The Devine Secrets Of The Ya Ya Lease Purchase Hood

The biggest secret of conducting a successful lease purchase business is to have a plan. I know don't grown. You need to know what you want to do however, before you can do it.

So secret number 1 is to have a plan of action. Set up daily goals for yourself. (For example, I want to make 50 calls today, or I want to spend 20 minutes on the telephone, or I want to send out 75 emails, you get the idea). Just be sure that your goals are realistic.

Secret number 2 is to Write down everything you want to accomplish on Monday, Tuesday, etc., the time you want to do what (for example 8 a.m. to 9 a.m.- work on FSBO sites). Have a To do list, and update it every day.

Secret number 3 is to have a tickler file. A tickler file will help keep you organized, keep your desk clean, and be sure you don't forget to do something. Remember a tickler file tickles your memory. It is a accordion file with 31 days, you make up the manila folders with the months (or you can buy them with the months on the files already), and put your to do list for the next day in the tickler file, meetings for a particular day of the month in the tickler file. It is especially great for things you do on a consistent basis. For more information on what a tickler file is and how to use it, check the article archives on our website at http://www.homebusinesssolutions.com

Secret number 4 is to have a chron file. A chron file will help you find information quickly. It contains all correspondence you have generated for a month by date. It is a great time saver. Keep it in your desk or in a stand up on your desk.

Secret number 5 is to set up a good filing system. I am not going to go into detail on how this is done in this article, as this was already done in a previous article and can be found on our website in our article archives.

Secret number 6 is to have a good telephone script. Be sure your script asks for all the information you need to make an informed decision as to whether or not there is a deal, and whether or not it is a good deal. You want this information before you leave for an appointment. Remember you don't make an appointment unless you are going to get a contract signed.

Secret number 7 is to make the calls and send the emails. You need to make the calls and to send your emails out on a consistent basis. In any business you need to continuously market to get new business.

Secret number 8 is to follow up. After you have made your telephone calls -follow up. Send a letter, a brochure, a newsletter, whatever you decide works best for you. But if you don't follow up, you will lose a ton of business. I can guarantee it.

Secret number 9 is to have fair agreements and contracts. Your contracts and any and all of your agreements must be fair to all parties. If they are not, again, I guarantee you will have problems on a number of fronts.

Secret number 10 is to only do good business. We can't emphasize this enough. It has to be a good deal for the seller, a good deal for the tenant buyer and a good deal for you. All parties must be happy and feel they got what they wanted. If not, again I can guarantee you will have problems, and will not be in business for very long.

Secret number 11 is to stick to your plan. Remember the plan you made up to start with, well follow it. It's what you made it up for. So use it. Study it. If you need to revise it, do so. However, if you aren't going to follow it and do so religiously you are not going to be in business for a very long.

Remember the #1 secret of the Ya Ya Lease Purchase Hood is to implement that plan.

Copyright 2003 DeFiore Enterprises

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:subscribeHBS@homebusinesssolutions.com

AFP - Speculation about the stressed financial health of US mortgage-finance giants Fannie Mae and Freddie Mac swirled Wednesday as their share prices further plummeted.

Reuters - Shares of Fannie Mae and Freddie Mac dove to their lowest levels in more than 18 years on mounting fears of a government bailout that would wipe out shareholders of the two U.S. housing finance giants.

AP - Shares of mortgage finance companies Fannie Mae and Freddie Mac continued their plunge Wednesday as investors are increasingly convinced that the stocks will drop to zero if the government bails out the troubled companies.

AP - Mortgage application volume fell last week to its lowest levels in nearly eight years, the Mortgage Bankers Association said Wednesday.

Reuters - A growing number of U.S. adults are struggling to pay their medical bills, tapping into savings accounts, home equity and credit cards to cover health care costs, according to a survey released on Wednesday.

Reuters - Most Americans think that the worst of the fuel price spike that pushed gasoline above $4 per gallon has passed, but they have little hope that the housing market will stage a swift recovery, according to a Reuters/Zogby poll released on Wednesday.

AP - As mortgage financiers Fannie Mae and Freddie Mac struggle with continuing credit losses, their ability to raise needed capital is uncertain and, analysts say, is complicated by the possibility of a government bailout of the two companies.

AP - California homebuyers sprung to life in July, pouncing on foreclosed homes and deeply discounted properties but largely ignoring pricier homes that have been languishing on the market, a research firm said Tuesday.

AFP - The euro rebounded from six-month lows against the dollar after a spike in inflation and weak US housing market figures stoked fresh concerns about the US economy.

Reuters - U.S. wholesale prices shot up in July at the fastest annual rate in 27 years, while home builders cut back on construction as they worked through a glut of unsold homes, government data showed on Tuesday.

AFP - Investments in the bonds of struggling US home-loan financers Fannie Mae and Freddie Mac have earned Russia more than a billion dollars in the past six months, press reports said Tuesday.

AFP - The euro rebounded from six-month lows against the dollar after weak US housing market figures stoked fresh concerns over the outlook for the US economy.

AP - The Home Depot Inc. said Tuesday that its second-quarter profit sank 24 percent and reiterated its downbeat outlook for the year amid a weak housing market that shows no signs of recovery.

AP - Whether or not the government is actually on the verge of taking over mortgage finance companies Fannie Mae and Freddie Mac, investor fears that a bailout is imminent could turn such a worst-case scenario into reality.

AP - In the mortgage industry, they are called "liar loans" — mortgages approved without requiring proof of the borrower's income or assets. The worst of them earn the nickname "ninja loans," short for "no income, no job, and (no) assets."

Reuters - Investors dumped shares of Fannie Mae and Freddie Mac on Monday after a newspaper report said government officials may have no choice but to effectively nationalize the U.S. housing finance titans.