Since I’m still in holiday mode, I did not trade today.

Instead, I have decided to layout my course of action in a general sense for 2009.

In my trading account, I have $151,000 US to invest compared to the year before where I started off with about $95,000.

In my “income” account (which I use to deposit other incomes): I have approximately $38,000 which I earned in 2008 from renting out properties and flipping property also. A few expenses from this account took up $40,000 in costs in 2008 which left me with this new amount.

Those expenses were two new construction condos that are being built in Toronto. They will not be done until 2011, but I had to pay a certain % of the condo values this year.

This account also serves to pay off my multiple mortgage payments (2 Miami condos with a combined mortgage of $2400/month), maintenance fees on 3 condos (the two in Miami and one mortgage free unit in Toronto total $1388/month), and property taxes which also totaled ($4800 for the 2 Miami properties, and $1800 for the Toronto property)

The yearly expenses on the three units is generally: $52,056/year + insurance, etc = $53,231 expenses
Monthly, I need to allocate: $4436/mth to maintain my expenses.

These are offset with rent at a monthly total for all three units with a total of $4655/mth

In total, this “income account” will sustain a monthly growth of: $219 or $2628/year.

Yes, I know these rental properties are a lot of work to maintain and the return is not that great. BUT, getting in on a bottom market in Miami, I was able to get prime locations which after mortgages have been paid off in the next 10-14years, will have a lifetime of profit generating income which for me and also increased property values as the overall economy picks up.

In my “other expenses” accounts, I have already set aside money for bills that generally come up like: car insurnance, phone bills, etc. These are fixed for the year and I pay them with my credit card for which I get points and then use this account to pay the final monthly bill. Its maximization of all opportunities I see.

I do have other finances and savings that I keep seperate from all this that I do and dont really add it into my “worth”. Mainly becuase this money is and always has been fixed into 3 to 5% term deposits from years back and have not needed these sources yet. The interest I get along with any other side incomes that are not related to my consulting, real estate, or stock markets goes here also and just sits for a day when it will be called into action.

 
by Wonderlane
 

Goals for 2009:

These are simple outlines for what I expect from myself in 2009

1. Pass my US Medical Board exams and move into the medial career feild. 

2. In terms of stock plays, beat the previous years return of 55% with atleast a 80-100% return. I feel that with the rebounding economies, a lot of stocks will rise during the year at different periods which will enable me to move money into fast plays for a quick return.

3. Real Estate – look for another rental (or two max) condo(s) in North America. With some markets still falling in prices and leads on some foreclosures, there is an immense opportunity to pick up a condo or two for a long term hold and pay off the mortgage via renting the property. Its hard, time consuming work but is a long term winner.

4. Find and share new ways to cut expenses without cutting back on the lifestyle. I know saving money is not hard and will try to figure out how to jump to the next income bracket in 2009.

5. Increase my network and travel base starting in 3Q or 4Q of 2009. Its a little delayed goal, but item #1 is of utmost importance.

6. Establish a fundraising network while establishing goal #5. Personally, I give to charities in either money or my time. But would like to give more and also introduce others to its rewarding nature, so will create some sort of foundation or something. Will need to talk to my lawyer friends on how to legally set that up.

7. Establish some more equity deals for businesses. I have already in 2008 stepped into the Hip Hop music industry, restaurant technology development (patent being worked on), and a few other businesses but will be focusing more time to get out there and look for new ideas. This also involves further networking.

 

 

So there we go, for 2009 my 7 steps to further success. I hope you all make a list of goals and stick it on your monitor or bathroom mirror where you can see them on a regular basis and maintain that track.

For many, making the list is going to be easy, but again, stick to it. Once you see even a single reward from that list, the motivation to move higher will come from within. When I first started out trying to do things on my list, I would be pumped for a few weeks and then just give up due to side tracking. But the bathroom mirror note worked. The list would be infront of me when I woke up to shave, shower, etc and be there when I brushed my teeth before I slept. It worked for me and I know can work for you!

Also, another suggestion that I have for many that have long terms goals is simple. Set out WHERE you want to be at what date. For instance, you want to be in Law school in 2110, then make that your date and then move backwards from there to figure out what needs to be done. This can be done for any goal and works. Its how I laid out my plan for MBA school and also the same plan I used for getting my first proerty. Try it!

 

Okay, so this is getting long. Any questions/comments can be emailed or posted here.

 

Happy Investing!

 

Aman, MBA

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