Everything works. some better than others.
But you won't know until you get out there and do it. Do all that you can - signs, walk neighborhoods, hand out business cards, magnets on your car, etc. etc.
But do something everyday. The best way to learn is by doing. Eventually, you'll find what works for you.
Just do it.
We are just starting out as well with a limited budget. Driving for dollars and contacting the owners will work, it's a numbers game. There are many different apps you can use as well, but again budget is the key. I believe it will help you to grow and learn the areas you would like to focus on as well. Just my 2 cents.
Originally posted by @Ronaldo Beaubrun :
I’ve recently started to take action after a couple years of studying the real estate game. I want to start off wholesaling and start marketing, but unfortunately I’m a college kid working on a very tight budget. Someone said that I should consider driving for dollars and start building a list from scratch, but I want to know how effective is that approach? Or, if there are any other cost effective ways to market for good quality leads? And If so, which strategy would help me close a deal in the least amount of time?
Hmmm, I feel a bit like most of the answers here are 1 dimensional. All totally fantastic replies but I guess I think a bit more ... grand?
Only money seems to be the deciding factor whether you drive for dollars or not.
You said you are a college student and it seems the natural assumption that was taken was, that you have no money. But my little sillybuns, do you have time?
When I was in college I had NO time, No money, No girlfriends.. wait whaaaa??
So you asked 2 very different questions. Fastest way to get a deal, and if driving for dollars is a good idea. These 2 do not combine well.
Fastest way to get deal in your position? Direct Mail Marketing. Hands down... or PPC.
Driving for dollars although less expensive (and more time consuming) you may not EVER get a deal. (Sure same with DMM and PPC, but the chances are far less to make a deal with driving for dollars.)
DFD (driving for dollars) keeps you limited to a very very localized section (or sections) and the numbers just are not worth it. I would absolutely not bother with DFD.
You will get much better results getting a waiter job working the same hours you would be driving, and with the money you make send out a humble DDM campaign up, and focus on getting a highest performing list.
This will save you time, effort and money.
Please forget bandit signs.
Not only illegal, they are a waste of time. Great if you want to do maybe a deal every 5 months, but if you want to be like your idol, (me), you want to flip 3, 4, 5 houses at a time and become successful ASAP.
Here is the mistake people make, beginners and seasoned alike.
Everyone focuses on "How am I going to get a lead right now!" and no attention given to how am I going to get a lead next week, next month. How can the work I am doing now, the work to " get me a lead right now", also automatically going to get me monthly deals, weekly deals daily deals without having to do any extra work? So, how is DFD going to give you an inflow of leads coming in automatically without having to do any extra work? It can't. So don't bother!
How many think this way? Honestly, not many. Without this kind of mentality, cleverness and insightfulness, you are simply not going to make it.
Yes focus on making a deal ASAP.... but not for those reasons. You need to systemize your work. Not just work to work, to get a lead.
"Is there any cost effective way to market for good leads?"
Yes honeybunz, YES there is.
There is a BEST way to market for leads in a cost effective way.
Get a website, rank it first on google and watch the leads stream in for free while you .... (omg fine fine..) brush your teeth. I was going to say something else, but @Mindy Jensen would stop being my friend!
So if your first thought reply to these methods start with "but...".. forget it!
But it is hard to rank
But I am a beginner
But I know nothing about SEO
But I am just in college...
FORGET IT!! Give up right now. You simply are not going to make it. You will try (inreality, you convince yourself you tried), do a halfbutt,... can I say halfassed ? job and fail miserably and blame it on everything other than oneself.
if this reply makes you to have an evil grin as you evilly rub your dirty hands together and can't help but cackle evilly... we will have a new potential successful investor in the midst.
I did Direct mail marketing AFTER I quit my job, with virtually no money... made 14K a month (I think) after my first DMM campaign launch.
And if I can do it... nope, that doesnt mean you can too haaahahaha
But you can definitely be convinced it is possible!
so... what is your plan! Are you not confident you will make it big? You don't ALREADY know in your bones you will be filthy (rich) and successful?
Yes? Then why do DFD? This is just for the 90% of the people that will "try".
If you know you will do well, skip this and work on establishing an infrastructure for your business that WILL get you deals continuously. Think big, to make it big.
Do or do not. There is no try!
Originally posted by @Ronaldo Beaubrun :
@Jerryll Noorden Thanks for the words of wisdom! I truly appreciate the honesty, and no matter what happens I’m going to kick a**!! I actually have a close friend who made a living off online marketing and knows about PPC, SEO, etc. I plan on buying a small list and setting a weekly budget for DMM. But I’m curious, with so many different lists out there; which one would you recommend starting with?
Good to hear!
So you know a friend that knows SEO, PPC.
Here is an other piece of advice that probably is the BIGGEST reason I own Google in my market..
Never, never neverrrrrr count on others when it comes on the most crucial aspect of staying in business, and being successful.
SEO should be done by YOU. No marketing company, No cousin Joe, now girliefrind. no! YOU!
You can simply NOT imagine how crucial it is that you take care of this! This IS your business (or going to be). This IS the way your company will survive and your success will depend on how well you can maintain your first place on the Google!
So learn how to do it. Learn how to apply it and learn how to create your own SEO strategies.
Keep in mind... I am crushing it because all these people here that own SEO companies are ignorant. They THINK they all know SEO because "they own a SEO company". The honest truth is, MOST of them have NO clue how SEO ACTUALLY really works. And their lack of SEO knowledge is the reason I am successful.
All of these companies worship Google. I completely ignore google. So I will always be different, and because I don't only know the "rules" of SEO, I UNDERSTAND WHY these rules are in place, I can bypass these rules and create my own completely unique SEO strategies no oe else is using... and I am still the #1 choice of Google.
My Bounce rate is under 50%, my time on page is over 3 Minutes.. my numbers blow away the competition.
Do SEO yourself!
As for lists, Use USLeadlist.
Like MLS, lists are saturated. Everyone is using them.
US lead list is the only list there is (to my knowledge) that only sells to 3 people per county. If you not on the list of these 3 people, you are poop out of luck!
Yes I am targeting local markets (I am targeting entire CT).
If you are asking how do you pinpoint markets to market, that is simple. Create city pages. Create a page on your site that solely focuses SEO to that city.
I will write you a Pvt message on the details f the website and how to set it up.
I recommend anyone driving for dollars to make it a part time job since real estate is a numbers game. What I mean by that is make it a habit to drive a few hours a day in a zip code or area that you're wanting to focus in and keep doing it regardless of your results until you've cleaned out the city (basically)