mppt spotlight :: So What Are Your Goals for 2010?

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So What Are Your Goals for 2010?

by Dave Lawrence on Mon 18 Jan 2010 15:30 GMT | Permanent Link

Hi all

Having spent the last few days suffering with (man)flu I am just about back on my feet and unfortunately back at work. (have to pay the bills till I realise my dream !)

Anyway I have been catching up on emails and messages from the world and his wife and am amazed at the amount I have had from my property contacts.....or should I say i am amazed at the LACK OF CONTACT from my regular property people. Whats going on? Has everyone lost heart? Is the doom and gloom just too much for everyone to overcome? The portals and property pages I visit are not updated and from speaking to a few of the contacts I have made from attending networking events, it seems some property sourcers and brokers have actually gone bust!

Why?

The demand for investment property exceeds supply in some parts of the country, there are still mortgage products out there that allow property investors to buy using NONE or very little of their own money and there are bridging finance companies that Will fund your purchase for you !

I know Lease Options are a really useful tool for property investors, meaning that you can profit from property without owning it and then finding tenant buyers to purchase at an agreed price making profit! Yes I get it, but until I have finalised the property purchases I still have dragging on from 2009 ( both very little money in), I wont be ready to go forward using them. I need time to digest and understand how they work and how to use them effectively.

So with the state of play as it is and the property market still being very edgy I have had to sit down and plan what position I want to get myself into during 2010.

I am committed (or maybe I should be ha ha) to buying at least 4 properties this year, part of the 5 year plan I set out when I decided to get into property in 2007/8 (20 properties by 2013). Finding them is not the problem, funding them might be.....

I also want to refurbish my first property as it is a little dated and in need of an overhaul ( feedback from viewings given to my letting agent) although I don't have a massive pot of cash available and my tried and trusted builder is out of action following major heart surgery, so that may have to wait for a little while and so I will rent it out at a lower price just to avoid the void.

I also want to attend at least 1 property networking event a month and have decided to venture a little further afield this year, I am aiming to get down to the big one at Berkshire at least once, ( its very far away and costly coz I live up North).

I thought I would share my goals with you all as it may help someone else either get started or realise their own targets.

My goals are simple and realistic, therefore achievable!

What are your goals for 2010?

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Re: So What Are Your Goals for 2010?

by Dave_Paintor on Mon 18 Jan 2010 15:44 GMT | Profile | Permanent Link

Hi Dave
Good for you mate ! Hope you reach your goal early and still have the time and energy to surpass them and reap the rewards. My Goal for 2010 is to own at least 2 more properties and I hopefully if the offer I put in this morning is accepted then I am already half way there.

Have to say I have noticed the pessimism from some corners of the property investment industry also, the global financial meltdown affected every business and individual alike, however there are many professionals out there carrying on the fight and they are the ones doing business and they are the ones finding and exploring new ways of being able to use property to make a profit.

Property investment has been around for a long time and it will be a viable investment vehicle for many years to come, its just as with everything else, things change, the idea is that we must change with them and develop our investment strategies to maximise our returns.
Dave P
Here's to a very prosperous and profitable 2010 !!!

Re: So What Are Your Goals for 2010?

by administrator on Mon 18 Jan 2010 16:15 GMT | Profile | Permanent Link

Hi Dave & Dave

Its good to know that there are investors out there that are keeping the faith and are committed to going forward with the rollercoaster journey that is property investment. Well Done! It will pay off !

By publicly announcing your goals you have both affirmed to yourself and the rest of the world that you are positive thinkers, action takers and most importantly one step closer to achieving the dream.

Here in the admin block we have also collectively set goals for ourselves both professionally and privately with property, (at least 1 more each this year) and personal development (training courses already in the planning process).
We are launching new sections to the directory(watch this space as announcements will be made on here first), (one section will definitely be of interest to you Dave L as it will bring you all the information and contacts you need to renovate your property, meaning you can let your builder get some rest).
2010 can be a great year for property investors with more opportunities for everyone to profit from property!

Good Luck to you and may everything go smoothly during 2010