My REI Plan - Part 3: Milestones

Introduction
In order to guage my progress, I need to set up short-, intermediate-, and long-term milestones. This will give me an idea of what adjustments I need to make in order to realize my goals on time. While I cannot predict the future, I can try to plan it accordingly by outlining the steps I need to accomplish and when I need to accomplish them.

January 4, 2005: Attend Local REIA Meeting

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Talk with other RE investors, attorneys, title/RE agents, everyone I can. Get an understanding how the REIA meetings work. Network with members, handing out business cards (if available) complete with my name/phone/email. Start getting an understanding of what other people do, and what their focus is on. Get names of people they recommend and don't recommend for various duties. Let people know what I am interested in doing, and how I can help them.

January 1, 2005: Acquire Cell Phone, Voicemail and Business Cards

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Get a cell phone to handle calls for the venture. Subscribe to a voicemail service, so that I can screen calls without it hammering away at my minutes. Design and order business cards so that I can leave a physical mark to people on who I am and how I can help them.

January 15, 2005: Start My Business

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While I will probably set up an LLC, I want to get other people's input first on the best way to handle the legal aspects of my operation. I've heard that people getting started don't need to start a business, but I would rather be safe than sorry. Plus it gives me added incentive to stop procrastinating. I've already got a few ideas for the business name, but I'll hold off on establishing it for now.

February 1, 2005: Magnetic Signs

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I want to get magnetic signs for my car, so that I can further market myself in my farm areas. Not sure how much business this will generate, but I figure it will pay for itself in the first deal I get.

February 1, 2005: Run Ad in Local Papers

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Run my first "We Buy Houses" ad in the local paper. At this point, I will have invested close to $1,000 in my venture, so that should be incentive alone to keep going.

I'll add/modify/delete more milestones as needed in future posts.