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

The biggest thing I tell people investing in real estate is that marketing IS this business. It is the lifeblood of your business. You will not make money without solid, consistent marketing campaigns bringing you qualified leads. Period. But unfortunately a lot of people have no clue how to effectively market themselves. I see a handful of mistakes being made over and over again so I thought I would talk about a few of them. Here are the three mistakes I see people making that you need to avoid:

Mistake #1: Not leveraging your time – Time is money! If you are spending it by putting out bandit signs or door-knocking you are not properly leveraging your efforts. You should be outsourcing jobs like this so you can turn your attention to the details of your business that matter. Many investors want to do everything themselves. Why not pay someone a few bucks do the tedious work so you can turn your attention to the things that make you money. Your time is your most valuable asset.

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: Not willing to take risks – This one is very prominent with new investors. But you can never fully escape risk in real estate (or anything else if you think about it). Sometimes your efforts are a homerun. Other times you fall on your face. But staying abreast of what marketing methods are working for others and making intelligent calculated risks will be the keys to your success. Remember… You can’t hit homeruns if you never take a swing.

If you just pay attention to these three mistakes that most investors make, you will be light years ahead of a lot of people who crash and burn trying to successfully wholesale real estate.

If you want to learn more about real estate investing and “The REI Lifestyle,” please visit Wholesale Real Estate, then visit Michael Kimble’s blog at Wholesale Real Estate blog.