So I thought it would be appropriate to start my REI adventure with some form of Mission, Vision and Goals. Not because everyone says you should have these for a business, but because I think it will help keep me focused and on track. There is a lot to be said for goals but even more, there is more to be said for WHY you do what you do. Do you agree?
So on that vein, I came up with these items and wrote them as if I were a business because I hope to make it a business, not just a personal venture. Why a business? I am not sure yet, it simply feels like that is the way I need to go to allow for growth and protection at the same time.
To be honest I don’t even have any kind of company name or entity figured out yet – that is still a part of my goals 🙂
Our Mission is to provide Exceptional rental housing in the Monadnock area and set the standard in quality rental housing while ensuring all of our 3 Star Residents have the best quality and experience in their homes.
Our Vision is to make sure our residents are so well taken care of they do not want to leave and put their families on waiting lists for our rental homes.
By 8/15/16: Have company entity defined and registered with the state. So far an LLC seems to be the most common and ‘safe’ however you can establish an LLC as a corporation as well as a member or manager llc. ICK! Figure it out.
Related Article: Business Structures from Bigger Pockets
By 6/15/17: Have one fully insured multi family rental property in ownership under the auspice of a company entity.
This is my short list. My goals may change as I read and learn more about Real Estate Investing, but for now – this is it.
So the real question is why do I want to get into Real Estate Investment? That is the easiest thing to answer – for my kids and my retirement. I truly believe that the financial future of this country is in dire straights. It is already being said that there will be now Social Security left to pay pay out when I retire. That is sad. However I do not want to depend on the government to pay my way when I retire. To be frank – I don’t know as I will want to ‘retire’ full time.
I love to do things. I would love to be volunteering full time – right now. Not when I am 65 – Right Now. Will my 401(k) do that for me? I don’t think so! It won’t even pay a third of my income for retirement. I don’t want to live in poverty at an old guy and I don’t want my children to have to pay for my retirement.
On the other side – I would like to provide for my children to follow the dreams they want and not be so focused on surviving that they miss out on their dreams as well. Why shouldn’t I be able to pay for their college education if they choose to go? Why shouldn’t they learn now how to invest in realty and have their own passive income when they graduate high school? They should!
Anyway – that is my why. I need to keep on track. Short and sweet.
Next up – some of the articles I have been reading and the resources I am taking advantage of on BiggerPockets.com
Remember – God gave it all for you – Give back with a passion!