If you are a real estate investor, and you are still searching your town for the best deals, you need to ask yourself a question: Are you haphazardly advertising, just hoping that the real estate investment deal will fall your way or are you aggressively looking for a deal and working on making that happen?
You definitely need a system to make sure that you are continuously successful in this business. If you don’t have a game plan that is well thought out, you may just find yourself failing like 95% of the other so-called investors.
It’s sad that there are so many people who try real estate investing but don’t want to put the time in planning what they want their business to look like in 5, or even 10, years. From my experience, only about 1% of all real estate investors have some sort of business or marketing plan that improves their chances for success. Please don’t underestimate the power of having a marketing plan for real estate investing.
When you begin your marketing plan, you need to make sure that you have a solidified result on paper… a result with a date. This marketing plan must be very specific. It should outline everything that you need to accomplish within the next 30 to 60 days and beyond that. Putting your marketing plan on paper will allow you to have an aerial view of your business.
One of the best benefits of having a marketing plan is that it shows you what types of activities need to delegate to others in order for you to play a more integral part in the overall success of the business. You should not be stuck with doing activities that you can pay someone $6 per hour to do. Your focus needs to be set on activities that you, and only you, can do.
It is often said that work expands to the time allotted. When you have a marketing plan and you set certain deadlines, you will notice that you will complete your goals much faster. So, make sure that your marketing plan has timeframes and deadlines that you can work with. Having a marketing plan with no deadlines is just like having a wish that never comes true.
All in all, your marketing plan will give you a concrete way of running a business so that everything that happens in your business will be purposefully achieved, and not by accident.