Goals: 2013

It’s time to post my 2013 Goals to help keep myself motivated and hold myself accountable in the next year!   I did fairly well in 2012 and if I continue the momentum my path to real estate wealth will be much advanced this year.  Let’s start with the boring J.O.B. goals, which are simply carried over from last year:

J.O.B. Goals:

  • Move-out of Daily Operations into Upper Management
  • Advise Company on Social Media Policy
  • Average a $900/mo bonus This will not carry over, focus on advancement not money.

Nothing exciting there so we’ll move quickly on to the next small set of goals, my personal goals.

Personal Goals:

  • Two Trips to Seattle   (Pretty Attainable!)
  • Go out on Dates
  • Write 3-4  MyPath Blog Posts a Week
  • Be Able to Swim an Aquatic Mile in 20 Minutes.

These are continuations of my development in 2012, and should keep me on the right trajectory to become a more rounded person in 2013.

REAL ESTATE INVESTING GOALS:

Last year I discovered the power of using SMART goals to get better at planning and setting goals.  As part of my goal of becoming more goal oriented last year, I read a lot about different strategies and ways to set and accomplish goals.  The SMART goal is the best way I have found to set my goals. You can read more about the whose and whys of setting SMART goals here.

DOOR COUNT
Specific Increase the amount of doors
Measurable Purchase 1 in Q2, Q3, and Q4
Attainable Use Cash flow from current operations/Refinance of Properties
Relevant Salary Substitution/Replacement from Cash Flow
Time-Bound By The end of 2013

Pretty Simple to see here what my goal is:

In 2013 I want to double the amount of doors that I have, so that I can have Salary Substitution/Replacement.   I will do that by purchasing 3 more 4-plexes, 1 each in Q2, Q3, and Q4, I will use current cash flow and the refinancing of properties in Q3 to acquire these properties.

RETIREMENT/MOBILE HOME INVESTING
Specific Invest Self Directed IRA in Mobile Homes
Measurable Purchase 2 Homes this year
Attainable Do not Spend more then 10k
Relevant Building IRA Cash
Time-Bound By The end of 2013

I read Lonnie Scruggs book Deals on Wheels a couple of years ago and think that it’s a great low barrier entry to real estate investing, and I’d like to use my IRA to purchase Mobile Homes.  So the Goal reads like this:

Purchase 2 Mobile Homes in 2013 with my IRA fund, spending less than $10k total on the two, and generating $450/month in cash from the owner financing on the homes.

NETWORKING
Specific Develop a Relationship with C.B.
Measurable Close a deal
Attainable Work with G.P. to secure first deal
Relevant Develop my first Private Investor
Time-Bound 2013

This is the Goal that if accomplished early this year could change the course of everything I am doing in 2013. C.B. could be that jump-start from biting the little pieces floating around, to becoming a major investor very quickly:

In 2013 close a successful deal with C.B. to build a lasting business relationship that will catapult my REI career ahead of my goals.  Work with G.P.  & C.B. to do the Million Dollar Deal.

CREDIT SCORE
Specific Increase Credit Rating
Measurable Purchase a car on credit, remove all negative comments
Attainable Envelope Save: $100/wk at Down Payment pull trigger
Relevant Raise Credit Score
Time-Bound April

Simple.  But I need simple goals to help master the more difficult ones.

I will put a crisp $100 bill in an envelope every friday.  When the envelope has $1100 I will use that as a down payment to buy a car. I will use financing to get the car and hold the account open for 24 months before paying off the car.  

TAXES
Specific File Taxes/ Fund IRA
Measurable Fund 2012 IRA Contribution limit with 2012 Taxes
Attainable
Relevant
Time-Bound February

Last year I waited till the very last-minute to file taxes.  And that is why I failed to fund my IRA contribution for 2011.  I want to file my taxes so that I can fund 2012 and 2013.  To do that I need to have received my return before April 15th.

 

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