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Updated almost 8 years ago,
How Can I Pay for Marketing Each Month With Limited Funds?
I am a new investor trying to do marketing on an EXTREMELY limited budget. I understand that marketing a necessary expense, but I'm worried that spending the money I have in my savings for a possible down payment, holding costs, etc., will be depleted spending so much on marketing. I have asked some other investors what they spend on marketing, and I've gotten quotes ranging from $1,000-$15,000 per month! As a newbie, I don't have that kind of money to spend. And I definitely don't have the money to hire out my marketing tasks to a virtual assistant. Am I correct in assuming that my focus on marketing should be bandit signs, craigslist ads, online marketing, and driving for dollars? Do any of you experienced investors remember what kind of marketing you focused on in the beginning, back when you were broke like me? Do any newbie investors have some ninja tips they are willing to share?
My goal is to purchase properties to generate passive income (either small multifamily or single family). Should I be trying to get flips to help me get more capital to reach my goals? If so, how can I do that if I'm spending the little bit of money I have on market at the price of $1,000 a month?!
Any advice or suggestions are welcome. Thanks.