New Year, New Goals
Happy New Year, Lady Landlords!
Whether you spent the holiday season with friends and family, by yourself, or hard at work, I hope it was filled with cheer.
And just like that, we are into another year of our investment journeys.
Goal setting is crucial to achieving your real estate dreams. Creating bite-sized steps to work with is vital in getting stuff done. With a new year fresh and ready for us, it is the best time to start making our list of goals, ready to head into the new year feeling prepared.
Clear goals equal clearer objectives
For me, there are a few investment goals I’m hoping to achieve in 2023. Listen to our full episode on the Lady Landlords Podcast here.
My first goal: Buy another property in the Dominican Republic.
This country holds a special place as its my husband's home country, so to own property here is not just a financial decision, but a heart decision. It also gives me a good enough reason for more business trips… I mean holidays… to enjoy the sun, sea and sand.
That’s the kind of lifestyle freedom real estate investing can give you!
My second goal: Another Multi-family in NY
The New York housing demand is at an all-time high, and I am very interested in purchasing another multifamily there. A multifamily is one building with several independent living spaces with their own address, kitchen and bathroom. An apartment, triplex and townhouse designed to house multiple people in separate residences are all examples of multifamily. They can be typically easier to finance, compound returns more quickly, and usually benefit from economies of scale.
My third goal: More Passive Investments
Syndications are a great opportunity to partner with multiple investors in a real estate purchase. Combining your capital with other investors opens the possibility of purchasing a property that otherwise wouldn’t be available to you financially. Or also as a tactic to not put all your money eggs into one basket. The property will be a joint responsibility, so whether you need to buddy up for financial reasons or because taking sole care of a property isn’t something you want to do right now, syndication could undoubtedly be some food for thought.
Last year, our community raised $1 million dollars to invest and this year I hope we double that number! To learn more about our group investments, watch this!
Let’s make life easier this year for more sand-between-our-toes moments.
Need help? See if the Lady Landlords Mentorship is right for you here.