Friday, January 1, 2010

Top 10 New Year's Resolutions for Real Estate

As I think about the last 8 years that I have been investing here, I think about all the mistakes that I've made and how much money they've cost me. Tons. For that reason, I want to put up the top 10 things that I will do differently in 2010.

1. Do not hire relatives. If I do, it will be because I did not know that we were related.
2. Get a written estimate on a Statement of Work before starting any job. This is such a basic rule, but it's amazing how comfortable I get with my workers once I get to know them.
3. Hire a property manager that speaks Spanish. I'm in California's Central Valley for crying out loud! My current management company refuses to service my Spanish speaking clients, so I'm not giving them any more business.
4. Buy more California properties. I bought 2 rehabs in 2009 and then life happened and I slowed down. My goal this year is to buy at least 6 more properties with partners.
5. Flip more properties. I had alot of deals come through my hands that I could not close and could have flipped. Lack of time and attention cost me thousands. Not in 2010.
6. Complete my ebook on flipping properties and make it available on my website by February 1. Procrastination is my crime here because that book is 90% complete. Shame on me.
7. Complete the online course, "Jump Start your Real Estate Investing" and make it available on my website, www.JumpStartREI.com by February 1. Again, that course is 90% completed. Double shame on me!
8. Wear makeup and high heels more often. It sounds unrelated to real estate, but the frumpy look is very common when you're fixing up a property and I hate that look. It makes me lazy. I resolve to do all my walk throughs in high heels and full makeup in 2010.
9. Speak at as many Real Estate Investing Association meetings as I can book and promote my online education products. I can wear my makeup and high heels there too.
10. Have more fun. This business has its ups and downs, so I need to make sure I'm always having fun.

There you have it.