I am new to investing and am trying to be involved in any real estate dealings I can, to learn and network. My investment strategy is to buy and hold small multi-family units and eventually move into some larger commercial properties. My Aunt flips about 1 SFR a year in A+ locations. She is set to close on a property next week. I have asked her if she would take me along so that I can learn the process. My goal is to learn about rehab cost, tracking finances, working with contractors and such. I have already been able to meet her inspector who she works with regularly. In an attempt to add value to her and the education they will be providing me, my thought is to hire a friend of mine who produces high quality video content for real estate agents and auctioneers(yes, there will be drone footage). The home is one owner since 1955 with minimal renovations so will make for a drastic change. This brings me to my question for you, my BP family. Do you have any advice, tips, strategies for creating such content? How valid of a strategy is this in adding value to her project? Should I strictly shoot before and after content, or some during rehab as well. What platforms should be used to help create a buzz for the sale. Should I use paid, targeted advertising on Facebook or other social platforms (this I have practically 0 knowledge of)? Any comment is so greatly appreciated. As always if anyone wants to just talk real estate, I would love to connect over email or a call. Or if you are local lets get coffee! Thank you!
I am new to real estate investing but I own a video production company. I can just offer some ideas and comments about the video production aspect. Take any bits of this advise you like.
- If your friend has the RE video production experience listen to her/him. Maybe set a budget and see what they can do.
- Before and after content. Once the rehab happens you can't do "before" shots so it may be beneficial to have them. At least do photos of the "before." Hold your camera in landscape direction (horizontal) so the photo will match the aspect ratio. Think of how your wide screen TV looks. The before/after shots may not help your Aunt with selling the unit but it may help her in presentations to lenders on future properties about her capabilities as a flipper/rehab manager. Really good "after" shots and/or video will help with her rental/sales listing.
- Shooting during rehab. This would be interesting but I'm not sure of the value of it overall. If you do it one idea would be to do a time-lapse during one section of the rehab. Take a photo/video shot from the same location in the room at various intervals throughout the rehab process. Then edit those shots together.
- On all our videos we like to put a call to action at the end as narration and/or text graphic. Tell the viewer what to do next. Visit this website. Call this phone number to find out more. Come to the open house on time/date....
- Host the video on YouTube or Vimeo. They both have free accounts. These will be your "playback" mechanisms. Then post that video on Facebook and other social platforms with information about the property. Not a hard sell. Just providing information that will "solve some buyers problem" From numerous BP podcasts I have heard to always try to solver another persons problem. In this case, a buyer looking for a home of a certain type, style, remodeled state, location, etc...
- With your Youtube/Vimeo title use the property type and address in the title (i.e. Just Remodeled 3BR/2BA Single floor ranch, 123 Main st, City, NC).
-With your Youtube/Vimeo description put the URL of the property website (if you have one) and then hit "Enter." This will create a clickable URL in the description. Put the relevant home info in the description. At the end of the description put another call to action. Tell the reader how they can get more info (URL, call, visit...)
Those are just some of my thoughts. If you have any other specific questions about video feel free to run them by me.
My wife and I have a goal of doing our first deal here in North Carolina before the end of the year. Our own SFH has equity. Funding sources besides our own cash is getting completed. Our team building networking around Winston-Salem has started. Education from BP - ongoing and priceless....
All the best to you.
I appreciate the thorough response. It seems like my thoughts about which parts would have actual value and pretty close to yours. We did discuss the idea of a time lapse, but it seems the ratio of labor to value is skewed. I love the ideas about, titles, description and the call to action. Good luck on your upcoming deal and feel free to reach out, I love talking real estate!