Kalomar Business Plan
One of my mentors told me that I’d never been successful if I kept my goals a secret. I thought about it for a moment and realized that he was right. As a result, I’ve decided to post Kalomar’s business plan here for you to read.
Objective
The primary objective of Kalomar Properties is to always maintain enough passive income from our rental properties to cover our overhead each month so that we are free of the rat race and can enjoy life on our own terms.
The secondary objective is to provide our investors with returns that are superior to what they could earn without us. We’ll do this by partnering with them to buy foreclosure properties that we can repair and flip for a profit. Half the profits will be immediately paid out to our investors, with the remainder being retained by Kalomar to be used to further the primary objective.
Target Market
Our markets is North San Diego County. Our preferred house has the following criteria:
- 3-4 beds / 2 baths
- 2 car garage
- 1000 – 1600 Sq Ft
- rancher
- middle of the block
- good schools
Buying Systems
Our preferred method of property acquisition is to find absentee owners (Landlords) who are tired of the work involved in property management (we have endless enthusiasm and superior systems for this unpopular task). We’ll offer to purchase these properties on terms or subject to the existing loans that are in place. For this type of seller, they will realize far more monthly income by selling to us than they could possibly hope to achieve by hiring a Realtor and looking for a cash buyer. Click here to see an example of a transaction like this.
