Most real estate schools and real estate education courses simply focus on the law and technical side of real estate transactions and investing. The better real estate investing education programs may provide advertising tips and strategies, though regardless of how current their marketing advice is, unless you know who your ideal customer really is you will never be able to maximize your ROI and reach your full potential as a real estate investor.
Of course you are probably just happy if anyone shows some interest in one of the homes you are flipping, and of course you do not want to turn away any buyers. Though what we are talking about here is knowing your ideal customer so that you know the best ways to market to them and can improve the effectiveness of your marketing message. Your ideal customers are the people most likely to buy your homes and often for the best price, so these are the ones you will want to target.
Start by deciding how you would describe the perfect customer for your real estate investing business in a perfect world. Then build out an entire profile. Include age, income, credit rating, liquid assets, geographic location and even personal interests. For example if you are flipping houses in SW Florida this may be; men and women between 35-75 years old who have an annual income of over $80,000 and at least a 700 credit score, or have over $350,000 in cash to invest or buy with. Going further perhaps your best customers will love golf or fishing and either live in the area or visit every year during the winter/ spring season.
This now gives you are very specific target for marketing your real estate investing business. All you have to do is figure out where and how these ideal customers shop. You already know where they will be each year, where they frequent and what they are most passionate about so drafting the right message that converts them into buyers should now be a breeze.
