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In this episode of Discount Property Investors David Dodge and Michael Slane tackle, how to start out in marketing. What are marketing strategies that you can utilize to establish a footing in Wholesaling? Different eye-opening ways of marketing that actually works to get leads and deals, check out the rest to learn 60 more ways.
Things that will cover in this episode:
- Marketing Mindset
- Ironic Secrets of Marketing
- Start out small and get good at it
- Pick one thing and do it consistently
- Ways of Marketing
- Bandit Signs
- Joint Venture
- Meetup Groups
- Social Media
SERVICES MENTIONED IN THIS EPISODE:
David: Hey, hey, hey, good morning everybody.
Mike: Good morning, good morning.
David: Mike, good morning.
Mike: Morning Dave, how are we?
David: I’m doing great, man. I’m doing great. I got sent out a message last night about the wholesaling real estate show and I basically just asked and this is in conjunction with discount property investor, this new show is actually going to be brought to you by discount property investor, but I asked everybody to send me some feedback on what they wanted this show to be about and what we could talk about in these new episodes of the podcast and I got a ton of feedback from everybody. I literally probably had 20 people send me a message via text or email about topics they wanted Mike and I to talk about, so today we’re going to jump in and talk about one of these topics and one of the questions that really stuck out which I think goes really well with the last episode of so you want to be a wholesaler, right? Is marketing strategy. You know, last episode, we talked a lot about this is the marketing business and if you want to get into wholesaling and do wholesaling to make money wholesaling deals, you have to understand that this isn’t an investing business per se when it comes to wholesaling, this is a marketing business. So, this episode is going to be about the marketing strategy or what strategy you should use because again, this is the marketing business. You have to have a strategy, you have to be doing some sort of marketing if you want to get deals.
Mike: And Dave it’s funny cuz this comes I think, second hand to you and I just because we’ve been doing this for so long and yeah, it just is what this business is to us. It’s become our primary focus is how we market and what marketing we’re doing and what we’re getting in place to generate more leads so that we can keep our business going. So, the question being what is your marketing strategy or what should my marketing strategy be? Our message I think is pretty simple, pretty straightforward, market.
David: Do something.
Mike: You have to do marketing.
David: Like, do something.
Mike: The question to me just represents the thought of well, I need to figure out what the right thing to do is first before doing anything. It’s that analysis paralysis of I don’t- and again, that may not be where this person is coming from, so I do not know that but it just feels like that to me, and the answer is do some marketing. If it doesn’t work, do some other marketing. If it doesn’t work, do some other marketing and keep doing more and more marketing, like that’s the whole story there.
David: It’s funny when people think like oh, this business isn’t working and they stop marketing. It’s like, that is the business, it’s marketing.
David: So, how are you going to imagine your business to grow if you stop doing the most essential thing that needs to be done?
Mike: It’s super hard though when you’re starting because- and Dave you’ve said this very well many times, is that marketing is an expense when you get started.
Mike: Like, it is an out of pocket expense, you are paying for the leads in either time or dollars. It is a real expense when you get started. Once you get rolling, it doesn’t feel as expensive or it doesn’t feel as much like an expense as it does an investment in your business because you’re able to use those closed deals, that money that you made from the previous marketing, you’re able to use that towards the next round of marketing.
Mike: So it is, I get it, it is an expense and it does cost and it does hurt when you have to write those checks, come out of pocket, investing in this new business of yours, but it is- it’s super super important to the success of this new endeavor. No matter what business you’re in, you’re in the business of marketing.
David: Yeah, don’t keep it a secret.
Mike: I say it, it’s super important, you have to market. Dave and I, we’re in so many businesses and we tell you about it all the time.
David: Hey guys, if you’re watching this right now, drop a comment with what kind of marketing you’re doing right now. I’m doing a live on this one as well but yeah, I mean if you are watching this and you don’t know Mike and I, and you don’t know that we buy houses for a living, something’s seriously wrong.
Mike: With our message, we’re not doing it well enough.
