Rental Property Investor · Upstate, NY · Member since 2021 · 110 posts · 66 votes
Bigger Pockets People,
I've been investing & managing in Upstate New York for over a year now, and have actually seen huge success in the functional, teambuilding, investment picking, operational stuff. But with a background as an engineering nerd, marketing (specifically cold calling) is the bane of my existence. I'm looking for some other ways that ya'all who are similar to me get around the biggest hurdle of shameless marketing phone calls? Any alternatives you've found?
Though I manage a lot of units, I've done so with only 2-3 major clients. I've found the clients that I've gotten so far entirely from personal introductions and recommendations, however I feel as though if I rely on this method it might be too slow.
Any recommendations on resources appreciated as well. I've researched it a bunch but seem to always get to "join this real estate mastermind for $5,000."
@Wesley Sherow, networking more, sending a mailer, social media marketing, cold calling, or getting a print ad (perhaps NYREJ) are all ways to try to expand your sphere of influence. You should try to learn more from your current clients about who their competition is, and target them.
Scott, I just got started with marketing on Social Media. Will be seeing the effectiveness. As for mailers I haven't really done so before. Cold calling I've done and boy is it hit or miss (mostly miss, i think i just come off too strongly as selling a product).
As a former cold caller, the riches are in the follow-up. When calling, bringing market data they may not know, or opportunities may peak interest.
Lender · Boca Raton, FL · Member since 2014 · 1k+ posts · 958 votes
5y
@Wesley Sherow, networking more, sending a mailer, social media marketing, cold calling, or getting a print ad (perhaps NYREJ) are all ways to try to expand your sphere of influence. You should try to learn more from your current clients about who their competition is, and target them.
@Wesley Sherow hey Wesley, sounds like you’ve built a great business. Are you looking to market for deals or management clients or both?
Matt, Both actually. My current clients are looking to purchase more real estate, and they find value if I bring them interesting deals. Similarly, of course the bread and butter is finding new management clients and prospects. Both I find are most accessible through cold calling.
@Wesley Sherow, networking more, sending a mailer, social media marketing, cold calling, or getting a print ad (perhaps NYREJ) are all ways to try to expand your sphere of influence. You should try to learn more from your current clients about who their competition is, and target them.
Scott, I just got started with marketing on Social Media. Will be seeing the effectiveness. As for mailers I haven't really done so before. Cold calling I've done and boy is it hit or miss (mostly miss, i think i just come off too strongly as selling a product).
@Wesley Sherow, networking more, sending a mailer, social media marketing, cold calling, or getting a print ad (perhaps NYREJ) are all ways to try to expand your sphere of influence. You should try to learn more from your current clients about who their competition is, and target them.
Scott, I just got started with marketing on Social Media. Will be seeing the effectiveness. As for mailers I haven't really done so before. Cold calling I've done and boy is it hit or miss (mostly miss, i think i just come off too strongly as selling a product).
As a former cold caller, the riches are in the follow-up. When calling, bringing market data they may not know, or opportunities may peak interest.
Rental Property Investor · Ithaca, NY · Member since 2015 · 1k+ posts · 1k+ votes
5y
@Wesley Sherow
Alright, worth a try at least. You could drive around and grab addresses? Send them a letter or find their phone number. I did that a few times to get commercial listings when I was an agent.
Personally I’d go to a meet up but we all know how those are working out.
How did you become a property manager in only 1 year? Don't you need to be a broker to be a PM?
Dan, interestingly enough I'm a tech guy - so clearly it would seem I don't have the background for it - however I have related experience (and a lot of it) doing AirBnBs and short term rentals, which is both a grey area in PM licensing requirements, and considered for past experience in applying to skip realtor licensing and go direct to PM licensing.