How Much Marketing Money Needed To Start Wholesaling Houses?
How much money do aspiring real estate investors really need to have to kick start their wholesaling marketing and start doing deals?
There is really no question that no money down real estate deals are still doable in this market, especially when it comes to wholesaling houses. But what about wholesaling marketing for finding deals to begin with?
One of the criticisms of some of today’s most notable real estate investment gurus has not been about the quality of the information provided, or any doubt about being able to use the systems provided to flip houses with little to no money down, but little detail on how much startup capital is required for marketing for those first deals and other miscellaneous set up costs. So what’s the deal?
Most would suggest that it’s perfectly possible to start with a virtually non-existent wholesaling marketing budget and build up. Of course it can sometimes help if you have a significant amount of startup capital but that isn’t always true. Those with significant savings or access to funding can find putting their money to work in real estate is one of the best moves that they can make. However, in some cases it can be counterproductive; leading individuals to fail to be demanding enough of their time and resources and to drop the ball on innovation, only to realize an inferior ROI to those that are seriously bootstrapping.
So how much do you really need to get started, where should you be willing to splurge, where can you save, and how much do the top performers really spend on their marketing?
One area in which no real estate investor can afford to skimp on is their education. If you go cheap here, your entire financial future and returns will be equally inferior. Want top results? Get a good real estate investment program.
There are some other startup and set up expenses wholesalers frequently spring for when getting going such as company formation, brand identity materials and new tech devices and software. These can be optional at the very beginning, but the sooner incorporated the better. If you don’t have them money now, get them on the to-do list and always reinvest in business building from profits.
When it comes to wholesaling marketing making a big splash at the start can be beneficial, and wisely invested marketing dollars can help to fuel growth quickly. Still, there are plenty of free and low cost methods of marketing from handwritten letters to sellers to Craigslist ads to word of mouth and professional networking. Of course those at the top of the game think nothing of spending a $100,000 a month on channels they know that work either. But taking your time to build up as you build out your systems and teams is smart too.
As you go, constantly test, diversify your wholesaling marketing channels and always look for opportunities to maximize ROI through leveraging others.
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