First, I’m revising my spreadsheet that I’ve been using that combines the comp evaluator, repair estimator, deal analyzer and investment summary. I have it all in one sheet so I don’t have to rewrite information from another sheet (like the repair costs from the repair estimator carries over to the repair costs on the deal analyzer). I’m trying to figure out how these equations on the deal analyzer template work so I can copy them to my spreadsheet with a better understanding of what they do.
Second, my website is up and running! I have a LOT of little things to do with it still. I’m waiting for my graphic designer to give me final branding assets and a header for the website. Until then we will have to use the stock images provided by WordPress.
Third, I started a daily task list for myself to market myself better. I’m nervous to start getting calls! My coach told me to do the following things every day:
- Post 3 ads per day on Craigslist – dedicate each day to something just a little different. For example, on Mondays I should post ads that say that I’m an investor looking to buy properties. On Tuesday, my ads will say something like “Are you going through foreclosure? Are you looking to sell quickly?” etc.
- Look through Craigslist every day to find For Sale By Owner (FSBO) properties.
- Clean out the email@example.com email box. I have subscribed to a bunch of automatic updates from realtors and other websites, and I need to separate the good deals from the bad ones.
- Update my social media – Facebook, Twitter, Pinterest, Instagram, and LinkedIn. I don’t have a LinkedIn profile yet because I’m nervous about making such a huge change to my profile (I need to create a Peppercorn Properties company page linked to my personal profile). I’m also waiting to do anything with Instagram until I start renovating. I don’t have any pictures to show at the moment.
- Actively call leads – don’t just wait for them to call me. Contact people from Craigslist and other sources and be proactive, not just reactive.
Fourth, I spoke with some hard money lenders who gave me some good advice. They told me if I can find a private money lender to hold a second mortgage they would consider lending me the first mortgage. There is still so much to learn!
Fifth, as I was updating my website, I was looking at my competitors’ websites for inspiration. This one couple has a great website. I even found a “resources” tab that has two spreadsheets just like ours! I reached out to them to see if they would be willing to show me how to use them and the wife got back to me. She was very friendly and helpful and I expect she will be a good colleague to have in the future.