After work being so slow for so long, it is both gratifying and exhausting to have so much going on with DBNR. There have been updates and hiring and even some detective work going on.
Every week I compile and send an update to our investors. The first set of financials on our project to buy and re-sell distressed properties is due this week, and it looks like we’re already keeping our costs lower than expected.
We were involved in detective work on multiple fronts. The company through which we’ll be ordering credit reports vetted us to make sure we were a real and viable operation.
At the same time, we found out that our representative in Kansas City, Mo., had put up a for-sale sign on someone else’s lot. It took a little while to track the error all the way back through the company we’re working with, but we finally determined that the error originated with one of the original lenders sending a bad address. That lot materialized into another home - Wonderful!. We delivered profuse apologies and the problem was rectified.
Being accurate is important because we’re taking dozens of phone calls on the properties we’ve listed, so much so that we’ve begun a spate of hiring (good news here in the valley). We’ve brought in an administrative assistant to offload some of those duties, and we’re developing a sales structure and a compensation plan in anticipation of bringing on another salesperson next month.
We hired a remote agent in St. Louis, Mo., who is not only showing properties, but who is also an all-around handyman, gardener, and even inspector when necessary. We have 28 potential buyers for this particular property and we are weeding them down to the most-qualified five. And we’ve contracted with a wholesale buyer who will list all our properties on her website and add her fee to what we give her as our price.
In addition to all the other reasons I am enjoying this project, I am delighted to be interacting with people from all over the country, all of whom are working toward a better life and economic situation for their clients.
