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Posts Tagged ‘Real Estate Investors’

Real Estate Marketing

Wednesday, January 16th, 2008

When most investors talk about real estate marketing their main objective is to generate more sellers calling them or as a method to find more buyers for a property they are selling. Since most investors struggle in finding properties to buy wholesale we’ll focus on real estate marketing to find motivated sellers.

The biggest mistake real estate investors make is becoming one dimensional in their lead generation. And “one” is the loneliest number especially in real estate marketing because if something goes wrong and what you’re doing stops working you are screwed.

Another to phrase it “Would you rather have one way to find motivated sellers or ten ways to find motivated sellers?” The goal with your real estate marketing is to have multiple ways to generate leads so there is always a surplus of potential deals and sellers.

An important part of successful marketing is standing out and being remembered. Have you ever noticed the wild headlines in the National Enquirer? It is no accident that this is the number one selling periodical in print. Do you know who Howard Stern and Rush Limbaugh are? Howard and Rush understand marketing and this is why they make the big bigs.

In your real estate marketing I want you to remember the following:

“Love me, hate me, but never tolerate me!”

If your real estate marketing is so bland and boring that you are tolerated don’t waste your time or money. You want to be be loved AND hated because that is what great real estate marketing does. Ok, let’s go over several real estate marketing methods that you should be using.

* Real Estate Marketing Method #1

Business Cards. You’ve got to let people know what you do and when you are networking it is natural to exchange cards. Use both sides and make sure you’re card stands out and will be remembered.

* Real Estate Marketing Method #2

Car Signage. I’ve had magnets and my entire car done up with vinyl lettering. As much as I’d like to tell you that it was great real estate marketing and generated a plethora of deals I simply can’t. But what it did do for me was increase my credibility and nobody wonders if you have the money when your car is plastered with “I Buy Houses. CA$H!”

* Real Estate Marketing Method #3

Yellow Pages. There was a time when the yellow pages were a consistent and steady source of my lead generation. But with the arrival of the internet a phone book is almost obsolete. Still, in some rural areas it may be worthwhile bit in most metro’s I would be cautious about committing to many dollars to this form of marketing.

* Real Estate Marketing Method #4

Letters & Postcards. One of my favorite forms of real estate marketing. Even with rising postage and terrible delivery from the post office a well written letter or post card can be a very lucrative form of marketing. In fact a well written mailing piece is something you can literally live on for years.

* Real Estate Marketing Method #5

Yard signs. These days everybody has seen the “I Buy Houses” yard signs and they are a great tool to use because they work. Be aware that they are not cheap, have a short lifespan, and can be illegal to place in many areas. Because they are effective many real estate investors have signs placed out on Friday and collected early Monday morning to avoid the city sign Nazi’s. Another effective way to use yard signs is to place them on properties you own, are buying, or vacant houses you want to buy. Some people leave cards on vacant houses so when an irate owner of a vacant house calls just let them know you left your card at their house, it was 18″ X 24″ and said I buy houses. They’ll laugh and now you have a seller to talk with plus the sign is working the neighborhood for you! Remember what I said “Love me, hate me, but never tolerate me!”

* Real Estate Marketing Method #6

Web Sites. In this day and age they are a requirement and I recommend one for buying houses and one for selling houses. When you have your own websites there is no limit to the number of words and pictures you can use. Many sellers want to check you out before calling and a website can be your silent 24/7 workhorse.

* Real Estate Marketing Method #7

Newspapers. Can be very effective and inexpensive/cheap depending on the area. In large metros it may not be cost effective to a daily ad in the paper but in other areas being in the paper is a great form of real estate marketing. Ideally you want to be in the paper 7 days a week. Most calls come on Friday-Sunday editions but you may be the only ad running on the weekdays. Just one deal will pay for itself for several years.

* Real Estate Marketing Method #8

Radio. As you grow and become more aggressive you’ll want to consider the radio. I’ve ran ads and even had a weekly radio show in Phoenix Arizona. The key to success on the radio is bribing customers to call you by offering a free report, free widget, or something of value.

