Summary My Plan to Purchase 100 Rental Properties 10 Years Later and My Goals for 2023 - YouTube (Youtube) youtu.be
5,103 words - YouTube video - View YouTube video
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The speaker discusses their experiences and adjustments in their goal of purchasing rental properties, including investing in commercial rentals, facing challenges with rising prices, and learning from the process.
Slides
Slide Presentation (7 slides)
Key Points
- The speaker initially set a goal to purchase 100 rental properties but adjusted their plans to invest in commercial rentals instead.
- They have faced challenges due to rising prices and have decided to sell some rentals and reinvest the capital in other markets.
- The speaker has invested $300,000 and built up equity of $1.5 million.
- They have faced difficulties finding rentals with good cash flow and are exploring opportunities in other states, including Florida.
- The speaker has realized the importance of buying more properties instead of paying off mortgages early and setting smaller, more manageable goals.
Summary
569 word summary
In this summary, the key points from the original text are highlighted and organized into separate paragraphs to distinguish distinct ideas.
Paragraph 1: The speaker expresses appreciation for comments, shares, and likes on their videos and mentions that they will continue to post videos about their properties and business ventures.
Paragraph 2: The speaker discusses their goals for the upcoming year, including their goal of purchasing 100 rental properties. They acknowledge that this year may not be as eventful as the previous one due to uncertainties in the real estate market and interest rates.
Paragraph 3: The speaker emphasizes the importance of setting goals and staying accountable throughout the year. They mention that sharing their goals helps them stay focused and avoid distractions.
Paragraph 4: The speaker talks about recent updates to their store, including adding a mop sink and expanding their food license to offer more food options. They mention that they have more plans for the store.
Paragraph 5: The speaker mentions obtaining a food safety license and sets a goal to increase revenue from $65,000 to $95,000 per month.
Paragraph 6: The speaker discusses their goals related to buying and rehabilitating properties, including purchasing $2 million worth of rental properties and completing twelve flips. They also mention their intention to avoid buying large vacant properties.
Paragraph 7: The speaker talks about their goal to sell twenty properties in the upcoming year to generate cash flow. They also mention buying a Lamborghini as a dream come true.
Paragraph 8: The speaker reflects on their progress towards their goals in the previous year, including refinancing $2 million of debt and adding passive income. They discuss their strategy of using private money and then converting it into long-term bank loans.
Paragraph 9: The speaker mentions their social media goals, including reaching 250,000 followers and earning revenue from social media platforms like Facebook.
Paragraph 10: The speaker discusses their goal to make $500,000 in revenue from investor coaching and mentions their plans to explore new strategies.
Paragraph 11: The speaker talks about their goal to refinance $2 million of debt and mentions a successful refinance with a local bank. They also mention the importance of debt in their business.
Paragraph 12: The speaker reflects on their goal to add $45,000 per month in passive income and acknowledges that they did not reach this goal. They mention the challenges of selling properties and the need to focus on cash flow.
Paragraph 13: The speaker discusses their goal to complete thirty-six I set a goal to purchase 100 rental properties, but I have adjusted my plans over the years. I started buying commercial rentals instead of single-family homes and faced challenges due to rising prices. However, I have still achieved a lot and learned from the experience. I have invested $300,000 and built up equity of $1.5 million. I have also decided to sell some rentals and reinvest the capital in other markets. I have faced difficulties finding rentals with good cash flow and have started looking at other states, including Florida. I have realized that paying off mortgages early is not the best use of my money and have focused on buying more properties instead. I have set goals for future years and understand the importance of breaking down big goals into smaller, more manageable ones. Although I haven't reached my goal yet, I have learned a lot from the process.