There is an ongoing debate here on BiggerPockets and in real estate investing circles about which investment is better—single family or multifamily. It is a very interesting (and even fun!) debate, and both can be great investments if you are prepared and execute an effective strategy and plan.

Today, I am joined by fellow BiggerPockets contributor Chad Gallagher from Slatehouse Management Group. We go into a ton of detail as we debate back and forth on this topic. Chad presents an argument for why the single family home strategy is better, and I’ll be debating why multifamily is better.

Related: How to Transition From Single-Family to Multifamily Investing

Multifamily vs. Single-Family Real Estate: Which is the Superior Investment?

I hope you enjoy this in-depth debate. Let’s continue the discussion and debate.

What investment class do you invest in? Why is it a better investment?

Thanks as always for watching my videos!

Source link

The links to third-party products and services on this page are affiliate links, meaning that BiggerPockets may earn a commission (at no additional cost to you) if you click through and make a purchase.


Real estate investment is a business of referrals. Just as in any industry, a few bad apples can ruin the image of the entire industry, so it can be difficult to get attention if you aren’t recommended first.

Believe it or not, there is a simple solution to this issue: Develop a great reputation.

When you do business well, you will create a portfolio of referrals that will do the talking for you. But in real estate, doing business well can be easier said than done.

As an investor, you are looking to get the biggest return with the least amount of work and as quickly as possible, but this must be balanced with the client’s need to feel taken care of.

When people feel that they are being taken care of, they will be more likely to refer you to their friends and family. So how can you create the best experience for your clients as possible? 

Be Honest

Don’t try to hide the fact that they may have options. Of course, they may be in a situation where putting the home on the market is not feasible, but this will not be the case for all your clients. Instead of avoiding the option of listing the home, make your option better.

Tell them about the short closing time, show them the laundry list of items that a home inspector goes through in a traditional sale, or maybe provide a list of rentals in their area to help with the transition.

Let them know that if they choose not to sell to you, they still have other ways of relieving their financial burden. Get to know the ins and outs of refinancing so that you can be a resource for some of the people that you may encounter.

In cases like these, you may not close that particular sale, but you may have opened the door for a few referrals. If you are honest, open, courteous, and respectful, you might even get referrals from someone who decided to refinance instead of sell.

Related: 6 Ways to Impress Clients With a Highly Personal Business Experience

Be Mindful

If you feel as though a client is not feeling cared for, talk to them. Give them a space to air their grievances. Maybe they have other people whispering in their ears about other options, or perhaps they are confused about the process and are feeling a bit uneasy.

Listening to your clients and answering their questions can ease their worries and bring a realm of comfort that will encourage a smooth sale.

You’ve been through this process before, but for many of your clients, this will be the first time they are involved in a transaction such as this.


There are many nationwide tools like Cole Realty Resource—or local solutions like Real Estate IQ in Texas—where you can research before you even meet your clients. You go in knowing how long they’ve owned the residence, whether they’re facing a lien, and what their income is, which can inform how you approach the sale. A family selling a cherished home will present different challenges than a rental owner who is just trying to unload a property. Using these tools not only offers a means to contact home owners, but also paints a picture of that owner, which can be used to provide a more efficient negotiation.

If you are mindful of the climate of the situation and keep the lines of communication open, you can check in with your clients and make sure that they feel like they have a voice that is being heard. 

Be Intentional

When you feel like a transaction is going particularly well, document it. Keep track of timelines and money earned by your client. Ask your clients if you can share a statement with future clients to accompany these numbers.

Send a thank you to your clients. Take the time to get to know them so you can send them a personalized closing gift. Does your client like to cook? How about an initialed cutting board? Do they play golf? What about a pack of nice golf balls or club mitts?

When your clients remember you fondly, they might be more likely to send your name down the line with the time presents itself.

Ask to take pictures of your happy customers. Real estate agents often take a picture of their buyers in front of their new home and post them on Facebook. Why not take a picture with your clients holding the envelope to their closing check?

Related: Yes, Customer Service DOES Matter in Real Estate: Here’s How to Make Yours Top-Notch

Send out a quick blurb (through email, mailers, or even a Facebook status) that reminds your past clients that referrals are the name of the game.

Through all your transactions be honest, be mindful, and be intentional. This perspective will help keep you on track to potentially being the name that people think of when their friends ask for real estate or investor referrals.

And those referrals could be what helps you grow your business and set you apart from your competitors.

Cole Realty Resource has a 70-year history of providing contact information (including cell phones and emails) for a specific property or entire neighborhood, which means more meaningful conversations about buying and selling real estate. Because of your relationship with BiggerPockets, you can now get access to unlimited home phones, cell phones and emails—all tied to a specific address and all at a discounted rate. To start getting contact info within minutes, click here.

How do you work on being honest, mindful, and intentional with your clients?

