How do I start Marketing??

Question

Good evening, I'm new to real estate investing, but not the business of real estate itself.  I worked as a sales agent for about 8 years in the Hampton Roads area of Virginia.  I'm getting back into the business, but this time as a investor.  I understand the importance of being able to effectivvly market.  My question is how/where should I start marketing to attract wholesale deals?

Mike Hicks · Answer

be careful with bandit signs, in some areas not only does the county take them down but they also fine you for them.

Eric Tillmon · Answer

Thanks @Jared Struber , at this point I will try a number of things to see what works.

Thanks Again

Brian Baker · Answer

I've been investing for a few years now, Eric, and I've implemented all of the following advertising methods, (I've also hired people to do many of these for me):  direct mail, bandit signs, car magnets, posters, flyers, card drops, t-shirts, door knocking, cold calling, cinema ads, craigslist posts, email alerts, and online ads.  Of all of those, online ads have returned the fastest and highest quality results.  I now only run Google ads and my partner runs Facebook ads, and we help others run them as well (see 10BillionLeads.com for more details).

What we've found is that, just like you and I, the first place everyone goes when their motivated to find solutions & answers is online, even when they about to lose the house and have direct mail laying on the dinner table.

Online ads are ideal in many ways because you can target the exact type of client you want, in the exact area you want, when they are motivated, and usually for cheaper than other advertising forms versus time and return.  Plus, the clients come straight to you wanting to do business, and with technology today, you can respond to them with offers in minutes!  That's what we do, and we've become experts at it.

And yet, regardless of which advertising method you go with, always remember that successful marketing always comes down to three main things:

1) knowing what you want,

2) having a great reason for wanting it,

3) and then letting everyone know both of those!

You can't market efficiently unless you know what you want. You won't take the effective actions necessary unless you know why you want it. And, unless you advertise and tell everyone what you're looking for, you may never find it!

Good luck, Eric, and happy investing!

Melissa Gittens · Answer

@Eric Tillmon Postcards , or even yellow letters seem to work well for the wholesalers in my area. People need to know what you do in your area. So Word of mouth marketing may work well too. I would also suggest finding out if your town will allow you to post bandit signs I know in certain towns in Connecticut you will receive a citation if you attempt to do it.

Eric Tillmon · Answer

@Debra Worrell

Debra,

Your post makes perfect sense, especially starting new with a limited budget.  I had not even thought of FB and Craigslist.  I will be setting up both this weekend.  Thanks for the great insight, I'm extremely "fired up" now.

Also, I see you are in Chesapeake.  I was a real estate agent in Chesapeake for about 8 years.  I started with Prudential Decker on Greenbier Parkway and also worked for Long and Foster in Chesapeake.

Thanks for your help.

Debra Worrell · Answer

If your looking to pick up whole sale properties there are a few very effective and inexpensive ways to do that. The two that I have found most effective is FB and Craigslist. Start a business page on FB for free. Offer a finders fee of between $300-500 (AT CLOSING) to anyone who brings you a home that is not on the MLS (abandon, run down homes that can easily make a profit). Also, you can advertise a similar add on Craigslist as the "We buy ugly houses" people. Just don't call it that, I don't want you to end up in court. LOL Finally let your friends and family know that you are offering this "finders fee", that way they can be on the look out for  something while they are riding around to and from work, the grocery store, church, etc. This cuts the cost of having to send out scouts. They bring you an address, you look up the owners through city tax records, and call them to see if they are interested in making a deal. Cheap, effective, and you don't have to shell out any cash until you make some money at closing. Hope this helps!

Eric Tillmon · Answer

@Edgar U.  I did a lot of marketing to absentee owners during my real estate sales days and it was a very good source of business.  I think this may be the way to go.  Thanks for your help.

Edgar U. · Answer

@Eric Tillmon welcome to BP! For wholesaling deals we normally do Absentee Owners, and I will repeat and say it again. If you have the budget use Zbuyer, but keep in mind that you need to bring your "A" game with your phone skillz (yeah I went ghetto).

Other than that, we are implementing Google Adwords, but it's taking a time to build anything thus far. Will post results if they amount to anything soon. I think SEO is slowly dying, especially with mobile search results. Everytime I put on Google "We Buy Houses [insert city], by the time I get to the actual non-paid SEO friendly site, I've already looked at 3-4 ads, google+ sites, Facebook, etc. Everything is testing, so if it works why brake it?

Eric Tillmon · Answer

Point well taken, I do know they are taken down after so long, I'll have to check into the fines.

thanks

How do I start Marketing??

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