Goals for 2017

@sash - I'm not a charity - don't worry. Looking at diversity and affordability just means that it will be cheaper than a 3 x 2 but still profitable for me.
I do like thinking outside the square though, so happy to run with scissors



There is a good analogy which I think will be true and relates to the resi IP market. You can reduce the size of an product and charge the same for it or even more per sqm. A litre bottle of coke costs $2/ltr but a 200ml can is $10/ltr - yet the 200ml can is now one of their most highest selling products. The 200ml can was introduced to cater for a market that didn't want a litre bottle (house) or a carton of 375ml cans (apartment).
So I'm building 200ml cans

 

Yep...each to their own....but I can't see that happening in the current Perth market.

What are you trying to sell these for?

I am seeing houses at land value in the North build in the 80s/70s near Clarkson at land values.....so the question is why would they buy a 1 brm T/H over a 3x2x1 house near land value (land value is about 280-330k house at about 330-350k). A quick 10k reno will make it very nice.

 

Me too, shoebox premium

 

@sash I agree there is not much between the two besides location, amenities and newness. Old Clarkson is pretty good value compared to new Clarkson.
Clarkson one bedroom apartments range from $300-350k in Clarkson so I have done sums on $325k. In Highgate they are valued $500-525k

 

Enjoy the 6 pack while you can, because later on you will get the whole carton...

 

Then a keg

 

Better late than never....
More a To Do list rather than goals.
Just looking to consolidate this year before going for more ambitious stuff next year.

I'd like to focus mostly on personal and physical development this year.

• Prepare for and compete in a Masters under 45 track sprint race by the end of the year.
• General strength goals at 80kg BW - Bench Press 125kg x 3, Deadlift 200kg x 3, Squat 140kg x 3.
• Exchange contracts for a business sale allowing true full financial freedom.
• Work on improving returns on our resi properties with view to converting multiple townhouse lots to short stay accommodation.
• Buy our first commercial property/s for around 6 mil. It's been over 6 years since we've bought a property and about time we got back into the game. This should take our holdings to over 20 mil.

 

@Ace in the Hole love the masters track goal. I used to do track 400/800 many many moons ago. I want to train for masters when I'm not working full time. What event would you run? 100/200?

 

Yeah, likely 100, 200 and even 60m if offered.
Working full time and training is not easy, especially with a family too.
It's such a big commitment for what most would consider a minor achievement, but the end result will make the journey worthwhile.
This has been my goal for the last 2 years, but injuries have stopped me. Keep persisting though and if I can make it to the starting line then that's a victory for me.

It's on the top of my goal list for a reason, being the most difficult of all the goals.

 

Tell me more about your toastmaster speeches. How do you find the toastmasters in general? Have you felt you benefited from them? anything else you want to add about them? I had two people recommend them for me, hence why i am asking.

 

Financial/Career

• Buy 3-4 investment properties this year (taking me to 7-8 in total),
• At least a 10% salary increase

Personal

• Either a skiing holiday to Perisher or cheap tropical holiday to Thaliand or comparable,
• Read 20 books
  
• Run a full marathon in sub 3hrs
• Cycle the Bowral Classic (160km) and L'etape (157km)
• Go to 5 PC catch ups

 

Goals for 2017

Continue to grow the USA property business from rehabbing, holding for cash flow, commercial and developing (apartments/townhouses/houses).

Currently on the books

3 X Development site (multi Units - 1 site is subject to seller obtaining permits)

5 Townhouse development project to commence construction in February/March 2017

1 X Single Family Development Site

1 X Proposed Hotel Development site (a block away from new Atlanta Falcon stadium)

1 X Buy 'n Hold Cash flow Duplex

5 X Rehab projects (for quick turnaround on profits and Trades' Trial)

1 X Proposed Be Developer USA Office site.

We just settled on the Multi (quad) which we are converting into a house and flipping, I posted this today for anyone interested in viewing the numbers.

On the table

currently negotiating a commercial property for cash flow, top location and on 3 acres of land, this one has a twist, we can develop this site and add significant value. Still a work in progress.

