In this video, we will show you how to set ambitious real estate goals for 2022.
You’ll learn how to set real estate goals for the long-term to achieve your career, personal, and financial goals.
Transcript:
Chris Bounds 00:00
We actually created this goal of a billion dollars of assets under management. Here’s one funny thing, I just said that, which means in 10 years, you can come back. So January 2032, we probably won’t be doing the show then. But you’re on Facebook or whatever social media and like he hit it. And like if he didn’t like, you can throw some egg in my face.
Jamie Bounds 00:18
First of all, January, is one of my favorite month. And it’s just because we can start fresh. I mean, it’s just a fresh start new goals, Chris and I, we always get together, the beginning of every year, usually, very early, whenever the kids are in school, we go to brunch together, and we rehash our goals from last year, see what goals we met. And then we make new goals together.
And it’s sort of all encompassing, it’s with our business. But it’s also personally like, where we want to be, where our spiritual goals are, what our family goals are, because, and then business goals, because all of that really goes hand in hand. And I just love it. It’s always a fresh start, it gets me motivated. Were both of us motivated and just want to tackle them, right? And so, we’re kind of discussing go over that together.
Chris Bounds 01:16
Yeah, you actually have, you know, like experienced this, as you know, from your teaching background, because you, I mean, correct me if I’m wrong, but I think I read this correctly. When you were doing that, like teachers, you have lessons plans for the entire semester, right?
Jamie Bounds 01:29
Right.
Chris Bounds 01:30
Or at least pretty good framework. So, you definitely, and you’re naturally between the two of us probably the more organized from that standpoint. But yeah, we went over our goals. And, you know, just recently we went over the wheels via for we actually we had the quarterly pulse meeting on Monday team talking about the goals. And what we do, I Louis, alluded to this with Brian is with US, which is a book called traction.
So, US entrepreneur operating system, which breaks down the main components, how businesses should be run, specifically on small businesses looking to grow. Because a lot of folks like they just their business runs them. And if you can actually get control of your business and create good goals and good systems and everything, then you can run your business. So, shall we share some of our goals?
Jamie Bounds 02:23
Sure.
Chris Bounds 02:23
Our goals, 10 year goal, we said, a guy who’s gonna be on later, he put this little bug in my head. And it took a few weeks for it to really, really penetrate. And like think of like, it was a goal that was so far out there. I’m like, it’s it’s absurd. And it’s almost unobtainable. But then when I broke it down, I was like, but it’s not really, it’s attainable for me as an individual, but not as a steadily chipping away,you know, year by year, quarter by quarter and seeing what we can obtain and where we’re going.
So, we actually created this goal of a billion dollars of assets under management. Here’s one, here’s one funny thing. I just said that, which means in 10 years, you can come back. So, you know, January 2032, we probably won’t be doing the show then. But you’re on Facebook, or whatever social media and like he hit it and like if he didn’t like, I don’t know, you can throw some egg in my face.
Jamie Bounds 03:25
That’s gonna hold you to that.
Chris Bounds 03:26
I know you will. So it’s, it’s very humbling to put that out there. And it’s, it puts it puts me in a vulnerable position to say I’m gonna hit a billion dollars in assets under management. If I only get 500,000 you can laugh at me. I don’t care. I mean, if I’ve been, you know, 500 million, I don’t really care. If we overshoot it 2 billion, like, cool. But either way, we set that. So now we can start backtracking where we need to be at various benchmarks in our career.
So, we start with a 10 year, it’s a very broad goal. Don’t really outline too much, because so much will happen between now and then. I mean, we’re probably all going to be living in pods in the metaverse by then. So, but we can bring it back to three years, where do we want to be in three years? And I talked with Brian, again, with leading indicators, what is the leading indicator, so for me, the leading indicator is money committed. Because money committed, there’s opportunities for so as long as we can get the money committed, we have that opportunity.
And we know whether personally or some of our collaborative partners that we work with, like we’re gonna be able to find the right asset the right opportunity to put that in. So within three years want to raise 25 million. A backpack that I hit 30 million I’m like, no I’m almost at 25, which I think is still a good goal. And, and then at the end of this year, I need to raise 7 million. But we’ve never done that before, right?
Jamie Bounds 05:13
We bring it a lot, before.
Chris Bounds 05:15
Yeah. Uhm, 90 million.
Jamie Bounds 05:18
90 million, yeah,.
