Setting timelines

This week went great! I managed to get some good contacts.

I found two title companies that I may be able to work with in the Northern Virginia area. I also found a few transactional funding lenders.

The one agent I thought would be willing to work with me fell through, oh well. I have noticed a lot of agents in my area have been bugged to death by investors so it may be tough to find one that will work out. I didn't actually pick up an agent's cards from community boards in my area just yet but it will get done this weekend. I also failed on driving my route during the week but I do plan to drive this weekend for at least three hours, my goal here is actually to get familiar with the neighborhood, if I happen to come across junk properties that is a plus.

I actually got a lead, yes one lead but I had to toss it back because it wasn't a deal. Considering I haven't really done a marketing campaign I think one lead is fantastic.

I got some new business cards, they look great!

I got 3 books for fathers day, the subjects were Wholesaling, Real Estate contracts and tax loopholes. I am reading the wholesaling book and I'm a little over half way done with it and it has been a great read so far. I would mention the name but I don't have the book in front of me at the moment and I can't remember the title.

So here is the deal...

I want to set a timeline within my deadline to help keep me on track. There are three main steps that I see that I need to accomplish in order to close a deal. I have 159 days as of this writing to close the deal.

1. I need to reach out to people and build my structure and my knowledge as I have mentioned previously. Buyers, Agents, Title Co's., Wholesalers, landing sites, contracts, marketing plans, transactional funding lenders, hard money lenders etc. . . Without this structure I will be unable to make a deal. So for the next 30 days this is my goal.

2. At 120-60 days I will implement an intense marketing campaign and begin working the leads. My objective during this phase is to get as many leads as I can through Internet and mailers rather than having to go door to door with door hangers or intersection to intersection with Bandit signs.

3. That should leave me with 60 days to get a house(s) under contract market the property and close a deal. Of course I will still be marketing for more deals in this phase.

These are just guidelines to help keep me on track. If I begin marketing before the end of 30 days then I am ahead of the game.

So I still need to:

Gather more lenders. Hard money, transactional funding etc.
Gather more title companies
Gather agents cards and make the calls
Reach out to buyers on forums, craigslist etc..
Finish my 3 books
develop my marketing plan
set up landing sites for buyers and sellers.
Get my contracts in place

phew...developing these plans on a weekly basis is becoming very useful. Im getting closer I can feel it.

'Till next time!

Hubcap