Marketing Is The Key To Success

Every successful real estate investor knows that marketing is the key to success!

Yes, you have to know how to structure profitable deals, and strategies to use when you find good deals.  You need to know how to quickly sell houses to maximize your profits and you need tenacity along with gumption, persuasion skills and a generally good attitude. 

However, all of those things don't help you a bit if you don't know how to market for good leads.  You have to continually have a pipeline of quality buyer and seller leads.  Depending on the business model you're using they may have different characteristics: they may be a motivated seller, or a burned out landlord, they may be going through a divorce, or they may own their house free & clear.  Your potential buyers may be cash buyers looking for good deals or people with damaged credit who need some help with owner financing. The characteristics of WHO you market to will be determined by the business model(s) that you want to work.  But the key ingredient remains the same . . . MARKETING. 

Without marketing you have no one to talk to and without anyone to talk to, you won't get too far. 

Since my background is marketing and that is what I was doing before I started investing in real estate almost 20 years ago I know the importance of it.  I'm constantly testing new things and seeing how I can improve the performance of specific marketing pieces for my students. 

What is funny is that with all my knowledge and with all the testing, we keep coming back to this simple, cheap, black and white postcard that we send that is getting some of my students 3-4% and more response rates.  Now, if you're new to the marketing world a 1% response rate in direct mail is considered REALLY good. 

One thing that I see investors do all the time is ride the roller coaster of lead flow.  They will do some marketing, get a bunch of leads, focus all their time on working those leads until they dry up.  Then, they have no one to talk to so they go through a dry spell and send out more marketing and the ups and downs continue. 

In order to enjoy consistent income, you have to consistently market and make it a priority. Every single month.  I believe so strongly in this that I have actually hired someone in my office who's whole job it is to send postcards out for clients.  This way I know it gets done!

Create a marketing plan, then work that plan and stick to it.  No matter how busy you get and what is going on.  Make it a disciplined, consistent action to get your marketing out each and every month. 

Richard Roop is the author of Strategic Marketing Secrets, a system designed with easy, fill in the blank templates for real estate investors to attract buyers, private lenders and sellers.