Wholesaling Strategy: Growth Hacking for More Volume
We are in the perfect market for wholesaling homes. The question is how can you ramp up your deal volume fast enough to fully capitalize on the investment and profit opportunities in front of you?
While everything may be cyclical, we have likely never seen conditions aligned this well for wholesaling homes as a real estate investment strategy and most investors will never see this amount of opportunity again in their lifetimes.
Homes are still available at tasty discounts even in the hottest and most prestigious real estate markets. While interest rates may be rising, they are still at ridiculous lows, and now buyers are swarming in with masses of capital, ready to scoop up everything being served up by wholesalers.
So with all of this and peak summer home buying season on us, how can investors tweak their wholesaling strategy and model in order to take full advantage of all the deals out there?
While even relatively green investors might already be enjoying breaking personal income records by wholesaling just a few homes a month, many still find they are short on all of the liquid funds, marketing skills and time they would like to turn more houses. So what’s the solution?
One of the current buzzwords being floated out of Silicon Valley is ‘Growth Hacking’. By applying growth hacking principals to wholesaling strategy and marketing efforts investors can explode their businesses and see their deal volume swell fast.
While technology may certainly a part of what is involved in most growth hacking today it is essentially guerrilla marketing on steroids.
However, the first step to any marketing or improvement in wholesaling marketing is certainly getting to know your prospects better. The better you know your prospects the better your marketing will convert, the better your ROI will be and the faster you can increase deal volume.
Putting it into play many gurus and experienced growth hackers point to blogging, self-created press releases and paid search (like Google Adwords) as channels to pursue.
These are all good, but what really makes the difference and separates the amateurs and mediocre results from the top pros is who is being marketed too. The top level experts recognize that it’s a lot of work, time consuming and expensive to market directly to consumers themselves. Instead they choose to recruit influencers, affiliates and other referral agents to do the hard work for them.
Social media is a great medium for this. These referral partners can be incentivized for delivering web traffic, actual leads or for turning in actual transactions. When legal they can be rewarded with cash or even simply reciprocal marketing.
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