One of the most frequent questions those new to real estate investing ask is how much they should be spending on marketing their business.
It is true that there are now many ways to market your real estate investing business inexpensively on the Internet. However a good real estate education course should also help you prepare a realistic and effective marketing plan and budget. Marketing is essential for flipping houses. Without making a plan for marketing your real estate investing activities you cannot expect to succeed.
You don’t need a giant marketing budget to successfully flip homes. In fact you can do quite a bit yourself for free online. However in the long run you do need to commit a percentage of your proceeds each month to regular marketing to free yourself up for more critical areas of expanding your real estate investing empire.
Risking sounding like a broken record, although it cannot really be repeated too much – the most important thing to keep in mind when coming up with a marketing budget for real estate investing is keeping it consistent. It takes an average of 7 ‘touches’ to close a deal or convert a new prospect. So there is no use in going crazy the first couple of weeks and running out of steam just before you hit the big time.
Don’t be fooled by some of the ads and websites you come across guaranteeing 1st place Google rankings or leads that sound just too good to be true. Talk to others at your local real estate investing club or invest in an up to date real estate education course that can give you a better insight into what really works and what kinds of returns you can really expect. There are infinite ways to market your real estate investing enterprise. Most of these can produce leads and profits. However it is about what is going to provide you the maximum ROI on your marketing budget.