What if U Only Had a $100 to Spend On Marketing a Month

Question

Just hit with a lay off from company...I'm on a fixed income and trying to do real estate wholesaling. I only have a $100 I can spend per month on marketing to find wholesale deals and assign contracts to get paid. How would you spend funds until goal is achieved? Please break it down for me.

Also I have a lot of time on my hands until I am gainfully employed again. I need to use this time constructively.. Besides looking for employment - any ideas?

Thanks

Troy Gravett · Answer

Sharon, sorry to hear about your layoff. If you have a lot of time and little to no money, there are a number of things you can do but it's gonna take a lot of hard work: 1) Call all FSBO and For Rent ads on Craigslist and other free advertising websites (and newspapers). Ask them if they would be willing to sell quick for cash at a discount or if they are open to a lease option (rent to own). 2) Get a subscription to Foreclosure Radar and doorknock all the Pre-Foreclosures in your area. 3) Start building relationships with agents in the area you want to work in and see if they have any houses they can't sell, expired listings, or just old, beaten up, ugly houses that nobody wants 4) Find somebody with a lot of money and no time who is willing to fund your marketing campaign and split the deals with them. 5) Bandit sign are a cheap way to advertise your business and generate leads These are just a few ideas among many. I hope this helps!

Aaron Mazzrillo · Answer

Study to get your agent's license. It doesn't take but gas money to door knock neighborhoods looking for listings; make money from real estate without having to own it. I also agree with those above who suggested bandit signs. Whether you make them yourselfor buy them $100 a month will keep you pplenty supplied. You can get a Google voice number to put on the signs as well so you won't get any fines from code enforcement.

Troy Gravett · Answer

Sharon Jones 2) Foreclosure Radar actually has a new site called Property Radar which I really like. It's $50/mo, and it updates pretty efficiently. It might take a week or so for the detailed stuff but for the most part i've found it very useful. 3) If agents are bringing you good deals and you have cash buyers that can close, the agents get paid by the seller when you wholesale the deal just like any other transaction. You can also work out a deal with the cash buyers (if they don't have an agent) that they have to list the property with your agent who brought you the deal after they rehab it. 4) Look for cash buyers to fund your campaigns as well. Look on Craigslist, look out for other signs in your area, go down to the county recorder/tax assesor's office and pull all names/corporations that have bought 2+ houses all caah, and go to your nearest foreclosure auctions and network with some buyers there. 5) You can handwrite your signs, or if you want to look more professional you can get signs made for you for like 1 or 2 bucks a piece at supercheapsigns.com

Rob Powell · Answer

I am a wholesaler in Oklahoma City. The only thing I spend cash on per month is gas and a subscription to RealQuest $50/mo. I make my on bandit signs and I advertise online... a lot. This has been sufficient to get me 1-2 deals a month. Hope this helps. Good Luck!

Sharon Jones · Answer

Cecil Russell · Answer

I am also on a limited budget and have business cards, run ads on craigslist and Thrifty Nickel. I have 2 "clients" looking for a home. My problem is I do not fully comprehend the procedures involved-the appropriate forms to be used at what juncture in the transaction. It is the procedure that is hindering me.

Sharon Jones · Answer

Business associate today gave me these ideas to add to all the great advice when marketing on a low budget to find wholesale deals: Place we buy house sign on your car. Place business cards at gas stations, ATM machines, casinos, and inside books at bookstores. Ads in thrifty nickel. Mortgage brokers for leads. Cold calling for leads.

Account Closed · Answer

Make flyers and find places to legally post them. Talk to everyone about real estate. This is actually the best one but the hardest. It has a long lead time but the payoff is great. Since most people don't know what investors do, everyone will be only to happy refer you to their friends and neighbors with listed houses. Takes awhile to get clear about what you are doing and how you present it. Drive for dollars, sending letters to owners of vacant and abandoned properties. Call owners for whom you can find the number. Talk to the neighbors of vacant properties, letting them know you are looking for properties. More great, free practice for talking about real estate.

Carolina E. · Answer

Sharon JonesTell your family and friends you are looking for distressed homes.

Melvin Jones · Answer

Bandit signs, business cards