My 2007 Objectives

A. Financial/Wealth
4. Plan to sell our current townhome in Redwood Shores (DONE)
– Plan to lock the gain of our primary residence by selling our home by March. If needed, we will move to live in an apartment (with rent of <$1800) temporarily.
– With the net gain of ~$580, we can use 1. ~$300k for real estate investments; and 2. $~280 for liquid investments and reserve for buying a new home.

5. Continue on Investment properties (IN PROGRESS)
– Real estate investments will continue to be my focus in 2007. My goal is to purchase enough properties to give me $10,000/mo of cash flow, and to increase my net worth to $2M. I know I will continue to focus in appreciating markets, e.g. gozone, NC, TN, etc.
– Plan to purchase a duplex in Alabamba for ~$398k which gives break-even cash flow for the first few years.
– Plan to purchase an apartment building in NC, SC, or TN which gives $x000 positive cash flow.

7. New home in Penninsula (ON HOLD)
– This is another carried over objective from last year. Plan to move to a nice SFH in the penninsula area, if the market is in favor.

B. Career/Business
3. Find a part time or a volunteer job as sales or assistance at retail, art gallery, or interior design firm. (DONE)

4. Explore and get started on my own business (DONE)

– I have been seriously thinking about starting my own business lately. Partly because I was inspired by a rich friend; he said, “Corporate america is too comfortable. Go out and get uncomfortable!!” Also, I know I should try something when I’m still young. A quote from Marshall Sylvar. “If not now, when?” So far I have got 2 ideas in mind, and my goal for 2007 is to try and explore them, and to make it profitable:
– a) I am amazed by the talents of the emerging chinese contemporary artists: I am particularly moved by the works by Wang Xiao Jin,, who is only represented by an art gallery in Shanghai and another one in Florida. I thought, “What about San Francisco?”. Did a brief research and I was not able to find any art gallery focusing on chinese contemporary arts. Can I do something in this area? Can I start my own art gallery? Can I get the artist’s permission to sell his prints at a lower price for middle class clients?
– b) Another idea. When people like me wants to learn jazz piano, learn painting, learn knitting, etc, we go to community colleges or local private schools. When rich people wants to learn these things, what do they do? Always hire private tutors? Can I start a luxury hobby school, targeting rich wives in the Bay Area? Can I find a well built and designed private school in a good location, offering hobby classes at a high tuition? Can I make it like a country club charging a huge membership fee to ensure ‘quality’ of students? I know what I’m selling is the ‘experience’ and a place for people to hang out, have a good time, and at the same time, do something that makes them feel proud of themselves. The school can offer high quality wine, coffee, etc while they are painting, knitting, etc. Once students are inside the school, they do not have to carry cash or credit card. They will be recognized by all employees and everything will be charged to their ‘accounts’.
– Finish writing a business plan and coming up with start up capital

6. New job as Project Manager (DONE)
– This is a carried over objective from last year since I will be starting the new role in mid Jan 2007. My goal is to gain one year experience in the new team, and I will learn from working with senior executives and will get familiar with developing software development processes for a large corporate.

C. Free Time/Fun

D. Health/Appearance
1. Get up at 7:00 am everyday (PARTIAL DONE)
– I have been struggling this this goal for a few months, and was still not able to succeed by the end of last year. I know this goal will be a breakthrough for me, and I will have to accomplish this!
Daily devotion for 10 minutes.
A walk for 30 minutes or 30 minutes in gym if raining.

E. Relationships

F. Personal Development/Learning,
2. Set quarterly goals to help achieve my 2007 objectvies. Measure the deliverables. (DONE)

G. Community/Charity


About this entry