Goals, Updates and Changes for 2014

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Just as everything in life is a work in progress, so too is this blog.  Having read through many of my previous posts, I realize most of the posts are more academic (aka: dry).  In 2013, I tried to write within the self imposed bounds of “Real Estate Investment”.  Life is more colorful than simple real estate investment, so in 2014 this blog shall morph into a more colorful tale of my (and my family’s) journey to financial independence (FI).  I also have more to say than just real estate investment, just ask my brothers (and probably my parents).

To kick things off, I’ve set my goals for 2014.

2014 Goals:
HBS Real Estate-
1) Add an additional $1,000/month in cash flow (forward looking cash flow)
2) Purchase a minimum of 3 additional rental properties
3) Use unique financing on at least one property (eg. Owner financing, 0% down, etc)
4) Leverage at least an additional $200,000
5) Identify a headquarters for HBS to move the business out of my garage.

Personal Goals:
1) Finish the wood stove room (the picture was taken before my daughter was born…she’s well past 1 year old now)
2) Get master bedroom finished to drywall stage (with new floors)
3) Enter, run and finish a marathron
4) Bike to work at least 160 days this year (that’s 66% of the year)
5) Increase passive cash flow (excluding Real Estate Investment) to $500/year (forward looking cash flow)
6) Invest a minimum of $100/month into my daughter’s stock fund
7) Repay my daughter what we owe her (used to pay for the roof that goes over her bedroom)
8) Invest all unplanned or ‘windfall’ income (eg. Bonuses at work, tax refund, etc.)

Just as I had no idea how to rewire an entire house, I have no idea how I will accomplish some of these goals, but I’ll figure it out.

2 Thoughts.

  1. Great goals, and a few more colorful stories about HBS would be terrific.
    BTW, Baby Liam paid for the insulation over his first little bedroom in Mt. Lebanon. Insulation was laid by Dad, who had to stoop over with Owens/Corning pink fiberglass rolls in the attic for hours…he itched for weeks afterwards! Not sure you were ever paid back, but the room was cozy, so everybody benefited!

    • We’ve sort of have a repayment plan…we’ll see if we can stick with it!

      Maybe the insulation over my room started me on my first job…

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