Post #10 - Howdy Partners

Investors,

I thought with the long 4th of July weekend last week, I'd have more time to Drive-for-Dollars but I was wrong.  Here in mid-Missouri, we got rain for 60 hours straight.  But I'm not complaining because I got to spend a lot of time with my wife and son.  I also had more time to read a few books which is the second best way to spend a rainy day.

On Tuesday, I had a conference call with two of my best friends from college who are interested in investing in real estate.  We have been brainstorming about investing together for the last month or so and we had a good conversation about our long term goals, partnership structures, exit strategies, and types of deals.  I did a lot of talking because I'll be the property manager (at least until we get enough properties to warrant outsourcing it) and I've done the most reading, legwork, and learning about REI so far.  I know a lot of people caution about investing with friends but I'm confident in these two men and their integrity to do what they say and say what they mean when doing business.

On Wednesday, my wife and I attended a local REIA (actually, I think it's PREIMA) in Columbia, MO and listened to several other couples talk about a conference they attended a few months back.  We learned a lot just by listening to the investors in the room and my wife was asking me real estate questions the entire ride home which was great.  It was also like a little date night which is a great bonus.

Currently, I'm working on hand-writing direct mail letters to my Driving-for-Dollars list.  I found a bunch of old legal pads in my parents' basement and I don't want to spend the money on YellowLetters.com right now so I'm just going to spend the time and write the letters myself.  I plan to send one letter to my entire list by the end of the month.

My next goal will be to form a business entity with my two future partners and then save $5000 for real estate to cover closing costs, inspections/appraisals, administrative, and marketing for the next couple months.

This week may not sound that exciting but like they say "it's a marathon, not a sprint".  I'm here to get rich slow and stay that way.

Trent