March 3, 2017 in Investing In Real Estate
One of the most common complaints today is that it’s hard to find good deals. No matter where you are located the complaint is still the same.
If what you’re currently doing isn’t working as well as what you would like, you have to do something different. Let’s take a look at some ways you can find good deals.
1. Look Somewhere Different
Where are you looking for deals? Are you looking in the same place everyone else is looking? It’s tough in most areas if your only source of deals is the MLS, Craig’s List and other online sites that have a lot of competition.
If you focus on off market deals you will have much less competition.
Investors marketing to probates are likely to complain that sellers tell them they got 10 or 12 direct mail pieces about their house. Compare that to the MLS which has thousands of people looking at those properties and you will immediately see the difference in the level of competition.
I have found it’s much easier to find good deals when you focus on off market deals like probates, absentee owners, tired landlords etc.
2. Create a Marketing Plan and Implement It
You cannot have just one way of getting deals. I recommend that you have 3 to 5 lead channels (or marketing strategies) that you are using to find good deals at any one time. You don’t want to put all your eggs in one basket, so you need multiple lead channels in case one dries up.
As much as I like direct mail (and I think everyone should do direct mail), you should also have other ways of getting leads in the door. Remember – you need 3 to 5 lead channels.
Once you have your marketing plan in place, set aside the time to implement your plan.
3. Learn to Network like a Pro
This simply takes time and practice. Remember, this is work so schedule a few events each month and go to them. Become a “regular” at these meetings.
Once you get there move around the room, introduce yourself to strangers and reconnect with people you met previously. Your goal is for folks to remember you. Networking is a great way to find good deals, but people have to know what you do. The next time someone has a property to sell, you want them to think about you (rather than your competitor).
Here are some places you might want to network:
- Your local REIA
- Meetup groups
- Real estate auctions
- The Commissioner’s Sale
- A non REI group like BNA, NAWBO, or the Chamber of Commerce
- Neighborhood groups
4. Change Things Up; Do Something Different
Here are a few suggestions for you:
- Narrow your criteria on your direct mail lists, but add additional lists
- Create a custom postcard with your branding on it
- Think of different ways you can use content marketing to grow your business and your brand
- Send out non-traditional mail pieces like a newsletter with homeowner tips every quarter
- Create a “leave behind” marketing piece for sellers
5. Really Focus on your Website for the Next 12 Months
You goal should be to become the “go to” person for real estate information and resources in your area. Take time to really brand your website. Having some professional photos taken for your site, will really set you apart from everyone else in your area. Be sure to have an “about me” video on there so folks can get to know you.
6. Make Videos
This is really important.
Video is the #1 thing that will set you apart from your competition, build your brand, and make other people remember you. Commit to making one video a week. You will have a nice number of authority videos one year from today.
There are so many things you can do to set yourself apart from the competition. I encourage you to think outside the box and be different.
If you want to schedule a 1 on 1 call with me to talk about specific strategies for building your brand and creating more effective marketing for your business, you do that here by clicking this link.
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