Cash Flow Express- Tips On A Home Office
Published: Sat, 03/16/13
March 16, 2013
www.PaperSourceOnline.com
Hello again ,
Most people who invest in and/or broker notes
and cash flows do it out of their home office.
A home office presents special opportunities
and also special challenges.
Below is an Internet forum exchange on the subject that I thought
you'd find fun to read, and you'll probably learn a few things,
too. I did!
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Cheers,
Bill
W. J. Mencarow
www.PaperSourceOnline.com
www.PaperSourceUniversity.com
P. S. If you haven't registered for the Note Symposium, you
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How To Work Out Of A Home Office
(an Internet chat room discussion among note
brokers and investors)
LoanCutie: Hello All! My question would be do any
of you work out of your home office, either on the
whole or partially? I am thinking of moving into my
home office soon but I'm not sure if that's a good
idea or not. Anyone here have any advice on how to
stay motivated at home, I have heard that it can
be hard and make you somewhat lazy. Any advice
on how to make it as smooth as possible
would be appreciated.
newmexbob: I worked out of my home successfully
for six or seven years. What I did was to
make sure I started on time every day, dressed
for work (not PJs), and refrained from "doing stuff
around the house." I kept my office as organized
as it ever is (not very, but I try) in case a client
might come by. In other words, I acted as much as
I could like the ho*me office was my old place
of work. Good luck!
Old Hand: Bob makes excellent points, especially
about dressing for work. You might also try to
have your office situated so you can close a door
to minimize distractions, and hang a "Working,
Do Not Disturb" sign to keep the family from
interrupting too often.
Little Devil: I find myself out on the road more,
networking, meeting with note holders and just
using my home office to do paperwork or make
some follow-up calls. (The cell phone bill is a lot
bigger now!) If I had to choose a "Real" office or
my home office I will stick with the home office.
I feel more motivated.
quickfix: A lot of seasoned pros think that it's
unprofessional to work from your house. I don't. I find
that some clients enjoy coming to my home office
because it's informal and friendly. On the
other hand, some clients expect me to have an
executive office-type presence. For them, I invite
them to meet me at my attorney's office, or I
go to their home. Most times they elect to do
business over the phone and mail. If the client is
Realtor-referred, I go to the Realtor's office. No
big deal, either way.
You must, however, be totally equipped out at home with
good equipment and a separate phone line, in my opinion.
Your environment must be organized and comfortable.
vabchmonehape: The only problem I have found
working out of my home is knowing when to
stop. I notice that I work more hours.
People forget that you're working out of your
house and feel that they can call or fax you
any hour of the day or night. I have had to
learn to discipline myself to not answer the
phone after certain hours.
Other than that, life is great. I like the fact
that I don't have to dress up for work (I cut my dry cleaning
bill down to almost nothing). I don't have to fight rush hour
traffic to make it to meetings.
1MoreSilverDollar: I have a home office with a separate
phone line and all the equipment I need to
run smoothly, and no kids, in fact nobody at home
but me. I also meet people in their homes,
Realtor's office, hotel lobbies, attorney's offices,
etc. I ALWAYS WANT TO MEET THE NOTE SELLER IN THEIR HOME--
it puts them at ease.
I have my fish tank and plants and an awesome desk with plenty
of room, my office is 285 square feet, not some cubicle
where you can't hear yourself think over the
others in your office. Save money on gas, lunches,
clothes etc. I also find it hard to push myself away.
I work harder at home and don't need the social BS
from an office.
chow: Rule of working out of your house:
Get up, get dressed and go to the "office" and work.
Make your 20 calls, your mailings, your 20 contacts with
note holders, etc. per day. It's just a matter of putting
one foot in front of the other, everyday.
Curmudgeon: Basically you asked two questions.
Question: How do I keep myself motivated? (Without a
supervisor/boss prodding me).
Answer: This is a commission-only profession, and
you earn what you are truly worth. If you
have been successful up to now, motivation should
not be a problem if you wish to continue eating.
There may be a short adjustment period, but hunger
should win out.
Question: How can I ease into this and make it as
smooth as possible?
Answer: Take two vodkas in the morning.
LoanCutie: Thanks to everyone for all the help
(even the vodka). To answer some of your
questions, Yes I do have a child but she will
still go to daycare; I just want to be able to
stay home if need be, just in case she's sick or
whatever. Working out of my house will just make that
all the easier.
Secondly I am still new to the biz, but I am
planting a lot of marketing seeds in a few different
areas so when it starts to blow up I want to be
in the comforts of my home office.
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