Day Two
It's a Sunday and not much can be done but scheduled my handyman to walk through with me, chose a company name and created a domain. I do our current company on Blogger but I think it's time to get a little more sophisticated.
All those actions are, of course, time fillers whilst I wait to get some real work done on the due diligence.
The plan is, invest about 90 days of starter cash from other assets and see if I can create this as profitable, free-standing entity, entirely separate from the existing Land Company. Goal - $100 door in 90 days. 10 doors.
Comments (6)
Ken - great questions. I am an over planner as well. I started with knowledge based (this is my turf) estimates on values and rents then worked diligently to determine major repairs, cost of financing and the usual costs of maintenance, utilities, insurance,vacancy, taxes and so on. I have decided not to put actual dollars up until closed because I don't want to do anything that would expose the deal to risk. When closed, I intend to put the numbers up in broad strokes and let folks know how it all comes out. Until the utility surprise today, I was very confident. I remain confident it will cash flow on it's own, less confident I will reach the initial profit goal in 90 days. Thanks for your interest, it's already been a steep learning curve.
Deborah Burian, over 11 years ago
Your post states, "The plan is, invest about 90 days of starter cash from other assets and see if I can create this as profitable, free-standing entity..." I'm big on planning. I've been an IT project manager for years so if anything I tend to over plan. Please give us an idea of how detailed a plan you developed. Does it include financial projections that include detailed estimates of your "starter cash"? Barring big maintenance surprises, how sure are you you can make it a free-standing entity? Thanks!
Account Closed, over 11 years ago
Hmmm... I thought all the links would show consecutively on the blog... Day one is "Contracts signed"
Deborah Burian, over 11 years ago
You wrote "day two", wondering where "day one" is.
Dawn Anastasi, over 11 years ago
I don't understand...
Deborah Burian, over 11 years ago
Hey Deborah B. please link to Day One so I can follow your soap opera. Thanks
Al Williamson, over 11 years ago