How did we do? Our goals were simple:
1. 6 additional rental houses
2. Buy-sell 18 houses for profit
3. Raise $500,000 in private money
With a last minute purchase we got accepted on Dec 23rd and closed on the 30th, it brought our total buy-sell purchases to 16. We ended up landing 4 rentals (all of which came in the 2nd half of the year). As far as raising private money, we well exceeded the $500k goal. Overall, not too shabby.
The last few months of the year we proceeded extremely cautiously as this market tries to figure out which direction it wants to go. We slowed our acquisition way down, only picking up 2 rentals and one flip in November and December. On the whole we are very satisfied with our progress this year and will be posting our 2011 goals very soon.
I’ll also be updating our progress on the “Cash Flow Challenge”. Real progress has been made and the challenge has already been a success as it has succeeded motivating us and keeping us accountable to acquiring that “get out of the rat race” cash flow.
As for next year, I expect it to be the best year yet for investors! Continued low prices and motivated sellers along with rock-bottom interest rates. Can you say “perfect storm?” Post a comment and let me know what you think.