Still Working Hard

Hey everyone!

It has been a few months since I posted. HAVE NO FEAR! I am still working hard. Right around September or October I reviewed my progress for the previous year and compared them with the goals I set for myself. As it turns out and this isn't the first time, I changed direction and went completely off track from what I set myself out to accomplish.

I set out to accomplish objectives in real estate but after a few months of hard work I came to realize that it was going to take sacraficing something that I wasn't willing to give up which was time with my family and since I didn't have much money to throw at the investment in the first place accomplishing my fly by night objectives were slim to none. They weren't impossible but they were improbable.

While I stated in one of my previous posts that I had succeeded in stocks I hadn't even begun to utilize its potential. I decided after my goal review and goal setting for this year that I needed to get myself back on track.

My overall picture, my master vision does include real estate but it also includes being a venture capitalist but my starting poison HAS to be stocks because of the time and money that I have at my disposal. That is a realistic analysis of how I can use the assets already on my balance sheet.

So here it is. Between the stop I put myself back on track and today I have bought and sold around seven stocks. Not one of them was a good trade. In some cases it was the stock itself that I selected and in some cases it was the share size that I chose but in ALL cases it was lack of a clear trading strategy.

Just over the last few days I have bought three stocks using my definite trading strategy and so far it appears to be promising.

HubCap

Business Plan

Since I was having such a hard time getting my marketing together I took the time to write out my business plan this week. It just seemed like the right thing to do. I really should have had it done 3 months but better late than never. I know how I am going to spend my marketing budget and how Im going to analyze and close deals. The business plan has really made me feel more confident and comfortable in what I am doing. it has also allowed me to figure out some missing pieces to my puzzle that I need to get together. For example I don't have a good option contract ready to go just yet. I have several purchase contracts. I remember reading in my contracts book about how to make a purchase contract an option contract so I will get that done soon. I am also in need of a joint venture contract just in case I need to work with another wholesaler to close a deal. I still have more work to do on the business plan but for now I think it will do its job, which is help guide me.

On another note I got my driving done this week and I drafted a second letter for my mail marketing to send out to the homeowners after about 2 weeks with no response. I also got another lead this morning. I believe it was another wholesaler, he said he would call me tomorrow. All in all things are coming together, slowly but surely.

Focus.

HubCap

Getting back on track

I would say this past week is a step back in the right direction. I ordered a car magnet that said "We buy Houses" and it had my phone number on it. I have been driving with it for about 3-4 days now. No hits from it yet but Im sure I will get a lead from it eventually. I also managed to get my butt back out there and drive around and I will be sending out a couple of letters this week.

A few weeks ago I mentioned something about sending mailers to Trustee sales I found in the news paper. I decided against it because of my limited funding. Marketing isn't as easy as I thought it was going to be but one thing is for sure, I am starting to shape the exact first deal that I am looking to close on. If the deal doesn't fit my particular criteria then it isn't a deal for me, HOWEVER I will be passing off leads to some other investors. I have someone in mind for short sale deals but I haven't called him yet because I don't have any leads. So aside from my few leads that I find for mailers every weekend, unless it is a marketing technique that keeps on giving I am not going to invest in it. I know I am moving slow but I can't burn my budget and be left with nothing.

For this upcoming week I have two goals. Get my letters out and finish my business plan. I should have had my business plan laid out first but better late than never.