OfflineI was a bit hesitate to do this but I think this will assist in keeping me accountable.
On 01/30/2009, I joined DG Success Academy (with some trepidation). I suppose the trepidation is putting my money where my 'heart' is. I must succeed in this and if I need the financial commitment to motivate me then so be it. I received my login info on 02/02/2009 and I have gone through the overview and the first course.
My pending action items are:
- 1. registering a business - I will wait until I have done my first deal to pay for this
2. getting business cards - same reason as above. The delay is not for financial reasons but to ensure that the business name I select will be available for use.
My current action items are:
- 1. Writing my goals for 3mths, 6mths, 12mths, 3 yrs, 5 yrs. - This is proving to be more difficult. I don't want to write wishful ideas and yet I don't want to write something that I believe is unachievable. I know this roadblock is just my state of thinking which I am working on changing. It may be easier to do the 3/6/12 month goals which will link in with the burning desire I have to get rid of the current financial debts that we owe.
2. Join a local real estate investment club. I have identified 2 possible clubs in the Austin/surrounding areas that meet once month. I am nervous about attending. The newbie feeling is always awkward! I will scope out the locations so that I will at least know where I am suppose to be and be ready to attend next month.
3. Select a handful of quality Realtors to work with. Now that is a challenge in itself 
REIC hopefully will get me some decent leads but I have to get started before I go there.
4. Determine the areas I want to invest in based on specific research. Ideally the realtors who will be willing to work with me will provide insight in this area but I have to come up with my own list.
5. Identify some possible properties.
WHEW! This list seems simple and straight forward but it is taking me out of my comfort zone kicking and screaming.
I should not move to the next course until I have accomplished these items so I will post next week to provide update on my progress.
If anyone else has recently started the Success Academy (within the last 2 weeks) please contact me, particularly if you are in Austin, TX. We can buddy up and support each other.
Take care all.
B
Today actually marks the commencement of week 9 in the business. Here is my review of the previous week.
Completed Items
1. Establish 800 buyers and sellers info line
2. Launch buyer's website
3. Launch direct mail marketing campaign
4. Commence advertising the website
5. Meet with a married couple to commence short sale process on their home.
6. Enlisted one of my Realtor's to do CMAs for me in return for any referrals from my campaign that I can not wholesale
7. Identify and write out 3 Year Goal - I could not do this 8 weeks ago but how things change
Over the weekend 1600 postcards were mailed out to sellers. My stomach is turning over with anticipation. Have I disturbed the 'crazies'? Will people be willing to negotiate?....BLAH..BLAH..BLAH....I still have to press on so starting tomorrow I will return to my normal routine of waking early, scanning the FSBOs on the various sites and submitting offers.
In Progress
A.The course 2 assignments are to:
1. Schedule an appointment to visit top 5 properties
2. Determine the repair costs needed for each property
3. Calculate the fair market value and offer amount
4. Determine investment strategy
B. Complete course 3
C. Read 2 more chapters of BARM. I am currently on chapter 12
D. Have Prepaid Legal review a one page contract that I wish to use. This contract is a lot less intimidating to sellers and certainly less intimidating to me (TX contracts are 8 pages long..goodness gracious). My expectation will be that it assists in building rapport with sellers during negotiations and closing. Talking directly with sellers is becoming easier each time I do it and so I can focus on becoming better at listening and negotiating.
E. Follow up on 3 FSBOs identified over the weekend.
After reading chapter 11 of BARM regarding goals coupled with the accomplishments of last week I have been able to solidify my 3 year goal. I have decided that I will generate $1,000,000.00 of income from investing. In order for me to do so if I follow the avenue of wholesaling I must do 200 deals with a minimum assignment fee of $5K. Not all assignment fees will be $5K, some will be higher. In addition deals will come my way where I could do a different investment strategy that would provide a bigger profit. Regardless, 200 deals is the target to reach.
8 weeks ago this thought could not have crossed my mind and have me believe it where as now I know it is all about the numbers.
Anyway that is the plan of attack.
Well, my direct mail hit the mailboxes today. And as of 10:48PM CST I have had 59 calls and my computer continues to act as a pin ball machine.
Most were hangs where they either didn't listen at all to the message, or they listened to the message for 1-3 minutes and did not leave a message. I still would need to followup with the latter hangups because they at least took the time to listen to some portion of the message.
I am currently researching 3 properties from the calls that were left.
I was certainly feeling nervous this morning when I realized people were actually responding to the postcards, as well as the fact that my husband left on a business trip this morning so I knew I was going to have to field as many of the calls as possible. However, it became easier as I engaged in conversation with the seller.
The 3 gentlemen that I spoke with today were very pleasant. One was hilarious!!! Not sure if there is a deal present but we'll see. I'll make an offer and then move on.
Anyway, I feel tired.