Goals - what are yours?

[Stevegoodey]

05 goals and beyond

My goals for 2005 are mostly life style related.

I am currently cashing up to be able to be a major buyer when/if the market turns in a major way.

so I want to get this completed within the next couple of months, still have 3 project houses to complete before then.

Want to do another "boys drinking trip" this year , although my investment and drinking buddies are scatered round the place at the moment should be able to get them togeather for a trip to asia by the end of the year.

Im also wanting to double my equity by oct 2007 when I'm planning to take a large group to the rugby world cup in France. We have already taken 36 deposits from friends and family that want to be in on this one.
and would dearly like to purchase a villa in south of france to rent as a holiday home by then rather than being the renters.


In 2010 I will be placing my properties in management and moving my family to America for a couple of years we are planning to buy a motor home and just drive off into the sunset......

I spoke to a couple of motor home companies when I was there a couple of months ago and you can buy from about $250,000usd and would lose about 25% p/a.

So really only need to leave my own home in NZ renting for $20,000 per year and I would not be going backwards.


So thats the plan would love to hear if anyone else plans this far ahead, or an I a freak

Well you gotta aim high don't you?

Steve

[Julian]

Great stuff Steve,
I like the way you seem to treat it all as just a big game - which it is! At the end of the day it's not about having the most zeros on your bank account statement, but about generating the best possible life that you can. Good on you.
Julian.

[BIGTEE]

Our goals for this year will be a total lifestyle change.

By the end of the year We plan to sell 3 of our IP's, and cash in some other investments to make our home debt free.(we are also just tidying up our portfolio)

We will also look to buy another 2 IP's, possibly in need of some reno work to increase the ARV.

Entering next year we plan to work less hours per week in our jobs, if our employers don't like it well we will just change jobs. We will aim to buy 1 IP every 3 months or so.

We will then re-evaluate our position by the end of next year as we will have enough CF+ properties to cover our basic living exp's, and we will have more options to choose our own path in life.

Regards

BIGTEE

[David-Suzuki]

My Goals are to launch two products to market, increase the value of my current portfolio 25-50 percent through development, refurbishment, and management, plus purchase more properties.

On a personal level, I want to improve my tennis, get more sleep, reach new depths in my personal and spiritual life, and have a truly mobile 'office' so I can work anywhere in the world.

No cars for me, as I hate to drive. However within 1-2 years my goal is to have access to my own jet.

[Stevegoodey]

David-Suzuki,

Wow great goals, you know what they say about aiming for the moon and you will at least end up in the stars.

[Monid]

Excellent post, now let me see if I can remember our goals!

Short term (1-2 years)
1. Find full time preferably permanent work in Academic Philosophy
(Probably the hardest thing)
2. Start small importing business bringing in specialist items (Already underway) with high returns (%400 at this stage)
3. Maintain and grow our current rental properties whilst paying both them and our own house mortgages down

Medium term (3-5 years)
1. Pay off our own house's mortgage
2. Expand our rental portfolio from 4 properties - 7 incomes to 10 properties and at least 13 incomes

Long term (5+ years)
Pay off our rental properties at an exponential rate (By diverting the income from the first paid off property into paying off the second faster and so on)
Expand our number of rentals slowly whilst keeping our LVR below %60 buying only cashflow positive properties.

Very long term (10+ years)
Be in a position where retiring wouldn't hurt the pocket book too much, though I doubt I will want to retire.
Keep expanding number of properties and chanelling the income from at least some paid off properties into paying these new properties off faster.

[David-Suzuki]

Thanks, Steve.

I respect what you are doing and follow your posts with interest.
I will keep you posted on my progress over the coming year.

cheers-
DS