Last Updated on March 29, 2023 by Mark Ferguson
Every year I set goals for myself and my business. I also post those on this blog and on my social media accounts as well. This keeps me accountable for my goals and helps me pay attention to them all year round. I like to make huge goals that are very exciting to me and sometimes weird to other people. I also like to make different types of goals each year as I learn what works well and what does not over the years. Most of my goals are real estate-related but a few are personal or business-related as well.
My previous goals and how I did
Every year I write this article that goes over my previous goals and my future goals. You can see those other goal articles from previous years below:
Things have changed over the years as my business has changed and new things have come into my life. I started a real estate brokerage, started investing in commercial real estate, wrote many books, started brick-and-mortar businesses, and much more.
What were my goals for 2021?
2021 was a crazy year and a year when I thought things might get more normal after covid but we kept dealing with covid and still are. I still did many new things and had a great year even though my goals did not pan out exactly how I had hoped.
Flip 27 houses
The most flips I have done in a year is 26, which I did in 2017 and 2018. I flipped 23 in 2019, 15 in 2020 and I wanted to flip 27 in 2021!
I did not reach my flipping goal again! I sold 16 flips in 2021, which was well below the 27 I was hoping for. However, the market keeps changing and I bought different kinds of flips in 2021. I have usually only flipped single-family homes but in 2021 and at the end of 2020 I bought some multifamily flips. With multiple units, it is like flipping a couple of houses at once. One of the flips I am working on now is a 7-unit property! You can see that video below:
Buy 70k Sqft of rental properties
I have some weird goals like buying 1 million square feet of rentals. To accomplish this goal, I have made smaller goals each year. In 2020 I made a goal to buy 70 square feet of rentals, but I fell short, I made the same goal in 2021 and fell short again!
I bought just 22,000 square feet of rentals including an 8 unit with 16 garages, a mixed-use property that will be a 5 unit property, and a 3 unit property.
Rent 35k Sqft of rental properties
In 2021 I wanted to get many of my properties rented as well. I had a goal to rent 35,000 square feet since I had some big vacant buildings.
I did not hit that number but I did rent a lot of properties. I think we got more than 20,000 square rented which still left a lot of vacant properties. Some of those properties we were still working on or in areas that were tough to fill.
Refinance $2 million worth of debt
I often use private money to buy properties and that private money has high-interest rates. The goal is to refinance that high rate into a lower rate after we stabilize the property. I made a goal to refinance $2 million worth of debt in 2021.
I did not hit that goal either but I did refinance just over one million dollars worth of debt and have another $1.8 million in progress to refinance now.
Make $100,000 online in a month
I have ambitious online goals and one of those was to make $100,000 in one month in 2021. I make money online through book sales, coaching, affiliates, and YouTube.
I did not hit this goal but I was able to have a $50,000 month in 2021.
Add 200,000 followers
I also wanted to add a lot of followers in 2021 and again I did not quite get there. I added about 75k followers. Here are my social media accounts if you want to help!
Buy a Lamborghini Countach
I have a number of exotic cars and the Countach has always been a goal. I was in a position to buy one in 2021 but I could not find the right one and prices have skyrocketed again! A few years ago you could get a decent Countach for $300,000 and a really good one for $400,000 and now you have to add $100,000 to$200,000 to that number!
What are my goals for 2022?
For 2022, I want to change things up a little bit. I have some weird goals and I wanted to tweak them a little bit to help me focus more on what is really important. You will find my new goals are much different from my goals in 2021!
Complete 36 rehabs
I have always had a goal to flip a certain amount of houses each year. However, this goal can not always show what is happening in the business. Last year we started remodeling multi-units which means one flip might be the same as five flips. We also have been buying more rental properties and rehabbing and renting those properties can be very valuable as well but force us to do fewer flips.
In 2022 I am changing my goal to be about the number of rehabs we do! I want to complete 36 rehabs on flips or rentals and this is per unit.
Add $45k a month in passive income
I have had some weird goals of adding square footage of rentals as well. I like this goal and it is easy for me to measure but I also end up with vacant square footage which is negative and not positive. For this year, I am making a passive income goal that embraces both the acquiring and stabilizing of rentals. This goal can also be accomplished with refinances or starting businesses that create more cash flow like the liquor store or mini-mart.
Refinance $2 million of debt
I had a goal to refinance $2 million of debt in 2021 and I have that same goal this year as well. After thinking about it, I may need to increase this goal since one refinance I have in progress will come close to $2 million! That refinance should also save me about $8,000 a month because it is paying off high-interest short-term debt with low-interest long-term debt!
Make $500k in revenue from Investfourmore
I had made goals to have really good months with my blog, and online business: Investfourmore. I realized the entire year is more important to focus on! I have made a goal to bring in $500,000 in revenue and we have pretty low overhead in this business. I am working with a new company to help me do this so watch out for a few new things coming out this year!
Add 200k social media followers
I am keeping this goal the same as well. We made some big progress with YouTube last year but had some negative progress with Instagram when my account was disabled and I thought might be gone for good! Luckily I got it back, but getting new followers after that has been challenging!
Add $3 million worth of debt
I stole this goal from Facebook when I saw another investor ask people how much debt they wanted to add this year. I loved this goal immediately! I am a huge fan of using good debt to build wealth. If I am adding debt it means I am buying more properties that will make me more money!
Buy a Lamborghini Countach
I am repeating this goal again and I may have to repeat it for a few years but I will achieve it eventually! I have gotten more serious about looking for a car and reached out to a few people in the industry who may know of something that is not technically for sale but may actually be for sale! I of course will keep everyone updated on this goal!
Setting goals is very important and something I do every year and keep track of all the time. It took me a while to write this article this year but I had made my goals and was keeping track of them and working towards them prior to writing out the full article on them. To learn more about goals and why I use them check this out.