How Important Is Marketing to the Fix and Flipper?
Aug 01, 2018 / Fix and Flip
Like many people, you probably assume that as a fix and flip expert, your top priority should always be on the remodeling you’re doing to homes. But like many other markets, that’s not actually the case. Instead, your #1 job should always be marketing. Without a strong, consistent marketing plan in place, you’ll find that it’s very difficult to succeed as a fix and flip expert.
What Marketing Does
Why do you need to have an automated marketing system in place? There are two important reasons:
- Your marketing activities bring in potential buyers for your properties, which is how you ultimately make money
- They also let those with homes for sell know that you’re looking for new properties.
In short, marketing controls both your sales and your new purchases. Without a strong marketing campaign, you’ll either sit on properties for months without profiting from them or find yourself without any new properties to renovate. Either of these situations makes it difficult to grow your business.
A Never-Ending Task
There are a couple of things that can be hard to accept about marketing. The first is that it’s never done. You’re always going to have to have some form of marketing campaign running at all times. If you don’t, you risk either not having buyers for your homes or not having new properties to purchase.
The second unfortunate fact about marketing is that you’re going to have to spend more time on it than you’d like. You have to analyze your current marketing campaign, look at how successful it’s been, and then make adjustments. You’ll also have to evaluate new marketing channels and determine which ones might work for you. If any do, of course, you then have to develop the marketing materials that work for that channel.
It can get very frustrating to constantly have to stop focusing on your renovations to work on marketing. You may not even have much experience in this area, which can make it even more time-consuming. Without a good marketing campaign, though, you can’t succeed in the fix and flip world. Fortunately, as I’ll talk about in later blogs, there are some fairly easy and affordable methods of marketing you can use until you make enough money to hire someone to handle this headache for you.