Web 2.0 & Real Estate Investing!

[Lamar]

I'm just wondering what everyones take on Web 2.0 is when it comes to Real Estate Investing. This question is geared more towards the online marketing element of Real Estate.

I'm putting together a Newsletter and I wanted to discuss Web 2.0 and Real Estate Investing, however, I just wanted to get the opinion of some fellow Real Estate Investors who are active in Today's Market.

Please vote and then leave a comment on why you voted the way you did. As I'm sure other's will be curious about your insight...

[jgjh151]

What exactly is Web 2.0 when it comes to real estate investing?

This topic is all over the web and its kind of vague like when talking to an SEO company about what they actually do.

[b18bgone]

Generating leads from the internet/website is just one part of marketing/lead generation for any business let alone REI.  We have found that our internet leads tend to be properties that
people want to sell for ~80 - 90%arv, we get our 30 - 75%arv deals from other forms of marketing.

Web 2.0 is just one part of the puzzle

[jgjh151]

What part is web 2.0?   Just curious...

[jackson64]

What exactly is Web 2.0 when it comes to real estate investing?

This topic is all over the web and its kind of vague like when talking to an SEO company about what they actually do.

I'm glad this was said, as I think it will really justify my point.  I think Web 2.0 could have a very significant impact on real estate investing if Web 2.0 developer(s) implement their sites properly. 

[Lamar]

Here is a very basic  video explaination of Web 2.0 

It doesn't touch on the Real Estate aspect, but I'm sure you can think of creative ways to market your self as an investor, or market your properties, or network with others.

Web 2.0 isn't really new, but it's just being hyped up that way. And the reason is because it's growing and soon it will probably be a household name... maybe :-)

 You may already be using some aspects of Web 2.0 and not even realize it yet.... I'm willing to bet that if you use the internet, then you probably are. lol

This isn't something to be intimidated by. Again, the point is just to leverage technology and the internet as much as possible to help in not only real estate, but any business.

Here is that video. Again this isn't real estate specific, but if you consider yourself an Entrepreneur then you'll likely get the picture.    http://www.youtube.com/watch?v=6gmP4nk0EOE Watch the whole video because it becomes more clear towards the end...

I'm just trying to get an idea of what you guys think... It's part of my "study".

[j1dias]

Lamar - interesting video. However it doesn't really describer Web 2.0 (at least not for me). I googled the term and found this definition in Wikipedia:

Web 2.0 is a term describing the trend in the use of World Wide Web technology and web design that aims to enhance creativity, information sharing, and, most notably, collaboration among users. These concepts have led to the development and evolution of web-based communities and hosted services, such as social-networking sites, wikis, blogs, and folksonomies.

So it seems that web 2.0 is anything that allow us to interact with others in the web. This forum would be an example of web 2.0???

Have a nice Sunday!

[stripey]

"Web 2.0" is a marketing term that just describes the generation of websites that were designed with asychronous data transfers OR with social networking/community-contribution themes.. 

The first (async data xfers) just means you can interact with the website without having to reload the entire page. For example, dragging a google map around.

The social networking/community-contribution themes are things like wikipedia, youtube, craigslist, facebook, myspace, linkedin, etc.

It's been my professional experience that the only people that actually use the term "Web 2.0" have absolutely no idea what it means. They just know its the newest buzzword. The term is so vague that you could make a convincing argument either for or against this website being "Web 2.0"

You might want to open the scope of your article to consider how the internet as a whole will change REI.

Either that or narrow it down to a specific KIND of website, such as free classifieds pages (craigslist, backpage), research sites like county auditor pages, online "discount brokers" like redfin, web-based tools for prop management like handling maintenance requests, tenant applications, marketing... or social networking websites like facebook, myspace, and linkedin..

If your audience will be someone clueless from a technical standpoint, then you can use the Web 2.0 phrase and possibly dazzle them, but if its going to be the general public, where you might have technically savvy people reading, I'd avoid the phrase myself.

Hope that helps.
(disclaimer: I'm a software engineer)

[jgjh151]

"...aims to enhance creativity, information sharing, and, most notably, collaboration among users..."

Sounds kind of like the original internet ideas

I do a lot of design, not so much programming.  To me, web 2.0 is a new design style with more horizontal display of info and the length of a page isn't so much an issue any more.  It seems to also use lots of big fonts and shiny gradients.  I like it.

[Mikita16]

Web 2.0 can be used in any venue/platform.  You can setup profile sites on such Web 2.0 sites such as MySpace, Facebook, Digg, Twitter, etc.  How effective they are depends on your marketing strategies. 

The simplest definition of Web 2.0 is those sites that allow the publisher to interact with its users in a two-way communication.  What makes it so powerful is the fact that users can provide instantaneous feedback and develop relationships with everyone in the community.

I do, however, believe that Web 2.0 is better suited for those looking to invest in online real estate.  I've done both and investing in websites and then "flipping" them is probably the most lucrative thing you can do to make money online - legally. 

Hope this helps.

[fadi]

it is a great way to network with investors, realtors, and such. It could also be used as a source of leads if you blog on housing problem for example and eventually you get your blog infront of people in your area, but I would not depend on it as a main source or expect results.

