Monday, November 19, 2007

Out Done

So I happened to stumble upon this today in my Reader queue:

Foreclose Market Picking Up

It seems people have caught on quick. While I'm not concerned with her class, I am concerned about her website. It seems to cover all of the US market down to each state's individual counties. When I check against my list from the courthouse, it doesn't seem to match up exactly. Upon further review, her list is extremely accurate, but I'm not sure why it does not seem to be as inclusive. The only thing I can think of is that she is filtering her list better than I am and only putting up ones that are definitely going to court. Regardless, this is trouble.

While there is always some market for the small guy that's local, this website seems to have seen the lack of information in the market place and dived right in to fill the hole. I'm extremely impressed and not really sure where to go from here. I do have an investor lined up at this point, so I can start working specifically on leads he will want starting Friday, but I'm not sure how this will effect future growth.

Along with this development, my stocks are now in the red as of today. In mid August, when there was a market correction, my stocks plummeted to the lows I'm seeing now and they temporarily bounced back afterwards. I'm not confident I'll see that happen again in the near term. While I'm going to stick with the value approach and continue to follow the instructions, it still leaves me a little disheartened.

I'm not sure if any failures get to me and I remember them more than successes, or if it's just that I haven't had many successes. Right now is definitely a low point one way or the other.

2 comments:

Thomas said...

Did you manage to get a website for your business up an running? If you have - what can be done to improve it?
What's the status on the car? If you get hold of it, will it improve the service, that your business provide?
Customer is king, right? YOUR customers care about what they get from YOU. How can you improve your service?
What about business cards, are they ready yet, do you hand them out?
If you are passionate about the nature of your business I think you should keep going. After all, we both know what's down that old road - and it ain't pretty ;-)

~christophany~ said...

Thanks for the support. I really appreciate it.

I haven't put a website up yet. I do not have access to a static IP address currently, and will unfortunately not be able to acquire one until I move. I did discuss some potential software packages to put together a Web 2.0 site with people in the know, so the background code will not be too hard to put together once my situation changes.

Unfortunately, the car I was going to purchase was advertised in a shady manor in which the fine print states that the price listed was after a $2,000 dealer financing or equivalent trade in. So I'm currently look for other options that would compare favorably against the new price for this car.

Currently, this is the first week I'm working with this new customer. I'm planning on looking into leads for his zip code on Friday at the courthouse. Now I'll be able to supplement the information I find with what is available on foreclosure.com, so it turns out to be beneficial to my cause.

The beauty of this business is that it doesn't require a large capital expenditure to get started. The unfortunate downside is that now it has become the latest business fad with everyone reading about all the foreclosures in the market. While this trend is big now, once 90% of the people jumping in get a taste of failure or see the lack of instant success, they'll move right on to the next thing.