Curious for those of you who've been marketing as a RE investor: if you had a $300 monthly marketing budget (as you can imagine, this number isn't arbitrary but realistic for my own life), how would you spend it? My initial idea is a split between Investor Carrot and a year-long direct mail campaign to select homeowners. Just wondering what you RE investors who are actually looking for leads think!
@Eric Mukai from personal experience, using both strategies in the past, I would vote for Investor Carrot. You will absolutely see the best return dollar for dollar with their program.
I think you will get biased responses to your questions because the folks that use DM (which is a greater majority) will swear by it, and the folks that go digital will opt for Investor Carrot.
What I can say though, is with a $300 monthly marketing budget, as long as you're not in a super competitive market you can mail out a good sized list - 750 first class postcards a month full service in a scalable fashion as long as you put together your own list, and close a deal within the first 6 months (first 2 months if you're in a secondary market) and have a lot more funds to market with after you close your first deal via DM. If you want a DM game plan or scripts on talking to sellers or help with a campaign, let me know and I'm glad to help.
@Ray Lai: I am in a market which IS super competitive though--Phoenix, AZ. So I'm curious how your feedback would change then.
It takes a LOT more mail in a competitive market to the tune of around $2500 in mailings to yield a profitable deal in super competitive markets. In secondary markets, our investors are picking up deals in their first couple of mailings, in the competitive markets a lot take 4+ mailings over a longer period of time because the markets are saturated with mailings and it takes a lot more sustainment for the letter to arrive at the right time for the seller to act. Newbies often start and quit in competitive markets because they can't sustain.
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