Comment below!

Source link

Real estate myths are abundant on the internet. It’s important to discern the facts from clickbait and content written by people trying to establish themselves as experts in an area they’re unfamiliar with. Some articles legitimately debunk real estate myths. The biggest obstacle is misleading titles that claim to debunk myths, but actually perpetuate them.

Incorrect information usually comes from one-sided reporting by people sharing a personal experience with a given situation. Unfortunately, following bad advice can plunge you into a downward spiral, depleting every ounce of financial security you have. One major financial mistake can drain your savings, force you to live on credit cards, and cause debt which will affect your ability to continue investing.

Hopefully, you’ve got a bigger savings account than the 69% of Americans who have a stash of under $1,000—or the 34% who don’t have any savings at all. If you don’t have enough savings to cover a large loss, it’s especially important to discern fact from myth and learn from experienced investors.

Relying on the following myths as absolutes can quickly turn your profits into loss.

3 Real Estate Myths That Can Turn Potential Profits Into Huge Loss

Myth #1: Listing above market value will always give you more profit.

At first glance, it seems like good advice to list above market value. Real estate agents know prices are negotiable, and it seems advantageous to negotiate from a higher starting point. Every investor wants their property to be one that sells above asking price, and starting higher seems like a good strategy to make that happen.

For instance, an inexperienced investor might list and sell a property for $200k above market value, and write an advice piece urging other investors to list above market price. An experienced investor knows listing above market value is a strategy to be used in specific circumstances only. A new investor doesn’t have enough buying and selling experience to differentiate what those circumstances are.

Listing above market value can work in cities like Seattle, San Francisco and the Silicon Valley area where homes routinely sell for more than asking price. In 2013, 67% of homes in San Francisco sold for $41,000 above the listed price. In 2017, a quarter of all U.S. homes sold for 3.1% above listing price.

In 2014, two Palo Alto homes sold for over a million dollars despite being in total disrepair. Despite one of those Palo Alto homes being steps away from noisy Caltrain tracks, it’s a few blocks from a lively downtown area. Also, when parking is scarce, homes with garages sell for more. It’s all about location, and apparently parking.

Attempting to list above market value outside of high-demand cities (or circumstances) can get your listing ignored. You can reduce the price when you don’t get any bites, but according to Nela Richardson, Chief Economist for the brokerage Redfin, if your home stays on the market for more than a few weeks, buyers will become suspicious.

Myth #2: You’ll get a better deal as a buyer without a real estate agent.

When a house is listed with a real estate agent, the entire sales commission is included in the price. When a buyer doesn’t have an agent, the seller’s agent receives the entire commission. In other words, a percentage of the sale price is designated as a sales commission. You don’t get a discount when you buy without an agent.

Myth #3: A small profit on a bad deal isn’t a big problem.

A small profit can become a big loss when you were counting on the deal going through for much more. It takes time, effort, and money to salvage a deal gone wrong. This is a lesson Dave Scherer knows well. As the Principal and Co-Founder at a top-ranked commercial real estate investment firm, Scherer knows his game. Like anyone, though, he isn’t immune to a bad deal. His firm entered into a JV deal that looked great on paper, but turned out to be the company’s smallest profit in 11 years.

Scherer’s firm bought a student housing complex for $14.4 million, but their partner failed to reveal that leasing was down, and he hired his own companies to work on the property without telling anyone.

After investing time and money into maintenance, capital improvements, marketing, and leasing out extra space, they eventually sold the property after owning it a little over a year. Their efforts to revive the situation strained their resources, and their JV partner became a hindrance to their attempts to revive the situation.

Scrutinize All Advice

Take all advice with a grain of salt. Look for the context people may not be sharing. Know the circumstances that make your situation similar or different from the success stories you read about. Property investment advice rarely applies to every situation all the time.

What would you add to this list?

Comment below!

Source link

It can sound very simple to raise money online for multifamily real estate deals today. Capital is more accessible nowadays due to many investors chasing yields. Yet, capital raising processes can get messy and soak up a lot of your time. Here are some of the biggest lessons I’ve learned through raising money for multiple deals, and how to maximize the opportunity.

The Need for Systems

As with everything else in real estate transactions, investing, and keeping your finances straight, you’ve got to have systems for raising capital and managing investors.

Without good systems, it is going to be inefficient. You’ll struggle to keep money in order, provide the best investor updates, and services.

Related: 6 Questions to Ask If You Plan to Raise Money for Real Estate Deals

It may not sound efficient or appealing to create and document systems every time you do a task the first time in order to make to it simpler for delegating later. Yet, it is far more productive than spending far more time cleaning up mistakes, repeating live training, and trying to reorganize once you’ve got mountains of data to sort. Google Docs are great for documenting processes and the information can be easily shared with partners. Additionally, the service is completely free. Free is good!

