Newbie Questions- Marketing/Leads

9 Replies

Okay, so I have been researching for years and have been on the fence about investing for years, but no more! I am ready to start now! Few questions:

1. has anyone bought Cody sperber fast track 2.0? Worth the $500 in training?

2. Where can I get contract forms for state of Florida? Contract Genie?

3. I suck at marketing, it is for sure my weakest area, so does using direct mail websites/companies generate leads? Signs on the side of the roads (I've seen a few of those), Facebook ads (what do I say)? 

4. Any advice on getting a website? I wouldn't even know where to begin! Like, not at all! 

5. How do I pick a title company to work with? 

6. How to market whole sale deals? Contact realtors, MLS, try to locate other investors, Facebook, craigslist?

I am sorry to have so many questions, it seems a lot of the books I read leave out the specifics. I have reached out to some investors in my area only to be told I am their competition and if they were "to take on the hassle of training me I would have to go under contract with them so they would get 50% of my profits". I mean I understand to an extent to pay for training, but they just werent nice about it :-( 

@Melissa Davis As for marketing, it depends on how much cash you have. The best solution is the most expensive, but provides the highest return. The cheaper options will provide lower returns. The cheapest option is to sign up for Investor Carrot or Lead Propeller, and run Adwords ads to these pages. For $50/month and a few thousand a month in advertising spend, you can get on the phone with motivated sellers.

If sales is a strength, you'll do well with the above strategy, if it's not, you may want to start with bandit signs with a phone number, place them around your farm area, and practice sales until you are closing 1/6 or better. My biggest challenge when deciding what investors our marketing agency works with, is determining the performance of their sales team. It makes all the difference

My background is 8 years marketing in the the real estate investing industry, and just this year we've purchased 3 rental properties, planning to have 5 by the end of the year. So, I'm new to this as an investor myself, and happy to help if you have any questions. 

Get a copy of the FARBAR purchase and sale contract. I use the "as is" one. I would be wary of the pay to learn guys. You can find lots of great info on BP...and remember: you make your money when you buy. I also suggest "the millionaire real estate investor" and "hold" as books that are "must read".

@Sean Dolan

I do have cash to spend on marketing and website set up and even purchasing leads or direct mail. I just did not know which of the 100000 choices was best. 

Sales is definitely my strength, I have learned to connect with people from any background on a personal level, allowing myself to become a friend, not just a salesman. I don't know how I learned it but once I click with someone its a done deal. 

@John Thedford  I have the millionaire real estate investor book literally sitting next to me now :-)

I have read on here multiple times to avoid the "pay to learn guys". I once signed up to :apply: and when they said they needed 20k I immediately said NO THANK YOU! Not my way of learning! 

Thanks for all the advice guys! 

I agree completly with @Sean Dolan that focusing on making sure you're able to put deals under contract before ramping up paid marketing is the smart move.  Using PPC and sending tons of direct mail can bring in a lot of leads, but you want to make sure you're able to capitalize on as many of those as possible so that potential deals don't slip through the cracks.  

As my friend, Justin Williams, always says, "Nail it, then scale it!"

I've been generating motivated sellers leads online for over a decade and would be happy to talk online strategy with you if you'd like. 

@Danny Johnson I guess that makes me wonder How do I find a good deal without marketing? Should I talk to a hard money lender first and get a budget in mind on what I can afford with my cash down? Or should I "drive for dollars" and create a deal then go see a lender?

It's a lot I know I'm just trying to find what order works best for me. Its not always cut and dry as I'm learning 😁😁😁

@Melissa Davis with sales being solid, sign up for an Investor Carrot site or Lead Propeller and AdWords, then hire a PPC manager to manage your Adwords account. Our clients have quality leads coming within a week of signing our month-to-month contracts. 

That takes care of your website and marketing. We recently had a client ask to pause services because he had too many quality leads coming in. From there, you just worry about answering the phone, connecting, and closing the deals. Just like your time isn't best spent learning how to drywall, you shouldn't be learning the ins and outs of online marketing (it changes often). Hire experts to do what they are experts at, so more of your time is spent doing what you are an expert at. Good luck!!

