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Posted over 7 years ago

Taking Action Now

Okay, it's been a few days (or a week) since I last wrote. I know I left you with a boring business plan that, after thinking more about it, could be a lot tighter and specific.

I fixed that but I don't feel like sharing. In short, I tightened my criteria even more so that I have a much more focused target when shopping for potential deals. The hardest part of this is the way I'm approaching my "Step 1" in reaching my goals this year.

I made a specific short-short term goal to reach my short term goals.

This year I want to close a deal a month or 3 deals by the end of the year.

I want to find and partner with someone to move forward in my real estate journey.

Finally, I want to form an LLC by the end of the year.

So, let's start with the 3 deals by the end of the year. I obviously don't have any capital to invest in a deal on my own and while I have attended my first REIA meet-up in the my town (action step one down) and got several business cards (action step two) AND even got a seasoned broker to agree to mentor me, I still only a few inches closer to realizing my dream (though it feels great to be a bit closer). So what do I have to do to make this happen?

Well, I have to make money somehow. I'm not bringing home stacks of Benjamins from my 9-5 job. So I have to figure out how to make extra cash. Though I thought of Uber driving, that isn't going to make things happen any faster, either. So, I'm going to Wholesale.

I've been driving for dollars and I have about fifty or so homes on my research list. I have researched about six owners so far (4 absentee and 2 occupied). My mentor lit a fire under me because he isn't going to be able to help me unless I bring him deals. He said, "Go out and get something under contract. Don't worry about the papers, the exit strategy, or anything else. Just get a seller to give you the option and then we'll work it together."

So, even though I have only got 6 leads, I'm not waiting until I get one hundred more and then send out yellow letters (I've been handwriting like fifty a day, btw). I'm going to call the numbers I found and then send the letters as I go.

I was scared to death of that first call and that's really the point of this blog/journal entry. I was talking myself out of it, finding reasons why it wasn't a good time but finally, it was about 6pm and I said "screw it, I have to get the first one out of the way" and I did.

It was a horrible scenario. My 16 month old has a bit of a rash on her but so I let her air it out by getting her naked and letting her play around the condo in her birthday suit. I got the guy on the phone. He was an investor but not wanting to sell, however, he was wanting conversation. The bad part was I couldn't hear a word he was saying. My daughter decided to poop on herself, which means she pooped on her leg and the floor. She started screaming like a banshee and there I was, trying to sound like a professional with a baby being tortured in the background.

I quickly thanked the guy for his time and asked if we could reconnect. He said he'd save my number for if he ever decided to sell a property then hung up.

I cleaned the mess up and walked away feeling full of confidence. It was a disaster but I did it. I made that first call and it wasn't that bad. I fumbled, I gave away my newbie-ness and stuttered a lot. I had a baby defecating in the background, for god's sake. But it was done.

Since then I've called the other 5. Several were old numbers and I left two voicemails. All of them are getting yellow letters that I'll send out this weekend.

I'm loving this game. I got to say. It's a sport and I'm in it to win. Come hell or high water....or something like that.

Thanks for your interest. Remember, if anyone wants to comment, throw out some advice, or even finance an investment with me, give me a shout.

Ben


Comments (2)

  1. Hi Ben,

    You have a great plan outlined as well as taking actionable steps towards your goals. Short term goals are key and accountability is huge! Keep setting time daily to achieve your monthly goals first.


    1. Thanks. I'm finding some days I feel lost and like giving up. I get this voice in my head saying, "what am I thinking? I should just go to work and forget this silly pipe dream."

      But I shut that voice up and keep on keeping on.