Following the Yellow Brick Road

I mean, really, isn’t that what it’s like?  I have a certain path set out before me, and my dreams are wrapped into following  it carefully and diligently.  Dorothy’s metaphorical road is similar to my own (well, the gold part), along with her whirlwind journey and fair share of unhelpful people.  That, and I also have red hair!  🙂

Last week, my goals were:

  • Perfect my probate lead-gathering system and WRITE IT DOWN (for future outsourcing)
  • Research 50 evictions.  Send postcards to all.
  • Research and send 50 probate letters.
  • And for the month of March, they were:

    • 100 probate letters sent
    • 60 (?) eviction postcards sent
    • 20 vacant house postcards sent
    • 10 MLS offers made

    Although I didn’t completely meet my goals, I did get a lot done:

    • 76 probate letters sent
    • 86 eviction postcards sent
    • Worked on (not finished) probate system
    • Worked on a REAL DEAL

    Speaking of  the deal, it turns out the property is worth less than we thought and the repairs will be more (as in $90k!).  I couldn’t even make an offer that covered the balance on the loan. 

    After talking with my business associate (D), we thought of two options she had: 1) put some money into the nicer of the two houses, and try to sell it as a fixer upper, which MIGHT cover the mortgage balance; 2) attempt a short sale.  In terms of money and hassle, the short sale has the advantage. 

    I spoke with her on Friday, emailed her my thoughts on Saturday, and will call her on Tuesday.  She was kind and appreciative and soaked up the information I gave her (see? isn’t she a dreamy first lead?).  I would be entirely satisfied if all that comes out of this is that her problem is solved with my help. 

    New goals for April:

    • Probates for 2 more months in 2 counties researched and sent
    • Evictions for 2 more months in 1 county researched and sent
    • Business cards (that I ordered yesterday) passed out
    • Probate tutorial finished
    • Follow-up system for probates & evictions created

    Have a great week!

    P.S.  Okay, I’m not so sure The Wizard of Oz metaphor is such a great one, considering that he turns out a fake and Dorothy’s dreams are a sham.  Yes, I’ll be thinking of something else this week!

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    2 Comments

    Filed under Deals, Evictions, Probate

    2 responses to “Following the Yellow Brick Road

    1. She was definitely a dream first lead. The more conversations you have, the easier it all gets. Yes, you’ll get some doozies (we’ve certainly had some…see here: http://www.goodfaithinvesting.com/2009/08/17/7-sure-fire-signs-that-your-seller-is-not-motivated/), but you’ll get some great ones like this one too 🙂

      Keep pluggin’! We’re all rooting for you 🙂

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