My business partners and I are looking into expanding our real estate investment business. A couple questions in regards to direct mail marketing from those who have found it very rewarding:
Is it worth it to narrow down your market to, ie, only owners who own their homes free and clear, home owners who are out of state, etc, or send out a mass amount to every homeowner in a particular area?
What is a good average monthly budget on marketing?
Our plan is to use click2 mail. Is there any other site anyone can recommend that they feel is better?
Has anyone used virtual assistants?
Please provide any feedback, good and bad. Thank you.
I've heard a few times on the podcasts that $1,000 a month is a good starting point for a marketing budget. Obviously, some spend much much more than $1000 a month.
Hey, Im actually looking to start my first direct marketing campaign for my company soon myself, and Ive heard a lot of positive things about yellowletters. com Account Closed , but I think whatever your budget may be, consistency will be the key here. Good luck, I look forward to hearing more.
It really depends on your investing strategy but usually the more targeted the list the better. $1000 a month is a good starting point. When setting up a budget you want to spend whatever you can afford for 6 months without getting a deal. The more money you make the more you can set aside to scale your business obviously. The money is in the follow up when it comes to marketing.
Thank you all for your feedback. It seems as though $1000 a month is the most common response; here and in other forums regarding direct mail marketing.
Anyone have any feedback on the use of virtual assistants?
There are ton of investors who use them successfully... I would shoot someone like Tom Krol or Joe McCall a PM. They are both members here and use VAs extensively... They probably could point you in the correct direction..
Account Closed I've used click2mail in the past. There service is great, but one issue I had was that the envelopes looked to much like junk mail. They didn't have regular stamps either. This was 5 years ago so they may have more options now though.
We have also used Image Media for sending postcards.
Thank you @Michael Q. ,
We decided to opt out of using virtual assistants for now, but I will keep those two in mind when we need them in the future. I do have some questions for you seeing that you are afiliated with Yellowletters.com
Any advice on some verbiage to use within our mailers that sounds a touch more personal vs. the typical investor's "Sell me your home!"? Will I be able to get help with something like this within the site? I'm looking for a few samples of yellow letters to present to my partners by this Friday.
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