Chris Bounds 05:19
90 million over a period of time turning with flips, but we’ve never raised a single amount for probably just one or two different projects. From this, and full, full disclosure, like, you know, this is not a license, this is not an offering for any type of security. If there’s anything like that will actually send you, you know, PPM legal documents. So, this is in no way, any attempt to try to raise money from anyone, we’re just try to talk about what our goals are gonna be.
And whenever that time comes, you know, we’ll we’ll be able to share the appropriate legal docs. But in case that that’s the goal, if we ever million, which means at the end of this quarter, my goal is because getting off the ground can be the hardest part, working with accredited investors is to get off 1 million committed. And then we’re gonna Snowball from there. So, that’s it. We also have a real estate team with eXp, 10,000 agents over 10 years. Three years. 2000 agents, and three years, and by the end of this year 465, that’s the goal, 465. So, what are your thoughts? Like, you had a unique perspective?
Going back to the very beginning, like when I dropped the whole bomb on you, hey, let’s flip houses. And it was different for you. What was your perspective, whenever I said a billion dollars, assets under management, because I think that actually could be for folks working in, like, his family, whether it’s a spouse or a sibling, or whatever, you know, different personalities absorb goals like that differently. But yeah, what were your thoughts when I dropped it on you?
Jamie Bounds 07:07
I really thought, let’s see. Truthfully, I was like, “Oh, whoa, okay”. Just like with anything, Chris Brown, that Brown, Bounds brings to my attention a new idea or something. I’m like, “Okay, hold on. You gonna explain this to me”, you know.
Chris Bounds 07:25
I was the same way. But, keep going.
Jamie Bounds 07:27
Yeah, I mean, break it down for me. Okay, and, you know, with everything I’m like, cause usually Chris, he-what are you, you’re the-
Chris Bounds 07:40
The driver, the visionary…
Jamie Bounds 07:43
Right?
Chris Bounds 07:44
US terms you got me the visionary
Jamie Bounds 07:46
And Im in the back, buckling up my seat belt, you know, like, along for the ride, really, but just really buckling up. But I’m also, you know, supportive, and I want the same things. I mean, our goals are unified. I mean, we’re married, we run a business together. So, we want the same things. But with this, or like with anything, you know, with real estate, you always have to be creative.
And you always have to pivot, you can’t stay stagnant in this business, that’s, it’s just not gonna work. It’s not sustainable, you have to always pivot in different directions. Because the market changes, and you kind of have to change and adapt with it. So, this just to me, whenever you brought it up, it’s just another pivot. You know, and I believe in you, I believe in it. And I was hesitant at first, but you know, I’m on board.
Chris Bounds 08:49
I illustrate that, because that is in you. You’re definitely more of a communicator between the two of us. But you describe that evolution and thought process, I had it, too. I don’t communicate that in words, typically. But I had that process, too. So we all have a box.
Like they say like a great white shark, you put it in a fish tank, like it only gets like, so big, but like if you leave on the ocean, I don’t know what they get, like 50 feet or whatever. So, same thing, like when that bog was put in my head, I’m like, “Holy cow”. Like, come on. You’re gonna do that. And then like, but that’s just a limitation I just put on myself.
Jamie Bounds 09:28
Right.
Chris Bounds 09:28
Like, why can’t I do? Why can’t he do that? Why can’t I do that? Then it just changes the question.
Jamie Bounds 09:36
It’s in your mindset. I mean,
Chris Bounds 09:39
It’s all a mindset.
Jamie Bounds 09:39
Limit yourself, right? I mean, that’s what stops me from doing things, but I mean, you’re limitless. Last stop you maybe at first and medium like you get it rolling and then I’m right there with you. But-
Chris Bounds 09:52
Yeah. And I appreciate that because you clean up the mess I make.
Jamie Bounds 09:58
Okay, we’re still married. And it works, you know?
Chris Bounds 10:01
Yeah, yeah.
Jamie Bounds 10:03
Business and everything. So, and that again as we wrap up because we have our next guest. But that again goes hand in hand with the goals you make. I mean, like I said, we make goals with our business every year, at the beginning of every year, but we also do it with with our marriage because it’s just so important to have if your business partners with your spouse is to align that together because without, you know, a healthy marriage together, you’re not gonna have a healthy business, you’re not gonna have a healthy family life. It’s just all of that.
Well, first, it starts with God and I’m not gonna preach but you know, so that’s very crucial and the center of everything, and then from there, we you know, set our goals and it just, I mean, God always provides and it’s just, you know, no one it doesn’t we just come together and, you know, seek His will and see what’s gonna happen next. Have faith that’s the most important thing is to have faith in your goals. Believe in them, and execute, for sure. It’s not a problem.