How to make a real estate investment marketing plan
If you are a real estate investor and want to clinch a few lucrative deals, then you will have to evolve and put in place a sound real estate investment marketing plan. If you are haphazardly advertising and running after some real estate investment deals in an unplanned way, you will not succeed in seeing big profits in the tricky real estate business.
You definitely need a real estate investment marketing plan to be continuously successful in the real estate business. It is rather unfortunate that there are so many who enter real estate investing but without ant marketing plans and sales projections. It is only a small percentage of real estate investors who have real estate investment marketing plan to achieve success.
The real estate investment marketing plan must be very specific with time-bound targets. Putting your real estate marketing plan on paper will help you to review progress and apply necessary correctives when things go wrong. One of the advantages of having a real estate marketing plan is that it will help you delegate to others less important work and create time for you to play a more productive role and concentrate on key result areas to help overall success of the business. Many professionals opine that when you have a real estate investment marketing plan, you will notice the business goals are attained much faster.
Any successful real estate professional in today’s computer age will have to fully exploit all advantages the Internet offers. Real estate investment plan must include web presence to reach a huge buying audience. There are several web designers to advise about what you need to do with a website, how to set it up, what type of content required to draw visitors and increase search engine results. There is also ample scope for augmenting real estate business through online social networking sites.
Here are some useful tips that should form part of the real estate investment marketing plan:
1. Buy houses below full market value- taking pains to identify sellers who sell homes for less than the home’s full value. The successful real estate investor learns how to spot financially distressed home owners who have no choice but to sell for less than market value. The reasons may be many – loss of employment, sudden transfer of job, marriage breaks-down and divorce, unforeseen emergency expenses etc.
2. There are other motivated sellers of real estate and you have to hunt for them! One real estate investment marketing plan that is simple and yet very effective – door to door sales. With door to door prospecting you will buy and sell more homes quicker than any other method.
3. After identifying a motivated seller, you must imaginatively frame offers that provide benefits for both you and for the home seller. A good real estate investor quickly learns that there is a way impress on the motivated seller. The home owner is obviously in a tight spot and you can save him from a lot of embarrassment and, in most cases, give him at least a little cash to get a new start. You must use creative techniques like, leases, option and taking over mortgage payments.
4. You should be vigilant and watch out for public notices for the announcement of foreclosure sales. Meeting with a home owner right after they have received a notice, will provide you the opportunity to deal with a very motivated seller. Other public notices that provide buying opportunities include probate, divorce and bankruptcy. You can follow the Homes for Sale listings both in your local newspapers as well as the Internet site.
5. Never make a purchase hurriedly till you have carefully determined exactly how you will sell to realize the projected profits. If you plan holding it as a long term investment, calculate if the monthly rental income is enough to cover the monthly mortgage payment. Think over if you can do some renovation and sell the property for a much higher value.