The business vision is to have 24 doors within 5 years:
Starting with very little in the way of capital...how does this look?
Purchase one positive cash flow property (using the REIN principles) in the first year, the second year we would purchase 2, giving us a total of 3 properties by the end of year 2. In the 3rd year would implement a strategy of buying as many doors by end of the year that we held the year prior, which would see us buy 3 positive cash flow properties bringing us to 6, by the end of year 3. Year 4 we would buy another 6 (trying to stay to our plan, and would put us at a total of 12 positive cash flowing doors by the end of year 4. Year 5, buy the previous years total of 12 bringing us to a total of 24 revenue properties.
Totally out to lunch? Or just a grand vision that will require significant effort on the front end so the back end can take a rest
It seems very doable...developing the capital to make such purchases, in the first two years should be no problem, but the the remaining years the total acquisitions begin to rise to a number that, to a novice, appears to be reaching...but it is my vision.
I have laid this 5 year plan out, along with other personal/ spiritual and vocational goals on that time frame. I have then broken that time frame into annual achievements (year 1 year 2 year 3 and so on), and then broke the annual achievements into monthly action items (January of year 1 etc), weekly action items and then finally daily action items.
This process has been very exhausting, but equally empowering and eye opening.
I look forward to watching it unfold and staying the course day by day to reach the goal 5 years from now.
Regards,
Dave.
Starting with very little in the way of capital...how does this look?
Purchase one positive cash flow property (using the REIN principles) in the first year, the second year we would purchase 2, giving us a total of 3 properties by the end of year 2. In the 3rd year would implement a strategy of buying as many doors by end of the year that we held the year prior, which would see us buy 3 positive cash flow properties bringing us to 6, by the end of year 3. Year 4 we would buy another 6 (trying to stay to our plan, and would put us at a total of 12 positive cash flowing doors by the end of year 4. Year 5, buy the previous years total of 12 bringing us to a total of 24 revenue properties.
Totally out to lunch? Or just a grand vision that will require significant effort on the front end so the back end can take a rest
It seems very doable...developing the capital to make such purchases, in the first two years should be no problem, but the the remaining years the total acquisitions begin to rise to a number that, to a novice, appears to be reaching...but it is my vision.
I have laid this 5 year plan out, along with other personal/ spiritual and vocational goals on that time frame. I have then broken that time frame into annual achievements (year 1 year 2 year 3 and so on), and then broke the annual achievements into monthly action items (January of year 1 etc), weekly action items and then finally daily action items.
This process has been very exhausting, but equally empowering and eye opening.
I look forward to watching it unfold and staying the course day by day to reach the goal 5 years from now.
Regards,
Dave.