What do you do when you don't have money for marketing

Question

Hello bigger Pockets peeps, my question for you all is what do you do when you don't have money for marketing ??

This may be a simple answer but its just something I am trying to figure out.

Thanks in advance,
Perry

Dean Letfus · Answer

Also go to youtube and learn how to use Facebook and Linkedin for leads of both sellers and buyers.  I built my entire business more or less from facebook. I am yet to spend a dollar on marketing in the USA other than paying for membership of this site. I don't even have business cards :-)

James H. · Answer

Knock on doors

Perry Apawu · Answer

Thank you all for the great ideas, right now its just been a struggle with getting my marketing off the ground for my wholesailing business, money going out for marketing but none coming back in, so that was the main reason I asked about it, I have started doing some video blogs on youtube which I need to do more of and facebook and twitter will be going up today and also using Bigger Pockets of course, thanks for the very good suggestions from everyone, I will follow up in a couple weeks with some results.

Phillip Dwyer · Answer

Bill Gulley I have had to change the way I drive and how I wave to other drivers:)

Robert Adams · Answer

Perry Apawu you can utilize your own time and post on free sites there are plenty of them. You can click through the links on my about me page to get a feel for the sites we use. Majority have free options and then you can upgrade to paid accounts as your business picks up. Here is a link to the about me page: http://lvrealestatehelp.weebly.com/about-us.html

Bill Gulley · Answer

Phillip, I joined a company right after getting my license and sat through an orientation thing and the car signs were mentioned. I told them I don't drive well enough to have a sign on my car!

It really works, it also explains to neighbors what the heck you're doing in the neighborhood too. Not a good idea if you aren't a good driver and don't let people cut in front of you! :)

My suggestion was....walk, talk and use the phone, get out and meet people, you can hunt folks down on the internet or at the courthouse, eventually, you'll need to get in front of them sooner or later.

Letters work for some but I never used mail for advertising anything.

John Mireles · Answer

When it comes to marketing with zero budget, you absolutely can't beat Facebook, Twitter and a regularly updated blog. The flip side is that though it doesn't cost you any money, you do have to invest time into it and it does take time for you to build your social network. Once you do though it becomes a pretty tough train to stop.

Phillip Dwyer · Answer

The best $65 dollars I have ever spent went towards a rear window decal in for my truck. I'm not a wholesaler, but I think it could work for that too.

Chris Feltus · Answer

Perry Apawu Thats a great question Perry. You still have options, but its going to require you to drive the subdivisions in your area. Before you begin to drive the area you should do a little bit of research. Find out what the median home price is in your area, and target subdivisions on the lower end. Take note of any vacant and or distressed properties. Better yet, bring a camera with you and take a picture of the property. If the subject property has any notes taped to the doors or windows take note, such as code violations.

Once you have finished driving the neighborhoods that fit your criteria you will need to research them on the tax roles. Take note if the property is absentee owner or owner occupied. If the latter, I typically will not send a marketing piece to them. Remove the property from your list if its Bank Owned.

After completing your research you can then reach out to the owner and see if they have any interest in selling.

Here is the template for the letter I use for this type of lead. I send it in a hand written invitation style envelope. It receives a very high response rate.

Kyle B. · Answer

Perry - I'm new to RE investing as well (and also from Chicago), so take my advise with a grain of salt, but I would try to hook up with an established wholesaler and offer to assist in their marketing efforts. It seems that successful investors are always looking to outsource these more repetitive tasks. Not only could you get paid for these efforts, but more importantly you could learn a whole lot about RE investing along the way.

However, it may be easier said than done to find an investor to work with. Will require a lot of networking.

Kyle

What do you do when you don't have money for marketing

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