Professional direction need

[Kenneth Lee]

good afternoon, I'll get right to the point. I've been looking all over the threads and wholesale forum looking for some advice on alocateing my funds on marketing.

$2000.00 Marketing budget. I know there are tons of different marketing plans, just wanted a pro's take on how i should spend the funds when it comes to marketing my wholesale services. I had to fight my wife tooth and nail for that $2k...lol

If there is a thread already with the info im looking for, I appologize in advance. If so would you please send the link.

Thank you.
Kenneth

[Ryan Webber]

Wow, with that kind of hype I have to chime in here.

Before you jump in too heavy with bandit signs, you need to research Houston's city codes and enforcement around them. Larger city's usually have well established protocol with bandit signs. If they take them down within a day or two, you might be wasting money on a bandit sign campaign. Some cities are also very strict about prosecuting people that put them up. There are even some cities that allow you to put them up if you pay a per sign fee.

As for cutting them or not, I think 12x18 is fine. I've had success with bigger and smaller signs, so I don't think its paramount. I actually don't like them too big because they end up bending in the Panhandle of Texas wind and aren't readable. You might not have that problem in Houston, though.

No matter what your budget is, I'd recommend you start driving your farm areas. Look for vacants and make phone calls and send letters to the ones with equity. Not only can you get deals this way but it will also help you learn your areas. You need to know your farm areas intimately or you will be wasting a lot of your time chasing deals that aren't deals.

As for a blog or evoice, I think both are a waste of your time right now. A vanity number has some value, but I wouldn't get hung up on it if you don't have one.

Your time and your money needs to have a laser focus. And that laser focus needs to be on finding MOTIVATED sellers and CASH buyers. Right now 80% of your focus needs to be on finding MOTIVATED sellers. 20% on finding CASH buyers. Once you find a deal, switch those.

Now as for specific marketing strategies of where to spend your money, I have to admit that I am not always as forthright on BP as I could be with this particular subject. This being a public forum and with several of my direct competition being on here (several of them I helped get started), I don't like giving up the goods on my specific marketing campaigns.

See with wholesaling, once you've established a good buyers list, the only real key to it is finding deals. The business becomes 95% finding deals. At my stage, this business is ALL about my marketing edge, so I don't really like to publicly discuss my edge. This is the first time in 4 years of being on here that I've even admitted this reservation. I normally just don't chime in when people are asking specific questions of how to spend X amount of dollars.

So point being, I still ain't giving it up. What I will tell you publicly is that there are no "golden" strategies to find deals. There are some silver strategies that will get you 3 or 4 deals a year, and there are some copper strategies that will get you 1 or 2 a year, and there are some that might get you a deal a year. The key to building a sustainable income from wholesaling is to start doing 2 or 3 strategies consistently and persistently. Then after you get those going, add 2 or 3 more, and then 2 or 3 more, and 2 or 3 more, until you have 15 or 20 different strategies that you are working consistently and persistently. Evaluate each strategy's effectiveness after doing it for at least 6 months.

Different strategies in different markets work differently at different times. You have to be open to experimenting with different strategies. Try them out for at least 6 months consistently and persistently and then evaluate their effectiveness. I have seen that some strategies will work for awhile and then fizzle out for months or even years, and some will not work for 6 months and then they will pop a deal or two. You have to be open and creative, consistent and persistent.

Also understand that many markets experience strong seasonal shifts in activity. My market dies in the winter time. Going to Vegas is a better investment of my money than spending it on marketing in the winter time. I've been told that not all markets are this way.

Kenneth, you are welcome to call me and I'll be glad to privately help you with some particular strategies for your particular market.