Let’s get right to it. I’m asked a lot how much money is needed to get started in wholesaling houses. My response to that is it varies depending on a couple things, but one of the most important expenses you need to account for is marketing. As I’ve said before, good marketing will take you a long way in this business. You also need to do a decent amount of marketing to be really effective and develop an efficient, almost automated system of bring the deals to you.
Real Estate Marketing Strategy: Money vs. Time, Which Is Right For You?
I won’t sugarcoat it, marketing can be expensive. In fact, I have an entire team of people working with me just to help out with the marketing aspect of the business. However, if you’re just starting out and don’t have the resources available to hire a team of marketers and assistants, DO NOT let that deter you from entering the property wholesaling business. You can still run an effective marketing campaign with very little money so long as you have the time to put into it.
Before we get to the video, let’s take a look at some of your options depending on whether you want to invest more money or time into your marketing plan:
Expensive Real Estate Marketing Options (More Money, Less Time)
- Direct Mail (This is the marketing option I use most in my business).
- Pay Per Click (Google, Paid online advertising)
Inexpensive To Free Real Estate Marketing Options (More Time, Less Money)
- Driving for dollars
- Finding deals in the MLS
- Bandit signs
- Networking & referrals
- Ad posting (Craigslist, etc…)
How Do I Do So Many Deals?
I use a combination of the marketing options I listed above and generally spend, on average, $2500 to get a single deal done. If that gave you a bit of sticker shock, keep in mind I’m making a six figure income on a monthly basis. For my business, investing that much into marketing is an excellent return on my investment.
To that end, you don’t need to spend that much in the beginning. Let’s take a look at the video to see the marketing system I use, so you can take what you’ve learned and develop a market.
As I mentioned in the video, I’m giving away a free video training called “29 Ways To Find Motivated Sellers Right Now”. Here’s a link where you can watch the training at no cost. I highly recommend it as a supplement to the points we touched on today. At NO COST TO YOU, what do you have to lose? WATCH THE FREE TRAINING NOW.
To YOUR Success,