Phase 3 Begins

$11,882.83. That’s what I have in my account right now. It’s safe to say that I didn’t reach my 15k quota for December. While I knew I wouldn’t reach my quota, it’s still a pain to feel that sense of failure. So I begin Phase 3 (Property Acquisition and Tenant Management) on a down note.

Phase 3 is here and I’m pretty excited about how things will go in 2012. December of 2011 wasn’t a complete failure though, as I started the month at $8100 and ended with almost 12k. In fact, it would have been 12k if I didn’t have to change the pay schedule for my not-so-bright tenant Nicky. Nevertheless, not having 15k to begin Phase 3 means I have to change my projections for 2012 just a little bit. By the end of this month I should be able to afford the short sale property with ease. After that, I have to plan very carefully.

From February on, I have to save up money for the next 4 unit building, property Delta. My hope is to get a 4-unit building or maybe even a cheap commercial property that won’t cost much to fix up. The goal for this year is to have 2 new properties that make me a combined $2500 a month, plus at least 10k in my account by the end of the year. I’m hoping to buy property Delta by October 2012, giving me November and December to make 10k. I’ll come up with a more detailed plan later, as this is just an outline of what I want to accomplish.

The biggest variable will be how quickly I can adapt to managing more units. Right now I’m managing 6 units, but by the end of the year I’ll be managing 14. I’m sure things will get tougher, especially since I’ll be working the two full-time jobs. But both jobs are fully staffed and the shipping depot especially seems to have calmed down quite a bit. This year is all about growing. This year is about building the foundation to my stand-alone real estate business. This year is about ensuring that 2013 will be the last year I ever have to put on these god-awful security uniforms. This year is the beginning of Phase 3 and I’m ready.