Marketing is What We Do
From Craig Fuhr, The Fix & Flip Artiste …
Webster’s defines the word ‘mantra’ as: A statement or slogan repeated frequently.
If I had a mantra, it would be, “I am a real estate marketer.”
I know this may seem a bit crazy coming from a guy who has made his money over the past 10 years investing in real estate, but have I really been investing?
Webster’s defines ‘investing’ as: To expend money with the expectation of achieving a profit or material result by putting it into financial schemes, shares, or property, or by using it to develop a commercial venture.
Does that sound like the investing you do?
Well, if you’re a landlord, maybe.
If you’re landlord, you take a pile of your money, then leverage it with other people’s money, then you buy a bunch of houses and you keep them for an extended period of time. Hopefully over that time, your rents exceed the mortgages and you get cash flow, and if the market rises you get appreciation.
This is not at all unlike buying stocks, but instead of cash flow and appreciation, with stocks you get, dividends and rising stock prices.
If though, you agree with the definition – how does that sound anything like a wholesaling model or a fix & flip model? I guess we could bastardize the definition a bit, and insert the words, “expending time,” for,” expending money.”
But I don’t wanna mess with Webster’s. Heck, I’m a public school boy – I can’t make definitions!
Making marketing work for your investing.
While we’re at it, let’s look at another definition…
Webster’s defines ‘marketing’ as: The action or business of promoting and selling products or services, including market research and advertising.
Hmmm… I don’t know what you do for your business, but that sounds a lot like MY business!
Think about it…
To be successful in the business of real estate, we start out by doing market research. We look for hot neighborhoods or cities where we see spreads in wholesale prices vs. resale prices. We look for investor activity in those areas.
Then what do we do? We carpet bomb the heck out of that area telling everybody what we do. That’s called advertising, people!
If you are a wholesaler or fix & flipper, the success of your business is a direct result of the offers you are making.
If you’re not making offers – you ain’t making money. Period.
It is therefore your sole job to fill a pipeline with motivated sellers to whom you can make many offers. (Yea, that’s some damn good grammar for a public school boy.)
Well, I could rattle on about what wholesaling or rehabbing, but for now… just know, IT’S MARKETING! Your job is marketing.
And in my next installment, I’ll even go a bit deeper.
We’d love to hear your thoughts. Chime in. If you have any questions, I’d love to hear them, too!
P.S. Need a mentor?