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Wholesaling Tips: How Many Leads Needed To Make $1 Million In 2014 & Where To Get Them…

by blogger1
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on Thursday, 18 July 2013
BestTransactionFunding

How many leads do real estate wholesalers need to make $1 million in 2014, and where should they be prospecting for them?

What do the latest real estate industry stats show about closing and conversion rates? How many leads will you need, what are some of the best ways to generate them, and how soon do you need to start loading your pipeline to close your target number of deals in 2014?

If you haven’t tweaked your business and marketing plan this is your chance to hash out the numbers quick and make the necessary adjustments.

This works just as well whether your income goals from flipping houses in 2014 are just $100k or $10 million or more. For arguments sake, we’ll use $1 million as an example, as it’s easily scalable.

If your average profits on wholesaling a house is 10%, based upon an average home price of $200k, to make $1 million next year you’ll need to close 50 deals.

That’s not a big number, but obviously not every lead equals a deal. According to a Market Leader calculator, and based upon and average lead to close rate of 2.5% (current reported average among real estate agents), you’ll need to roll into 2014 with 2,000 leads already in your pipeline and start generating 364 leads a month.

Again, this doesn’t have to be too difficult, but where do you start? Market Leader suggests looking for a monthly mix of:

• Craigslist leads: 157
• Referral leads: 15
• Social media leads: 41
• Paid leads: 151

Of course you won’t want to overlook other online marketing either and need to continue to work the long game with branding and SEO to be constantly be reducing marketing costs and increasing conversions rates.

In fact peeking into the online marketing Market Leader does itself, and used to attract the recent $355 million sales price to Trulia you may also want to include press releases, social and a lot of blogging. In the wake of Google’s new SEO update look for guest blogging opportunities, consider Facebook promoted posts and make sure you keep links diversified.

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Marketing Funds From Your Transactional Lender?

by blogger1
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on Tuesday, 23 August 2011
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You have no doubt already found your transactional lender invaluable when it comes to flipping houses quickly with minimal risk and for maximum profits, but can they help you with your marketing expenses too?

If you are serious about real estate investing, regardless of whether you are flipping a few houses a month with funding from your transactional lender or you are focus mainly on buy and hold you probably have a good amount of marketing going on. This may include direct mail, telemarketing, display advertising, your website, a blog, PPC advertising and social media marketing. Whatever you are doing, it can certainly add up, but obviously you can’t expect to be flipping a significant number of homes each month without some type of advertising.

So how can you off set your marketing costs or tap into additional money so that you can expand on what you are doing?

One of the easiest ways to add to your income every month is through referral partner or affiliate programs. This is especially true if your real estate investing enterprise does a lot of online marketing. You can easily monetize your blog and website and even social media by allowing or running affiliate ads. This pays you a commission for every visitor who clicks on an add or buys something from a partner. This can be done through PPC with Google Adwords, affiliate directories and networks like Clickbank or Commission Junction or by hand selecting complimentary services.

If you haven’t asked your transactional lender yet they may have a referral program too. You probably run into other investors and buyers everyday who could use a transactional lender and who would be really grateful for the referral. So why not get paid for it? You could be making up to 10% of the fees your transactional lender makes on their transactions. It doesn’t take a genius to see that this could quickly build up to quite a nice marketing budget every month!

Come back next week to find out how to make even more from referral networks...

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