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Updated over 6 years ago on . Most recent reply

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Austin Works
  • Investor
  • West Monroe, LA
70
Votes |
196
Posts

Actionable Marketing Plan?

Austin Works
  • Investor
  • West Monroe, LA
Posted

I've searched through the blogs and forums, but I'm not finding what I'm looking for. To this point, I've only found deals through wholesalers and bank owned properties listed on the MLS. Since both of these methods have slowed down a good bit for me, I am looking to begin my own marketing campaign. I know direct mail is a great option for finding motivated sellers, but that's about all I know. Can anyone tell me exactly what criteria your building your mailing list on? I live in a low income city, so anyone finding success in a similar place would be extra helpful. Also, anyone finding any motivated sellers through social media?

Most Popular Reply

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957
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740
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Braden Smith
  • Investor
  • New Orleans, LA
740
Votes |
957
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Braden Smith
  • Investor
  • New Orleans, LA
Replied

It really all depends on your individual situation and what kind of marketing budget you have. If you have the money to spend, things like PPC and Adwords can get some leads coming in almost instantly, but it's not cheap and it adds up quickly. SEO takes time and/or money. Other things like driving for dollars require less money, but more time. But direct mail can take time too. Stats show you'll get more responses after several mailings. Cold calling is time intensive and will be a mostly fruitless endeavor. I would say start with one thing and then build from there...

I do some driving for dollars (or pay someone to do it) and use those lists as my core lists. Then I build upon that list by layering in another list in the same area, such as a high equity list and then scrubbing it for repeats. You could also add in a preforeclosure list for the same area, again scrubbing for repeats. Any particular property that shows up on more than one list, or on multiple lists, could then be added to a "super list" and those can be cold called since they are likely to be more motivated than others. 

  • Braden Smith
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