This week was all about marketing! I really ramped up our email marketing to potential clients and we received great feedback because of it. I spent several days this week talking to new clients, potential partners for products that will additionally help our clients, and even received conversions from just one email. It really goes to show, if you put yourself out there to the right people and your product is a solution for their needs, you’ll see results!
Monday April 11th – Sunday April 17th, 2016
Monday (3 hours)
- Created several email campaigns for the month of April for our due diligence services, Note Investing Club and Tape Techs.
Tuesday (2 hours)
- Received a new tape for our VA’s ta Tape Techs to research for a client.
- Talked to a new client about our services.
- Answered emails responding to our initial email about our services. We received a ton of positive feedback!
- Resubmitted an offer that was previously declined but still on the market. – Still declined, the seller is looking for an unrealistic offer (in the 70% of CMV range).
- Submitted a new offer on a property in Ocala.
Wednesday (1 Hour)
- Emailed Vendors about our current deals – we’re in the process of getting a new tenant into our rental, and working out a modification hopefully with a borrower. We’re still waiting on their paperwork, which is putting a major hold on their verification.
- Received a very late payment from a borrower that is in a forbearance plan. Our servicing company contacted them, and made it very clear if we do not receive payments on the 1st of the month from here on out, we will move forward with Foreclosure or offer a DIL. We’ll see if we get payment on the 1st of the next month.
Thursday (2 hours)
- Talked to a potential partner for new services to offer our clients after they move forward with the formal due diligence and their bid is accepted
- Talked to two new clients that had questions about our services and
- Received a new tape from a client to be scrubbed!
- Uploaded Invoices to Evernote for our bookkeeper to reconcile.
Friday – Saturday (Days off)
*We did receive another tape from a client to be scrubbed by our VA’s at Tape Techs.
Sunday (1 hour)
- Wrote this post.
Total Profit This Week : $382.59
Number of New Sellers Called: 0
Number of Deals Offered: 2
Number of Deals Accepted: 0
Marketing is a HUGE factor in business success, but is often an area of weakness for business owners. They feel if their an expert in their field, they don’t need to be an expert at marketing. That couldn’t be farther from the truth, especially when it comes to marketing yourself. It is absolutely essential to put yourself out there to 1) find deals, and 2) raise private money to buy those deals. I recently taught a class on Note Investing for my local REIA, where a newer investor asked me “How do you get the money to buy these deals? I don’t know anyone who has money”. I responded with, “Yes you do, you just haven’t given them a reason to let you know they have money!” I’m a very young investor, at 25, most of my friends are just getting started in their careers or finishing their masters/doctorate degrees. For most young 20 something’s that means most aren’t making a ton of money right out of the gate, it’s likely they still have a lot of college debt, or they’re simply NOT thinking about retirement planning or investing right now. It’d be easy for me to say none of my friends have money to invest or are interested in investing but that would be wrong and simply not true.
After I got over the “no one I know has money” idea, and put myself out there by promoting the deals I was doing, and opportunity for others to make great returns I was surprised by how many of my friends (young friends) reached out to me showing interest in investing with our company! I also don’t shy away from telling everyone I know about what I do! I put myself in places that I feel people who could benefit from working with our company would hang out. Sometimes that means going out of my comfort zone but it also means I’m growing my network of new potential investors. I’m proud of my company, and the opportunities we create and any time I feel it could benefit a person by knowing more about it, I happily let them know how they can get in on the action to. It doesn’t mean they bite the first time, like anything, relationships are key here and take time. Continue to build report, show your experience and knowledge, and grow your relationships. Here are some ways you can do this:
- Create a newsletter with GOOD content and deliver this newsletter to people who are interested or could potentially be interested in your services.
- Create a Blog (again with GOOD, usable content) to show knowledge and expertise.
- Case Studies – Nothing speaks better than past successful deals (especially when they’re visually appealing).
- Have a Professional Business Executive Summary to give to interested Investors.
- Post about what your doing on your PERSONAL Facebook & Business Facebook page.
The bottom line to raising private money is to put yourself out there consistently, professionally, and in new, relevant places.