[Jackie Lange]

Jackie Lange

During the CashFlowDepot Convention, all our speakers shared what marketing is working best for them. ( BTW, we are still working on getting all the videos and audios ready so you can see the Convention if you were not there)

One of the speakers at the Convention spends about $20,000 a month in marketing and does about $100,000 a month in profits. It is a good return on your investment. He has found that large newspaper ads work best to get leads coming in.

But not everyone can afford to spend $20,000 in marketing – at least not when you are starting out. And even those who can afford to spend that kind of money prefer to NOT spend money on marketing.

Another speaker does the same $100,000 to $200,000 a month in income but spends ZERO $ on marketing. Instead he has a lot of bird dogs who refer deals to him and he talks to all the real estate agents in his area who also refer deals to him. It is more labor intensive but saves $20,000 a month in marketing.

Anther speaker spends about $1000 a month in marketing and nets about $50,000 to $100,000 a month in income. She does very very targeted marketing to maximize her marketing dollars.

Which one is better? It depends on how much time and money you have to spend. If you have more time than money, you can go with recruiting bird dogs and talking to real estate agents. If you have less time to spend, you may need to let advertising like postcards, newspaper ads, etc do the work for you.

There is not a right or wrong answer.

But one thing for sure, you need to do something to get leads coming in. Without leads, you can’t do any deals.

I like to create a marketing calendar that lists the things I will do every day or every week to get more leads. It could be getting the code violation list then sending postcards. Or it could be running ads every day on craigslist to recruit bird dogs.

I like to devote at least one day a week to cruising the FSBO ads and craigslist ads for potential opportunity. The cost is nothing. It almost always results in a deal or two.

I don’t think I ever spent more than $500 a month on marketing!

I recently found an ad from what sounded like a motivated seller in Panama City. When I contacted her, she dropped the price $70,000 in 2 minutes. The seller is desperate for cash for her business in Holland, so a seller finance offer will probably not work. But getting an Option then doing a Highest Bidder Sale would work. You have to match your offer to the SELLER’S needs, not your own.

What marketing strategy works best for you? What is your monthly marketing budget?