Okay, I’m answering a question for you today that I get asked ALL the time. It’s a tough one, too…
One of my podcast listeners asked:
“I have only $1,000 left in my budget for marketing. How should I spend it?”
So, it’s tough, but I LOVE this question. Because it got me thinking.
See, there’s no real answer… because there’s no magic formula for this… no magical postcard or letter… there’s no guarantee here.
But, I do have some ideas and strategies that I think are helpful:
- Spread out the marketing (and the money) over 2 or 3 months.
- Focus on only 1 market and 1 strategy at first.
Okay, I’ll make that tangible…
- With ⅓ of the marketing budget, mail yellow letters to expired listings, rentals on Zillow, code violations, evictions, tax delinquent, divorce—specialty, small targeted lists.
- Send out 30–40 text messages a day to landlord and FSBO ads on Craigslist. BTW—that’s free, folks.
- Start networking with other investors… wholesalers with dead leads. Tell them that you’ll take their dead leads and work them… if a deal comes out of it, you’ll split the profits with them. That’s a great source for deals!
- Send emails every day to old and expired listings on the MLS and ask the Realtor if their client would consider seller financing or a lease option.
- Put bandit signs out.
- Put yellow sticky notes on front doors.
Look, if you’re short on cash for marketing, you have to think outside the box and get creative.
Remember, your success is proportionate to the number of offers you’re making.
Make 5 offers a day, no matter what marketing you’re doing and no matter what market you’re in.
If you want this bad enough, you’ll do what you need to do to make it happen.