Ideas on Gettting More Money for Marketing

[Kay H.]

Ok. so I did my first deal 1 month ago from calling FSBO ads. but now it seems FSBOS are just not that motivated. I've gone and made appointments, given offers, just to get turned down. One lady is not even returning my calls.

I figure I need to amp up my marketing. I bought 200 yellow letters from a yellow letter company. I intend to buy 200 more with my next check. however, part of me feels I shouldnt even be doing this since 400 letters a month probably wont get me a deal. I need a way to generate more volume.

I got my income tax check...but I want to save that money for a down payment on a rental...I think that's wise.

Any advise??

[Dev Horn]

Yellow letters generate calls, but they are often from UNMOTIVATED sellers. Exactly what you're experiencing, right? So change your marketing strategy rather than throwing MORE $ at the one that is NOT working (you just told us that!).

Look at some of the new postcards offered by a turnkey provider like yellowletters.com. But whether you use letters or PCs, you need to convey the right message to get the right people to call you. It's not "I LOVE your house and want to $BUY$ it!" (which screams "I will pay full retail price!"). The MOTIVATED SELLER message is:

1) Get CASH
2) FAST
3) Without making any REPAIRS
4) + no need to pay off liens, closing costs, etc.

And only go after people with 40% or more equity with that MOTIVATED SELLER message.

And to your original question, we see that people that don't have a marketing budget of at LEAST $500 per month are going to STRUGGLE in this business and likely fail. It is a MARKETING CHALLENGE to find these deals we're all looking for. Set aside a portion of your tax return to invest in your BUSINESS, in your MARKETING, and you should do well IF you stick to a SOLID STRATEGY for at LEAST 6 months.

“The greater the effort, the greater the glory.” ~ Pierre Corneille