David: With our message, right, and that’s the point like, everybody knows that I buy houses, I’m posting it all over Facebook and Instagram and everywhere, right? Like the places that people are going to look because that’s my business, so keeping my business a secret will be like shooting myself in the foot. Don’t keep your business a secret. Jordan says direct mail, love it. So, let’s jump in to some of the types of marketing that we are doing. Now again, just to recap, wholesaling real estate, if you’re interested in that is a marketing business, it’s not an investing business. You are not an investor, sorry to say. You become an investor when you take some risk and you buy something to fix it up or you buy a property to rent out, that’s when you become an investor. You are in the marketing business when your wholesaling but here’s the beautiful thing about being in the marketing business versus being an investor: we can teach you how to do this and not need- not have a lot of money basically. You don’t have to buy deals to sell them, you use contracts to control them and that’s what is so amazing about wholesaling because I can go flip a house that cost 200 grand and literally have 10, 50, maybe 100 dollars total invested in the deal, but I’m controlling it with contracts and then I’m lining that up to close. So, that’s what’s so amazing about wholesaling real estate but again, this is a marketing business and you got to have a marketing strategy. Jordan said direct mail and we love sending direct mail, and I’m actually about to send 2500 pieces of mail later this week to a lot of driving for dollars that I’ve done recently because you know, those are some of the best leads from our experience Mike, those have been some of the biggest deals that we’ve done is from driving for dollars.
Mike: Yeah, no, when you generate your own list, it’s always big ones and I thought you were gonna say direct mail and in a roundabout way, it absolutely is but when you generate your own list driving for dollars, you find these properties that aren’t out there necessarily on a bunch of lists. You are one of the few people that is working that lead and that is just a huge advantage, so then yeah, it’s how you go about contacting that person next through multiple different ways, so you find this house then you got to track down the owner through skip tracing, through either cold calling, cold texting or direct mail or knocking on the door trying to find this person. You got to hunt them down.
David: That’s right, so guys there’s a lot of strategies, in fact, I have 50 different strategies pulled up in front of me right now and I can run through these really quickly but before I do, I want to talk about what Mike and I are doing in our own business literally today, right? This week, like some of the marketing that we are doing. So, we do a lot of driving for dollars which helps build lists, right? We also purchase lists, we use Propstream to purchase these lists and we can teach you how to do that, I have a ton of videos on YouTube, I know Mike does as well, about doing that, but we are either making our own lists or buying our lists, and that’s it, right? That would be one segment and that’s basically list dependent type of marketing. We also do some non-list dependent type of marketing which would be some radio advertisements. We also occasionally will do some bandit signs, which is non-list dependent marketing. So, radio and bandit signs, those are going out routinely basically, we’re trying to put these out the signs out monthly and/or keep these ads playing on the radio. It’s just a consistency thing. Let’s shift back over to our list dependent marketing, we’re driving for dollars and making our lists or we’re buying those lists, right? From there Mike you had mentioned that we like to skip trace those lists which basically just gives us a phone number and an email associated with the property owner. We can get the name of the owner off the tax records, right? But when we skip trace, it just pulls all that data in really quickly and then we have a list of motivated sellers that we now have a phone number and an email. Well, when we get that phone number, we’re going to cold call those people and we have some virtual assistants that help us do these day in and day out, cuz consistency is the name of the game. Mike, you know this, consistency is the name of the game so if you don’t have the time to do this, that’s okay, you need to have somebody in line who does. Partner with somebody or hire somebody who does. We then, so we skip trace, we cold call these individuals, we’ll even cold text these individuals, right? Until we can get them on the phone, occasionally we’ll even do email campaigns where we’ll just start emailing people, see if they have this property, see if our information’s right. If they do, if they want to sell that property and what am I missing? Cold calling, cold texting, radio, bandit signs, direct mail. We do direct mail from time to time.
Mike: Talking about our marketing?
David: Our marketing.
Mike: Yeah, that’s really-
David: We’re not as consistent with our direct mail but we do direct mail.
Mike: Yeah, and I think that’s really all we’ve got going right now.
David: Right now.
