Goals for 2006

[Stevegoodey]

Hi All,

I seem to remember that about this time last year there was a thread about what goals everyone was going to achieve in 2005.

I was thinking maybe we should make some bold statements about what we wanted to get done this year.

Who's going to double their equity?

Who's going to add xxx number of properties to the portfolio?

Who's want's another xxx dollars per week cash poss.

What lifestyle goals do you have?

It anyone brave enough to drag out their predictions from last year and compare?

Here's hoping this creates some interesting discussions.

Steve

[artemis]

I am going to move to a 4 day working week (at the day job).

And I do not plan to be one of the "cobbler's children" this year - all my rentals are in better nick than my own place now. By the end of 2006 it will be in good shape.

[donna]

Here is the link to 2005 goals thread and I will add my 2 cents worth in this thread shortly.

Cheers,

Donna

[cube]

Here is Another Link

[Dean@Massiveaction]

My goals, (excerpt from my soon to be sent newsletter)

1. The most significant factor of all of the above is the impact of the baby boomers and what that is going to do to housing demand in Auckland. We are going to be somewhat over run by immigrants from other parts of the country or overseas looking for housing. So my over riding strategy is to have as large a portfolio as possible under my belt before that demand hits. That next boom is going to make property investors very rich. So my primary goal is to own as much real estate as I can in Auckland. My thinking is I want enough property so that in the height of the boom, when everything has more or less doubled in value, I can sell half of my portfolio, freehold the balance using the proceeds and still have plenty of income producing property. I plan to add at least 3 million dollars a year worth of property to my portfolio.

2. Knowing that a property shortage is coming and that construction cost pressures are going to ease, my primary target property is anything that can be subdivided or have a minor dwelling added. Doesn't matter if I don't do the building for a while, but I want to own as much "dirt" as I possibly can. I have already started collecting some property that is minor dwellingable but at the moment the costs are prohibitve due to drainage issues etc. These issues will become insignificant in the next boom so now is a great time to get your foot on them while nobody wants them and they are not at inflated rates.

3. Due to the council changes it is a not negotiable that any property is totally legal. It can be illegal when I buy it, but must be able to be made 100% council proof.

4. Because it will be harder to find money in the slump my loan to value ratio is also not negotiable. For me it must stay below 65% to ensure I can get mortgages when I need them.
So that's my strategy. My rules are......

1. Neutral cashflow after tax. I have foregone my $50 pretax as I want to buy as much property as I possibly can. I don't want to walk from a deal for $50 a week now, knowing that same property will double in value by 2010 to 2012. Obviously I will buy sufficient pos cash flow deals to maintain my DSR.

2. Minimum 20% below valuation. This is becoming the norm again in Auckland as things slow and needs to be stuck to to keep the banks happy during the slump.

3. Buy anything with a twist that will ultimately turn into an additional legal dwelling. Subdivisible, sleepouts that can be converted into legal minor dwellings. 2 neighbouring properties that enable an additional section, tricky sites that are not valuable yet. Any of these, providing they meet 1 and 2, are worthy of pursuit.

4. Auckland (or other main centres) only unless the return is astronomical

[zensei]

For my wife and I, this is what we intend for 2006 :
- grow our business to earn $5k/month passive income, so one of us can 'fire' the boss
- pay off the mortgage of our own home
- purchase at least 2 CF+ buy & hold properties
- reach $1m net worth
- be in a good position to buy heaps when the slump hits!


Andre

[whitt]

Tony Robbins Free Goal setting online seminar

[Kimberly]

* 1 goal - to have 1 million in equity by the end of '06

[tamara]

Hi Whitt

Thanks for the link.

As for our goals.

Personal

At this stage we are preparing ourselves to repatriate back to NZ sometime in the middle of the year. This will take some financial doing as we are in a furnished house up here in Brunei. Our goal is to be set up and carrying no dept by the end of 2006.

Investing

1. Our goal is to create financial velocity by trading properties. Our initial goal is to create $ 100 000 dollars through this.

2. To form a network of successful property investors in our circle.


We are trying to be a little conservative this year as it is going to take sometime to move and settle back in NZ.


Tamara

[NZGEMS]

well I did a posting here last night then the computer went down so i lost it.

