How did you do last year?

[WJK]

I closed out my 2021 real estate rental income figures yesterday. I HAD A INCREDIBLE YEAR! The final numbers are better than I ever expected.

How was yours? Post and let us know. What do you think affected those results?

 

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[Jobless]

Second year in business. It was great!

I wholesale hobby products to online stores.

Hired a software engineer to help make custom software that saves me a lot of time. Maybe I can sell this software to other companies in the future.

Could have hired someone to do the daily operations instead, but it was better to first decrease the complexity of running the business.

Many lessons, for example the difference between working ON your business, and IN your business. It takes 80-hour work weeks to do both at once. Now the operations require below 20 hours per week, meaning I have more time to work ON the business.

A lot of inspiration from LEAN, E-myth, Fastlane principles this year.

Made my 'job' (the daily practical / technical aspects of operating) so simple it can be taught quickly to an employee without my experience or work ethic, so I can free up more of my time soon.

 

[WJK]

Second year in business. It was great!

I wholesale hobby products to online stores.

Hired a software engineer to help make custom software that saves me a lot of time. Maybe I can sell this software to other companies in the future.

Could have hired someone to do the daily operations instead, but it was better to first decrease the complexity of running the business.

Many lessons, for example the difference between working ON your business, and IN your business. It takes 80-hour work weeks to do both at once. Now the operations require below 20 hours per week, meaning I have more time to work ON the business.

A lot of inspiration from LEAN, E-myth, Fastlane principles this year.

Made my 'job' (the daily practical / technical aspects of operating) so simple it can be taught quickly to an employee without my experience or work ethic, so I can free up more of my time soon.

Good job! Keep on getting one foot in front of the other...

 

[ljean]

Good. Too good. Owe the tax man 400 large. Over-traded my stock positions, my marginal tax rate on short term gains is 45% which I never fully took into consideration when making trading decisions. Making adjustments to make sure that wont happen again.

 

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[WJK]

Good. Too good. Owe the tax man 400 large. Over-traded my stock positions, my marginal tax rate on short term gains is 45% which I never fully took into consideration when making trading decisions. Making adjustments to make sure that wont happen again.

Congrats! My business income is also up. I'll have to get the numbers into my CPA to see where I am tax-wise...