The Top 3 Marketing Mistakes Made By The Average Real Estate Investor

Posted by admin | Posted in Finance News | Posted on 25-01-2010

I have been a marketer for 20+ years so it’s no surprise I say that marketing is the key ingredient in the success of a business. The truth is you will go broke without a marketing campaign that generates highly qualified leads. For some reason this fact is lost on most investors… which is why so many fail. Here are 3 of the biggest marketing mistakes I see people making in their wholesale real estate business. Don’t do them.

Mistake #1: Wanting to do everything themselves – Let’s face it. Your time is valuable. Even more than profits! If you are spending your time by putting up bandit signs or knocking on doors you are not properly leveraging your time. For tedious jobs like this it is best to outsource the work so you can focus on what is important to your business. Too many newbie investors want to do everything themselves. This is noble, but it’s foolish. Why not pay someone part time $6 or $8 per hour to do the grunt work and you can turn your attention to the actions that make you real money. Work smarter, not harder.

Mistake #2: Allowing failure to discourage – Many new investors just throw in the towel when something doesn’t go right. Smart investors look at what went wrong and take immediate steps to correct it. Then they try again and test the results. Success, just like marketing, is a constant tweaking of your results. Did you mail to an unresponsive list? Should have you mailed a letter rather than did a classified ad? Look at the possible reasons for your lack of results, make the changes and give it another shot. Then track your results. Always live by the rule that you can never fail if you learn something valuable that you can use next time.

Mistake #3: Being afraid to take risks – This one is HUGE. The bottom line is that marketing and real estate in general is a calculated risk. Sometimes you win and win big. Other times not. But staying educated and making smart decisions minimizes the risk and should bring your more successes than failures. Be confident in yourself, take calculated risks and be ready to keep your chin up if it doesn’t work out the way you planned. Remember… batting .300 gets you in the Hall of Fame.

These three mistakes are important to avoid in your wholesale real estate business. It’s not rocket science but something few people ever really understand fully.

If this sounds like the system for you, please visit Michael Kimble’s daily blog at Wholesale Real Estate blog to get started! Michael is currently giving away his 4 best marketing systems that bring in Wholesale Real Estate deals.

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