All Forum Posts by: Elio L.

@Antonio Coleman

Nice website btw

@Jay Hinrichs

 That's a very good point... I do this full time and currently send and receive about 50 calls per day (speaking with buyers, sellers, agents, title companies, attorneys ect). I think that if we staggered the post card mail dates (i.e. 6250 per week) and got a .005% response rate, it should level out to an additional 4-5 calls per day. I think I can manage, and if not I'll get one of my partners here in the office to help out. 

@Antonio Coleman

I like this... I got a PM from someone earlier who recommended spending $8,000 on direct mail, and $2,000 on marketing online. The South FL real estate market is extremely competitive right now and I think we'd need more than $2,000/month to be competitive. I'm thinking that the $2,000 allocated to online marketing would be better spent marketing for cash investors to sell properties to than for sellers. 

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

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!

@Jerry Puckett, @Michael Quarles

I'm going to keep this simple. 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?

Are you talking about $20,00/mo or $20,000 in total? 

I'd go with Wayne on this one and sue for specific performance.  I've also heard of buyers down here filing Lis Pendens' against sellers who back out at closing. I don't know how true that is but it may be worth your time to look into it. 

A notice of interest may be more feasible being that you've actually spent money here and have documentation to go along with it. 

With $1,000, I'd keep my direct mail in house if possible... Unless you're sending out post cards. 

Like @Antonio Coleman says, keep your expenses as low as possible. $200 on a full fledged crm to start out with may be a bit much. We are still using Podio which is free. 

Having a website isn't a necessity... talking to potential sellers is. It's highly unlikely that you'd be generating any motivated seller leads online with a minimal budget. If I were you, I'd create a site for credibilitys sake but only at a minimal cost.  I'd invest your funds on marketing to potential sellers through direct mail or other avenues. 

By the way, door knocking also works very well here and doesn't cost a thing. You'd have to sharpen up your sales skills though, it's not for the faint of heart. 

The most important thing here is that you stay consistent with whatever marketing it is that you're doing. 

I absolutely agree... I've found that it's especially true for our industry being that so much of our success hinges on the relationships we forge with our colleagues.