Wholesale Marketing Strategies

12 Replies

You can purchase lists with different motivations like absentee owners, 60-90-120 days late on mortgage, pre-foreclosure, delinquent taxes, water cutoff, code violation, evictions, probate, divorce, etc. and mail or cold call.

Other methods are driving for dollars, door knocking, wholesalers, craigslist, Realtors, FSBO sites, expired listings, put out bandit signs, billboards, newspapers, other offline publications.

You can use pay per click/adwords, website with SEO, facebook, Linkedin, Youtube, and other forms of online and social media marketing.

If you have a big budget you can do radio, TV and billboards. Lots of bigger outfits do well with these mediums.

OMG people. (Except you Mr Greg, you get a cookie)

How can you talk about marketing and not mention S E O.

You are ALL fired!

Breathe monkeyboy breate!!

OK listen.

Do NOT do doorknocking

Do not drive for friggin dollars.

All of you seriously.. you need  to start thinking! Use your intelligence.

How many % of the wholesalers fail?

over 90%

How many % of investors fail over 80%

What is everyone doing?

cold calling, driving for dollars, DMM.

So explain this to me, and STOP regurgitating all the crap everyone keeps saying.

How Do You Expect To Be A Successful Real Estate Investor When You Are Doing The Exact Same Thing As 97% Of The people That Failed Are Doing?

Do you honestly think you are special? That magically this will not apply to you  just because you are you? Come on people STOP winging this and THINK!!

But MSOOTKAUG, I have no money what else ca I do.

THINK you silly sausage think!

So you are going to use a method that is known not to work to make money, so you can do a method that WORKS to make money?

If you do not have money, find a job first. Get $5K going and then start it the right way. I am willing to bet, you will get much further a lot faster if you do it that way rather than diving right in and hustling!

STOP winging it and think system!

And to ANYONE that dares telling me "But I got a deal in the first week driving for dollars", I will say OK. Fine, Show me your leads and I will show you mine.

OK I will go first:

Show me your leads now driving for dollars, door knocking or DMM

Come on show me!! No?

OK then!

Seriously, stop winging it and take control. Step up!

@Marlon Jackson Direct mail and phone calls have proven to be effective. You are reaching out to people who aren't actively looking to sell, so they probably haven't built up high expectations for the price.

Work with a list broker who can make suggestions for your area. If there are a lot of other investors to compete wiht, you don't want to get the same lists that they are getting. There are some new motivated seller lists to consider such as Owners with Low Financial Stability Scores (FSS) and Seniors with Long-Time Ownership.

Originally posted by @Marlon Jackson :

@May Emery how do I access the last two lists mentioned!

 Well, Listsource.com and Propstream.com have a really robust engine service that will allow you to purchase specific lists that can filter for demographics such as older owners and those owners that have owned that home for 20 years+

Originally posted by @May Emery :

@Marlon Jackson Direct mail and phone calls have proven to be effective. You are reaching out to people who aren't actively looking to sell, so they probably haven't built up high expectations for the price.

Respectfully...

I definitely can not agree with this.

If someone approaches you on the street and offers to buy your car from you, are you going to accept a low offer because you were not actively looking to sell? YOU wouldn't, right? Then why would he, she.. it?

If they are not actively looking to sell, they are NOT motivated. And why would anyone accept a lower offer (when they don't know you or have a good reason to) when they can get a lot more for it, especially when there is no pain or urgency for them to sell.

Be careful not to look at data and see what you WANT to see. I see so many people do that!

And I would not use the word "effective" when it comes to DMM or cold calling either.

3.5% to 10% is not "effective". 

If you play baseball and your hit rate is 3.5% to 10%, you are not effective. I know this is lousy example but the point remains. DMM can work. Yes. Absolutely. DMM is still a valid method of marketing, Sure. That is how I made my first few deals. But I wouldn't make it seem like DMM is actually a good strategy, because it just isn't! 

I wish people would stop preaching DMM, cold calling and bandit signs out to the newbies. It is THIS why 90% of the people fail at REI.

Start telling people that PPC, Facebook ads, SEO, and these PROVEN methods that are way more effective (if done right of course) than cold calling.

DMM becomes more useful when you have money. Because DMM is so ineffective, you need to send SO MANY mailers to get a single deal. When you have a ton of money to spend on marketing DMM now becomes more feasible. See, if DMM really was effective, you could send out 300 cards and get something. But unless you send out 3k to 5K cards out, don't expect anything to happen. Of course you can get lucky, but we are not talking about luck here. We are talking about succeeding.

Now SEO for example. A website with a 10% conversion rate, converts 1 out of 10 people that visits the site."Well you just said that 10% is not effective". Well SEO is 100% effective because you do not pay for it! Every lead you got, cost you nothing (other than the hosting of your site). So "effectiveness" talks when it comes to SEO is a completely different level.

I am not whaling on DMM or anything,  I am trying to give people a more complete image of DMM and not just a one sided view.

So DMM is definitely a valid method, IF you do it right. Send 4K postcards out.

But it DEFINITELY is not the weapon of choice as a beginner! I much rather do Facebook ads or PPC starting out!

@Jerryll Noorden I’m learning about PPC now and it seems worth it if you are consistent with a strong enough budget. PPC seems to be the more logical choice if you want to reach more people. Because I’ll be fresh starting so I won’t have an SEO rank so I would have to use PPC to push myself out there. My times coming to take a risk well needed taking.

Seems like everyone is telling people to DMM or cold call and it’s starting to sound like BS to me.

I’ve recently had guys claiming to be millionaires tell me PPC won’t bring me any deals. And some telling me not to wholesale at all! But when I cold call or send letters It does seem like I’m spinning my wheels.

Originally posted by @Marlon Jackson :

@Jerryll Noorden I’m learning about PPC now and it seems worth it if you are consistent with a strong enough budget. PPC seems to be the more logical choice if you want to reach more people. Because I’ll be fresh starting so I won’t have an SEO rank so I would have to use PPC to push myself out there. My times coming to take a risk well needed taking.

Seems like everyone is telling people to DMM or cold call and it’s starting to sound like BS to me.

I’ve recently had guys claiming to be millionaires tell me PPC won’t bring me any deals. And some telling me not to wholesale at all! But when I cold call or send letters It does seem like I’m spinning my wheels.

 The trick with successful marketing is this.

  1. Enough Budget
  2. Target the right audience

DMM (the way most do it) doesn't target the right audience. People think it does, but it does NOT. You are gambling with DMM. Targeting absentee owners is NOT the right audience!!! Not because they have 2 houses does it mean they NEED to sell 1. More likely, because they have 2 houses, they are rich! And don't need to sell any!

that is why I would pick Facebook ads or PPC over DMM.