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New Year’s resolutions have long been a way to take stock of what’s truly important in our lives, allowing us to pause and reflect on 2022 and plan for the year ahead.
According to This Is Money, more than a third of us will make a financial resolution this year.
For people in the property market, setting goals is important.
In this blog post we find out about the property goals set by those in the Touchstone Education Community.
Becky, County Durham
“My introduction to Touchstone Education was started by attending a free online webinar. I enjoyed it so decided to enrol on the Wealth Through Property 2 Day Course. I attended the last course of the year on 23rd December. I learnt a lot on those two days and decided to take the leap and join the Wealth Academy.
“My goal for 2023 includes completing the Wealth Academy Training, setting up my first business, starting to build my properties portfolio (joint venture) and hopefully start deal packaging.
“At the moment I am open to the different types of properties but I do want to consider using the equity from my current house to help my brother onto the market in 2024. This may include commercial properties as he rents a tattoo studio.
“I would like to look at multiple properties (up to 10 for now) depending on how easy I can match with an investor. I hope to leave my army career in 2024 so I hope to have a few up and running by then. For the first 2 years, quick wins and deal packaging will be my main effort as I will have to fit this around my army commitments. Once I leave the army I am open to longer term projects.
“Initially extra income would be nice, but my long term aim would be to leave the army in 2024, have enough money to get a house for me and my partner, with enough bedrooms so I can be a full time foster carer / property investor.”
Chris, Cornwall
“I found out about Touchstone Education online, on Facebook. I had been a passive, hands off landlord… but I am changing that!
“As a Touchstone student I have undertaken Wealth Academy and the Serviced Accommodation course.
“My long term goal is to set up my retirement and leave money for my children. My goal is to have passive income of £100,000 by 63 – 20 years from now.
“My goal is 10 properties over 20 years. Property for me is a long term ambition.
“20 years from now my goal is to have a portfolio of £6.5m, with only 40% of that mortgaged. I plan to pay off my house in the next 6 years and buy a house every 3 years with 50% deposits.”
James, Cotswolds
“I saw Abi’s post on social media and signed up for a webinar. I have bought two properties in my life, both to live in.
“My 2023 goal is to have at least 10 Rent to Rent Serviced Accommodation properties with a minimum of £500 per unit.
“Rent to Rent Serviced Accommodation is the starting point and we’ll see where we go. I’m hoping for many properties over a 20+ year planned career.
“Property is a long term life project. I hope to replace my income and be earning more by the end of 2023.”
Laura, Bristol
“I got involved with Touchstone Education having seen an advert on social media after signing up to the two day Wealth Through Property course. I came to Touchstone with absolutely no experience or knowledge in property investing at all. My only experience was buying the home we live in – I was a complete beginner!
“I’ve completed all of the courses on offer to me so that I could get a real flavour of what strategy I wanted to work with, given my experience, capital and financial situation.
“My 2023 goal is, in short, to do daily work on my mindset (affirmations, gratitude etc). By December 2023 I want to be earning average £5,000 profit a month with a yearly turnover of £60,000 profit as my best, £50,000 as my better and £40,000 as my good. I therefore need at least 2-3 more Rent To Rent properties and my goal is to have agreed on one Purchase Lease Option (PLO).
“I am looking at specific properties – my Rent To Rent is two-beds with parking, not apartments or flats, and my option criteria is bigger, empty properties with motivated sellers. I have narrowed down my criteria of Bristol where I know there is infrastructure and things happening or where the headquarters of businesses are located.
“I am looking at many properties. My goal is to call at least 10 agents a week (making sure I diarise to chase) and have a funnel of potential PLO properties of at least 10 per week. I am still working on how many I will offer on – dependent on what information I have on the vendor – possibly 2 a month.
“I am looking to generate cashflow with the Rent To Rent properties to enable me to invest into longer term projects and assets.”
To make the first steps on your property journey, read this free Wealth Through Property e-book.
For more information call us on 01302 897131 or email office@touchstoneeducation.co.uk.
