Hello friends of BP.
I have 10K$ or so, to invest in maketing, What do you think would give me the best result short or long term and best return on my money, if you know what I mean.
@Olivier LePage What are your real estate goals? If it's wholesaling, fix and flipping, buying and holding SFR's then I might recommend a direct mail marketing campaign - we have had good results with it. But whatever direction you choose, try to develop a good marketing plan around it, by being consistent on a weekly/monthly basis, you probably don't want to spend all $10K in a month or two.
Good luck in the direction you choose.
It also helps to know what kind of systems you have in place to handle the leads that are generated. You don't want to be pulling in a hundred leads a day if you have no way of handling that amount of calls. I've currently got a marketing budget around $5k but I'm just starting out and plan on handling the leads on my own so I'm sending out 1000 direct mail pieces split up over several weeks. I should be able to handle the number of calls that generates on my own around my full-time day job. If I wanted to crank it up I would hire a VA (virtual assistant) to take the calls and qualify the leads for me. But I like the idea of screening the leads myself for now. Hope that helps and good luck!
don't send more than 1000 yellowletters first month then 1000 of zip letters followed by 1000 large text postcards. That shoud run with list around 2400 or less.
More then that is too much
Over and over again, the answer to this question is: direct mail with a systematized follow-up. The vast bulk of your deals will come from the 3rd mailing onward.
You may want to get an inexpensive website too such as https://oncarrot.com/tour/
For that amount you could do direct mail and a website.
I would follow @Michael Q. instruction on the DM, he is the resident expert. If you don't have experience talking with sellers you really want to start small. It can get overwhelming fast if you are busy with other tasks and have 20-30 calls coming in per day. You don't want to lose leads by not making contact with them quickly.
For a website Oncarrot works or I started out using Wix for $25 upfront and $10/month. Design a simple website with form and phone number. Then setup a PPC campaign with Google and Bing, set a budget and watch the leads come in.
Nice to see a fellow Canadian on site.
You have lots of good advice here about getting started in your marketing.
Are you planning on investing in the States or in Canada? If you are planning on investing from a distance, it has some challenges. You need to set up a good infrastructure for yourself in your new market, or you may find yourself overwhelmed and unable to actually follow through on any leads that you do find. Simple details like getting a local number can be problematic for us Canadians. I would be more than happy to share my experiences if you want to drop me a line.
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