Status on recent prospects and my CPA

There were two prospective properties I was interested in earlier this week. The first was a deal I passed on early in January, but I decided to go ahead with after doing some more calculating. I still haven't heard back from the owner, so I'm guessing either she is no longer motivated, found another buyer, or is still cotemplating what to do next. I'll send her a follow-up letter next week to make sure.

The other property I was looking out was put on the market one day and was sold the next. It wasn't a great property by any means, but there was some definate profit to be made to someone who knows what they are doing. I'm guessing a savvy investor bought it for less than the asking price.

I met with my CPA after work yesterday to finalize our 2005 taxes. It turns out she did already e-file our return, but said in order for the IRS to initiate the refund, they would need the form she had us sign. So it may be another week or so before we get our refund. I figure about half of the refund will go towards paying down some of our CC debt associated with House #1. The remainder will be split between personal stuff and business marketing. I plan to start sending out postcards on a regular basis to several neighborhoods starting next month. I want the mail-outs to be consistant, too. For instance, I'll hit on-third of a neighborhood once every three months. This will cover the entire neighborhood four times a year, which should get my name out to people. I figure each postcard mail-out will have negligable costs, and those costs can be written off as business expenses anyway.

My only worry is that I won't have the time required to actually go meet with sellers for a while. What free time I have now is used to either sleep or get caught-up with personal matters.

On a side note ... I got in contact with a relative in Indiana. Her husband is a relatively new CPA, and I may try to forge a business relationship with both of them. I've noticed properties in and around where they live are cheaper than down here - at least the distressed ones are. I figure there is an opportunity to get some properties up there and have my relatives living there help me find, acquire, manage, and sell them for me. We'll see.