kenc138 0 Report post Posted June 18, 2009 Hello fellow investors, I've recently finished a few mentoring sessions and have done my due diligence in learning LP strategies, and now it's time to start the business and put this stuff to work. I am quickly finding that there is so much to do when first starting out, and would REALLY appreciate some guidance from you veterans as far as prioritizing the to-do's of running a Lease Purchase business. What should I begin working on first? Should I start making calls first, build my website first, business cards, TB lists, motivated sellers? What has worked for all of you? Is it absolutely essential to have a website when first starting out? Thank you all in advance. KC Share this post Link to post Share on other sites
MichaelC 160 Report post Posted June 18, 2009 Hello, Ken, and welcome to The Naked Investor.I think the first thing you need to do is start contacting homeowners, both via phone and email. Marketing is your key in business. Your market needs to know who you are, what you do, and how to contact you. While you are contacting homeowners, you can also get a business card made up quickly and inexpensively. Your marketing, or course, will be wholly dependent upon your budget. The more you have to spend, the more elaborate you can get. Truth is, these days marketing can be a cheap commodity. Many online websites are free. It doesn't get any cheaper than that.As for a website being essential for starting out, I would say definitely not. Few homeowners I ever meet have based their decision to do business with me because of a website or a lack of one. Bottom line: keep it simple and don't overwhelm yourself. Start contacting sellers and let's see what happens. We're here to help. Share this post Link to post Share on other sites
kenc138 0 Report post Posted June 19, 2009 Hello, Ken, and welcome to The Naked Investor.I think the first thing you need to do is start contacting homeowners, both via phone and email. Marketing is your key in business. Your market needs to know who you are, what you do, and how to contact you. While you are contacting homeowners, you can also get a business card made up quickly and inexpensively. Your marketing, or course, will be wholly dependent upon your budget. The more you have to spend, the more elaborate you can get. Truth is, these days marketing can be a cheap commodity. Many online websites are free. It doesn't get any cheaper than that.As for a website being essential for starting out, I would say definitely not. Few homeowners I ever meet have based their decision to do business with me because of a website or a lack of one. Bottom line: keep it simple and don't overwhelm yourself. Start contacting sellers and let's see what happens. We're here to help. Michael, Thank you for the warm welcome and for taking the time to respond to a noobie post! It's nice to have some backing from others in the business who know the ropes. I will begin calling people tomorrow morning and firing out some emails. As for my target market, I was thinking of contacting Dataquick for a list of absentee owners. Would this be a good approach? Thanks again!Ken Share this post Link to post Share on other sites
MichaelC 160 Report post Posted June 19, 2009 As for my target market, I was thinking of contacting Dataquick for a list of absentee owners. Would this be a good approach?Sure. Dataquick is a well known player in the market. They have extensive databases of consumer names, addresses, numbers, etc. that you can choose from. You may also want to shop around, (Google), to compare offerings of other marketing list companies. Share this post Link to post Share on other sites
jhanson8 0 Report post Posted June 19, 2009 As for my target market, I was thinking of contacting Dataquick for a list of absentee owners. Would this be a good approach?Sure. Dataquick is a well known player in the market. They have extensive databases of consumer names, addresses, numbers, etc. that you can choose from. You may also want to shop around, (Google), to compare offerings of other marketing list companies.I also suggest contacting title companies in your area to see if you can get a list for free. Many will give you a list in hopes that you'll bring business back to them. In my area Chicago Title and First American have been real helpful; all they asked me was my name, what company I worked for, and my email address, then they sent me a list within 48 hours. I think it depends on the person you speak with and how busy they are. You may have to call a few places, but it's better than paying. Share this post Link to post Share on other sites
Guest jvmccall Report post Posted June 21, 2009 KC, I love to see how you are jumping at the bit to go! That is awesome. MichaelC is exactly right... Focus on marketing first and start talking to sellers. Business cards and websites are important, but not as important as marketing and making offers. You can have a fantastic website and really cool business cards, but they are not going to get you any deals. You will only make things happen if you make offers. Get on the phone and call For Rent ads in the paper, email Craigslist For Rent ads, send personalized postcards to absentee owners, etc. Just get out there and do it! You are off to a great start - I can tell already. Joe Share this post Link to post Share on other sites
kenc138 0 Report post Posted June 22, 2009 jvmcall, jhanson8 and Michael, Thank you all for taking the time to post replies and help out a noobie. You've all helped to clarify which objectives I should be focusing on for the time being. I will keep you informed of any successes. Kind Regards,KC Share this post Link to post Share on other sites
MichaelC 160 Report post Posted June 22, 2009 jvmcall, jhanson8 and Michael,. . .I will keep you informed of any my successes. Kind Regards,KCFixed. Share this post Link to post Share on other sites
kah5683 0 Report post Posted June 22, 2009 jvmccall: sent you a pm Share this post Link to post Share on other sites
