Hello BP, tomorrow is the day that I'm going to finally deploy marketing. I currently make a small income so I only planning on spending about 150 a month on marketing. I am starting my buisness in Essex county MA and want to know what would be most effective in my area and with my budget either direct mail, I could send out about 250 postcard to absentee owners, or 100 bandit signs which I would put out either 25 a week or 50 every 2 weeks. So what do you guys think would be most effective in my market? Thanks in advance!
Learning what is the most effective for a specific area comes from just trying it out. The only issue with choosing those two types of marketing is that mailings take awhile to start getting deals, figure at least 4 months of consistent mailings to the same group, and bandit signs don't always last long, usually a weekend. You need consistent marketing you can do daily. Think of other things you can add cheaply or for free like calling FSBO's on Craigslist, door knocking on 10 doors a day, etc. The key is doing something every day.
Check your city and county ordanances. Most likely bandit signs are illegal. Direct mail is legal. I'd choose a legal course of action.
Bandit signs are specifically prohibited by Section VII of the Methuen Zoning Ordinance. So they would work perfectly, if by "work" you mean "cause me to pay fines to the city for cluttering up the right-of-way, being a bad neighbor, and general dirt-bag-ery."
Buy some postcards.
Bandit signs are "I Hate Them", I Love them" topic here on BP.
Check your ordinances, check your wholesalers in your area, call your REIA on "real world experiences" stories.
There are many more ways to market for sellers, buyers and private lenders - jv partners.
Here are 33 ways to market for Motivated Sellers.Bandit signs
Drive neighborhoods looking for vacant houses and FSBO's
Call FSBO ads
Search MLS for junker properties
Search MLS for expired listings
Contact landlords who are evicting a tenant
Contact landlords with properties for rent
HUD & VA houses
Properties with outstanding building code violations
Properties with outstanding health code violations
Fire damaged properties
Out of area owners
Network with professionals, i.e. attorney, CPA, REALTOR®.
Network with service people, i.e. letter carrier, pool service person,
lawn service person, newspaper delivery person, carpet cleaning people,
Magnetic car sign
Distribute business cards EVERYWHERE
Career attire (Polo shirt with embroidered "I Buy Houses" logo)
TV spots and
full-page ads in the yellow pages
Great list, Brian,
I would add more but the 33 ways you listed should keep any one person busy.
@Brian Gibbons Thank you for that list! Its a great list to start with.
wow great list thanks a lot @Brian Gibbons
Great post Brian! Certainly enough to keep one busy!
GREAT list Thanks Brian !
Thanks Brian! I needed that list
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