Straight up, the answer is a big fat YES!
The most important thing about flipping homes is MARKETING. You have to market to get sellers, you have market to get buyers, there’s marketing for bird dogs. It’s safe to say that without a good amount of marketing, your real estate investing career will be short.
So what am I saying?
Marketing can be done free and Im going to show you how; lets talk for a minute about what you may hear everywhere. No money down here and I flipped a house without putting a penny of my money on the property.
Truth is they aren’t lying but they spent some money one way or another. They say nothing in life is FREE and neither is REI… At least not completely.
Marketing In Real Estate with money (benefits):
- You can pay for leads
- Buy bandit signs in bulk
- Pay someone to put bandit signs out saving you TIME (which is money)
- Have self hosted websites for gathering leads (sellers & buyers)
- Pay for business cards, flyers, signs, billboards, bus benches & peoples foreheads (extreme marketing)
- Hire VA’s (virtual assistants) to handle a number of time consuming tasks
- Start a LLC or INC to use to flip homes
- Set up voicemail answering service (costs monthly)
Marketing in Real Estate without money:
- Might have to go door to door with flyers and get out and meet people
- Might have to BORROW other people’s bandit signs (NOT RECOMMENDED AT ALL)
- Have to hand out business cards everyday; leave cards at gas stations, bus benches, malls, EVERYWHERE
- Tell everyone that you know that your in real estate and you buy homes (have to learn to ignore the “in this market?“)
- Handle incoming phone calls as best you can. Places like Freedom Voice, eVoice , Ring central etc, give you trial periods for using a toll free voicemail answering system. eVoice has a 6 month trial period and it’s totally free for 6 months. Trust me. I know because as Im typing this, Im on my 4th month and haven’t paid one penny.
- Your going to HAVE to get business cards. Everyone that I know starts off at VistaPrint because they offer FREE business cards. You just pay for shipping (Nothing is 100% free but air and eVoice).
- Call every single bandit sign and network with other investors in your area. This will do nothing but pay off in the end. Networking is very important.
- Put your bandit signs out on Fridays after bandit sign police take a mini vacation. Now when the weekend is over, you’ll have to take a ride and pick up the same signs after only 3 days of work. Can save you a lot of money.
These are most of ways that show flipping homes can be done with little money or with NO money at all but keep in mind; the less money you have for marketing, the tougher the journey so dont be too quick to give in. Hope this helps you and please if you have any more to add to this, feel free to leave a comment or 2
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Tags: flip house, investing, make money, no money, real estate, with money









Leave A Reply (4 comments So Far)
Margie
243 days ago
Wow, your post makes mine look fbeele. More power to you!
[Reply]
Gloria
233 days ago
Dennis, thanks for the day 4 information, I would like to know if I got this equation down correctly. When asking the seller his or her asking price, and I add the $20,000 to the asking price and I figure out what the after repair value is going to be, so I add up the total and present this equation to the buyer that I have lined up to buy this piece of property? I this correct? Your comment is greatly appreciated.
Sincerely,
Gloria
[Reply]
Dennis the R.E. Menace Reply:
October 5th, 2011 at 3:11 PM
No the ARV is just how much the home will be worth once it’s repaired. Your trying to keep it as far under the ARV as possible for the buyer but at the same time, make you some money in between.
The deal is made on the buy. The better (lower) you can get the seller to agree to sell their home for, more money you make. Getting the exact ARV is still something I’m studying but it involves the average ARV’s of similar homes in within a 1/2 mile radius. Also similar in sq footage, bedrooms and baths.
A similar formula I would use is:
1. Find out what similar homes in the area are selling for and get the average sale price.
2. Get a rough estimate of repairs and subtract that from the average price.
3. Subtract your assignment fee (how much you want to make)
What ever you come up with, thats a number you need to stay around when negotiating with the seller.
Best of luck
[Reply]