How Do I Implement The Lease Purchase Plan?

Well, as we have discussed in previous newsletters first you have to set up goals for yourself, both long term and short term. Don't forget these goals define how your business is run. They will determine what you do on a daily, weekly and monthly basis. The best way to do this is to picture yourself a year down the road. Close your eyes and get a mental picture of where you want to be, what you want to have, how you want to look, then open your eyes and write all that down on paper or speak into a voice recorder.

First determine how much time you will have to work on your business. If you are starting part time or spare time and think you might have 5-7 hours per week, in reality you probably will have 2.5 to 3.5 hours per week. Whenever we ask a partnering student how much time they have I always cut the time they give me in half. Why? Well because things come up, such as children, obligations, illnesses, their other job, etc. So rather than kid yourself and set yourself up for failure before you even start, be realistic with the amount of time you will have.

Once you have determined how much time you have, make up a 12 month plan. For example if you only have 3 hours per week to work, that means in a 4 week month you have 12 hours. So realistically, the first month is going to be getting yourself set up. Getting your identity package done, your template letters done, your database set, your telephone script done, your research (networking, FSBO sites). You want to start collecting newspapers (remember 5 weeks and older). Your second month would be going through the newspapers, and going on line to those FSBO sites and collecting numbers. During the end of the second month (6 weeks after you have started) you should be able to start calling on property. Depending on the hours you are doing your calls will determine how many people you get to speak with as opposed to leaving a message for them. Months three and four you will continue your calls, set up a networking schedule and do deals with one particular strategy. After you feel comfortable with that strategy you can move on to the next one during months five and six. Months seven and eight should have you starting the next strategy, and the same goes for the remaining months (nine, ten, eleven and twelve). During months eleven and twelve you should do some evaluating of your goals for the year, and start thinking of where you want to go in year two. Be sure to write articles up for each deal and make note of things you did wrong (yes, you will make mistakes) and how you fixed them for subsequent deals.

Once you have your monthly plan set up, break that down in weekly goals, and then set up your daily goals to meet your weekly goals. If you don't meet some goals, don't beat yourself up. Look at the reasons why you didn't meet your goals for that particular day, week or month. Did other things get in the way (family, work, health issues) or did you just slack off. Sometimes you need to take a breather and come back with some fresh energy. So if you need a break once in a while take one.

However, you need to realize if you want to succeed you need to make a commitment to implementing the plan you set up. If this means missing some television shows, shopping spree, visiting with friends or some sleep; then that is what you have to do.

So start implementing the plan today!

Copyright DeFiore Enterprises 2003


Interested in having your own successful, home based creative real estate investing business? Chuck and Sue have been helping folks start successful home based businesses for over 19 years, and we can help you too! To see how, visit http://www.homebusinesssolutions.com for the latest FREE tips and tricks, educational products and coaching in creative real estate investing and home based businesses. No time to visit the site? Subscribe to our "how to" Home Business Solutions Digest, it's like having your own personal coach: mailto:[email protected]

In The News:

Future of commercial real estate in India - People  Construction Week Online India
Pune's real estate market post pandemic - People  Construction Week Online India
ESG in real estate - People  Construction Week Online India

Home Buying Checklist ? Windows

If you are in the market to purchase a home,... Read More

Old House? New House? Weighing Your Options

Maybe it has something to do with a childhood home... Read More

10 Easy but Essential Steps for Home Selling Success

They say that the whole process of selling up, buying... Read More

Real Estate Appraisal - Do It Yourself

For single family homes, there are two basic methods used... Read More

How Not To Blow Your Build Budget

Most people who complete a self build will go on... Read More

Commercial Income Property Financing: Part 1 of 3

Welcome to this first portion of a three-part series about... Read More

How Much Home Can You Afford In Todays Market?

If you haven't figured your credit worthiness and borrowing power... Read More

Do You Speak Real Estate?

Anyone interested in real estate should be able to talk... Read More

Setting Goals for Real Estate Success

The power of goal setting has been well documented and... Read More

Cashing Out of Preforeclosures - Exit Strategies for Maximum Profit

One of the quickest ways to real estate profits is... Read More

Why Property Investors can Crash and Burn

Many experts say you can't lose if you put your... Read More

Using Color Psychology to Sell Your Home

When painting your home for resale, choosing the right colors... Read More

How to Buy Fixers for Profit

Do you dream of becoming a multi-millionaire real estate investor?... Read More

Choosing a Reputable Real Estate Appraiser

When you are considering purchasing a property; either for investment... Read More

Sell your Property Faster

Learn how to sell your property faster and at the... Read More

Estate Agents on the Costa Blanca Spain

Properties for sale or to rent on the Costa BlancaAs... Read More

The Best Way To Get Real Estate Listings

The Real Estate Industry is HUGE and is a golden... Read More

Before You Buy A House ? Top 10 Tips

There are serveral things you need to think about and... Read More

Investing in Real Estate Profitably: Financing Options for Purchase of Rental Houses, Part 1.

This is not an article about tricks for 100% (no... Read More

Housing Froth Creating Imbalance for Consumers and Investors

Home buyers and sellers should think twice before jumping into... Read More

A Crash Course On The Payout Options Available To You When Selling A Mortgage Note

Okay, let's take a look at the typical payout options:Full... Read More

10 Frequently Asked Short Sale Questions

1. What happens to the seller's credit rating when they... Read More

Get To Know About Building Codes & Town Planning Applications, If You Want To Build A House

These are real building questions that I received from readers... Read More

Home Equity or Debt Trap?

Are you using the equity from your home to purchase... Read More

Whats This about a Housing Bubble?

In his recent testimony, Alan Greenspan warned against the possiblity... Read More