There are endless forms of marketing for real estate investing, however those new to the business almost always overlook the single most important thing they can do to get off to the right start. In fact this simple and affordable marketing initiative separates those that succeed at real estate investing and those that struggle.
What is it? Simply tapping into the power of your sphere of influence. The principal is that everyone knows at least 250 people, and each of those people know 250 others and so on. Think about it, even one level deep, that is personal referrals to 62,500 prospects for almost nothing. Before the recent advances in technology and social media the best way to do this was to kick off your marketing by sending out announcements to everyone you know to tell them about your new real estate investing venture. Often this included mailing business cards or refrigerator magnets as well as following up with a phone call.
Today this can be done even more cost effectively by utilizing social media. In fact it can be basically done for free. However this does not make it any less powerful or important. Still you must make sure that they get the message, understand how you can help them and help you pass on the word by letting others know what you do. This means more than just saying that you are now opening a real estate investing business. Make sure to let them know what that means, how you can help and who they should be referring to you. Ensure that they refer anyone to you who is interested in selling their homes, is interested in buying or renting a new one or who is just interested in investing themselves.