How much does your marketing budget impact your campaign?
Hi BP,
New investor here and I've got a question here and would like your help/advice. I am beginning the process of wholesaling because I need more starting capital to start buying multi-families in the Boston area. Here's my question:
How much does your marketing dollars make a difference in your success/deal rate as a wholesaler? I have an example:
Person A has $1,000 to spend a month outside of his regular job and outside expenses to send out letters, etc.
Person B has $5,000 to spend a month outside of his/her regular job and outside expenses to send out letters, etc.
Is person B, having $4K more in marketing dollars, more likely to get a deal than person A? Rhetorical in nature, yes, but I guess my question really is, how much money should you be putting into your marketing campaign? Person B inevitably can send out more letters, but at what rate can we expect him or her to succeed than Person A?
As I am gearing up to send out letters, (aiming for 1K a month), I just would like to hear how much people are spending and what they are experiencing as a result of whatever budget they have set. Thanks for the help and I hope I made sense with this post.