Real estate investors are slammed with tasks when they get started and frequently bombarded by activities they must engage in to grow their businesses. This unfortunately often means making rash decisions, especially when it comes to marketing and hiring.
Marketing can be one of the most challenging aspects of real estate investing. Investors are hammered by pitches with all sorts of channels, media and strategies they ‘should’ be using. These often come in the form of slick websites or sales people with even slicker pitches that just seem to make so much sense in the moment. Unfortunately sales people like real estate investors are also often easily sold.
There are endless marketing ideas that could work but before jumping on a new one take a real look at the numbers. What are others really achieving in terms of results with these campaigns? What are the guarantees? What is the real ROI when everything is factored in? There are dozens of types of marketing which work for real estate investing but if you are going to beat out your competitors you have to demand the absolute best return, not just a return.
The same goes for hiring especially when hiring marketing related staff. Do you want to gamble on cheap staff because they are cheap and risk paying double or more to fix it later or is it smarter to spend a little more and get quality team members for sure from the beginning? Whether local or outsourced staff there can be a big difference in paper boasts and actual performance. Hire on results. Take into consideration history as well as current feedback and ask to see what tangible results a provider has achieved for others before hiring. Even Yahoo’s CEO just got fired after being caught lying about having a degree.