I am starting a blog for networking purposes but not to generate leads, at least not seller leads.

[wallacehobbs]

OK, this may get a little long but here is my insight on it!
 
Web 2.0 is currently used in a lot of Social Networking Sites.

Web 3.0 is already being talked about in "Certain Circles"

The best way to understand it with out being technical (because I am a layman
when it comes to the webmaster stuff) is to see it all
as part of a tool box.   Lets say you have a regular flat head screwdriver and
that is = to WEB 2.0.

Then you upgrade it to a battery powered screw driver which then may
be consider to be = to the New Up comming 3.0

The point is that they are all just Tools in your box that can be used
to work on or build many things.  The tool is not as important as is how
you use it.

Specific examples:

I am an investor of a social networking site that is set up on Web 2.0 that has
nothing to do with Real Estate at all.  Just my profile on this mentions it.  The site is www.Ojeez.Com but it
never really  caught on Like My Space, or Facebook did
since it was geared to Network marketing.  Now the team is working on using the
technology for "White Label" or "Private social company networks"

(Hint the next BIG thing to hit the web world over the next few years)

OK, then you have the new kids in the game like the ever pleasant techie guy
Joshua Reed Dorkin of www.BiggerPockets.com it has some promise, but Josha has
the tendancy to act like a real jerk sometimes.  Hope he outgrows that.


At least Tim Randle and Hal  (Both Great Guys) on www.ReiClub.com will give you a very nice and attractive FREE T-Shirt if you write and post your honest to God success story on the site.

 Success Story Example (sorry its over 3 years old)

http://www.reiclub.com/success-stories.php?id=40

The only fly in the pie is some of the Moderators are a bit harsh, and you all know who I am talking about.

There about 10 large Real Estate Forums out there each with their own niche.  The one that is the largest in the world  CRE is a maketing monster. 

www.ReiClub.com   I think is still the second largest and seems to offer the most hard
core info.  Who knows maybe at some point Tim Randle will go to Web 2.0 but "If it ain't broke don't fix it)

I even started my own private Forum driven Forum  (no ads - no profit - just networking at this point but it is already attracting a LOT of attention juding by my inbox and answer machine)

So lets Recap:

- Web 2.0 is a great marketing TOOL if used correctly

- www.ReiClub.com is a good solid Real Estate Investing Site, take a close look
at the product Catlog they offer if you never had it will blow you away with all they offer a new
or seasoned investor   http://www.reiclub.com/real-estate-products.php

- Joshua Reed Dorkin new venture BiggerPockets.com - Jury is still out ?

Hope this helps explain a little more about Web 2.0

Now stop reading this and go out and submit at least 3 offers today! Then make sure to write
about your success here on www.ReiClub.com

[wallacehobbs]

 

[boblaw]

In my opinion the Web 2.0 spin on real estate is all about distribution.   

Distribution: Never before has an investor, FSBO, or Realtor had the ability to reach the number of folks with minimal effort.  In the past, an investor who was buying or selling had to rely on the local paper(s).  Your hope was that the right buyer (or seller) happened across your ad that week.  It wasn't cheap to put out there and certainly wasn't cheap to keep it out there.  With the distribution available due to XML and other technologies, it is easier than ever to reach a massive audience.  You aren't just posting an ad/listing to a single site that might never be found.  You can post to a single site that will distribute your listing to many.

Measurement and tracking: In the past, when it was all about the local paper(s), you would have some sense of what drove a person to your door.  With the web, and all of the tools available, the level of precision is high.  Within a couple of weeks (sometimes days) you have a feel of whether something is working.  If you use the tools properly, you can spend with the top tier PPC sites (Google, Yahoo, and -maybe- MSN) and track effectively. 

Free Tools: Did I mention that the distribution and tracking can be done for little or no money?  With the high level of competition, there are plenty of Web 2.0 companies who will provide services for free knowing that the ad space, or membership benefit, will pay off in the long/short run. 

Hope this gives a little insight into how some of us view things.  Good luck with your newsletter.

Bob L.

I'm just wondering what everyones take on Web 2.0 is when it comes to Real Estate Investing. This question is geared more towards the online marketing element of Real Estate.

I'm putting together a Newsletter and I wanted to discuss Web 2.0 and Real Estate Investing, however, I just wanted to get the opinion of some fellow Real Estate Investors who are active in Today's Market.

Please vote and then leave a comment on why you voted the way you did. As I'm sure other's will be curious about your insight...

[Lamar]

Thank You Everyone for your input whether for Web 2.0 or not.

I honestly think it's an awesome opportunity to be able to Network and take your business far!

My brief Web 2.0 study is now complete. If you want to check it out go to
to my blogspot, listed in my signature below.

I've also included a special Web 2.0 interview call with Social Media Marketing Expert Alisha Wright that I attended last night. It was amazing. Don't worry nothing was sold on the call, it was just PURE CONTENT!

Let me know what you guys think. Again, this study is just a brief overview. I reccommend you get started ASAP! Heck, it's mostly Free anyway!

-Lamar