A website is a “must” for any serious real estate investor. People are savvy these days, and they’re quick to “google” your name and dig for information, including reviews. Having a website where sellers can learn more about the process is very beneficial and will indeed generate leads.
The biggest challenge with a website, though, is getting (organically) indexed on the first page of Search Engines. This was easy to do several years ago, now it takes alot of time, patience and constant updating of your website with new content.
The other option for your website to is to pay to be shown on the first page using Google Ads. This can get expensive, as well, especially if you’re not familiar with how to manage a Google Ad Campaign, and how much you should be paying for clicks, etc. I’m hearing that the cost to close a deal from Google Ads right now is $2,000 – $3,000. Much higher than the cost of direct mail.
If you’re going to implement the use of a website for sellers, use it as a brochure website, where they can go for information about the process of doing business with you. Make it a home for your testimonials. Have plenty of opportunities for your visitors to leave their information, so that it also serves as a lead generation mechanism.
There’s not much to say about this. People are freaky weird and who wants to go door knocking like a magazine salesman? How much is your time worth only to get the door slammed in your face? I’d rather not.
I can’t think of a better way to get super frustrated and rip your hair out than by sitting on the phone cold calling “For Sale by Owners” from Craigslist. There’s no way to filter out who these people are. They’re just a bunch of random people who have a house for sale. They aren’t your best candidates. Imagine how many no’s you have to get before you get a POSSIBLE motivated seller. My brain hurts just thinking about it. This is not a viable solution for anyone who is serious in this business.
At one point, I made $86,000 in profit from Bandit Signs. I was very consistent with the weekly placement of the signs. That is, until the whole Bandit Sign Scandal incident. They’re very high maintenance, and sometimes only last for 15 minutes before they’re headed to the dumpster. Not to mention they can cause you some monetary fines from code enforcement if you’re not REALLY careful.
I do like Bandit Signs for lead generation, as long as you’re tracking your results and can prove that the signs are responsible for a good ROI (Return on investment). The downside is that they’re alot to maintain, hard to manage the placement, and aren’t really targeting any specific person. They’re a sort of “shotgun” marketing, hoping that the right person drives by and sees it. Bandit signs are a good supplemental marketing campaign.
Good for giving out your phone number.Waste of money for lead generation. You’d have to give out 10,000 business cards each month to make a difference, which would mean you’d need to actually see that many people in person. That could lead you to drink.
Another form of very expensive shotgun marketing, and better left to big box companies. The messages on billboards are meant for the general population. We work in a specific niche, with a specific type of person. Our marketing should be targeted directly for them with a message that hits home.
I’ve listed several methods of marketing that you could use to generate motivated seller leads. That is, if you really don’t want to use direct mail as your preferred method. I can assure you, though, that after a few months of using 1, 2 3 or even all of the methods that I’ve listed here, you’ll revert back to direct mail.
There’s no better way to generate a TARGETED seller lead, with very little effort, at a very low cost. Direct mail is a method that can easily be outsourced and scaled to a massive level without raping you of your valuable time.
So the answer is clear. Yes, you can be a successful wholesaler without doing any direct mail, but it won’t be very enjoyable. You’ll be ripping hairs out, drinking yourself crazy, and wishing you were dead. All in a valiant effort to get a deal. Is it worth it?