This Year I`m Going to...

[retiredby50]

Recent negative posts have got me thinking. There are two ways to look at the current economic situation, and there`s far too much negativity floating around out there, and, sadly, in here as well. Rhett Butler said something to the effect that there are two times to make a fortune, one being when times are great, the other being when everything is falling apart. The current situation, in my view, is an opportunity unprecedented in recent memory to make a fortune!
So I`d like to hear what you`re going to do to grow your business, to expand your future. What opportunities are you going to take this year that are unique to a recession that will poise you for stellar growth as soon as there is a hint of a recovery?

Are you looking to the States? Are you looking to Sask, or BC? Are you looking to Alberta`s oil sands, on the premise that all those projects are going to hit the go button as soon as things are favorable? Are you clicking your heels together, and saying over and over and over: "Food, Fuel, Fertaliser?" Has this situation changed how you`re going to go about getting money? What towns or areas are you looking at, which are presenting themselves as opportunity? What new buying strategies are you going to employ to expand your portfolio that are unique to this climate?

Rules:

1-I hereby ban all Chicken Littles from this post. This is a place to share ideas and opportunities.

2-Any mention of money you`ve lost should be followed by an explaination of how you`re benefitting, from your newly bought education.

So? Wanna play?

Finish this sentence:

This year, I`m going to:

 

[Thomas Beyer]

QUOTE (retiredby50 @ Jan 3 2009, 10:12 AM) This year, I`m going to:
a) buy more apartment buildings
b) improve our asset base by 10% or more in value through rent growth and (utility) expense reduction
c) lower our overhead / SG&A expenses
d) sell off some inefficient assets (un-clustered, too far away, too small)
e) buy a 2nd home in beautiful Vancouver
f) go on vacation 3-5 times
g) provide tremendous investor (and personal) ROI on money invested
h) look for opportunity in W-Canada and Dallas, TX
i) blog to my hearts content .. here @ myreinspace or elsewhere !
j) loose 7-8 pounds with 6 pack abs
k) donate 10% or more of my profits/income
l) speak to 2 REIN meetings (if Don invites me)
m) open a REIT like private REIT that pays terrific monthly tax preferred yield
n) develop 50+ lots in booming Yorkton, SK for sale later in 2009 or mid 2010
o) send our daughter off to UofA
p) take a course @ UBC
q) enjoy life .. as always !!


Indeed, don`t believe all the "Great Depression Hype" !! Read some perspective here:

http://network.nationalpost.com/np/blogs/f...ssion-hype.aspx

 

[mortgageman]

Happy 2009

I plan to:
a) enjoy watching my boys develop. (They are 3 and 1 year old so lots of rapid changes)
b) grow my mortgage business
c) find at least three new joint venture partners and purchase at least three more Edmonton properties.
d) improve my property management skills. There`s always room for improvement in this area.
e) eliminate some nagging consumer debt.
f) help others through contributions to Habitat for Humanity
g) more exercise so my dog and I are slim and trim! (kids are a challenge for finding time on the exercise front)

 

[Sherilynn]

Thomas, I always enjoy reading your posts! I hope that when Don invites you to speak at a REIN meeting, I am able to attend.

As for what I will do this year...

1) enlist my now-part-time-employed mom to watch my kids once a week so that I can put more time into my business
2) focus my business efforts on finding more JV partners so that we can buy as many properties as possible before the inevitable climb of Edmonton real estate values
3) channel my improved focus to my family and my own wellbeing to start an upward spiral of better health, more joy, and good karma

Ya, I know it sounds hokey, but that`s the plan nonetheless.

Sherilynn

 

[kennicoll]

QUOTE (Sherilynn @ Jan 3 2009, 12:40 PM) Thomas, I always enjoy reading your posts! I hope that when Don invites you to speak at a REIN meeting, I am able to attend.

As for what I will do this year...

1) enlist my now-part-time-employed mom to watch my kids once a week so that I can put more time into my business
2) focus my business efforts on finding more JV partners so that we can buy as many properties as possible before the inevitable climb of Edmonton real estate values
3) channel my improved focus to my family and my own wellbeing to start an upward spiral of better health, more joy, and good karma

Ya, I know it sounds hokey, but that`s the plan nonetheless.

Sherilynn

 

[klewlis]

Reduce my total debt by 25%.
Sock away some money so I can buy property in 2010.
Figure out my short- and long-term goals.
Keep learning as much as I can!

 

[retiredby50]

This year, I`m going to:

Sell my one `dog` property, hopefully to the current, excellent tenants.

Refinance my `corvette` property to take out some cash.

Get some financial things in place to get further access to capital.

Buy one cash flowing property in a town I already have picked out.

Research the possibility of opening a storage business on my current rural property.




On a personal growth level, I`m going to:

Start a publishing company for my music.

Take a music recording course(already signed up)

Finish the recording studio over my garage.

Find a mentor.

Find a volunteer opportunity that fits me perfectly.




This is an interesting exercise. I`m going to have to print this. I often don`t write these things down.

Peace
Keith

 

[invst4profit]

This year I plan on catching up on over due maintenance and increasing the value of my existing assets to increase long term rental income.

I may also explore the possibility (zoning approval) of adding a self storage business to a property I presently own.

Pretty basic but at this time I have no desire to increase my holdings.

 

[emarsig]

This year I will: (... means some details are too private to go on this site)
- Sell the Medical Centre
- Sell an Orillia building or get it fully rented
- Sell the condo conversion project and clear at least $... profit.
- Sell the forclosure property
- Build 3 houses with ... and sell them or keep them in porfolio as rentals.
- Attract 2 JV partners
- Buy 4 residential properties yielding a cap of 9% or higher in Cities with established management structures (Edmonton, Barrie, Orillia)
- Get 100% rented and positive cashflow in one AB portfolio ...
- Finish purchase of AHU
- fold one of the management companies
- Get net profit up by 0.5%
- Run 10 k per week
- Have 6 weeks vacation: 1w. canoeing, 1w south, 1w skiing, 2w up north, 1 w farm
- build the lean to my barn
- build a bakeoven with Aaron
- never allow myself to say anything gloomy
- volunteer at least for one teaching/coaching session

All of these goals are perfectly attainable.

 

[saskbrian]

This year I am going to,

1 Finish renovating the 4th suite in the 4 plex
2 Put in a basement suite in the 1/2 duplex
3 Get a contract on the Quarter section of land
4 Finish the J/V course and attract 3 J/V partners
5 Finish the Multifamily course
6 To purchase at least 3 more properties in and around Saskatoon, one of which will be my first apartment building
7 To get back on the tread mill and get back to being fit
8 To plan another backpacking vacation in Central America
9 to save enough money this summer when the overtime is plentiful so that I don`t have to work next winter
10 To go out to Vancouver in May to..... a) Meet our new grandchildren Yes it`s twins....b) Drive home our (new to us) Honda S2000 spotscar.

My wife and I believe 2009 is going to be a terrific year, filled with opportunities, even in Saskatchewan, for those of us who are looking for them.