* Real Estate Marketing Method #9

Television. Similar to radio and a possibility for you to consider. When you start to deal with TV and Radio advertising make sure you can track the response rates and measure the results. Could be extremely effective or a real estate marketing bomb.

The most important thing to remember for your real estate marketing is to be diversified and have several methods working for you all the time. And just like fishing the more lines you have in the water the more likely you are to catch a fish and eat dinner.

If you are starting in real estate investing read “Real Estate Magic 101 – How To Get Rich In Real Estate Even If You Are Dead Broke!” This unique book should be read by every person considering a real estate career, whether it be as Realtor, investor, or developer. Especially impressive is the amount of detail and how to advice that can be found in the book including samples on real estate marketing.

5 Elements to Jumpstart You Into Real Estate Investing

Wednesday, January 16th, 2008

So, you wanna be a real estate investor, but aren’t sure where to start. You’ve heard all the stories of people becoming self-made millionaries through real estate. You know that some of the richest people in the world have achieved their dreams through real estate and you want to be next. If you are thinking about getting involved in real estate investing, this article is for you so please read on.

Being a real estate investor can be extremely exciting and lucrative. Whether you want to be a full time real estate entrepreneur or just invest in a few properties to make some additional income, real estate investing can help you achieve your financial goals. It is something that can be done full time or part-time while working another business or job. The opportunities in real estate investing are endless.

What exactly do you have to do to become the next Donald Trump? Here are the steps I would recommend to any individual wanting to make the leap into the exciting world of real estate investing.

1. Invest in education. Take a real estate seminar and learn the basics of how to buy and sell property. The risks are too high not to be educated. The last thing you want to do is to go out and buy a property and lose money. You must know the rules to find good deals. All deals aren’t good and all houses aren’t meant to be bought. You will want to get familiar with the local laws and regulations on buying property in your area or any area you are interested in.

2. Join a local REIA (Real Estate Investors Association). This will give you to the opportunity to network with other real estate investors in your area. Always go to the meetings early to network with as many people as you can. You will get many helpful hints from experienced investors and learn many tips that will help you in your own business. You may even find a mentor or a partner for you deals. Many REIAs also have special opportunities to get in on some good deals. REIAs are a great opportunity to be in tune with what’s going on in your local market and meet great contacts.

3. Set goals. Decide what you want, write it down on paper and set a plan to achieve it. For example, you may want to figure out how much money you want to make in a year. Break it down to a monthly goal and see how many houses you need to buy in a month in order to meet your goal. It is always easier to break down you larger goals to smaller goals. That way you are more likely to attain them.

If you have goals that are too big, you might be setting yourself up for failure because they don’t seem attainable. It is great to have big goals, but just break them down into smaller goals that are realistic to achieve.

4. Create a marketing plan and set a budget. Let’s face it. If you want to buy houses, you are going to need a marketing plan and budget. Figure out what marketing methods you want to do to attract those deals.

There are many marketing strategies to choose from like newspaper ads, car signs, bandit signs, direct mail, and cold calls to name a few. You’ll have to test each marketing method to see what works for you. When you find something that works, keep repeating it! A good marketing budget that will get you a good amount of calls each month is $1,000/mo.

5. Tell everyone you know you are looking to buy houses. This is the most important thing. If you want to buy houses, you must let everyone you know you are looking to buy houses. Now is not the time to be shy.

Print up business cards and pass them out to everyone you know, like the cashier at your grocery store and your waiter at a restaurant. Wear a t-shirt that says you buy houses to the mall and allow curious passer-byers to ask about what you do.

It’s the simple things like this that have the most impact sometimes. You never know who you will meet that may lead to you next deal.

So, I’ve given you a list of things you can do to get started. The final thing you must do it take action! Nothing will happen if you don’t take action to make it happen.

Real estate investing can be extremely profitable and allow you to have the lifestyle of your dreams. You can gain control of your future by implementing these steps. Now go out there and buy those houses!