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2020 Investment Thoughts
Dated: December 31 2019
New Years is one of my favorite holidays. I enjoy this time of year because between Christmas and New Years, its an oddly slow period of time that is perfect to reflect on the past year and set goals for the following year.
Goal setting is a different process for everyone. Personally, it's more than just telling myself what I want. Its managing expectations, being realistic and having an actual plan and resources to achieve these goals.
Reflection: In 2018, I Purchased my first multifamily investment property. Its a side by side duplex, 3 bedrooms 2 full baths on each side. Since then, put on a new roof, hired professional landscaping and did some minor repairs on my own. I also dove into a full time real estate sales position, which offers no salary and only commission as income. However, this career offers something that most jobs don't, a mentor who can teach me just about anything I need to know about the business.
My goals for 2020 are simple.
1. Pay off my wedding - $13,000 left to save!
- September 4th is coming fast!
2. Double my rainy day fund.
-Used for unforeseen personal expenses and capital expenditures for my property
3. At least double my networking events.
-I currently belong to a networking group called ProMetroNet, which is a group of small business owners in all different fields who try and generate leads for each other. I would like to join two additional meet up groups to broaden my circle of influence. This way I can help more people find homes.
4. Expand into NJ.
-Im currently a licensed real estate agent in NY. Over the past almost two years, I missed out on several opportunities to help people find homes in NJ.
5. Financially prepare fore my second real estate investment in 2021.
-Purchasing a rental property is not a decision most people can make on a whim. Planning a Purchase like this should be done far in advance, so that you can be prepared and not overextend yourself on a Purchase. This will allow you ample time to save cash, study the market and find a partner if need be.
6. Help more people.
- I became a real estate agent because I realized that I can change people's lives. Whether it's finding a great home, buying an investment property or managing a rental property, I'd like to help! Let me know how I can help YOU!
2020 is almost here. I wish everyone a healthy, happy and successful 2020! Lets Crush Those Goals!
On a mission to provide his customers with the absolute best solutions in the world of real estate and prioritizing customer satisfaction above everything else, Joseph "Joe" Baratta, has made it a po....
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