Flip Tip Summary
Congrats, you just made a bunch of money on a real estate deal! Now what? Too many real estate investors get caught up in the ‘transaction mentality’, where they’re living deal to deal. To be successful, you much continually reinvest your profits back into the business, so your leads and deals never stop. Jimmy Tu and Christy-Ann Olivares tell us more in this FlipNerd.com VIP Flip Tip!
Flip Tip Transcript:
Mike: Hey, everybody. It’s Mike Hambright from FlipNerd.com, and we have a quick VIP Flip Tip to share with you from Jimmy [inaudible 0:00:05] and Christie Anne Olivares of the San Francisco Bay area Rhea. They’re going to share how to re-invest in your real estate business, to consistently generate leads and grow your business.
Jimmy: I’d like to share a quick tip for a lot of you newer or seasoned guys. It’s really just re-investing; making it a rule at least, to re-invest 15% of any net profits for many of your deals back into marketing. As most of you guys know, marketing is the life blood of our business. Your phone’s not ringing? You don’t have a business? So, I know how easy it could be to work on a deal and really get caught up in it, and stop focusing on your marketing machine.
So, what I’d like to tell you guys is, “Don’t, don’t, don’t do that.” Make sure you always have your marketing machine going at all times; whether it be having a VA, having a team member, but it constantly has to go. So, whether it be direct mail or whether it be your online sources — Google AdWords, Banner Signs, any marketing that you have out there, it has to continuously flow. So, this way, you don’t get caught up focusing on one or two, three or four deals that you’re working on. You’re marketing machines can be continuously moving. We make it a point to always re-invest 15% into that with every deal you close. This is will guarantee that you’ll have a consistent lead flow on a monthly basis. So, guys, don’t forget to continue to always have your marketing machine going. This is really, really important.
Mike: Thank you for joining us for another FlipNerd VIP tip.
We’d like to thank our sponsors, RealtyMogul.com and National Real Estate Insurance Group.
To access the most robust social platform in existence for real estate investors, where you can find off-market wholesale deals, find great vendors to help you in your business, and learn and socialize with other real estate investors, please visit the all-new FlipNerd.com. If you’re not yet a member, you can set up a free account in less than a minute.
Mike: Please note the views and opinions expressed by the individuals in this program do not necessarily reflect those of FlipNerd.com or any of its partners, advertisers or affiliates. Please consult professionals before making any investment or tax decisions, as real estate investing can be risky.