It’s almost that time of year! As you make your list of resolutions for 2024—somewhere between “Peloton more” and “learn to make paella”—consider adding a few real estate-specific bullets to the list.
Not sure what to include? No need to reinvent the wheel. We asked two investors with different strategies, target cities, and portfolio sizes what was on their resolution list for 2024. Let these inspire your own resolution-making!
The Investor
Claire Johnston is an investor and realtor in Minneapolis and currently owns three doors. One is a single-family; another is a duplex she is currently house hacking. Her real estate investments bring in about $4,000/month.
The Resolutions
1. Build my real estate income to match my W-2 income.
2. Personally purchase a fourplex.
3. Start a real estate syndication.
Why and How?
BiggerPockets: Why these resolutions?
These goals support my overarching life goal of creating a business I enjoy working in every single day that supports me and my community. While my ultimate goal is financial freedom, I am less attached to this goal than I am to creating a meaningful and rewarding daily life for myself and those who work for/with me. Helping others, renovating historic homes, and providing safe homes for tenants are all parts of my business that I find incredibly rewarding.
BiggerPockets: How will you achieve them?
As a huge fan of New Year’s goals, I have found the secret to achieving them is making a plan at the beginning of the year outlining when you will work on them on a daily/weekly/monthly basis. A year is a long time, and it’s easy to lose sight of large goals through the ups and downs.
Creating a plan enables me to show up consistently. Even when it feels like I am accomplishing nothing or going backwards, I find that small efforts done consistently have a greater impact on helping me reach goals than when I make massive efforts but inconsistently.
I also find a…