I need help marketing RIGHT so my efforts don't go to waste...
I'm currently on a very tight budget. I'm using only what I have to market as much as I can so I can get my first deal and use that money for more marketing. Currently, I ordered 50 bandit signs and last weekend I put up 25 around the North Miami area from Friday-Sunday. I didn't get any calls, and some of my signs were taken by home owners even though I didn't put the sign on their property.
So I'm trying to figure out other ways of getting leads since my bandit signs are only for the weekend. Yesterday I drove to Wal-Mart and got yellow legal pads, a box of red pens, and a box of envelopes for under $5 (Yay for smart marketing)... I still need to buy the stamps, the most expensive part of the process. I have a list of over 1,000 absentee home owners. Now, I'm going to write them all yellow letters... but I need help!
How can I keep up with everyone, keep the data organized, and be able to convince them to sell me their property so that all my work pays off?
I'm all for working smart, so every advice you guys have would be super helpful!
Your arm is gonna fall off if you hand write 1,000 letters! =)
The main thing is you want to hit the people on your list repeatedly. From those multiple touches, a few will call you and they become the only leads that you need to "manage" or nurture. You can simply keep track of the leads on an Excel (or Google Docs) spreadsheet.
If you talk to a seller and find they are not interested in selling quick at a discount, you want to get all their contact info and then follow up - first maybe after a month, then maybe every 6 months. This can be just a quick call - "Hi this is Andry Marquez again, I just wanted to see how you are doing and if anything has changed. blah blah"
Out of 1,000, you might get 50 to respond to a yellow letter over the next 6 months. So you're not managing 1,000 leads, you really just need to manage the 50, and you can do that with simple tools.
Don't over think this. Just do it. Marketing is about repetition and recall....
Hi Andry, I completely agree with what Dev said above. I also recommend and use Trello, a free web site that lets you organize your leads in a visual way and create a sales pipeline arrangement if you like. I have no affiliation with Trello, I just really like it and it's different than anything else out there. Alison
Hi @Andreina Marquez ,
Good for you for taking some action. I do understand the need to play it smart and conserve (when I first got started, I only sent out about 35 letters a week) But I would counsel you that cheapest is not always best. Just a little something to mull over to help you achieve the "abundance" state of mind :-)
Your question really has two parts that have completely different answers. In this space, part one I can answer but part 2 would take awhile.
How can I keep up with everyone, keep the data organized?
Spreadsheet. I use google docs because there are a lot of functions I love about it, but mainly so that it's in the cloud and always available. My "lead tracker" has four tabs. One is a Master list. I use it to plan my mailings. As people begin to respond or not, I move their info to different tabs to keep track of them.
It's the only thing I've used in four years and it keeps track of thousands of names and addresses, appointments, follow ups, Returns etc. (I talked about it at length in my Podcast, Show 21 if you'd care to listen.
and be able to convince them to sell me their property so that all my work pays off?
The short answer is to do it every day. Make lots of offers, talk to as many people as you can; know what a good deal is and what isn't. Learn how to find out what is more important to people, their equity ( which they cannot cook for supper) or taking care of what ever circumstance has come along to put them in the jam they're in.
Hope that helps.
I've only written 18 and my hand is already falling off! My script goes like this:
My name is Andry.
I was driving in the neighborhood and saw your property at _______.
I would like to purchase your house!
Please give me a call at _______.
I look forward to hearing from you!
And I do that on red ink on a yellow legal pad.
I'm currently using an excel sheet to keep track of everything. Your advice is really great! I'll keep in mind what you said about following up, It's really important.
Thanks @Alison M. I'll be sure to check it out!
That is some great advice. I'm already listening to the podcasts, I'll be sure to listen to show 21 as soon as I finish my current one. I really appreciate the help!
Originally posted by @Andreina Marquez:
I've only written 18 and my hand is already falling off!
I can totally relate. Check out this post over at www.strugglinginvestor.com It's a complete guide to an easier way. Plus....if I'm not mistaken, he still offers a piece of software called the SI Lead Manager. It was what originally inspired my own Lead Tracker
@Andreina Marquez I'm a big believer in getting the most out of less. The way I teach my real estate clients is to grab on to the power of the internet, and allow the leads to chase you.
That starts from day one of having a website that does all the work for you. The educating, contacting and the followups so its done all on auto pilot. Those bandit signs and yellow letter will work, but not effective as having that online presence. You can have thousands of potential leads coming to you every single month from doing the online marketing side of it.
Here is my first post on biggerpockets that will at least get you on the right track of success.
Thanks again @Jerry Puckett !
I hadn't even thought about working on my online presence yet, I'm really going to look into it and work on it as much as I can. Thank you @Antonio Coleman !
Free eBook from BiggerPockets!
- Actionable advice for getting started,
- Discover the 10 Most Lucrative Real Estate Niches,
- Learn how to get started with or without money,
- Explore Real-Life Strategies for Building Wealth,
- And a LOT more.
Sign up below to download the eBook for FREE today!
We hate spam just as much as you
You must be a BiggerPockets member to post on the forums
Join the world's largest, most open Real Estate Investing Community online, 100% free forever!