Another week has past and some progress has been made.
1. Ramp up the remaining aspects of the advertising plan; flyers, post cards, business cards, news ads, etc. (still pending as a lot of my advertising copy will depend on the outcome the response of my lawyer)
2. Acquire a pre-foreclosure list from either the County Recorder or SalesTeamLive. (I worked out an arrangement with another investor in town who already subscribes to the County Recorder database. I post his properties to CraigsList and other sites, he shares his subscription. This should be an excellent arrangement.)
3. Follow-up with local Title Companies (There is actually a title company that is tied in with the lawfirm that I’m working with, so I kind of found a 2 for 1 when I selected my new lawyer. The title company that the lawfirm is part-owner of can do everything I need it to.)
4. Find additional Realtors to work with. I’m only working with two at the moment. I think one of them has been avoiding me since our first meeting, after she found out I was new to investing. The other seems to be out of town often. I need to not limit myself here. (still diversifying here, they are all still so slow to respond. I’m finding this as a commonality across the board with Realtors. I’m guessing they won’t become as responsive as I’d prefer until I start bringing commission checks their way.)
5. Find out how I can legally build a birddog army. But not only birddogs who find property, but more-so birddogs who can help find property buyers. (I had a meeting with my new lawyer last Friday and it went really well. This guy is sharp and seems to know real estate inside and out. Regarding my birddog army, my main concern was being able to utilize buyer-side birddogs. I know that seller-side birddogs can be utlized on a per-lead basis or per contract as long as they have the equitable interest. He is going to do some further research and get back to me regarding buyer-side birddogs.)
6. Narrow my focus even further to single-family properties in Southwest Champaign. (I completely slacked on getting more accomplished on this. I just found out that door-hangers in Champaign are against Muncipal Code, however I get them all the time. Still thinking about whether I should do this or not. As far as direct-mail, I am screen-scraping more of the county records as I type with Mozenda. I still need to contact a Realtor and see if they will be forthcoming with sharing the expired listings within my target area. And as far as the secret-contact method, I think I’ll defer this until next weekend.)
7. I found a Realtor who is interested in the Podcast, so hopefully I can get this underway shortly.
8. Regarding, my Marketing Matrix. Unfortunately this keeps changing. The more I learn about internet marketing, the more I realize I need to intertwine this into Real Estate marketing. The difficult aspect is utilizing the various internet marketing platforms with my limited marketing budget. This will be so much easier after my first couple of deals when I can reinvest all of the profits into marketing.
New Goals for the week of July 28, 2009:
1. I’m thinking about whether or not I should get the “Virtual Bird Dog Blueprint” course. After doing a lot of research on this course, it seems to be exactly what I need for my scheme. However, a voice in my head is telling me not to purchase any more courses. But I think I’ll ignore that voice. There of course are those who purchase all the education in the world and never get started, but I’m not even close to those people. I think if I didn’t get everything setup ideally from the start, it will cost me more money in the long run. After just typing that, I’m convinced. I’m going to place my order tonight.
2. This is somewhat unrelated, but I need to finish the Freelance web projects I have on my plate. Once I have them finished I should have another $800 that I can throw in the marketing budget.
3. I need to stop playing phone-tag with my potential VA and phone-interview her to see if she would be a good fit to perform the tasks I need her to do. The tasks would be to update some of my other social networking sites with current posts (biggerpockets.com, realestateinvestor.com, etc.).
4. I’m thinking I need to revamp my squeeze page strategy. After reading the SIMS Profit guide by Greg Clements, I now know that squeeze pages are more important than I originally thought. I have a company website, but I need to restrategize and implement squeeze pages without revamping my company website that took me ‘forever’ to create. The reason this is a priority is because I need to know what site to specifically market on the ad materials I create after hearing from my lawyer.
So, I have a lot of things on my plate. I’m sure I’ll complete my first couple of deals as the result of my second ad campaign. However, I right now I’m still ironing out the details of how I will structure it.