Prior to the pandemic and the subsequent run on property values, real estate marketing strategies consisted of a Zillow/Realtor/Redfin/MLS search. Since then, obvious home run real estate deals don't fall off the MLS anymore. With property values soaring and limited supply relative to demand, investors can no longer cherry pick deals from Zillow or Realtor.com. BRRRR method deals, famous for creating a repeatable process to quickly build wealth, have lost some appeal to investors who rely on those sites for finding deals. Because homes have more competition, its more difficult to buy a property at a steep enough discount to recover ALL of your initial capital. This means leaving more money in a deal, slowing the repeatability velocity.
The answer: Market for unlisted deals. If you've got resilience and a good pitch, keep the deal machine working.
Consider partnering with a Pennsylvania private money lender who can help you close fast; reach out to us so we can fund your next deal and preserve your capital.
Digital Marketing Strategies for Real Estate
Topping the list of investor marketing strategies that work today, you need to be marketing digitally. Driving potential sellers to a landing page in order to retarget or collect information for further marketing should top of your list of digital marketing strategies. To take the biggest advantage of these strategies, start with a website and set up an email marketing campaign. Drive leads from social media to your website or landing page, collect their information, and continue marketing to them. Rarely, does the first impression convert when it comes to digital marketing. In fact, its common that someone needs to see your brand 3-5 times before they can build trust.
Social Media
There are several platforms, but they aren't the same. Tiktok and Youtube are great for driving traffic to a website, but it lacks the capability to consistently bring motivated sellers. TikTok's algorithm puts your content in front of many people, but it could be from people all over the world. When it comes to marketing in your geographic area, you need location specific marketing strategies that can hone in to specific area, down to the zip code. For this there is Facebook and Instagram. These platforms are great because they allow you to target very specific audiences (like skip tracing a pre foreclosure list and building a "like" audience). To do this type of marketing will require and advertising budget, but its considerably less that running ads on Google.
Physical Marketing Strategies For Real Estate
Yard (Bandit) Signs
One of the OG's in real estate marketing, yard signs on high traffic street corners work well in low to median income neighborhoods. It's straight forward; grab their attention, leave your number and a call to action. Make sure it stands out. Try various colors and sizes to see which produces the largest call volume.
Direct Mail
Mailers. Letters. Cards. Whatever your flavor, direct mail still remains one of the best ways to market if you've got a good list, which isn't hard to find. Check out my other article on lists. If you create a separate phone number or email, you can easily track performance. Make sure it stands out from all the other mail your target receives.
Outreach Marketing Strategies for Real Estate
As with most any business, success comes from who you know, not what you know. If you lack time or money for marketing, try one of these strategies to bring more leads into your real estate business.
Networking with Realtors
Didn't I just start this article saying no good deals are found on the MLS? The truth is, there will always be deals on the MLS. You just won't spot them from a mile away. Often these deals simply don't make it to the MLS, or they are scooped up in hours. The ones that don't make it to the MLS are called pocket listings. These are often sold to investors in that realtors network. Become part of their network. Become part of as many realtor networks as you can. Then, even if a deal hits the MLS, you may already have a heads up on it. If flipping is your exit strategy, negotiate with that realtor two represent you as the buyer and then as the seller after your renovations are complete.
Networking with Other Investors
If your marketing budget is minimal in time or money, find other investors to network with, especially wholesalers. Building good relationships with them could lead to a steady stream of deals. The downside...adding a middle man adds a markup.
Scouring for Deals
Let's face it. Covid-19 made life difficult for many residents, and many are still struggling. Many landlords are still dealing with residents who are unable to stay current, or with those who feel like they want to stick it to landlords. For some, especially small time or near retirement age investors, dealing with these problems has become too much. They put little effort into updating or taking quality listing photo's, in hopes of getting it to market faster. Find these listings on Craigslist, Facebook, Zillow, etc. Reach out to the owner and ask if they are willing to sell you their property. They may sell at a discount just for taking the problem off their hands.
If you've tried all of these, which one's work or don't work well for you? If you haven't, try one of these strategies! And if you get it under contract, let's have a conversation about funding if you don't already have funding in place.
If you're looking for funds for your next project, feel free to contact us at 484-706-9601 or visit www.wingspreadlending.com/borrowers
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