A lot of investors have been feeling the pinch from the lack of non-performing inventory in the first quarter. I know I was hard pressed to find deals in Jan. & Feb. I knew it was simply the timing for sellers. Inventory would be ramping up soon and this week was proof of that. I also know the more sellers I’m connecting with, the more inventory I will receive. Just the few connections I made this week have been solid leads that have sent me GREAT inventory already!
If there is one thing to focus your time and effort on in this business, it is making direct relationships with reputable sellers that have good inventory. I’m going to continue to focus my efforts on this, and allowing my VA’s to do the small or timely tasks (due diligence, social media marketing, accounting/book keeping).
Monday March 7th – Sunday March 13th, 2016
Monday (Day Off)
Tuesday (2 hours)
- Sent a new tape to my Virtual Assistants (VA’s) to scrub and complete preliminary due diligence on. It’s a large tape of over 100 assets – so having them scrub it and filter it to my buying criteria while I workout, sleep, relax, and cook is AWESOME! OUTSOURCING IS GREAT!
- Got a new deal under contract in Warren, OH! It looks like it should be a good opportunity and would give our JV partner a 16% +/- ROI in a year or less.
- Emailed/Connected with 5 new potential sellers.
Wednesday (4 hours)
- Put in an offer on a note in GA & received a new tape of FL assets.
- Sent some needed info/docs to my new Bookkeeper & VA (currently setting everything up on Xero.com and it’s going wonderfully!)
Thursday (30 minutes)
- Looked at 2 new assets.
Friday (4 hours -So, I was bad. I worked on a day I’m trying to take off…but hey, I guess if deals are calling I’m not going to turn them away.)
- Recorded a new podcast for our website, NoteInvestingClub.com.
- Submitted 8 offers to 2 different sellers.
- Found out my OH deal is valued less than I expected, I’m having to open the negotiation table.
- Finished the FL Inventory & looked at another new tape (that was crap to be honest 0 not all tapes are considered equal).
Sunday (20 minutes)
- Finished this post.
- Read for 1 hour.
- Connected with 3 new sellers & started to receive inventory from 2 of them.
Total Income for this Week: $686.42
New Sellers Contacted: 8
Offers Accepted: 1
Total New Bids: 8