I'm Down to Last $2,500 In Marketing Budget to Buy Houses, How Will I Spend it? My answer is...
2 Replies
- 03/09/15 07:30PM
- Hyatt Lisle near Naperville 1400 Corporetum Dr, Lisle, IL
- $15
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I've been asked by someone here on BP:
"I'm broke....tried doing direct mail but didn't get any good responses. I am desperate to do a deal by the end of the month. I am down to my last $2,500 in marketing budget. Where and how will I spend it?"
My answer: do NOT spend it. Keep it. Hustle instead and talk to people who are in the real estate business and GET leads and do deals. This is what I did when I started.
For example, talk to EVICTION attorneys and mention that you are looking to buy houses. Ask him if he has clients who needs to get rid of their problem properties. At one point in my real estate investing career, I have a problem property with a tenant I am evicting. Had someone approached my eviction attorney or ME - I would have sold that house for what I owe on it (I will forego all the equity I had at that time just to get rid of a headache).
One eviction attorney will have 20-30 clients (if he is good). Some of those clients will be real estate investors with multiple properties. If 5 of his clients are landlords and an average landlord has 3 properties, one eviction attorney might be able to give you access to 10-15 properties a year. Imagine if you have 10 eviction attorneys "working for you"?
(of course the eviction attorney will NOT give you his clients' names and contact info - that will be a violation of attorney-client privilege; however, you can ask the attorney to give your business cards to his clients)
Talking to eviction attorneys is only ONE of the myriad of people whom you can talk with to get property LEADS.
TONIGHT, at 7:30 PM, at the CHICAGO AREA REAL ESTATE INVESTORS ASSOCIATION, (CAREIA.org) I will reveal other ways to get property leads WITHOUT spending a DIME on marketing.
I am not making any money with this. I am sharing information freely in the same way I've shared a ton of information freely here on Biggerpockets. There's no upsell to a home study course, seminar or workshop.
CAREIA.org is a non-profit real estate investors association and they do NOT make money pitching guru courses unlike other REIAs.
Reply below if you're coming. Better yet, register below:
http://www.meetup.com/CAREIA/events/219336969/
See you tonight!
Wendell
TheDiligentWholesaler.com
P.S. If you don't know me, you can listen to my podcast here:
http://Biggerpockets.com/show65
I also give BP a weekly update on what's happening in my real estate business. Here's the LINK.