October 2009 Newsletter

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The best question I’ve ever been asked…..

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A new investor called me the other day for information about hard money, and asked me “What does your ideal client look like?”

For a second, I came to a full stop. I was blown away. Hey! No one’s ever asked me that before. And come to think of it, I don’t think I’ve ever asked any one that question either.

So here’s what happened.
 
First, I was impressed that he was on the ball enough to ask the question. So he got extra brownie points with me.

Second, I wrote it down so I could discuss it in this newsletter, because you all know I have the memory of a fruit fly.

Third, I answered his question, and

Fourth, I started wondering how much better business relationships we could have if we ALL asked that question.

What if you asked that question of:

Your lender – Ask your banker how you can make his life easier when you submit a loan application. I’m not talking hard money here, I’m talking conventional, but I suppose it applies to all. Maybe your loan will get approved and closed quicker
Your attorney – Maybe he will take a few extra seconds to explain something you’re trying to understand.
Your realtor – Realtors can feel kicked around quite a bit. You may be frustrated with a realtor, but if you try to look at it from their side, maybe you can develop a great synergy.
Your employees – What if you are making their worklife harder without realizing it?
Your customers – What if you are alienating them? That’s business gone you didn’t even realize. I know I’m guilty of that.
 
The list is endless. It applies to personal relationships also. So instead of telling you what my ideal client looks like, I’m going to ask you to tell me what your ideal hard money or one-day funding company would look like. Yes, I know, you’d want loans at 2% and zero points. Given that I already understand that part, how about you tell me the rest. Extra points for humor, and any really good ones I’ll put in my next newsletter. And please sugar-coat it because you know I always do. 🙂

Your partner in profitable investing,

Ann Bellamy

Buy Now, LLC

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Quick Tip

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Update on the new product below!

One of my customers read last month’s newletter and tried the new flooring product I mentioned. He said it went down extremely easily and was great! In case you missed it, I’ve included the tip below. Thanks, Brandon, for the feedback!!

New product might make a landlord’s life a little easier

Hey, I have no stake in this, but I saw a new product the other day that I thought looked awesome. It is similar to laminate flooring, like Pergo, but has a lot more pluses.

It’s called Allure, and it is a solid vinyl, somewhat flexible flooring in planks that are oblivious to moisture, wear like iron, look much better than most laminate, and are cost effective for the longer term. The planks adhere to each other with a double faced adhesive strip that can be lifted and replaced at will. The floor can get soaked without any effect other than having to clean it or get the moisure up from under it.

So you can install it in a rental without worrying about moisture causing the seams to swell and buckle. No underlayment is needed.

I haven’t tried it yet, but the flooring guy at Home Depot loves it. It is in stock at $1.79 per SF, and you score it with a utility knife and snap it when you are installing it.