_{Presented by Astra Properties LLC}
Revolutionize Your Financial Strategy: Smart New Year Resolutions for Game-Changing Investment Success
_{By Nicholas Burrus · 12/18/23
Thanks for tuning in todays read! Read time is roughly 9 mins.}

Morning 🌅

How’s your week starting?

It’s always a fun week before Christmas as that’s whats on everyones mind.

Today we’re discussing goals. What do you want next year to look like?

It’s essential to have a clear vision on what you want to have and what you want to accomplish.

Personally, I make a business plan for both my personal goals, and business goals.

This year I checked 4 out of 5 goals, not bad in my opinion!

The New Year brings changes and the start of something promising. Listing clear resolutions lets you develop good habits and boost you further on all levels.

So, are you ready to start the year right with a list of smart resolutions to greet 2024?

New Year Resolutions You Should Be Making in 2024 💯 

Make 2024 the year where you’ll acquire life gains with these smart New Year’s resolutions:

Increase your property value 🏡 

If you have a portfolio, it’s always a good idea to make some capital improvements across the board.

So many investors buy a property and then let it go as long as it cash flows.

That’s a quick way to become the sloppiest house on the block.

No one likes the person who has the worst house in the neighborhood

The new year is a great time to review your portfolio and see how you can value add.

Identify key areas that need improvement, make a list, and execute over the year.

If long term tenants are in place, you can focus on the exterior portions until they move.

Or, if you want to increase rent on their next renewal, do some improvements to their unit so it justifies a larger increase (Depending on market rent for units in similar condition).

Long term? Think Short Term.

Diversity is 🔑 

If you’ve ever been interested in exploring another avenue of the business, take the leap.

If you’re a long term investor, think about adding a short term asset to your portfolio rather that be a property in a desired area, beach/lake house, cozy cottage, etc.

This will not only give you another income stream, but also a neat place for you to escape too when the world gets too loud.

Thinking too small? Think bigger 📈 

I’m not talking about going from short term back to long term.

I’m talking about taking the step to acquire bigger units.

Many investors invest in 5 units and below, and are afraid to take the leap into bigger projects.

If this is you, this year if you’re ready, take the step.

This is what we are also aiming to do here at Astra. 10-20 units are manageable, but many are afraid to take the leap and get into owning bigger buildings.

This is a big step for any business, but is a necessary step if you want to scale your portfolio.

Analyze the risk. Crunch your numbers. Take the step.

Expand your financial knowledge 🧑‍🎓 

We’re big on continuous learning because that’s what smart investing is all about. 

Investing in yourself is one of the best business decisions you will ever make.

So, go ahead and expand your financial literacy. Whatever it takes - read books, take a course, go to a seminar, and meet mentors.

Cough, networking events. 

Spend time learning about investment options, understanding market trends, and the basics of financial planning. Sharpen your skills to achieve your goals and set your business to success. 

Harnessing AI to Take the Stress Out of Managing Multiple Assets 🤖 

It’s like having a technical and customer support team that never sleeps

AI has reshaped job roles, transformed how industries do business - even changed how we communicate and engage with technology.

Real estate is not an exception to the undeniable impact of AI.

How do you use it to your advantage? You can use AI to improve your business processes and even update your customer service.

Here are ways to use AI to make property management a breeze:

Build a smart home

Well, kind of smart.

AI-powered home automations makes a terrific investment and can attract tenants and buyers alike. If you haven't already, equip your rental units with smart features such as:

• Automatic door locks

• Smart lighting

• Motion sensor security cameras - for larger buildings to increase security

Our favorite are the electric locks, as it makes lockouts almost never happen.

Your 24/7 customer support rep

AI takes the stress of managing tenant calls and requests.

AI doesn’t sleep; it's available 24/7 to answer questions, solve maintenance issues, and even make emergency calls.

Over time, AI can learn and understand exactly what needs to be done for tenant and maintenance-related questions.

This can save you tons of money on customer support and maintenance costs.

Obviously AI can't knock on your door and fix a clogged sink or a busted pipe, but it can give you the contact info of the person to solve the issue and even schedule a maintenance check automatically.

Monitor maintenance

Maintenance can be a pain if you don't keep track.

AI can do this for you too.

Some AI products can track the lifespan of appliances and installations so you can change a lightbulb, replace old batteries, and do maintenance checks and repairs on devices and appliances before they break down - saving you a lot of money on repairs and maintenance.

💫 What Else is Poppin? 💫 

Is the world ready for an Elon Musk university?

That's right, the Tesla CEO is planning to build a university in Texas through his charity institution, The Foundation.

According to tax fillings, Musk is set to shell out a cool $100 million to establish a STEM-focused primary and secondary school and expand to the "highest education levels" in the future.

The university will provide "hands-on learning experience including simulations, case studies, fabrication/design projects, and labs." Initial enrollment for the university is expected at around 50 students and scale up over time.

Will you be one of the lucky 50?

The tax filings also noted that The Foundation seeks accreditation from the Southern Association of Colleges and Schools Commission on Colleges.

This will be just one of the several schools Musk wants to build.

The tech billionaire plans to open a Montessori-style school and K-12 schools.

The Foundation recently got approval for tax exemption from the IRS.

This being said, MIT better watch its back 👏 

Weekly Mindset Check In 💡 

Catch the latest episode of the AstraCAST podcast!

Have you subbed to our podcast yet?

You can catch me and Marcos on YouTube, and soon Spotify! Catch up with us as we bring on guests from all parts of the industry covering everything from real estate, personal development, to growing a business through acquisitions, rentals, and renovations.

Don’t be shy, check us out here!