Marketing Strategy for a Beginner - Biggest Bang for my very few Bucks?

[Churchill]

Hi,

I'm just starting out as an Investor (wholesaling for now, as I have very little capital). I was hoping to get some good feedback on what you guys would do if you were just starting out, to get things going?

I'm looking to make a 12 month marketing plan where initially it will cost very little, then as time goes by as some deals come in, I can re-invest some more into marketing.

I guess my ultimate question would be, what do you guys feel, based on your own experiences would give me the biggest bang for my buck as a beginner. And then, what do you feel would be beneficial to plan, for say 6 months time when I have larger amounts of cash to re-invest into marketing?

Lets say, for right now Ive got $200 to start my marketing.

Thanks

[MichaelQuarles]

Good to meet you..

If only two hundred I would network market only... Gets some business cards and start handing them out...

Welcome to the Green Side..

Michael

[Aces]

yeah get yourself some business cards. Check the newspapers for FSBOs, and rentals. Build yourself a buyers list 10-15people in your area, then look for some deals your buyers want. You don't really need to be putting out money on marketing so much as you do on your phone bill! Make calls. However I would suggest getting some bandit signs and putting them up in popular area's during the weekend (so code enforcement doesnt come take them all down) and you can pick them back up sunday evening. Use word of mouth to market, it doesnt cost you any money and it works the best

[Churchill]

Hey Guys,

Thanks for your feedback.

I guess maybe I should have said in my initial thread, I have already got myself some business cards (and have been handing them out to anyone who will listen to me lol)

Currently I am doing exactly as you say. Using the FSBO's to find any buyers or sellers. Thanks

What kind of money do you feel I would need to do some true marketing and what do you feel this should be?

[MichaelQuarles]

Hello

Network marketing is true marketing... People have become very wealthy using this means... Only draw back is that it requires you and a pure marketing plan doesnt except for writing the check payment to the vender..

Letters run .50 to 75cents each and if you expect a 1/2 to 1 percent return and have to have 1:100 calls, as a new investor, to buy a house that will net you 20k then you're going to need a 1000.00 to 1500.00 of consistent marketing.  Remember that your advertising budget should be 8-12 percent of your sales...

Good marketing

Michael

[shortsalewiz]

Realistically, if you're wholesaling, you need to do some direct marketing. I can show you how to send about 1000 post cards to absentee home owners if you would like. this would cost about $500.

[khelzy09]

Give your business card to everyone Don't ever be shy about giving your card to anyone. Even if you're not in a professional setting, you never know when a social contact can quickly become a business contact.
Establish yourself as an expert People will be more likely to do business with you if they see you as an expert in your field.

[MichaelQuarles]

khelzy09

 

[Danny(TX)]

I completely agree with Michael and the above ideas for networking. 

Another idea along the lines of checking the paper is to keep an eye on craigslist for sale listings.  Motivated sellers do appear there.  You can also place house buying ads there.

The best bang for your buck has to be bandit signs.  Check your local code enforcement rules as mentioned in a post above.  If possible, put them up high with latter and only in high traffic intersections. 

[Churchill]

Thanks for all the feed back guys! Ive not been on in a while, ive been busy trying to get my investing under way.

khelzy09 I would definitely be down for you showing me the absentee technique. Im open to anything to help me succeed and open to listening.

Shoot me a pm bro, thanks

[BillHernandez]

Starting small is never a bad thing.  As your business grows so will your marketing and your client base.  Some of the best initial marketing I ever received was peer reviews or referrals.  I would also recommend making yourself a Website or blog that as an area for your clients to get a hold of you via the internet.  There are so many ways to market oneself through the internet for free now it is a great choice.

[RolynRealEstate]

Great posts so far.  I would like to add my little bit if I may.

200 bucks is plenty to get started but with all marketing it has to be consistent so make sure you keep it up.

#1.  Buy a sunday paper and check the Obituaries.  Before you call me a "Vulture" hear me out.  check the names through a look up service like anywho.com, 411.com.  It will tell you the address of the person who passed on.  Send them a letter explaining the services you provide and whomever is still in the household will pick up the letter and might be interested in selling.  In my experiences the percentages go way up instead of just sending out letters blind.

#2.  Drive around, (I believe this was mentioned already)  Look for properties that need work and send them letters explaining your services and how you can help them.

#3.  Dedicate a week, bring a pre foreclosure list and go door knocking.  This is REALLY a comfort zone breaker.  Most investors don't go door knocking because it goes beyond their comfort zone.  I did it and believe me I got rejected...a lot.  On the other hand though I got 3 deals a week knocking on 25 houses a day working 6 days straight.  Expect to get rejected a lot, some doors slammed in your face and maybe a dog or two.  Hey if it was easy everybody would be doing it right? And it costs next to nothing for marketing, except for the actual list and some gas.                               

[RolynRealEstate]

(Cont) 

#4 Bandit signs, yep they work and you can get them really cheap these days here is a site I use and NO I don't get paid for posting this.  The bandit signs are free but you have to pay for shipping and handling which is about 18 bucks for 25 signs.  If I were you I would get at least 50 (25x2) to get started.  Here is the site:  http://shop.banditsigns.com/custom-p-836.html
Once you get the Bandit signs don't use those crap stakes that they give you.  Use cap nails to hang them up high here is a you tube video on how:  http://www.youtube.com/watch?v=YaAkNLZNiKY before you do though check your citys code enforcement first so you know the rules.  We don't want you to get fined or arrested for posting signs.  Look around your city and check if there are exsisting bandit signs and that also might give you an indication on how strict your laws in your city are.

#5  A website, Websites are SOOOOO cheap these days you can get e-mail and your domain cheaper than 20 bucks.  How do most customers know you are serious? if you don't have yahoo, gmail...etc as your e-mail on your business cards! create your company and be proud of it no matter how small it is.  Your enthusiasm will show in your business.  I hope this helps! Let us know how things turn out.  Thanks!

[MichaelQuarles]

Rolynrealestate

Please.... It is this kind of reply that make real estate boards credibility deteriorate... 200 Bucks is not plenty to do anything you just mentioned.. And even if someone had the budget they should do none of the things you mention as their primary means... You say to drive around and look for houses... my goodness...

It is obvious that you read this crud somewhere and rewrote it cus if you actually did it you wouldn't write about doing it...


Michael...

[RolynRealEstate]

Excuse me Michael?

I remember....Quaries right?  The person that likes to debate.  Well, let me let you in on a little secret.  What do I have to gain by telling people how I did things?  Do I provide a mentoring service? NO!! am I trying to sell something? NO!!  These are things that I have done that works.  When I first started out I did read this information, applied it and it worked so I'm passing it on.

I'm not going to waste my time answering to why you think "I look stupid" because I'm an adult.  So when you are pass name calling I can answer your questions and we can talk like adults not high school kids.

You CAN get started with less than 200 dollars but it requires work the website that I gave the bandit signs are free but you have to pay shipping which is 18 dollars.  I have used it myself and it works. You can generate buyers AND sellers from bandit signs.

If you want to create a website they are FREE from microsoft office live but you have to pay for a domain which  I got mine from Godaddy less than 15 dollars.

These are things that I have done myself and it works! it is a low cost way to get started!