In the past couple of blog posts, I've started talking about the single most important element in my real estate business – one of the key things that I believe has helped me achieve the status of The DM. (Make sure you've read my previous two blog posts on the topic: Don't bother investing if you don't have this and A shocking truth about my real estate investing business).
The key thing was that I dug my well before I was thirsty, and I did that by building a list of people – especially buyers – with whom I could make deals. I focused on building this before I put my first property under contract (guess what: I still make this a priority each and every day – it's a must!).
Today, thanks to this list, I can be The DM even when I'm traveling the world. This list is my key to being a virtual real estate investor.
With this list, you are about as legally close to printing your own money as is possible
It's this list that allows me to be a virtual real estate investor and travel all over the world because these people are the foundation of every deal I make.
Many of you have been asking me, "Hey DM, we get that your list of people is important... but HOW do you build it?"
I hinted at that in an earlier blog post and I'm going to start answering that now... but you should know that there is so much to say that I can't possibly cover it in one blog post... or even ten!
Here is how I build my list
In the beginning, I try to keep it really easy. I don't recommend getting too complicated with too many channels too early.
A great starting point I love using is bandit signs. This is great way to build a list. You put up a sign and you drive them to a website or to call a phone number. From there, you capture the right information and – BAM – they're on your list.
Now that you have a list, you might use a second channel (i.e. emails) to build the relationship, or better yet use something called autoresponders – it's a way to set up many emails to deploy at determined times automatically. (It's my favorite because once you set it, you can forget it because the system follows up and emails the prospects automatically.)
So you add people to your list with signs and then you maintain the relationship with emails. Easy! (Note: There are plenty of other things you can do instead of bandit signs or emails. Maybe you want to use Craigslist or a local newspaper to get leads and then maybe you want to use voice broadcasts or post cards to maintain the relationship. Different things will work for different people... I'll tell you my preference, though, is to start with bandit signs and online advertising such as craigslist.
Once you set up a really simple system of bandit signs and emails, then you can branch out into other methods of building your list. Try different things, test their effectiveness, and keep the best stuff.
Remember it’s all about TEST, TEST, TEST!!!
I make it sound really simple... because it is simple. Unfortunately, too many real estate investors try to make it too complicated by doing too many things and not testing their effectiveness.
I have just a few simple rules to help you as you build your list
- Start off simply. I've given you my favorite way. Don't try to reinvent the wheel, try it yourself.
- Master the first simple methods and then add to them slowly.
- Test everything.
- Automate as much as possible.
- Build your list and, when possible, focus on a list of buyers.
- As you nurture your relationship with your list, add value. Make yourself so valuable to your list that they open every email you send, they read it, and they act on it. This is so easy to do and requires you to do NONE of the work. We’ll talk more about this shortly.
- Do it. Act now. Don't hesitate. Don't overthink it. Too many aspiring real estate investors remain "aspiring" (and never become actual investors) because they know what to do… they just don't do it. (I'm going to rant about this in an upcoming blog. Be warned!)
- Be relentless. Once you've started, don't stop. Push yourself to keep going. (Note: There's a blog post on this coming up).
Take your list building to the next level by hearing from the experts
As you can tell, I have a lot to say about list building! In fact, I'm so focused on helping people build their lists that I wrote a book with the famous Guerrilla Marketing guru himself, Jay Conrad Levinson, creator of Guerrilla Marketing – the #1 brand on marketing – with over 65 million copies sold and counting!
Check it out for yourself and get the full scoop here:
There's something else you need to know about list building and how to do it effectively. It involves segmenting the list. I'll tell you more about it in the next blog post and I'll talk about why I focus on building a list of buyers.
Signing out from Palm Beach, Florida
Your Guerrilla Marketing, List-building, Money-printing Friend and Mentor,
Mark Evans DM,DN