Homemade Investors
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| Fax Machine – A fax machine is essential if you plan on sending signed documents. As a real estate investor, you will be seriously inconvenienced if you do not have one. You do not need a separate phone line for this. Just plug your fax machine into your phone jack when you need it, and unplug it when you’re done. What about receiving faxes, you ask? It’s easy enough to get a virtual fax number. You can get a free (although limited) fax number at https://www.efax.com/en/efax/twa/signupFree. When someone sends you a fax, it is automatically sent to your email box. You can then print the fax at your convenience. All-in-One Devices – This one isn’t necessary, but it’s worth mentioning. My machine of choice is an all-in-one Fax/Copier/Printer/Scanner. There are several kinds on the market. My personal favorite is the HP version. I’ve had mine for years and I’ve never had problems with it, although I wish the ink was a bit cheaper. Setting Up a Virtual Office You don’t need to have a real office in order to be in business. In fact, sometimes it’s sufficient to look like you have an office. A virtual office can be ideal for four reasons: Professionalism - People think you have a professional office, although you may not. It’s a quick and easy way to start your business. Privacy – Virtual offices make it easy for clients and customers to reach you, while making it difficult for people who have a grudge against you to find you. Ok, so I've probably overdone the introduction. Now that you know some of the benefits, here are some specifics. (1) Mailing Address – If you feel uncomfortable listing your home address on hundreds of contracts and communications, consider getting a postal box at your local UPS Store (www.UPSStore.com). These work just like a P.O. Box, although they’re located at your UPS Store instead. Smaller boxes range from about $15 to $25 a month. UPS Store can accept large parcels and sign for courier deliveries. Your mailing address will be the address of the UPS Store, along with the number of your box. Most people will think that this is your office address (unless they show up, that is). Your address might look something like this: Big Business, LLC 123 Main Street #423 Austin, TX 78716 (2) Virtual Phone Number – If you don’t want to establish an additional phone line, consider ordering a virtual phone number. A virtual number is not assigned to a specific phone but you can direct it (at will) to ring any phone of your choosing, such as your cell phone if you’re out or your home phone if you’re at home. Or, you can automatically direct calls to your virtual answering machine when you don’t want to take calls. Virtual numbers are managed online or over the phone. To see what services are available, run an Internet search for “virtual phone numbers” and see what you get. They vary greatly in price and features. Two companies that appear to have relatively low prices are www.RingCentral.com and www.TollFreeForwarding.com. As always, do your own research. (3) Email Address – This is cheap and easy, but sill worth mentioning. I’d recommend setting up a separate email for your business. This will prevent your personal box from getting filled with additional spam. Plus, it will allow you to sort through business email at the time of your choosing rather than every time you log into your personal email. Your email can describe your business, such as BigBusinessLLC38@yahoo.com. Gmail.com and Yahoo.com both offer free email addresses. (4) Virtual Fax Number – As I mentioned previously, you can get a free (but limited) fax number here: https://www.efax.com/en/efax/twa/signupFree. However, these numbers will not be local. If you’d like a local or toll-free fax number, many virtual phone numbers double as virtual fax numbers, meaning you can receive both regular calls and faxes. You can also order a separate virtual fax number for a monthly fee. ****************************************** To sign up for our FREE EMAIL NEWSLETTER, visit our main page at http://www.HomemadeInvestors.com. Disclaimer: Homemade Investors is published by Homemade Investors LLC. The information contained in this article does not constitute personal investment advice and is not designed to meet the personal financial needs of any individual. Investors should seek advice from a qualified investment advisor before entering into any transaction. The information contained in this article is deemed reliable but is not guaranteed. The information and opinions contained in this article are subject to change without notice, and there is no obligation to update such. To republish this article, visit http://www.HomemadeInvestors.com/reprint for guidelines. © 2008 Homemade Investors LLC. All rights reserved. |
Setting Up Your Home Office
| by Daniel R., Homemade Investors Saturday, May 11th, 2008 Essential Hardware Computer – Don’t spend too much on this. You just need a computer that works, with basic software on it. If you’re reading this, you probably sufficiently equipped. Printer – You’ll need a printer for many reasons, including printing things like forms, offer contracts, or addenda. |
| Setting up an office to do business may sound like a complicated and expensive endeavor, but it doesn't have to be. Let me give you some tips on a less expensive way to set up an office if you're on a limited budget or if you’d like to take your business for a test run before committing the big bucks. These tips won’t apply to everyone, but hopefully something here will be useful to you. |
| Price – Having a virtual office is easily 10- 20x cheaper than owning or leasing brick and mortar office space. You may need a dedicated office eventually, but it might make more sense to limit your initial expenses while test-driving your business. Peace and Quiet! – You can “turn off” your business whenever you want. There will be no business emails in your personal account, no business mail in your mailbox, and no business calls on your personal phone. In short, you can enter that world whenever you like, and leave it behind in evenings, on weekends, and on days off. |
| An office in 1903. How things have changed since then! |