Mike: Yeah, but we’re not doing a lot of-
David: That’s actually quite a bit though Mike. That’s five or six things, and we teach people.
Mike: And that’s all we have going right now.
David: Right, five or six things, that’s not all- I mean, that’s a lot of things.
Mike: Well, that’s what I’m saying.
David: Yeah, it’s a lot.
Mike: That’s all? Right, I mean again, it’s not just one thing, you have to do two, three, four-
David: Every day there’s a cold caller hitting the phones, there’s a cold texter texting people. We’re out driving for dollars or we’re buying those lists, our radio ads are playing on two stations twice a day, so that’s four ads every day that’s driving phone calls to us and then we do bandit sign campaigns and some direct mail as well. So, that’s what we do in our business. Now, if you are listening or you’re watching this right now and you’re like holy cow, that’s great, I need to start doing that, all of that. That’s the wrong mindset, start with something small, pick one or two things that you want to do and start doing that cuz again, this is the marketing game so if you want to get in this game, you got to learn how to market, and what are we marketing for Mike.
David: That’s it.
Mike: We’re marketing for motivation. I mean that’s really, as simple as it is, we’re looking for people with houses that are motivated to sell them. So, that motivation comes in a couple different forms, right Dave? They’re either motivated to sell because of a situation that they are in or a situation that the property’s in. So, it’s either a distressed property or someone who has a property who basically needs money, like they are distressed in some way. Yeah, that’s pretty much it, that’s what we’re looking for.
David: That’s really all there is to it man, we’re looking for somebody that’s willing to trade their property for a discount in exchange for convenience, that’s it. Wholesalers provide liquidity to the market, that’s really all we do. So, you know when you look at the big picture, if somebody’s willing to give me a great deal on a piece of property, I’m gonna go above and beyond to make their life so incredibly easy, right? I’m going to go to them as needed, I’m going to not require a ton of time to close that deal, I’m gonna do it fast. I’m going to pay cash so I don’t have all these contingencies or waiting on the bank to make up their mind on what the hell is going on. So, cash, time, quickness and as is are going to be basically my three pieces of convenience. That’s it right? I’m gonna go quick, I’m going to pay cash and I’m going to make it really really easy for you. So, when we buy houses from people, most of the time we say you don’t need to clean it, you don’t need to fix it, you don’t need to update it, hell in fact, if you want to walk away from it in its current condition with all this shit inside of it, you can. No problem.
Mike: It is.
David: We’ll buy it like that.
Mike: It kind of, and again, I hate to use that terminology but it is the ugly house business. Like, we are buying houses that need work.
David: Most of the time.
Mike: 90% of the time.
David: 90%, right.
Mike: We’re buying houses that aren’t perfect, aren’t move-in-ready, but that’s what we want. That looks like money to me, that smells like money to me when the house is gross and stinks, that’s money right there. That is an opportunity for you to come in and help this person out of a situation.
David: That’s it, that’s exactly right guys. So, we’re in the marketing business, we’ve established that. Have a marketing strategy, what does that mean? Just do something, pick one thing, start with that, get good at it. You don’t need to have five or eight things going, you don’t need to be spending 8 to 10 grand a month on your marketing. Start with something small, ideally 1-2 thousand dollars though, you’re going to need to spend or time. It’s one of the other, you’re either going to spend money to get your phone to ring or you’re gonna have to put in a lot of time to get- to ring other people’s phones via calling and texting, right? Or go hanging bandit signs or whatever that might be to get in touch with other people. It’s really that simple though. You’re calling them or they’re calling you, period, right? So, the marketing strategy is just pick one little thing, start doing it, get good at it. Eventually, you can go to the second thing and you can outsource the first one or you can just do both.
Mike: Dave, I think you’re skipping over something that’s really really important. You’re saying it but not directly.
David: Let’s hear it.
Mike: And what you’re saying is pick one thing and do it, but do it consistently.
David: Yeah, that’s it.
