Quote from @Jeremy Bourgeois:
Quote from @Kevin Scott:
I think market research isn't bad. Though personally I'd want you to get your financials dialed in if they aren't already. Get an idea of how much extra money you have available to put into the business consistently. If you don't have any that is fine, but it's good to know where you are and what you can afford. I am including figuring out your available time as well. Knowing how much time do you have available will be just as important.
Maybe you can cut a few things and create a budget for your business. Your budget or lack of budget will probably have the biggest impact on how you move forward. That is why I think you start there.
Once you have that figured you can make better decisions on your next steps.
This 100%. I would start with your market, and make sure you get your eyes on as many deals as possible, whether they are on market or not. When I started I had a lot of time and not much money so I drove for dollars and wrote letters to the owners of those properties by hand. It worked, I got a few deals that way after awhile, but there are more efficient ways to market if you have more capital to work with like PPC or hiring VAs for lead generation.
I'd still advise that if you're just getting into business, I would start slowly in terms of marketing spend. Make sure you dial in a strategy that works before you go all in on it.
Hey, I really appreciate your input on the post! It got me thinking
about different strategies for getting started. I'm curious, from your
experience, which method do you think yields the best results: cold
calls, sending out mailers, or door knocking? Each approach has its own
merits and challenges, so I'm interested in hearing your perspective on
what works best.
