WARNING: This single step can double your property investing income in the next 90 days.
Pick your target market
Identify what your target audience will be. I understand from experience that it is really easy to want to do WHATEVER: Foreclosures, probate, absentee owners, deserted residential or commercial properties, tax liens, lease alternatives, and the list goes on and on! However, to be a successful investor and to really make money in realty, you’ve got to focus! Drill an inch broad and a mile deep!
Let me think, you heard a teleseminar on short sales and you wanted to dive in! Then, you buy the probate house study course you just found online!
I am guilty of this! I went to a 3 day realty training several years earlier. Each technique, method or tactic that was taught was “it”! So, immediately upon leaving, I chose to try everything at one time … The important things about this is that we’re so often searching for the magic pill, and unfortunately, no such elixir exists in realty.
Believe me. I understand your frustration when whatever appears to contradict everything else. So, I’m going to clear things up for you! You don’t have to do whatever in real estate. You need to do one or two things well. So, maybe you deal with foreclosures and within the probate system for your property investing focus. You become the professional in those locations.
You discover one market and how to negotiate, get rid of objections, resolve problems that turn up and so forth. I integrated it then carry on to the next market and let the system run on autopilot.
So, first things first …
1. Select your specific niche:
Foreclosures, probate, absentee owners, MLS, abandoned properties, farming areas, tax liens, code infractions, etc.
2. Determine your method of communication:
Direct-mail advertising, owning for dollars, telemarketing or mass media advertising
3. Set your real estate marketing budget plan:
Find out what does it cost? you are going to spend per campaign. A campaign is not a month-to-month budget plan. Remember a real estate marketing campaign is not always a month-to-month budget. You might spend $100 one month and $500 the next just since of exactly what marketing tactics you are utilizing.
4. Carry out
Execute your strategy– and stick to it! You have actually got to commit to your real estate marketing otherwise you’ll be throwing cash out the front door instead of really making money in realty! Be client and stay in for the long haul and the offers will come. Just keep in mind that property marketing is a financial investment into your realty company and continuous investment leads to a consistent stream of income.