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Updated almost 4 years ago, 02/06/2021
Marketing: Cast a Wide Shallow Net or Narrow Deep Net???
Good Morning BP.
So currently we are predominantly virtually wholesaling (few fix and flips but mainly wholesaling) in five Texas Cities. Our marketing methods include direct mail and we are just starting to deploy cold texting. THe lists we go after are Absentee Owners, Inherited Properties, and Tax Delinquent Properties.
I'm trying to determine if I should continue this wide but shallow strategy or maybe cut back on a few of the cities and dive deeper in the remaining cities. By dive deeper I mean go after other types of distressed sellers ( Code Violations, Divorces, Probate, etc.) and also spend more effort in building relationships with referral sources (Insurance companies, realtors, family lawyers (divorce, probate, etc.), property managers (tired landlords clients).
I'm pretty much a one man operation at this point in time (use a VA for some project work from time to time, have a call center answer the initial call and email basic details, etc.) plus have a W2 job and family.
What I've been doing so far has worked, but I really want to maximixe effort and profit this year as my ultimate goal is to grow this into being able to quit the W2 life (need to net about $200k per year to do that).
Interested to hear others thoughts.