I do my goals in February (like to be different) but just had a look at what I set last year and I have way overacheived on some of them, and decided some were no longer what i want. so that is interesting.

So maybe later in February I will share my goals for this coming year.

Stevegoodie, you started this what are your goals? I think it is only fair you share yours if you want to hear others dont you think? I wouldnt mind doubling my equity but it is probably not realistic in a year, I like the to stretch me but not be too unrealistic.

look forward the odd time i am on here to read what others have to say.

Robyn

[kieran]

Goals for 2006

Having been a bit of a goal 'freak' for over 10 years now I take this very seriously and have achieved more than I ever thought possible through careful planning and persistence, persistence, persistence!

I am happy to give this overview on some of my goals but wont be drawn on further specifics for my own reasons.

Some of my goals remain the same every year, others are simple and easy to achieve and others are so complex some would call them impossible! That's the way I set my goals. It works for me.

1) Keep my wife happy! And give her some well deserved holidays overseas. (She is 1 of the key secrets to my success!) This one is a consistent annual goal!

2) Cash up a few larger $ properties and other assets to retire most (if not all) debt and have a specific figure of cash in bank. (I have had the luxury of a few cycles so should be able to achieve this in 2006). The over-rider is that if I can't sell assets for the $ I want then I wont sell them.

3) Complete minimum of 5 houses with minor dwellings. Retain equity profit created. I have defined the numbers but choose not to disclose publicly.

4) Pull off a 'unique and innovative once in a lifetime' property opportunity that I have been working on for some time (NO it's nothing to do with apartments!) and it is bigger than I could have ever remotely imagined until I found it last year. Donald Trump would be very proud but the odds are heavily against me for various reasons. We will see. It's a work in progress and the wheels are only turning very slowly. I am keeping details completely confidential.

5) Finish my next book which is underway. Can't even remotely disclose the content - sorry

6) Sell another 5,000+ copies of my 'Grow Rich' book.

7) Continue to build my international network of contacts in 4 identified countries.

Visit Valencia Americas Cup bases (We know a few crew members on 2 different bases who have invited us over to visit!)

9) Expand my businesses.

That's the goals I'm happy to disclose.

They all have a stepped plan to achieve them in 'Kaizen' style (ie with enough 'small steps' you can walk around the whole world!)

My absolute favourite goalsetting book = Psychocybernetics by Dr Maxwell Maltz - Click here to buy

Happy goalsetting (It needs to be a way of life and should be taught in schools!)

[axion]

Well I'm in 7th form this year so...

1. Pass NCEA Level 3
2. Decide finally what I want to do at University
3. I turn 18 in June, so would like to start thinking seriously about PI. However I'm not going to hold my breath for getting a mortgage at my age. :P
4. Get restricted license (damn I'm lazy been on my learners for well over a year )
5. Get motorcycle learner license.
6. Have fun! :>

[edit - Just looking at the time - I should think about setting a goal of going to bed at a reasonable hour ;P]

[kieran]

Just in case anyone thinks that my goal 4) has anything to do with the 'Shaky Building Syndrome' I have exposed... NO it does not.

4) Pull off a 'unique and innovative once in a lifetime' property opportunity that I have been working on for some time (NO it's nothing to do with apartments!) and it is bigger than I could have ever remotely imagined until I found it last year. Donald Trump would be very proud but the odds are heavily against me for various reasons. We will see. It's a work in progress and the wheels are only turning very slowly. I am keeping details completely confidential.

[Marc]

Goals for 2006

My absolute favourite goalsetting book = Psychocybernetics by Dr Maxwell Maltz

Hello Kieran,

Is this the correct book?

Click Here

Cheers

Marc

[kieran]

Marc,

YES that's it. I have owned it for 15 years!

Get it in your bookstore now! It is a real gem of a book, unique and hugely valuable to anyone who sets goals.

Most books tell you how to set goals but this also teaches you how to achieve them WITHOUT STRIVING AND ENDLESS EFFORT. It makes achieving goals almost effortless (I mean it!).

It has given me some simple methods and systems that have helped me achieve goals I used to only dream of (and not just monetary but in many aspects of my life).