This entire section is a very important action item, that you need to complete.  It may take you some time to do.   Answer the following questions in a small notebook.  I use a small moleskin notebook that I keep around my office desk.   It is important to use a pen and paper to write these goals down, as it creates a different type of memory than typing or using a phone.

What are the specific goals that you would like to accomplish in 5 years:

1. Real Estate Cash-Flow per month? ($4000 per month)  ____________________
2. Appreciation on Real Estate Portfolio? (3-5%)  ____________________
3. Value of Portfolio ? ($7,000,000)  ____________________
4. Major Goals Aligned with Lifestyle (3 Trips per year, Car, Kids Education =assign a cost if possible)  ______________________

 Now take goals 1 and 4, and attach a monthly amount of funds that you will require in order to accomplish this.  Let us use an example of $5,000 per month, to make it easy.  You would use whatever amount that you came up with.

1. The Monthly Income I require from my lifestyle is  ___$5,000____
2. Define your monthly income outside of real estate in 5 years  ____$2,000______ (Let’s say you want to work part time)
3. Define the monthly income you currently get from real estate _______$800___ (Let’s say you own a great duplex)

The amount of money you need to generate through your real estate portfolio is $2200 more per month, in order to achieve your goals. ($5000-$2000-$800).

Amount you need to now generate each month is: $__________________, which is your portfolio goal.