@Melissa Davis

You can find all the advice in guru training on BP so you can save yourself the money. 

Lots of solid advice in this thread. If you want a checklist of things to do before starting your marketing/DM, I'm happy to send. Also scripts on how to talk to sellers.

For 2/4/5, I'd say go to your local REIA and make friends first with people and bring them value. Having a mentor will get you the right paperwork you need for your state and the right partners to work with on your team.

To market wholesale deals, you need to find the big buyers in your area and any realtor with MLS access can see this. You can target those folks. Also you might find them at the REIA as well.

@Melissa Davis great questions here! Exciting stuff... yet also probably overwhelming a bit :-) But you're in the right spot. Sooooo many amazing people here ready to help ya. 

@Sean Dolan and @Danny Johnson are spot on that most people focus really heavily on the front end... getting the things setup on the front end to get leads (the website, direct mail, PPC, etc. etc.)... but they neglect to hone those skills on how to connect with a seller, build credibility, and close deals. So as you're going and getting leads, really focus on finding the resources and/or help to continually sharpen your skills on the communication and closing side of the equation. Lots of great threads on BP and great mentors as well. 

On the website side of things Sean (above) has solid experience in that with investors so his advice is solid. Work w/ a company like us at InvestorCarrot or Danny at LP and get things setup so you don't have to worry about that side of it. Then dial in your strategy on how to nail the lead flow and scale. 

Hit me up anytime if we can help you hone that strategy! Let the fun begin :-) 

@Melissa Davis The tag in your message didn't work properly and I never received a notification of your message....hence the delay in my response. :)

Other than @Ray Lai it doesn't appear anybody really stepped in to answer the question with any actionable advice so far so I'll give my 2 cents.

Lender First or Deal First

First, determining the order of operations is confusing for most of us.  It can be scary to look for deals without lining up the money.  

I'd speak to other "active" investors at your local Real Estate Investor Association group or here on BP about great local hard money lenders.  Build a spreadsheet of their rates and requirements.  

If while talking to one of these active investors you find them to be very knowledgeable and experienced, consider the possibility of doing some joint venture deals where the other investor can put up the money and mentor you while you find and manage the flips.  This is how Melissa (my wife) and I got started 14 years ago.

Once you have some potential lenders, start looking for deals.  Many lenders and other investors won't take you seriously unless you show them you are working to find great deals.  Nothing gets a serious investor's attention like a potential deal.  :)  Hustle and let them know you're hustling.  That will put you at a level higher than 90% of other people wanting to get into real estate investing.

Finding Deals

How do you find a good deal "without marketing"?   I think a better question would be, "how do I find good deals quickly without spending a fortune on marketing?"

Melissa and I fondly remember taking our kids with us to drive for dollars.  I absolutely love this and have a guide for it on my blog.  It's amazing how much we had never explored the different areas of our city.  We learned so much about each area and where investors were very active.  It's great to find these potential "farm areas" where there is older housing stock that tends to have a higher level of motivated sellers.  

Get a list of the vacant and or really distressed houses.  Every time you see one, don't be shy or scared, get out of your car and talk to the neighbors.  Ask them if they have contact information for the owners of the vacant house.  Leave a card with them and ask they give it to the owner if they see them.  Tell them you'd love to buy it and fix it up so that a nice family can call it home.  I'm sure they'll be glad to get the eye sore fixed up and want to help you.

Find the owners' address on your local county tax assessor's website and send them letters stating that you are an investor that pays cash for houses and are looking to buy a house in that neighbor.  Ask them to give you a call to find out what you can pay for the house at 123 Example St.

Yes, you can find out much more about driving for dollars all over BP, but I wanted to mention it here and state that it's important to not get sidetracked trying to implement 20 strategies.  Become an expert at driving for dollars.  Do a deal and then look at getting a website and expanding.

Hope that helps!

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