Months ago I saw a post on a Copywriters Group on Facebook, I was a part of, asking about an old ad.
They posted an image of an old 1800’s ad of some kind of weird looking hat that can grow hair back.
The OP asked, “Do you think this ad would work today?”
In which, I answered, “did it work back then?”
This type of question is strictly tactics based. I won’t go into when it wouldn’t work and when it would, that’s not important here.
What’s important is how this reminds of how REI operators are infatuated with what others are doing on Facebook.
… What tactics they are doing
… what their response rates are.
… what their mailing rates are
That type of thinking will hurt you, and even cost you $20k. Like it did for me.
Because real estate is a HIGHLY local market. Prices are highly local. Desirability and motivation and situations are local.
Who cares what someones response rates on text-blasting are in the Midwest when you’re in the highly populated west coast and there 1,000,000 more people in your town, and 10 times more investors.
Or what templates they’re are using.
If you listen to long-time investors/wholesalers, they don’t care about that minute stuff.
The teach principles of investing and marketing.
They observe their market, they gather data, they look at inventory, and/or they look at what lists they can build and what motivated sellers (or assets) to target.
Then they take action and tweak from there.
That’s all principle based. The tactics of how to reach, communicate, and perform come after
I interviewed a 25-year investor (soon to be published) who doesn’t think about the tactics. He observes markets nationally, looks at metrics and indicators, and when he’s ready to launch into a new market he looks at the competition level, where most of the discounted sales are coming from (are they actually on the MLS), and then goes from there. Tactics come second to SEEING what the “waters” are like.
I’m not saying this is how you should do.
Some investors operate much simpler than this, asking themselves, “Where can I get the best ROI?”
But in either case, that’s why I’m big proponent of learning principles over tactics.
… Principles of marketing especially.
Once you learn in it, you create your own tactics
But, in REI forums it has “dumbed” down to bell-and-whistle tools/app for lead gen, or someone else’s cold-call script, or techniques for how to send text-blasts (which is illegal in the way wholesalers are doing it and cost a few thousands per text).
Well, I’ll reserve the principles of marketing for the Deal Magnet Newsletter once it launches…
If you have a crowded market AND you have mobile home parks in your back yard….
You might want to consider my eBook that gives you an introduction for building a cash-flow stream with mobile homes.
Yes there are tactics in it.
But the principle of shifting over to a less crowded market, is called a “Blue Ocean” and shifting my investing strategy meant night-and-day for my success and ease of reaching motivated sellers
You can see it here:
However, know that I’m not the go-to expert on these, I’ve done a handful of them and cataloged my adventures in it.
I shared what I discovered, and knowledge of others, and partners, and friends flipping with me, into a small introductory book on how to get started in mobile home flipping and create a few hundred dollars of income a month like I did (not professing millions, or retirement… although many people I look up to in this business have achieved those goals in that asset)
“Keep moving forward in your REI venture”
Paul do Campo
I’ve spent many hours learning and implementing marketing methods in REI, chasing sellers, and building cash flow streams… and I show you what works and what doesn’t from real-world investors in the trenches today through my daily tips, articles, and audio interviews at www.realestateaudios.com
Call or text if you need anything: 909-614-9473
6939 Schaefer ave Ste D #254
Chino California 91710
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