Mike: You have to do it over and over and over and over and over again. If you go out and you make a hundred cold calls and you get told a hundred times no on day one and then you don’t go back and do it again next week or you don’t go back- that guy just keeps bobbling all over the place man, he’s staring at us because we keep bumping this table like we like to do. If you do that and you do not go back next week and call another hundred and then next week and call another hundred, you’re not going to get that one person that says hey, I actually do need your help. My house is falling apart and I can’t afford to pay the taxes this year. I’m going to lose it to auction so again, you’re not going to find that person. These people don’t put their hands up typically. They’re not the people that say hey help me, help me, hey Dave, I don’t know you from Adam, like walking by on the street, can you buy my house? Nobody’s going to do that, you have to find them. So again, you have to consistently take action with your marketing. So, that to me is what your marketing plan is. It’s to do the same thing over and over and over and over and over again until you get it to work. That’s how you become good at it, like Dave was saying. That’s how you get good at it, right? That’s how you master that marketing method and guess what? All these ways that we mentioned in our course, we’ll have the link below, they all work, it’s just a matter of whether or not you get that method to work. So, we had Jordan mentioned before that he does direct mail and direct mail’s working for him. That’s awesome, guess what? Direct mail works for us too. We do a little bit of it.
David: That’s a good point, everything works.
Mike: So again, everything works, it’s just how it works and what is effective, you know today, what’s working best today, what’s going to keep working? You know, again, it’s whatever method you’re able to implement and keep doing over and over and over and get working, that’s what’s going to work.
David: So, I was eating breakfast with the wife this morning and on the television there’s a ‘We Buy Ugly Houses’ commercial. It’s the home investors guys and you guys have seen their billboards everywhere, right?
Mike: Little caveman.
David: There’s no possible way that you have not seen those people’s marketing, right? And they’re in the same business that we’re in, they have chose to go with billboards and television, they also do some direct mail from time to time, right? So, that’s the thing, they’re getting people to call them and if that works, they can make a win-win and a deal gets done, right? So, that’s really it. There’s lots of ways, they’ve chosen television and billboards, Mike and I have chosen what we just explained to you, but we have a whole list of other things that we can do to find motivated sellers. I’m going to run through this list. Go ahead.
Mike: Let me talk real quick about home investors too guys, you wanna talk about putting your marketing methods on autopilot, that’s essentially what that company does for people. That’s a franchise opportunity, people buy into that.
David: Yeah, you’re not doing cold calling or cold texting because they’re spending a lot of money to get their phone ring.
Mike: So that would be one way to do marketing too.
David: Right, buy it.
Mike: Again, just buy into it, pay for marketing. So then, we’ve got tons of ways you can do marketing yourself if you don’t have the- and I don’t know what the franchise is now or even if they have opportunities in your market, but again, if you don’t have the $5,000 month to commit, guess what? That’s alright.
David: Or 20.
Mike: Or 10 or 20, whatever it is. Again, I’m not sure what they-
David: It depends.
Mike: How it works currently, but we got tons of ways to do it and there are tons of ways to do it, you’ve got tons of ways to do it. So Dave, you wanna chat about a couple of those?
David: Yeah, absolutely so you know, friends and family I think is the first way to go about you know, you spread your message, spread your- let everybody know what you do, right? I mean I get referrals, Mike gets referrals at least once a month from somebody that’s a friend of a friend of a friend, right? That has a property that they’re selling, their Grandma’s moving into a nursing home, it’s a second home or a rental property that’s been neglected for 5 to 10 years, and you know a lot of times people are embarrassed to go list these properties. Not necessarily embarrassed, but you know, it’s one of these things where it’s not going to sell on the listed market on the on the MLS, they’re going to need to do some updates to get top dollar, it’s going to take a long time and really they’re just motivated to just be done with it and they’re willing to take a discounted offer in exchange for a shit ton of convenience, which is what we offer which is awesome. So, friends and family I would say is the first place to start that’s free, that just takes a little bit of time. I do it every day, all day by just posting on Instagram and Facebook that I’m buying houses, send me your leads, right? So that’s one easy way. Another easy way is to find wholesalers, right? Like Mike and I, if you want to be a wholesaler, great, but some people may be watching this right now that don’t want to do the marketing, right? They don’t want to do the marketing, they just want to buy flips, they just want to buy rentals and then rather be okay paying that wholesale fee and they’d rather just do it so find all the wholesalers in your area.