I have also started looking at 2 other markets in USA with potential.

Its all steam ahead at the moment and currently with what we have in play there is a high possibility I will be moving to USA in the very near future, the opportunities that present in this market is massive, I am like a child in a candy store at the moment.

 

@euro73
Is the wedding you attend happen to be in Pullman Hotel Grand ball room on Saturday 7th Jan?

 

Pretty modest year ahead to be honest.

2017 Financial Goals
1) Complete the BlackMinster Project and sell for huge profits
2) Continue to clear off debt
3) Purchase another development site.
4) Purchase shares
5) Set up and start operating company
6) Bulster savings

Life Goals
1) commence construction on my parents house, which closes out their retirement plan
2) Learn to surf properly
3) Read 24books
4) Improve fitness and strength

After such a flat 2016 I am struggling with motivation at present. Hopefully keeping focused on the above will see me make some progress this year.

Blacky

 

My 2016 goals failed... Mostly because my borrowing power reduced more than I would have expected! So I am taking a break from purchasing. Still house hunting for friends and family.


2017 Financial Goals (Note: No further borrowing power)
1) Keep saving a minimum of $600 a week (fair bit more if I get overtime)
2) Find more secure employment within my field of interest (casual wages are inhibiting my borrowing as contracts stop and start)
3) If IP1 tenants don't renew consider painting ($2k), new carpet ($3k), laundry works ($1k) and a new bathroom ($6k), six week vacancy ($2k). $14k reno should increase market rent by approx 40-50pw. I hope the tenants stay because they look after the house really well and they are super easy to deal with. Rent is currently $15-20 under market rent... They have previously told me they are looking at other housing options, so I am making sure IP1 remains an attractive option for them Working so far.. They have extended twice (six and nine months contracts) since they said they wish to move.

2017 Personal Goals
1) Get back into horse riding (I have already bought a horse)
2) Get my fitness back (see previous goal)
3) Give serious thought to further study options in related fields (Tafe and Uni)
4) Put more effort into maintaining friendships, most of my friends live interstate now (moved for work).
5) Getting healthier to be more organised so I can increase my productivity of an evening
6) Put effort into being a better daughter.. This involves being less honest and being more supportive of decisions I think are silly.
7) Get my fruit and veggie patch going (2016 was a good practice year)
8) Improve my homesteading skills such as preserving (see goal 7)
9) Be more hands on in fundraising for my favourite not for profit. (Fun fundraising such as holding events)

 

What king of goal settings templates/formats do you people use?
I found real benefit in incorporating some of the SMART approach to setting goals. I write out the goals in a Specific, Measurable and Timely way. For example earn 20% more to my current salary by the end of the year.
I would then list out how I would achieve that. Example: List out potential roles that interest me, ,approach senior manager for advise and understanding of what the role involves. Raise my profile by engaging other senior people. Learn or practise any skill or software that may be required for that role. Backup plan, update resume, check relevant roles in external market every second day etc.

That way its not some nebulous goal that I am not really sure how i will achieve. But has a much greater probability of being released.

I categorise my goals into personal, career, family, investment, home etc.

 

I dont have it so formalised.
But generally I have 'the end in mind'. Then annual short term goals.
My end goals are generally agressive by 2-3years on what I think is actually an achievable target. Generally people will underestimate what can be achieved in 10years, but over estimate what can be achieved in 1.
The long term goals set the direction. The short term feeds into that.
A couple of years ago, in January I also started completing a balance sheet, and track it year on year to see progress. Gives me confidence Im moving in the right direction.

Blacky

 

No. I was in Bekasi. Then Nusa Dua ... now back in Sydney

 

Well achieving my goals is off to a good start with the painting of the bedrooms all done. The new driveways are booked in for excavation on the 21st of this month and getting poured the following Saturday.

 

I attended a wedding last Saturday where the groom's brother in law is an Aussie bloke from Sydney.

We were curious if he was you.
The world is not that small after all