Okay, I have spent the majority of the past few days putting together my final numbers for 2009. Typically, I don’t start this activity until at least a week or so into January, but this year I am ahead of the curve. I am already putting the right foot forward for the New Year. This is a good sign.
My neighbor, Rob Weaver, started me out today already asking, “So, did you sell 100 homes this year??” My response, “Yes, and, um, no.” Pretty weak answer, really. For the record, Rob, I am going to say “No” from here on in. Let me explain . . .
Shandrow Group brokerage sold a total of 97 homes last year. Just short of the 100 homes goal; however, on 14 of those transactions we represented both the buyer and seller. So, the total TRANSACTION count is actually 111. But, we didn’t sell 100 homes. Just 97. Not bad, I can’t complain. 100 would be cooler, but 97 still works. These numbers include myself and the buyer agents that sold houses for SGi this year (Adam, Jason, Kelly, Lee and Lucio).
Here are some other interesting numbers for those of you in the real estate business:
Sales Volume: $25,725,100
Gross Commission Income (GCI): $650,000
Averages Sales Price: $231,800
Click here for a full list of all the properties Shandrow Group sold in 2009.
Pamela, Nicole and I will be putting together the first Shandrow Group Annual Report shortly and we will go into the numbers in greater detail, including average days on market and such.
Stay tuned . . .
Onto the Goals for 2010
A big goal that I have had since I first got into real-estate in 2005 was to make $500k a in GCI. Well, I hit that goal this year and it wasn’t as exciting as you might expect. I was very wrapped up in my business at the time and didn’t even noticed I had passed $500k until a couple of weeks after it happened. The problem was, and still is, my expenses are always outpacing my increase in income so I am not seeing the extra cash flow.
My net this year was only about a 20% increase over my net last year, and I did $315k in GCI in 2008. But, with Julie Harris constantly pounding on me about saving money, I did a great job saving this year. I am using a new system too, which is helping me. With every closed transaction, I automatically send my savings account $1,000. So, close 10 in a month – Save $10,000. Works great.
The great news for 2010 is that most of my expenses this past year were from opening my own company and slamming down debt. I purchased a lot of new computers, office furniture, and supplies. Plus, I paid off a $40,000 business start up loan that I used when I first got into real-estate in 2005/06. It is nice to get that monkey off my back. I have a couple of other small loans that total $16,000 (car and biz credit card) that I should be able to pay off in January.
So, here are the goals for 2010. This is based on some pretty good thinking about my future finances and where I want my family to be financially at the beginning of 2011.
Business Goals:
200 Transactions Closed for 2010.
156 Closings for Me.
44 Closings for SGi agents, mainly Adam.
Video and document all systems.
GCI: $1,000,000
$1 million is a nice number, but it also makes sense. That is $84,000 a month. I can do $84,000 a month. Plus, we had a great December and I am coming into the new year with 15 units in escrow. If you don’t have a strong 1st quarter, it is hard to have a good year. We had a great December, so I am pushing for a strong year.
Savings Goals:
This is where the rubber meets the road. There is nothing worse than looking back on a great business year and realizing you didn’t save any money. It can sometimes be gut wrenching to think how much money you can blow through in a year. And I have had my fair share of wasted savings years.
$10,000 a month has got to be my new monthly savings goal. Period. The new standard is $10,000 per month. So, at the end of the 2011 I should have a minimum of $120,000 cash.
Travel/Fun Goals:
This one is pretty easy. I usually don’t have a hard time getting in lots of travel and fun. This year, I want to take the family on at least one vacation abroad. We are thinking Japan and Hawaii, but we will see. Then, I also want to climb Mt Rainer, ski several times, and get in at least one surf trip to Mexico or further.
Debt/Project Goals:
In order of payoff:
Pay off car and credit card ($17,000)
Sell my crappy apartment buildings in Louisiana ($0 to $30,000)
Build gate for house ($4,000)
Pay off or renegotiate second mortgage ($60,000)
Build addition to house ($45,000)
Learning/Health Goals:
Attend at least one internet marketing seminar and six real estate events. Keep reading regularly.
Keep jogging at least every three days, three times per week. I have currently been doing about 12 miles per week and I want to maintain this level of aerobic exercise. Ideally, I should weigh 190 lbs, but that has been a constant never-ending challenge. I am going to get to 200lbs in 60 days and stay there for the year. I am currently at 210. No more yo-yo’ing my weight.
That’s it for now. Upward to 2010.
Mark Shandrow
Real Estate Broker
Shandrow Group
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{ 2 comments… read them below or add one }
Congratulations Mark!!! Way to go!!! I admire you and would like to emulate people like you. Someday I would like to invite you to lunch so that I may pick your brain a little. I know I can learn a lot from you.
Thanks
So my coach made me make a few changes. Basically, just adding dates to my goals. So here they are revised:
Debt/Project Goals:
In order of payoff:
Pay off car and credit card ($17,000)—JANUARY
Sell my crappy apartment buildings in Louisiana ($0 to $30,000)–JUNE
Build gate for house ($4,000)–JULY
Pay off or renegotiate second mortgage ($60,000)–JULY
Build addition to house ($45,000)–DECEMBER