Needing to outsource more
October 31st, 2009
Archive
Archive for October, 2009
Tax Lien Sale and Offers
October 29th, 2009
I?ll start out with the bad news (not really).? I met with the lady who owned the house I checked out a couple of weeks ago to submit my offer and go over my documentation.? I had 7 comps, a CMA, an expense report, and a contract.? Here is the rundown of how the meeting went:
REBarCamp and such
October 26th, 2009
I’ve got an action packed 7 days approaching:
Tomorrow I meet with the lady I mentioned in my last post whose house I targeted with one of my direct mail letters.? My Realtor/Investor colleague and I took a look at the property last Friday.? Man was that thang tore-up.? It will need a new roof, new windows, new kitchen, a new whole bunch of stuff.? But the good thing is that this is the worst house on the street.? All of the neighboring houses look great.? I have some comps, a CMA, and an estimate of repairs to accompany my offer.? So this should take the shell-shock out of the offer.? I think she is expecting an offer close to retail minus just a few thousand in repairs…I hope not.
Procrastination is the enemy
October 22nd, 2009
It’s 1:46am and I’m kind of up lollygagging around.? Well I take that back, I guess I’ve been productive as I was just over at www.mytechopininion.com which is a tech website for those in Real Estate. Pretty cool stuff over there, check it out when you’re able.? And I also watched a few YouTube videos that focus on some new advertising methods.? I love YouTube to death, I swear…anything you ever wanted to learn, you can find it there.? It’s now the number two search engine, by the way.? Just a little fun-fact.? It’s second to Google.
Hard to work smart
October 20th, 2009
Onward and Upward
October 14th, 2009
So it’s been over a week and the calls have drastically tapered off.? I had planned to give some exact call counts, but I kind of screwed that up when I was altering the settings for my Vonage account when setting up my Google Voice accounts (the counts got off).? So I’ll approximate.? After 1 week of the letters being in possession of homeowners, I received about 70 calls with about 12 of those being leads.? Out of the 12 leads about: Read more…
Slackin’
October 11th, 2009
I pretty much took yesterday off from doing any Real Estate stuff.? Not that I could afford to do so, I just am trying to avoid burnout.? And not burnout from Real Estate, it’s just that I’m always working.? And even in my time off, I can’t really enjoy it because I’m typically thinking of how broke I am!? Catch 22, I guess.? Sometimes I daydream of copping out, getting an MBA and just finding a job somewhere to settle with $100K a year.? But then those daydreams turn into nightmares when I think about (a) going back to school and (b) still working for someone else.? But anyway the time off was appreciated, but I still kinda feel like taking a few more days and not doing NUTHIN! But that wouldn’t make sense.
I’m an IDIOT
October 6th, 2009
Today wraps up the end of day one of the Yellow Letter campaign.? I received 30 calls in total.? That’s already a 3.75% response rate.? However, there are only two leads (one warm and the other is semi-warm).? This technique is reported to yield a 10 to 15% response rate, so that means I should have another 50 responses or so.? Hopefully, I’ll get some more leads.? I could care less about responses.
Letters Out
October 5th, 2009
I stamped all of my letters today and sent them out.? Turns out I only had 800 letters and not 900 like I had thought.? Don’t know where the math went wrong on that one.? Or perhaps I skipped printing 100 when I was printing them out.? Damn, I’m craving sushi and king crab legs right now.? That has absolutely nothing to do with this post, I just thought I’d add in that fun fact.? I dropped the mail off a few hours ago, so the letters should go out on Monday morning and they will probably show up in peoples mailboxes as early as Tuesday.? This should be very interesting to see what type of results I receive.? I’ve got my Realtor ready to go with my call lead sheet and calls will be forwarded to his cell.? I think I’ll hold off on the second assistant for now.? It’s too late to try and find someone and build a rapport in time for them to take my calls.? It’s hard to find someone who’s not flakey so, I’ll stick with who I know for now.? I’ll definitely keep you all posted on the results on this campaign, how many calls received, how many leads, etcetera.? It’s always hard for me to end a sentence with an abbreviation, thus “etcetera” was spelled out.? And I could cook eggs on the exhaust vent of this laptop, seriously it’s that hot.? Those were two more fun facts for you.? I’m rarely a serious individual and here’s the video to prove it.? And I’ll post another like it soon but with Benjamins.? Peace out.
Big Bucks for Postage
October 2nd, 2009
So I’ve covered alot of ground since Tuesday’s post.? I met with my Realtor on Wednesday and we went over my plans for making MLS offers.? The majority of our meeting was spent going over the Champaign County Association of Realtors contract.? I don’t know why, but I was expecting that contract to be more complex than it turned out to be.? That thing is only 4 pages long and very easy to understand.? I now have it saved in PDF form and since I have Adobe Acrobat, I can manipulate it so that I can do everything electronically, even my signatures.? You know I’m all about using technology for sake of efficiency so it’s on now!? To supplement each offer, he suggested that I enclose a letter explaining who I am and why I want to buy the seller’s house and also a bank pre-approval letter.? The bank pre-approval letter is going to be a mini-hurdle.? I have a 700 credit score and a decent income, but my debt to income ratio is through the roof (I finance a lot of my business on credit cards)!? I’m pretty sure that is a deal breaker.? I mean it’s not like I’m going to close on any of these houses, I just need the letter.? This is a classic, “It’s not what you know but who you know” situation.? I’ll figure it out.