Week 4 Progress – Month 1 Results – Goals, The Double Edge Sword

I’am in Columbus, OH right now, it is 8:21AM, I haven’t been able to get much work done here because I’ve mostly been visiting with family.   However, I may be doing a real estate deal with my uncle now, and canceling one of the ones I had in Corvallis due to difficulty of renting it out in a college town when everyone has found a place to stay in.

 

So how was week 4, lets run the numbers.

 

  Adsense: $72.72

CPAEmpire: $425 [~100% increase from last week]

Kontera: $9.47

TLA: ~$13

Prosper:~$23

BeaverRent ?? [not even going to count it any more]

Overall everything is going pretty goal, I hit my first objective to obtain $35/day gross income via affiliate marketing, I have accomplished that for September, next month is to obtain $85/day gross income via affiliate marketing.   Shouldn’t be to hard, I was able to hit over $100+ in one day this week so I know it is not that far away.

 

For the month, here is the income, I’am no longer including BeaverRent income into my goal to $10,000/month, more so because I’m not sure if it is even making what I projected earlier this week, so I’m going to just going to leave it out.

 

Income for Sept 2007

 

COPEAC: $4.75

GetClicky: $19.99

TLA: ~$45

Kontera: $52

Propser: ~$100

Adsense: $313 [A huge drop lately]

CPAEmpire: $941

Rent: $1625

Total it comes out to about $3,100/month passive residual gross.   Cool, so this first month I was able to almost generate an additional $1000/month via AM.   Next month, I will hit $2500/month via AM, which will boost my monthly income to $4,500ish.   The following money after that, my AM income will grow to $5000/month, and will put me around $7000/month passive income by the end of November.

 

The other $3000/month I have determined I will achieve via rental properties.

 

Goals the double edged swords. One of my goals is to own/co-own three (3) pieces of real estate by the end of the year.   I’am all ready to go to purchase a building down in corvallis, however, I’m looking at them, and I could potentially buy one right now and fulfill my goal of having 3 buildings but it would seriously handicap me.   Because of the market if I was to buy right now in a college town I would be sitting on a vacant house for sometime, in that my goal to purchase one house down there before the end of the year would put me in a financially bad situation.

 

Sometimes trying to hit a goal, can cost to much. In that you may hit something, but at what cost, was it worth it?   There are many goals that can hinder you, and goals that you hit but at the cost of not having any family interact, or the cost of not taking care of your health, or at the cost of buying a building just to own 3, even though it would be a negative outcome for your finances?

 

So I’m running into the dilemma, 3 months left, and my house in corvallis is not going to work.   It would be easy to say, and have a lazy mind, turn it off and say wes, this just isn’t going to work, maybe I just won’t buy three because…… No, shut up, is what you gota say to yourself, and instead I need to find another way.   It will be difficult, but hard, I always have the how can I attitude, so you can immediately take a situtation and look for ways to make it work.   It is going to now be extremely hard for me to purchase 3 buildings before the end of the year, but I’m going to make it happen.

 

Keeping an open mind, I’m here in Ohio and I actually just spoke with my uncle, and together we now may just purchase a house in Portland, OR and do a 20% downpayment, the investment will cost around 40k down payment, I will split the down payment between us.   This will give me the abilitly to get prequalified to purchase a non-owner occupied investment property at 20% down, and buy something in a even more appreciating market with a market that it is easier to rent it out in.

 

I’m calling my mortgage broker today and see what I can do, my other friend from the military just arrived in Portland today, I will meet with him on Wednesday, and we will be getting going with him to purchase a house between us, and another friend, which will be the 3rd.   So always keep an open mind, so goals can be a double edged sword, they can do good, but they can also do bad.

 

Here is a tip: If you set goals, and you don’t hit them, it can hurt you.   Setting goals and not hitting them is like lying to yourself, making commitments and not following through.   Have you ever set a goal, missed it, and then set it again next month, only to miss it again.   See everytime you miss a goal you become a goal failiure in someone who is unable to set goals, and misses them everytime and then just doesn’t ever seem to hit goals.   The goals are elusive and they escape from you, setting a goal you can’t hit, might as well not set a goal at all.   Everytime we fail a goal it throws off our pysche, and it becomes a negative, because we look back at all the times we have failed to hit our goals, and it becomes what we do best, failing goals.   That is why we need to have a goal process that we have developed ourself in a way that you can hit your goals 100% of the time every time, I have set my goals in that way I’ll blog about it later.

 

It is bad to set goals and not hit them, because it starts the process of failing your goals everytime.   Its not a positive, its a negative, and can, and does hinder from ever being able to confidential believe in yourself to be able to hit goals and accomplish them.

 

So this month went great for AM, it went horrible for my real estate goals, first buying a building that I couldn’t rent out, so we pulled out, and then come to the realization that for my past 2 months effort to buy something in Corvallis, another city, if I do it now before the end of the year, its going to hurt me.   So I have to re-change my plan and now shoot for reorganizing goals, new game plan, and take immediate action.   Massive activity to produce massive results.

  • Bob

    A wise man once told me set a goal that you can reach and increase it gradually. Another wise man told me to set a ridiculous goal so I achieve more.

  • Scott

    Another wise man said be careful about your goals.

    You’re goal is to own 3 properties, but you don’t want to force it to happen – don’t buy one for the stake of buying one. Buy it because it’s a good deal not simply because you set a goal and must met your goal. You still have to be smart and it is OK to fail because it may hurt you to accomplish it due to timing. Markets change and time effects it as well as goals.

  • I would agree with you guys both great comments, yeah a couple ways to look at it, set so high, and hit among the stars. or set it high and hit it. either way, yeah I agree, whatever works best for the indiv.

    Yeah, I also agree, not every goal is really what it is worth, negative outcomes could come out of doing 3 houses, I completly agree and running into the dilemma now.