Hello all, I will soon be in this predicament and would like to know what the BP Community thinks...
Do you think that if I have $6,000 for marketing to wholesale I should...A. Market consistently for 12 months with only $500 in marketing per month over that time (good for consistency) B. Market heavier with $1000/month for 6 months and hope I land a deal to be able to continue marketing (kind of a happy-medium) C. Market even heavier with $2000/month for 3 months and hope I land a deal to be able to continue my marketing (difficult for consistency) I will be doing direct mail, postcards ($.33)
Out of those options I would go with B.
However, please consider -
D. get a job working for someone in real estate and use that 6k to live off of while you're not making any money. Then when you have enough knowledge and money head out on your own.
I would actually lean toward A with B a close second. I think you should also consider other costs you’re likely to run into. Are you going to print business cards? Are you going to rent a mailbox (preferably at a UPS store instead of the post office)? Are you going to get a second phone number ($10/mo via GoDaddy)? Are you going to setup a website? Do you plan on getting any training (I spent $2500 on an amazing program that fills in all of the details)?
I’m only starting, and I’ve realized not only these costs, but having other things in place, like establishing a team (realtor, lawyer, title company, etc.)
Congrats on starting so young and heading in the right direction. I’m a bit jealous given that I’m a few decades behind you.