My Real Estate Goals for 2018 including Making $100,000 a Month Flipping Houses

Every year I make specific goals for my real estate business and my life. I publish my real estate goals, but keep some other goals to myself. Goals have been an awesome way to give me something to shoot for. They have also been extremely important to my success. For a long time I did not set goals and just floated along in life hoping something great would happen. When I took charge of things by setting goals, learning about self help, and researching how to make money, things took off.

You can see my previous goal articles here:

My goals for 2014
My goals for 2015
My goals for 2016
My goals for 2017

My all time greatest goal is from 2014 when I bought my Lamborghini

I also love to make big goals that I may not accomplish. I feel that the point of a goal is not to achieve it, but to make us be better. I had a goal to flip 30 houses in 2017, but I only flipped 26. Was I disappointed? Hell no! I am making a bigger goal in 2018 to make $100,000 a month from flipping, which will take about 36 flips.

https://investfourmore.com/2014/09/05/setting-goals-will-make-successful-life-real-estate/

What were my goals in 2017?

In 2017 I made some really big goals and it was a great year, but there is always room for improvement. Part of the fun in life and business is figuring out better ways to do things and seeing those new practices pay off. Here is what I wanted to accomplish in 2017:

1. I wanted to buy a 50,000 square foot or larger commercial building.
2. I wanted to flip 30 houses in 2017, which would have been 12 more than what I flipped in 2016.
3. I wanted to sell 200 houses as a real estate team. This has been my goal for many years, but I keep coming up short.
4. I wanted to publish 2 new books from my blog and hire more help for the website.
5. I do not discuss all of my goals publicly, but I did mention the possibility of buying a Lamborghini Countach or Aston Martin in 2017. I did not make it a goal, and really did a poor job with this last year!

How did I do with my goals in 2017?

On the surface it may look like I failed with many of my goals, but I am really happy with how the year went. You cannot get upset or made when you do not accomplish goals. If you accomplish everything, your goals were not big enough.

1. I did not buy a 50,000 square foot building. However, I had one under contract that fell apart due to circumstances beyond my control. I also have another 70,000 square foot building that is under contract and set to close the end of January.
2. I sold 26 flips and bought 27 flips in 2017. I was really close to 30, but did not quite get there. I thought I would sell 30 flips with a few months to go, but delays on multiple projects set me back, which always seems to happen.
3. We sold 96 houses as a real estate team. I was not close to selling 200, but our average price increased quite a bit. I have thought about re-wording my goals to for dollar volume, instead of number of sales.
4. I did publish two new books and hired multiple new people to help with the blog. Most of those people did not work out, but I have found a couple of great resources.

There were also some things I accomplished this last year that I was not expecting and were not goals.

1. I bought a 1998 Lotus Esprit V8 twin turbo. I was not planning to buy this car, but I have always loved the Esprit. One came up for sale on eBay that was a great deal and the perfect color. You can see the video below.
   

I bought four rental properties in 2017! I was not planning to buy any, except for one large property, but I found a niche I like in the area. I bought four commercial properties that are all rented and cash flowing better than residential properties in area. You can read about all of them here.

I bought a small commercial shop to store materials for my flips and rentals, as well as have a place to store a couple of cars.

I ended up buying 31 properties in 2017, which is an awesome accomplishment for me. I was hoping to buy 30 flips, but I am really excited that I was able to buy rentals as well. For 2018 I plan to change up my goals a little bit.

What are my Goals for 2018 in real estate?

I have been thinking about and working on my goals for 2018. I try to spend quality time on them and not just throw them together. The better my goals are, the more successful and happier I will be. Here is what I have planned for this year:

1. I want to make $100,000 a month flipping houses. My goal last year was to flip 30 houses, but I could have done that and made no money at all or lost money. That is not a very good goal. I averaged about $32,000 in profit on each flip last year, which means if I flip 3 houses a month, I will come close to making $100,000 each month. With this goal I have to think about profit margins and not just how many houses I am buying. I have three houses set to close in January of 2018, and many more listed or ready to list the start of the year. I also have 3 flips under contract to buy. You can see all the properties and numbers here: https://investfourmore.com/flips/
2. I want to add $6,000 a month in passive income in 2018. Instead of creating a number of properties I want to buy, I decided to create a passive income number since I think that is more important. With the large building I am buying in January I should create about half of that number. I figure I would need to buy about 6 more smaller properties to get the total to $6,000 a month. This is not in line with my plan to buy 100 properties, but I do still have that major goal I want to accomplish.
3. I want to start my own real estate office. Part of my plan to buy a large building is to start a new office in that building. I never wanted to start an office before, because many of my REO and HUD accounts were tied to my current office. There was no guarantee that those accounts would move with me, if I moved. I have decided I like flipping much more than being an REO agent, which works out great since there are almost no foreclosures in Colorado. By starting my own office I will save a ton of money on expenses and have my own space I can do whatever I want with. I will use this as my real estate team goal this year, instead of a sales number goal.
4. I will buy an Aston Martin V8 or Lamborghini Countach this year. In fact, I am already working on this goal and it is close to being accomplished.

I have more personal goals this year, and goals for this blog as well. However, I am basing the blog goals around income so it is more measurable. I have decided not to disclose that goal publicly, but if you really want to know you can email me. [email protected]. If you think you have ideas for the blog you are welcome to let me know as well. However, I get tons of emails from people who want to do guest blogs, or help me with SEO. That is not what I am looking for.

These goals are more specific than they have been in the past, which should help me know exactly what I need to do. I can also break down these goals into smaller tasks to figure out exactly how to accomplish them. With the flipping goal I know I need to sell three flips a month with a profit margin of $33,333.

Here is to a great 2018! What are some of your goals or do you set goals?