Accountability Monday – 12/7/09
A week has passed and I’ll review my one-week goals due today:
Tasks:
1. Make at least 10 offers on properties listed on MLS – FAIL
2. Brush up on REO literature so I can start making REO offers too – PASS
3. Distribute my new door hangers with brochures to select Urbana neighborhoods – FAIL
4. Find more cash-buyers (section 8 landlords, find past cash buyers in MLS, members of Central Illinois Apartment Association) – PASS
5. Put something together for a CraigsList nationwide cash-buyer campaign – FAIL
At first I thought this was a short list, but there are plenty of details that go into each task. As far as the goals that I passed, I’ve been reviewing my REO Rockstar DVD’s every night. That takes the place of any recreational TV watching (not like I did that anyway). I’ve got a list of Section-8 landlords, landlord members of the Central Illinois Apartment Association, and still need to get some MLS cash buyers. But I’ve got over 150 contacts so far that I may be able to add to my cash-buyer list. I’ve got some emails, some mailing addresses. I’m going to be professional with this task and send out a formal letter via USPS mail. The text of the letter is as follows:
Dear LandlordName,
My name is Justin McClelland and I’m a fellow real estate investor here in Champaign County Illinois, and I’m the owner of Schwaps. I’m writing in effort to introduce myself as I’d be honored to make your acquaintance.
I wholesale single-family residential properties, primarily located in the cities of Champaign and Urbana, to cash buyers for 65-75% of Before-Repair-Value. Granted that you are a landlord here in town, I presume that you’d like to be made aware of such deals when they come about.
If you are interested in being notified of these deals please contact me via any of the following methods:
217-555-5555 – Office
217-555-5555 – Mobile
217-555-5555 – FaxYou may also travel to the Schwaps company website and submit your property buying specifications online. You may go directly to the page:
www.schwaps.com/LandlordNameGoesHere
I have enclosed a couple of business cards that you may keep on file and pass along to your associates. Thanks you for your time, and I look forward to working with you.
Sincerely,Justin McClelland
Owner
If I may say so myself (which I may), I think this letter is pretty good. And the call-to-action with the various contact methods is ideal, in my opinion. If they just want to call, they can. But if their intrigued by the URL with their name in it, they’ll be taken to the 404 page for the Schwaps company website, which is actually a wholesale buyer sign-up page. Pretty slick right? I mean, if you received a letter that had a website link with your name in it, you’d check it out, I’m sure….I know I would. Shout out to fellow BiggerPockets blogger Ben Roberts for that ingenious idea!
As far as the tasks that I failed to complete, I’ll just keep those as tasks to have done by next Monday. Only 3 tasks, but they should keep me busy when combined with the other tasks I have to complete. I have 20 new leads to follow up on that I received over the weekend. One of which is SMOKING hot, more details on that in the future. And I have about 5 older leads that I need to follow up on. In short, I have ALOT to do. So in closing, I’ll summarize my tasks scheduled for completion by next Monday.
Tasks:
1. Make at least 10 offers on properties listed on MLS
2. Distribute my new door hangers with brochures to select Urbana neighborhoods
3. Put something together for a CraigsList nationwide cash-buyer campaign
- Peace Out
