Marketing Tips
I am new to real estate investing. I will be closing my 1st two deals in the next 2 weeks. I have compiled a nice buyers list. My problem is finding more deals. I am currently running ad's in 5 different weekly's, have posted signs, and have delivered circulars. I also had 5000 circulars inserted in one of the weekly papers. I drive neighborhoods looking for vacant or distressed houses. I was wondering if anyone had any other marketing Ideas. I am working this business full time and I need my phone ringing more. By the way, I also have signs on my car and a large sign in my yard. I also have tee shirts with my Phone #. I also do letter campaigns. Any ideas from some of you more seasoned investors would be great.
Thank you.
Bryan B
Maybe you need to narrow your target market and pursue a more focused strategy. Direct mail from farm lists, leads from mortgage brokers and bankruptcy attorneys might be possible. Additionally, frequency is necessary in all marketing efforts.
I did narrow my market, as this is being done in one area of my city. Thanks for your input.
i'm out of breath reading it. rome wasn't built in a week. since your doing this full time...it's not like a job. your not going to be on the phone 8 hours a day, constucting deals all day, looking at houses all day. that's why people do this, for the freedom. It will come and your efforts will pay off. just be patient.
Yeah I guess it does take your breath away. I am doing this for the freedom, but I do have bills to pay. I have 2 deals closing in the next 2 weeks and will gross about 14k. I am just looking for different ways to market. I believe that marketing is the most important thing in this business(besides education).
Take a second look at your Marketing, Is it focusing on the customers you want.
Next is it grabbing a customers attention, check online there are many sources that offer marketing tips.
Finally, compare the area you've targeted to other areas, then compare this year to last year, etc. you might be in an area that has less activity currently.
BryanB,
Your "buyers" list, is it people looking for lease/options? Do they have a good chunk of money for the option fee? If so P.M. me and I'll share a little secret with you.
Hi Mr boyd444,
May I know that secret too if you dont mind...I would like to know..
Thanks.
Not sure it would work in Cali. Check your messages.
Don't forget the classifieds in the paper. I check the paper EVERY day to try and find more properties.
[addsig]
Hey boyd
why don't you share in the forum, I would like to know your secret.
It's not a "secret." Just something that wouldn't apply to areas of high property values. The wholething is too lengthy to go into all details, but if he's got l/o buyers ready to go with a sizable down payment go to the MLS and start making l/o offers on houses that have been listed for long periods of time. Use the option fee to pay the listing agent's commission upfront to get them to push the deal. Uh oh, secrets out! Just hope no one from Michigan is reading this!
It's a little more complex, but you get the idea.
I bought the CS course. It opened my eyes to community organizations that will help you with down payment funds. I researched out & found one for my community. Qualified & bought my first property with only $500 total out of pocket cost.
Read the classifieds of people looking to rent out houses. Look particularly for rentals where it says "recently remodeled". Then cold call those owners to see if they are currently looking for more property. we have added several buyers to our data base that way.
Matt
jk86,
How did you go about researching for such organizations?
jk86
did you buy the home for yourself or did you buy as investment??
amynewbie
I am flipping both to other investors. I am just starting out and need to generate cash. I will gross about 14k for around 10hrs work.
Quote:
On 2003-11-06 11:16, kmaples wrote:
jk86,
How did you go about researching for such organizations?
hi kmaples,
I was using CS course that suggested that you look for the organizations. So I spoke realtors that I knew in the area & they told me about the different community organization that provide dwn payment assistance. I looked into it then I had to attend a 2day class to qualify. It was on a Saturday. Once completed they give you a certificate. Little did I know that when I went to closing the only out of pocket cost was the $500 dwn that I put on the contract so naturally I was estatic. that's pretty much it. thanks.
Jackie
hi amynewbie,
yes I bought the home for myself. just to share a little of my history. my hubsand & i owned a couple of properties. now i'm of the singles brigade & this was the first home that i purchase being a single independent, but constantly learning new things woman.
way to go jka86
congrats. let me know how everything goes for you, always interested. i first started reading cs course. didnt seem like it could be done. i guess you have to go out and make it happen.
amynewbie
Hi all,
Bryan B,
About the marketing issue; Are there allot of investors in your area fighting over deals? Either way, consider trying another area because you're marketing much more than I am and my phone rings nicely.
About the Grants. CS is talking about true first time buyer community services and the grant program that you're describing is one that we use all of the time in the loan business. They popped up a few years ago. The way it works is this:
The grant "non profit(uhuh)" company will transfer funds electronically to the title company to use for the transfer, but they get a transfer back after settlement which is usually 1% of the loan amount plus the amount that they initially transferred to you. The seller basically gave you the grant amount as a "consession". Remember, all of this happens within 1 day. Grant business is a nice one to get into.
hope this helps,
clear2close
_________________
Assistant Vice President (Senior Loan Officer) / REI Millionaire Wanna Be[ Edited by clear2close on Date 11/07/2003 ]
Did you try marketing on your car? It may not look appealing, but you will get results. Just think of all the places your car goes and stops and all the people that would be reading your ads on your car. You can buy these ads which are magnetic. It's free advertising all over your city. It's worth a try.
How about sending post cards to out of town owners, especially on those houses that look pretty decrepit? I've read that this seems to be popular, am thinking of doing it, but don't really know if it'll be effective.
Any advice on this?
Thank you all for your replies, I really appreciate it.
1) I have ad's in diiferent areas. I think it is just a dry spell.
2) I have magnets on my car.
3) I am going to do a mass mailing to out of town owners, and owners that have different tax addresses.
Mgolden62
that was a good tip..I like it...Here is one for you, In most areas you have a for sale by owner magazine that comes out once a month or so, if you look in it you will find the publisher, he has the list before anyone, if he shares it with you it makes his magazine look good, from quick sales!
I dunno im fresh out of secrets. Move to a large metropolitan area? Like NYC. Down payment is easy again guys your trying to fit a square peg in a round hole. I suggest you give up a few dollars and go to some experts and get some good courses. Those guys really know there stuff. You should be asking whos the good instructors who isnt. Its worth the money on some of the deals i consult on the guys that have spent some money on courses some as much as 18000 dollars. There is not much you can tell them. Its nice to work with that kind of investor. You spend the money you will be a expert.
MP
I'm not afraid to spend money(about 10k) to date. I'm just looking for something different that might be working for others. I live in Philadelphia, pretty big metro area.
Try sending flyers or postcards to people who are advertising their homes in the newspapers or on the interenet. Also, see if a realtor will pull expired listings (not sure if they can or not?)