When it comes to real estate investing, like any other business, it is important to have a full arsenal of marketing channels.
Having just once source of leads when you are flipping houses is just too unreliable. The truth is that no matter how good one lead source is for real estate investing companies today, all types of marketing are cyclical. One channel may perform better than others for a few months and then then fall off while another out performs it. There are too many factors that are involved in any one single type of campaign to be relied on for consistent volume. Just like investing in anything else it is wise to spread your real estate investing and marketing eggs across multiple baskets. On top of this many forms of advertising really only reach maximum effectiveness once they have been going for a couple months and remain consistent.
So whether you are dealing with HUD homes or pre-foreclosures, having several types of marketing can secure your success. Commit to several advertising campaigns for the long term and regularly add in new ones to expand your reach. Give everyone at least a few months to prove it’s worth. Then cycle out those that are not working and replace them with campaigns that provide the maximum ROI for your real estate investing business.
At the same time, you must avoid spreading yourself too thin. There are hundreds if not thousands of flipping houses books and marketing tips out there insisting that you must use the specific methods they are promoting or the newest social media network. However, the bottom line is that you could end up spending all of your time just checking out new marketing ideas and get so distracted going in different directions that none may work. Focus on honing one marketing channel for your real estate investing business at a time, hone it, create a system and budget a sustainable amount for it for the long term and put it on auto pilot so you can get on to the next.
