just me or do all of you live around people (including family) who have no aim in life, who like New Year's for the liquor rather than the opportunity to sit down & plan, dream, write goals? I never tell anyone close to me what I'm doing; I made that mistake once. But not twice. My goals: Net $80,000-$100,000 by year's end doing option flips, lease options - staying in the pretty house realm. Get out of the $40k of debt racked up by all these courses I've bought over the years Better utilize the IRS to pay off that debt (it's all deductible to some degree, but I gotta take it!) Get to a comfort level for cold calling (it still turns my stomach, though it's an effective use of time). Consistently put out at least 10 buyer & 10 seller signs a week (gotta find someone who'll do it) Drop my remaining 20-25 lbs of baby weight, now that my baby is a toddler, and get back into gymnastics. That should keep me busy. Thanks for so much support here; I stop by everyday to learn & be re-energized. Happy, Most Prosperous & Blessed New Year to ALL! ~Naomi Share this post Link to post Share on other sites
813equities 0 Report post Posted December 28, 2006 Ah...here we are again with our goals. Well, I'm going to make a statement this year. I'm going for the big old seven figure check! Then I'm going to put it into a currency trading product that a friend has been investing in and move to FL in a great big house next to MC. This way we can do seminars together in our own back yards. (Literally) And when we're done, we can get trashed with all of the participants off of Coronas in a can and laugh about how freaking white I am! Those are just a few random thoughts.Adam out.... Hahaha, Adam count me in, I'm probably the whitest dude to ever be born and raised in Florida. I love your goal too, as well as everybody else’s. I hope everyone exceeds what they set out to do this year. As for me...I'm going to be working with MC, and I'm very optimistic! We started late this year, and to be honest the timing couldn't have been worse for me, and all of that crap is out of the way, so it's time to make some moves. My goal is to do at least one deal every month after my first Lease Purchase is completed. I say that because I feel after my first deal is done, I'll have the momentum in my favor to exceed that goal. And a deal a month doesn't seem scary at all. I know I can do it. I also want to test everything I do that works, and doesn't work, and set up systems for my business to make thinks run more smoothly and automated. Share this post Link to post Share on other sites
Adam King (MI) 1 Report post Posted December 29, 2006 My goal is to do at least one deal every month after my first Lease Purchase is completed Good for you. This is a very realistic goal. It is ssssoooo easy to pick up one deal a month and make $20K from that deal doing an SLO. You may not realize it all right now, but it's money in the bank waiting for you!That's $240K a year!!!Not bad at all,Adam Share this post Link to post Share on other sites
Rich08 0 Report post Posted December 29, 2006 My goal is to do at least one deal every month after my first Lease Purchase is completed Good for you. This is a very realistic goal. It is ssssoooo easy to pick up one deal a month and make $20K from that deal doing an SLO. You may not realize it all right now, but it's money in the bank waiting for you!That's $240K a year!!!Not bad at all,Adam Would that be $20K when the t/b actually purchases the property? If so aren't the real numbers somewhere around 1 in 10 t/b's actually ends up purchasing the home. So to actually make 20k a month wouldn't you need to do considerably more than 1 deal a month. Perhaps as many as 10. Ofcourse this does not include the cash flow and the option money they put up front. But am I missing something else here. Don't get me wrong, I like lease options. I will not do normal rent with my properties ever again. But with that being said I realize that the t/b will probably not buy the house, and my $20k payday will be postponed. Btw, once again I am not trying to be negative or a smarta$$. Just always looking for another perspective. Share this post Link to post Share on other sites
