How would you spend a $10,000 per month marketing budget?

Question

Simply put, our goal is to net 100k per month via off market deals through a mix of both rehabbing, wholesaling, and "whole-tailing".

What would you spend a $10K per month marketing budget on if you were in our shoes? It seems like alot to invest on direct mail alone. Your advice is greatly appreciated!

Jay Hinrichs · Answer

@Michael Quarles  OK mike for a test run here...maybe we can do this as a live exercise for BP and let those interested shadow or follow... I will put up the 30k  you mentor me through it and we post results...

Take myself who other than a few very target small markets for very specific properties has never done a direct mail campaign.

I have the assets in place to follow up and close and do the rehab or ... can close ( have the cash) and then flip... so I have that part in place.

Elio L. · Answer

Thanks for the reply Michael. Can you elaborate a bit? What would you cycle every 90 days? Do you mean mail lists or mailers?

Michael Quarles · Answer

send the same pc to a different list each month for 90 days.

10000 should buy you about 25000 prospects.  Which is 75000 in 90 days.   If you use my PC that's a total of  1200 prospects responding which should equate to 10 deals which equal a 270,000 return.

Jay Hinrichs · Answer

make sure you have the man power systems and such in place to handle the lead flow that kind of money should generate in leads...   what i see from a practical standpoint ( IE I get 3 to 5 letters cards etc a week soliciting to buy my properties.  ( they are probably tagging the free and clear one's.. since we have not owned them generally more than a few months...  RARELY do I see a follow up letter as Michael has suggested.. and only 1 in a 5 or so that I call either picks up the phone or even bothers to call back.   I was raised old school salesmen tactics   IE  always answer phone live... either my self  secretary or ans service... and call back same day ... set appointment ... don't try to qualify to hard on the phone... IE pre screen leads... unless you have so many that it does not matter..

Elliot Smith · Answer

This sounds awesome Jay. Michael has been great for us to work with. I also call bandit signs and CL ads and I rarely get calls back. I don't understand why they even waste their time and money.

Hope your enjoying this beautiful Portland weather.

Gilbert Gomez · Answer

Lord Michael Has spoken.

Michael Quarles · Answer

postcards on a 90 day cycle.

Antonio Coleman · Answer

Thanks Account Closed

Antonio Coleman · Answer

Account Closed There is no right or wrong way of doing this, so I'm just going to take it from a common sense way of doing things.

$1k - create a awesome REI website that includes epic wow educational content that converts.

$1k - hiring someone/company to handle all your online marketing from

- SEO

-Blogging

-Email Marketing

-Video Marketing

-Profiles/Citations

-Social Media

all this can run you around that amount or lower

$500 - use this amount for PPC on Google, Facebook and a number of other

$N/A - run local newspaper ads

$N/A - run radio ads

$N/A - run tv ads

$1,000- use this to do direct mail, and send them over to that educational rei website that will convert into leads.

$1,000 - sponsor as many activities in your local market as you can

Just this alone will dominate any local real estate market.

Elio L. · Answer

@Antonio Coleman

Nice website btw

How would you spend a $10,000 per month marketing budget?

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