Mike: Heck, we do it.
David: We do it.
Mike: We buy from other wholesalers all the time.
David: Yeah, we do, right.
Mike: We buy from the MLS.
David: We buy from wholesalers and wholesale.
David: Deals just come across our desk, they look great so.
Mike: We buy from the MLS too because again, if you’re not trying to wholesale it, you can buy at a good price and it still makes sense. So again, wholesaling, you’re just trying to buy at an even better price so it’s very very important to get direct to that seller.
David: Love it, love it. So, that’s wholesalers. Next will be bird dogs, guys. This is just people that again, this is just acquaintances, right? We have a ton of bird dogs, which basically is a lot of agents, friends, family. People know that if they bring me a deal, I’m typically going to pay them between 500 and 2 thousand dollars for just introducing me to that individual. I love paying people for leads because they bring more leads, it reciprocates, right? So if you know a lot of real estate agents, start talking to them, tell them hey bring me a deal, I’ll pay you, if you know, have people that are in a trade for example, like lets say you know some contractors, talk to those people, turn them into bird dogs. Tell them hey, I’m looking for good deals when you’re out giving bids on properties, I went floating this weekend with my buddy Eric and he sells commercial blinds, not commercial, residential blinds but on a big scale, right? And I was like, man how often are you going into houses where people are putting blinds in to sell it and he was like all the time, and I’m like hey not that I want you to not sell them blinds but if they don’t like your quote cuz it’s going to be too high, let them- let me have that contact, I’ll call them they don’t have to spend another dollar and we can go buy that property, right? So, turn everybody you know into a bird dog. I love that. Let’s see here, host your own meetup group is another one, right? Go to real estate groups, go to REIA’s and meet other people. Again, this is just a networking thing, if there’s not one in your area, host your own. Property management companies, Mike, this is the first couple deals that I did 5, 6 years ago when I went full time in this business were networking with property management companies. I called all the ones in my area, I say hey, I’m Dave, I own some properties, I may want to have you rent these out but I’m looking to buy more and how easy would it be if you had a client or customer that was- that you’re already managing it for, right? and they wanted to sell, you can sell it to me and I’ll keep you as the manager, assuming I keep it but I typically wholesale them, right? but just talking to these people, call them, reach out. Property management companies are already dealing with properties and of course sometimes from time to time, you got really bad tenants in a property and they destroy it and the owner may or may not want to do the repairs, right? Another thing that’s in line with property management companies is title companies, and this doesn’t cost a thing to network with the property management company or a title company. This is free.
Mike: Yeah, we’ve- so, our title company is title experts.
David: We get once a month. Once a month we get a lead or a deal.
Mike: Dave is really good at that, is talking to them saying hey, I uh- if any of you deals don’t close for whatever reason or fall apart, let me know, I’ll buy it.
David: I get a- I get a call or a text from a title company probably once a month and they just say hey, we had a property that was at the closing table today, the buyer didn’t show up because of something and the seller is motivated and I’ll typically say what was the price? and are they willing to take a little less than that and often times they are just to get it to done. In their mind it was sold, it was closed, right? So, if they’re gonna sell that property for 65 grand, right? and I can say well, I’ll give you 55 but I didn’t even want this property, I just- I don’t need it but I’d be willing to buy it at 50 cents on a dollar.
Mike: Well, what’s so neat- if you think about the mindset, this person was planning on getting this property sold, off the books, planning on canceling all the utilities. They’ve probably made all these calls to the insurance agent, saying hey cancel insurance.
David: Hopefully, get some money back.
