Australian property investing - property investment goals

As you know, here at Everyday Property Investing we are very big on goal setting!  Both Den and I take the time to set our goals in several aspects of our lives, including our property investment endeavours.  This time of year is the time for laying down the challenge to yourself to make this year the most successful ever!  In the hope of inspiring you, motivating you, giving you a few ideas AND making ourselves accountable, Den and I are going to share our property goals for the year right here on the website and we’ll be providing updates on our actions and progress toward our property goals throughout the year.

So, Kaz’s 2011 property goals:

Australian property investing - property development 1.  Property Development – Get building underway on our townhouse development project.  I did want to say ‘complete the development’, however, we’re at the whim of council planning process so this may take a little while.  I’m aiming to have had our planning permit approved, selected a builder and have at the very least, commenced construction on the townhouse by the end of 2011.
Australian property investing - property renovation 2.  Property Renovation Project – We have a goal to undertake our first ever renovation project this year.  To that end there are a number of actions for us to get there.

Firstly we need to build up our knowledge about property renovation and having purchased a high end renovation education product last year, I think it’s time to really use that product and build up our knowledge.  The renovation education product has a series of DVD seminars, audio seminars, a workbook and many checklists so the plan is to work our way through all of these to get the bigger picture.

Secondly we want to purchase and complete a project, using what we have learned from the renovation education product and our own knowledge.

Australian property investing - property management and tracking 3.  Management Processes – I have a goal this year to really step up with my management and tracking processes for my properties.  As my portfolio grows I really want to have solid management processes and run my properties as a business rather than a hobby.  My properties are by far the biggest investments I own and worth millions of dollars – when you think about it, if you are running a million dollar business then you would expect to have professional practices and management in place, so this year, I aim to institute this level of professionalism into the management and running of my property business.

So there you have it!  I’ll be reporting in on the progress toward my goals on the Everyday Property Investing podcast and here on the website.

What about you?  What are your propety goals for 2011?  Share them with us, we’d love to hear from you!