Taking First Steps Towards 2020 Goals

So, it has been 11 days since my last post when I have identified my goals for 2020 and 2021.

Goals for 2020:

1. 1. Purchase my 1st Flip property
2. 2. Decide if I need a business entity and register it if I will decide that I need it

Goal to purchase my 1st Flip Property is obviously the main one for the year. Registering an entity without doing a business would not make any sense.

With the primary goal of purchasing a property, here is a list of challenges that I think I need to overcome:

1. 1. I need to generate Leads
2. 2. I need to create a way to stay motivated and built in some accountability into day to day activities
3. 3. I need to generate a network of professionals that I will be working with

Here is a list of tasks that I have generated so far to achieve both, my primary goal of purchasing the 1st property and to decide about business entity based on the challenges listed above. I am sure that it is not complete, but I will be adding to it as I go.

1. Obtain business phone number – Complete 9/6/2020

2. Create a Website for motivated sellers – Complete 9/6/2020

3. Create business email – Complete 9/10/2020

NOTE: There is an option to get personalized emails and phone numbers through the Website host.

4. Get PO Box with actual street address – Complete 9/8/2020

5. Order Business Cards – Complete 9/11/2020

6. Get a List of high equity absentee owners in an area I am interested to buy – Complete 9/11/2020

7. Create a verbiage for first set of Direct Mail letters – Complete 9/13/2020

8. Order first set of Direct Mail letters – Complete 9/13/2020

NOTE: Re-Send Direct Mail every 4 weeks

9. Start Driving for Dollars (DFD) – Started 8/19/2020

10. Create 1st revision of personal list of Leads from DFD – by 9/18/2020, started 8/19/2020

NOTE: After 1st revision is complete, need to update weekly.

11. Create a verbiage DFD Direct Mail Letters – by 9/18/2020

12. Order DFD Direct Mail Letters – by 9/18/2020

NOTE: Re-Send Direct Mail every 4 weeks. Use different phone number for KPI tracking.

13. Start looking into Code Violations – by 9/18/2020

14. Start looking into Fire Damaged properties – by 9/18/2020

15. Start looking into Delinquent Taxes – by 9/18/2020

16. Start looking into Probates – by 9/18/2020

17. Start Cold Calling to DFD Leads – by 9/21/2020

18. Find 10 Wholesalers and get on their Buyers List – by 9/25/2020, started 9/3/2020

19. Get Pre-qualified with 3 Hard Money Lenders – by 9/25/2020

20. Meet with my RE Agent – by 9/25/2020

21. Meet with CPA – by 9/25/2020

22. Meet with Mortgage Broker – by 9/25/2020

23. Meet with RE Attorney – by 9/30/2020

Wow, it looks like a lot to do.  Though since 8 tasks are now complete, I can mark it as 34% complete on initial steps. Makes me feel good 😊

Lessons Learned:

1. I am way slower than I thought I will be. Need to adjust when task planning and work on self-confidence.

2. There was no need to finish customization of a Website to start on mailers. I could have sent them one week earlier after getting a phone number and publishing first draft. Customization can be done after 1st batch of mail is ordered.

3. Starting to see some initial signs laziness – need to set up steps for accountability and motivation.

Overall feeling: I did rather good. Feel positive.

I welcome all comments, suggestions, and advise.

Thank you,

Elena Strong.