Mike: Exactly, they’re planning on getting some money out of it and then all of a sudden it doesn’t happen, so then Dave steps in, the title company says hey I got a guy who might be able to buy it. Dave steps in and says, oh, okay you were selling it for 65, I see that, I see the address. Could you take 50 grand for it and I’ll close it in two or three days like how huge is that? How helpful is that? Now, they’re bummed because again, there’s maybe a little bit less money in their pocket but how huge is it that they don’t have to go through that whole process again. I mean, you’re talking about, it’s probably been under contract for weeks because the title company has to do all the research on it. They have to set all these things up, they have to research the seller, make sure there’s no additional liens, all sorts of things. Dave’s able to step in and buy it like that is a huge service to these people, so very very cool way to get leads, you have to be able to act quickly typically on those but again we are- we’re able to buy properties like you said, probably once a month he gets a lead, we’re able to buy those you know, 50% of the time, at even more of a discount. So, obviously then we’re gonna go do our due diligence, figure out the deal, yada yada yada, but again, it’s a great way to market. Dave, are you wanting to go through all these or do you wanna-
David: Yeah, lets just go fast.
Mike: Okay, cool.
David: I mean essentially, so like hard money lenders, another person that’s in the business, they’re dealing with properties. They may be willing to lend on a property and then it gets to the closing table and something falls apart. The buyer can’t get approved, but you have a deal now, right? So, we could deal some hard money lenders. I got one sent to me over the weekend from a good buddy of mine. Professional services, right, tradesman, inspectors, restoration companies, I mean all these different people that are in the field, essentially turn them into bird dogs, right? Door knocking and post-it notes, if I’m out looking at a property or two and I drive by a really really bad one, I’m going to take notes on it and send it back to my team to skip trace that property owner and call them but I may also pull over and leave a little hangy note on the door knob or even a post-it note saying hey, I want to buy your house call me. I mean literally we get deals from that. Direct mail, that’s very targeted, you also have every door direct mail, right? So, direct mail, you have to have your own list and then you send mail, it’s very simple. Every Door Direct is a USPS service that says hey pick a mail route, so you can actually find certain neighborhoods and everybody on that entire route will get a postcard or a letter or whatever you want to add. It’s a little cheaper to do that however, you’re limited to a mail route, so there may be parts of that route you don’t really like. Bandit signs, we mentioned bandit sign on wheels, another great marketing approach, right? Put the stickers on the back of your car windows or other people’s. Yard signs at your own properties. If you have a property under contract, put a for sale sign on it or say- or a We Buy Houses sign and next to the for sale sign. Get more leads from people, from those signs in those yards.
Mike: We gotta start doing that again.
David: I know.
Mike: We used to do it on every single one of our properties, we just- you get lazy, you forget these things.
David: Cold calling and dialers, we’ve mention that. Joint venture and investor partnering, I’d say 20% of our deals are joint ventures with other wholesalers or other investors, you know, somebody may not be able to have a buyer for a deal, we have it or vice versa. We come together, we get deals done that way. We mentioned REIA clubs, we mentioned mass media which was television, radio, billboards for the most part, buses and bus stops and benches is another form. You guys have all seen these, every bus stop, every bench, it has an advertisement on it, alright great place to put a sign. It’s basically a bandit sign but it’s paid and it’s not going away, right? Probate attorneys, divorce attorneys, eviction attorneys guys, if you are not- if light bulbs are not just opening up and going off in your head right now, this is crazy. So, we get deals from probate attorneys, divorce attorneys, eviction attorneys, even estate sales, right? Network with these people. Mike and I have done mailers in the past to divorce attorneys, specifically with a list of houses on and we say if any of these clients of yours are interested in selling, we can make it really easy like, we can give them money in 2 weeks, right? Same thing with divorce, probate, all the above. Contacting the actual attorney is just one approach, you can also contact the seller directly but often when you go through the attorney, it doesn’t look weird like you’re trying to go to them, they can just basically get a referral and get paid. It’s a win-win. State sales, I mentioned. HOA neighborhood associations, right? This is a great place, there’s a lot of places where the HOA’s aren’t being collected so you can contact those HOA’s and you can say hey who owes you two, three, four five grand for the last 4 years of not paying HOA’s? You know, let me contact that individual or put me in contact, I