Determine Your Resources

Let’s Look At:

  • Big vs Small Marketing Budget
  • The Magic Number To Closing A Deal
  • Closing A Deal With No Money
  • Decide on your commitment

No matter which marketing path you take for your real estate investing business, you are either going to need to invest ….

  • Time and energy
  • Money and management of your investment
  • OR both

I want to reiterate here, this is not a “set it and forget it” type of business.

Big vs. Small Marketing Budget

To get started on your journey of deciding on your resource commitment, it will help to have a baseline of what to expect from your marketing and where you should start based on your available budget.

The following article will help you get in the mindset of being able to make the connection between what you invest and what you get in return or your ROI (return on investment)… whether that’s time or money.

To get a solid understanding of how your budget plays a role in where to start –  Please read the following article

Big vs. Small Marketing Budget: What Marketing Should You Focus On As A Real Estate Investor?

The Magic Number To Closing A Deal

Now that you have a better understanding of which strategies will work best based on your budget, and where you can best spend those dollars…

Let’s look at a very important budgeting formula that we use when planning our various marketing strategies.

4 Step Marketing Budget Formula: The Magic Number You NEED To Invest To Close A Deal

Closing A Deal With No Money

Even if you have zero budget to work with, there are strategies for you.

The wolf of wall street probably said it best, “Pick up the phone and dial.

If you don’t have a budget and you need to close a deal, you’re going to have to put in the time to make it happen.

There are several strategies you can use to get started with…

  • Cold Calling
  • Driving for Dollars
  • Door knocking
  • Highly targeted direct mail

We actually put together a 90 day plan for the novice investor with no budget if you want to take a look at one potential strategy.

Some of our most successful members started with one of those strategies and have built their sites and their businesses into multi million dollar companies.

They put in the grind to make it happen.

Decide on your commitment

Okay, so you have an idea which strategies you can start with and implement in your business. Now it’s time to put pen to paper and make the commitment of what you’re willing to invest in yourself and your business over the next 90 days.

So download your commitment worksheet here.

The first decision you want to make is…

1. What’s my goal

What is my goal over the next 90 days. – This document will go hand & hand with your 90 day plan we will work on a bit down the road.

This could be…

  • Close on my first deal
  • Get a deal a month
  • Implement my first Adwords campaign, etc.
  • Patch up my online presence

2. How much time am I willing to commit to achieving that goal?

1 hour a week, 5 hours a week, 10? 40?

Decide how committed you are to achieving your goals and what that means to you time wise.

Once you write down the number of hours you want to spend, let’s make a few decisions about what you’re going to do with that time. Here are a few suggestions

Novice investors

  • Cold calling
  • Learning how the process works
  • Building my SEO foundation
  • Driving for dollars
  • Door knocking

Intermediate investors

  • Research adword management companies
  • Learn how to set up an adwords account
  • Cold calling

Pro Investors

  • Creating a position agreement
  • Hiring a new marketing assistant

3. How much money am I willing to commit to achieving that goal?

Next let’s decide how much money you’re willing to commit on a monthly basis. Keep in mind the formula from the article above.

How much are you will to spend for one deal, two deals, etc.

Decide on the number you’re willing to commit and fill in your form.

Next, decide where you’re going to invest that.

  • Hiring an SEO consultant
  • Google Adwords
  • Facebook Advertising
  • An assistant

4. Make it real!

Sign and date your commitment!