Our phones rang off the hook this weekend due to 30+ bandit signs all over the city this weekend (thanks to Steph in Tampa for giving us a great idea for a compelling ad on our handwritten signs). We're definitely growing the buyers list and its good to have a chance to talk to some of the investors in the area. We have 6 solid leads for our current properties and we'll see what transpires over the next week. Some of the other folks who called were just tire kickers and others ignored the part of the sign that said "CASH ONLY" so we wouldn't be able to do a quick sale with them. They still are potential future buyers but just not on something that we need to move really quick on. In the meantime we're gearing up to line up the funding with the hard money lenders (and potential private lender) for the properties in the event that we rehab them ourselves.
We're also working on establishing business credit for the business. Dustin Mathews has some great training on this topic and we're already putting the plan into action. We applied for a Dun & Bradstreet number so we can establish a credit file for our business. We'll also apply for some trade credit and then some cards. The idea is to establish a good history over the next few months so that we can get some lines of credit available to us to help with funding deals in the future at a lower interest rate.
That's all for now. I'm on pins and needles awaiting the results of this election.
Sunday, November 2, 2008
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