can help you get caught up on these HOA’s by buying this property, create a win for everybody, so many things. Bank take backs, so REO’s, local business advertising, that’d be something like on a shopping cart at your local grocery store. You got the money mailers and the coupon books. You have overlooked properties that fall out of contract that could be your own or that could be other properties that you get from title companies, right? I’m flying here. You got the Facebook Marketplace, you can find deals there. You got Craigslist, you have mass text blasting and voicemail drops to expired listings, these are people that want to sell their property already but for whatever reason it didn’t sell, maybe they’re asking too much or it needs too many repairs, doesn’t matter, contact these people, right? Expired listings is huge. Send a Christmas card to everybody you know, your entire contact list, that just says again, I buy houses guys, Happy Christmas- Merry Christmas, Happy New Year, you know anybody that’s looking to sell, call your boy, right? Very simple. Social media bots, I’ve done some of that, retargeting campaigns, pay-per-click, website SEO, right? These are all things that are more online, they’re going to take time and/or money to pay somebody to do these things and maybe a little slower, pay-per-click not so much but SEO, however these things are going to pay dividends in the future big time, right? You can do YouTube commercials to drive traffic to a landing page. You can Google search for open record requests, right? This would be request of properties that are open that you know, haven’t closed or tax auctions, there’s pre and post-tax auctions and then there’s the foreclosure auctions. So, there’s three different types of auctions right here that you can go. You can figure out how they do it in your local county or city, and you come up with a strategy to start bidding on these properties and you can win them at those auctions, right? You can start marketing to the pre-foreclosure lists. These are ones that are a couple months back on their payments, but they haven’t actually been foreclosed on yet. The bank’s basically warning them though, catch up or we’re going to foreclose on you, and Mike and I have gotten tons of deals this way. For people that say I got 30 days, 60 days to pay the mortgage or I’m going to get foreclosed on and we go in and we say well, you got 40 grand worth of equity so why don’t you keep 20 of it, but give us 20 to get a discount on the property and you can walk with 20 grand versus zero grand when the bank takes the property from you, great ways to go about marketing guys. Automated triggers, this is like IFTTT, how many T’s does it have? And this is basically things that you can set up to ping you when somebody makes a Craigslist ad, even a Facebook ad for a particular property in a particular zip code, that’s a whole rabbit hole within itself, but it works. We’ve gotten lots of leads and deals that way. You have Facebook groups, LinkedIn groups, groups on any social media platform that you know, like the buy sell trades. Those are my favorites, go in there and just say hey Kirkwood, hey Webster, you know I’m an investor looking to buy a house, you know, does anybody want to buy sell trade a house, you know, you get leads that way, right? We mentioned the professional services of tradesmen, inspectors, restoration companies, I mean I’m basically giving you guys about 60, maybe 70 different ways to go about marketing.
Mike: And I’m going to interrupt Dave.
David: I need to take a breath.
Mike: Yeah, stop. Too much Dave. So overall, the question that we’re really trying to answer though is the marketing strategy or what is a good marketing strategy? We said it at the beginning, I’ll say it again, it’s: pick one of these ways that Dave talked about. Pick two or three of them actually, cuz some of them are relatively simple, so pick a couple of them and go back and do them over and over and over again.
David: Yeah, they all work.
Mike: Just implement the strategy, pick one.
David: There’s not really a better marketing strategy. I mean, here’s the thing, some of them are going to require zero time and 100% money, others are going to require a 100% time and no money, most are going to fall in the middle where they’re going to require some money and some time, so depending on how much time and/or money you have, you can then pick what marketing method you want and I think the main point to wrap this entire episode up is don’t over complicate it, they all work, just pick one, start doing it. Don’t worry about well, how do I make the offers or how do I estimate the repairs? You can learn all that as you go and we’re going to be here to teach you.
Mike: That’s one of the sayings that I like too is like money finds good deals. So, what does that mean? It means if you go out there and you find- you start marketing and you find a good deal, money will find you . You will find a way to get that deal closed and make money on it. Get out there, start marketing, I love it.
David: That’s it guys, just get out there, start marketing, pick one of these and just do that and that’s it. That’s the marketing strategy when it comes to wholesaling real estate. Thanks for listening.
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