Investment Selection Criteria

My ultimate money goal:

Acquire ownership of a generous source of income that flows to me regardless of any job.

Execution

1. Minimise personal debt

2. Create an independent investment pool of $500 per month that sits for emergencies and earns a minimum of 5% per annum

3. Invest in property in such a way as it immediately returns a positive cashflow outcome

4. Help others to understand investing strategies and in doing so cement my own understanding broaden my investing knowledge.

Accountability

I’m accountable for my results to myself, my business partner and my wife.

2003 Goal

1. To keep personal dent to a minimum.

2. To have my emergency savings account increase by a further 40%.

3. To acquire a further $20m in property.

4. To invest the time and resources to make PropertyInvesting.com the #1 property investing site in Australia

5. To always have fun and be passionate about helping people knowing that money flows rather than being an outcome.

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Remember that success comes from doing things differently.
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Here goes,

Final Money Goal (Greater than this year)

1. To be free.
2. To acquire assets that yeild me a passive income of $200,000 per annum.

This Years Goals

*Property
1. To acquire wraps that will nett me $20,000 pa.
2. To complete Renovation projects that will gross me $100,000 on resale.
3. To but 10-12 Positive cashflow properties.
4. To reduce my overall debt vs value. (Increase my wealth)
5. To completely pay off my “bad” debt on my Own house.

*People
1. To spend more time with my beautiful wife and two beautiful daughters.
2. To invest my time in 3 other people this year to help them toward their financial goal (Don’t know who yet).
3. To give time to this forum to aid others on their journey.
4. To start a property investing group in Brisbane that will encourage people to make “positive” decisions.

*Philanthropy
1. To increase my giving of time to charitable organisations.
2. To increase my financial giving to charitable organisations by at least 50%.

*Philosphy
1. To spend focussed time once a week to increase my knowledge about life, money, and all that jazz by listening to experts in their fields (DVD, tapes, etc. This excludes my continuous reading).
2. To spend time every day increasing my knowledge and relationship with God.

*Pastimes
1. To lose 20 kilos and get a lot fitter.
2. To play golf every fortnight to challenge myself with a little white ball. (drop my handicap to around 10).

Well there we have it. The five P’s
I am looking toward a big year and I am keen to get started.
Hope you guys are in for the ride.

Enjoy

AD [:0)]

A great deal of talent is lost to the world for want of a little courage. Every day sends to their graves obscure men whose timidity prevented them from making a first effort.
-Sydney Smith

What a great idea to write down your goals in this forum. We went away last week to do just that and it is amazing to look back at your goals and realise that you did achieve them.

1. Buy 3 more positive cash flow properties before the end of the financial year.

2. Use the positive cash flow to reduce bad debt (our house.

3. Stop and smell the roses more often. Enjoy what we have achieved already.

4. Teach our children good money management and positive life skills.

5. Give thanks to God for what he has done for us.

Long Term Goal:

To be able to retire in 5 years with a passive income $150,000

Hi Guy’s&Gal’s,It’s good to see the different goals that people are setting even though they all have that common theme.Ifeel the need to upgrade my personal goals both for 2003 and beyond after reading these posts but Dan is right,itdoes help to write them down and read other peoples.AD when are you planning to sleep?Angie,what is your business?Maybe we can put in an order.Steve,you never cease to amaze me,$20 million more property.My neck is still sore from all the head nodding.I thought my goalof 4 positive geared properties in 2003 would be testing me out.I hope we all achieve our dreams.Awise old workmate of mine once told me that if you think you can do it,you can but if you think you can’t do it, you can’t.Happy investing,Mick.

To AD…… in your goals under PEOPLE…hmmmm help 3 people to reach their goals… here I am. I need a mentor can you be that special person. just an email every now and then will do me. im so passionate about this idea i have but friends and family just dont seem to think like me. regards tree [email protected]

money does grow on trees

Sorry, to continue on… I believe that the best way to property investing is to build a business that will give you the means to buy these positive cash flow property that you want to buy. Cause if you want to just save with the money that you earn at your average day job to go towards the property that you want to buy, I don’t think that it will be that easy to buy more than one a year.. especially if you are putting up to 20% down for deposit.. It takes a lot of effort to save like $30k for a property!

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Tomorrow, you might wish you started today.
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Dear All,
Could you clarify your criteria for Cash Flow Positive? e.g. is that after bank interest, managment fees, R&M. Or is it Gross return?

And
What do you consider a reasonable return (%) on your investment?

Cheers Isagold