Every 3 months or so I like to go back and take a look at what I’ve accomplished. It’s a good way to see how I have progressed in my quest at becoming a successful, full time investor. This exercise really helps me figure out if I’ve been spending my time on tasks that will lead to my goal or if I am wasting my time. I’m going to run a two part review, one for my real estate related items and the next to update how my blog is doing.
I slowed down a bit reading books the last three months. It’s not that I wasn’t reading though, it’s because it took me a while to get through the latest book Influence: The Psychology of Persuasion by Robert B. Cialdini. The book was really good and I learned a lot from it, but it was just very technical. I will have a book review about it in the near future. In all I read the following books..
- Influence: The Psychology of Persuasion (Collins Business Essentials)
- Switch: How to Change Things When Change Is Hard
- Start with Why: How Great Leaders Inspire Everyone to Take Action
- Goals! How to Get Everything You Want–Faster Than You Ever Thought Possible
So even though it took me over a month to get through Influence, I’m still keeping up with my 1 book a month goal that I set back in December.
Sending Out Probate Mailers
The last three months I’ve only sent out two sets of mailers because I wanted to wait 8 weeks from the time the probate files where issued as opposed to the 4 weeks I started out doing. This caused me to not send any letters out in April. Over all I believe I took a step backwards in terms of progress and momentum. Here are the stats for the last 3 months
Letters and Postcards
This quarter I wanted to try and do more testing of different letters and chose a new, shorter letter that I had and did a split test. I also tried hand writing some of the addresses and compare that to printing out the addresses directly. I sent out a total of 165 Letters. 85 of them using the Ron Mead letter and 80 using the alternate letter.
85 Ron Mead Letters
- 8 Responses
- 8% Response rate
- 0 Motivated
- 1 Not very happy
- 3 Not interested in selling
- 2 Take me off the mailing list
- 2 Interested in selling but have a realtor and looking for retail price.
Hand Written Envelopes Vs. Printer Printed Envelopes
- 4 Responses from each
- 4.8% Response rate
- 0% Motivated
I also decided to go back and resend postcards to those people I sent letters to back in November and December.
- 166 Postcards sent
- 1 response
- 0 interested
In conclusion I did not do a real good job of staying consistent with my mailings and fell off track big time. I got extremely frustrated with trying to keep track of all my lists because the number of lists grows by one each and every month. Sometimes you’ll get a call from somebody 4 months later and you won’t know which list they came from and have to go searching threw them all. This is what prompted me to create my own program (SI Lead Manager) that I’m still working on but getting really close to finishing thanks to some great beta testers!
Networking With Like Minded People
One of the things I wanted to do this year was get more involved with people who are actually investing. I wanted to establish a “support” group where I could bring any problems to and get help. I already have a great support group with all of you and you guys/gals are the reason I’ve gotten as far as I have. To be successful though, I believed I needed some local people who I could talk to or either team up with to lead me through a transaction in Northern NJ. I think I’ve accomplished this during the 2nd quarter of 2010.
Real Estate License
I haven’t mentioned this much over the past few months because at first I was in the process of switching brokerages and I needed to get my old broker to send me my license and deactivate myself from his control. This took a lot longer then expected.
However it gave me some time to think about why I really needed my license and if it’s worth it to actually keep it. The $1200 to $2000 yearly bills are quite steep at this point when I haven’t gotten any deals. Over the past few months I haven’t really had a need for it and I believe I could use some of my current connections to get access to the mls if I need it. If you may recall, about two weeks before I got my own access a friend of mine let me use his access. I’m going to ask him if I could use it again and if I get a yes, I’m going to just let my license fall away. What does everyone else thing?
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