A Year in Review by Justin Bone
As 2019 approaches, I looked back over our 2018 marketing to see if I could draw any conclusions on what went right and what went wrong. Unfortunately, we’ve never spent so much on marketing pieces and received so few deals. I’ve talked to different investors and this seems to be the trend. It’s simply just harder to get deals. I suspect that this has a lot to do with the fact that there are more investors marketing now than there was in the past. When we receive inbound calls, the seller will usually comment on the number f marketing pieces they’ve received in addition to ours over that past few months. So its easy for our marketing pieces to get lost in the stack.
Going forward, we are going to start focusing on differentiating ourselves from other investors mail pieces. Because we market in different states, its harder for us to physically go on appointments. To date, we’ve mostly negotiated and purchased houses without ever seeing the property. We would, of course, send contractors, inspectors or realtors to the property to verify the condition of the house, but usually we will purchase without physically meeting our seller in person. In 2019, we will go to houses and negotiate face to face. We feel that this will help us close more deals in 2019.
The second change we will make in 2019 is the fundamental format of our marketing piece. To date, we’ve sent a piece that simply addresses the seller’s needs, but doesn’t give much (if any) information about who we are. We hope that by adding our website address, photos of ourselves, and any other personal touches will make sellers feel more comfortable working with us, subsequently increasing our deal flow.
Real estate investing seems to be an ever-changing industry and we are constantly learning as we go along. What worked in 2018 will hopefully continue to work in 2019, and what we’ve changed for the new year will hopefully be the right changes.
Justin began his real estate career in early 2015 when he and his brother Brad purchased their first SFR investment property in Bakersfield. Since then, Justin has helped PrimeBuyers grow into a solid real estate investment company with a focus on buying property at below market values. Justin fo See more >>
Justin began his real estate career in early 2015 when he and his brother Brad purchased their first SFR investment property in Bakersfield. Since then, Justin has helped PrimeBuyers grow into a solid real estate investment company with a focus on buying property at below market values. Justin focuses primarily on the financial aspects of the company: finding new sources of funds from lenders, managing the company’s financials and working with tax advisers. He is married to Layne Bone and has 2 small boys. See less >>