Getting Commitments

Starting by getting soft commitments upfront can be a huge help. Sponsors should plan to get commitments for 100 percent of their funds from contacts they know in advance, before going public with a specific deal. This helps you avoid having scrambling to raise money once you have a deal under contract. What I’ve found out is that you have to get at least 10 percent over your needed funds to close on the money you need. For example; if your base raise is $10 million, get at least $11 million in commitments.

Keeping Everything in One Place

When you are raising capital from dozens, hundreds, or thousands of investors, you really need to keep everything in one place. Using half-a-dozen databases, real estate CRMs, accounting tools, and customer-facing portals can not only affect your productivity negatively, but can really hamper your ability to serve investors. It can also dramatically increase your risk of loss of data and mistakes.

Work to have everything in one place if possible. There are real estate software solutions that help with this process. Look for those with the best integrations and which bring together the most components, so you can consolidated data, costs and streamline workflow and keep down labor costs as well.

The Need to Delegate

If you are going to raise money to complete more and bigger deals, you’ve got to learn to delegate.

Delegating should be the first choice in order to maximize ROI on time. As a sponsor, real estate syndicator, or CEO, you are expected to be the most diligent you can be with your time and overall organization’s performance. There have been plenty of CEOs and founders ousted from their own companies because they weren’t doing the best possible job. You have an obligation and responsibility to get the most out of your time, and resources available.

Related: 6 Aspects of Real Estate Investing You MUST Understand Before Your First Deal

Host Webinars

When you begin raising money from the crowd for real estate deals you can quickly find that it takes time. If you aren’t efficient you can spend months repeating the same information, holding meetings, giving presentations, and answering the same questions. That can take a lot of time away from doing actual deals, managing them, and getting the capital you have already raised to work.

Webinars have proven to be a great way to streamline this for me. You can get a couple hundred investors on one virtual meeting in one place and save weeks and weeks of time. Use them to present a business plan on a deal and process, give a quick overview of any deals you have on the table, and leave time open for a live Q&A session. The Q&A is the best part when it comes to providing value. You can really help convert investors, but also make your offering and service better. Just be prepared, because you will get drilled with questions by investors. They will not hold back.


Many of the above lessons I am still improving on to this day, especially the delegating on certain tasks.  

I would love to hear others experiences and lessons learned.

Please comment below!

Source link

Cushman & Wakefield hired Susan Tjarksen, Todd Stofflet and Jason Stevens to bolster its Midwest multifamily investment sales operations. Tjarksen, Stofflet and Stevens led KIG CRE’s multifamily institutional investment sales brokerage team and bring with them six of their team members: Laura Ballou, Jacob Albers, Daniel Falkenberg, Caleb Zielke and Brenda Cuellar.

Source link

The floodgates appear to be opening. FCP, a privately held real estate investment company, is ready to dole out capital for projects in or around Opportunity Zones. This is an early example of what could become an absolute landslide of capital pouring into the Opportunity Zones called for in the Tax Cuts and Jobs Act of 2017.

Source link

Real estate often plays a catalytic role in improving finances and helping families achieve financial freedom. But if you already have existing debt on the books, you need to do your due diligence prior to taking on any more.

Good Debt vs. Bad Debt

Before diving too deep into the discussion of whether or not it’s smart to invest in rental properties when you have existing debt, it’s important that we discuss the nuances of debt. In particular, we need to examine the difference between what financial advisors call “good debt” and “bad debt.”

Good debt is generally considered debt that you have against an appreciating asset—such as a house or business. Ideally, this debt creates cash flow for you. At the very least, the asset’s value appreciates over time and puts you in a stronger financial situation.

Bad debt is debt that you have against things like credit cards, car loans, and student loans. With bad debt, there is no appreciating asset. There also tend to be high interest rates, which makes it easy to fall behind on payments.

As the old saying goes, good debt will make you rich, while bad debt will make you poor. This is obviously an oversimplification, but you get the picture.


Related: How Debt & Taxes Make the Rich Richer and the Poor Poorer

Investing in Real Estate With Debt

Very few Americans are totally debt free. There are plenty of people who have gotten rid of their bad debt, but even those people typically have some good debt on the books. Thus the question arises: Can/should you invest in real estate while in debt?

The answer to this question isn’t as straightforward as you may like. While you certainly can, you’ll have to do some careful analysis to determine whether or not you should.

For starters, if you’re drowning in bad debt—i.e. credit cards, vehicles, and student loans—it’s not smart to think about adding more debt to the equation (even when it’s good debt). Your money is much better spent paying down these debts and digging yourself out of the hole you’re in.

But what about those who have very small amounts of bad debt or strictly good debt? This is where the discussion gets interesting.

Before getting too far along in your research, you’ll need to make sure you even have the option of bringing on more debt. While lenders don’t require you to have zero debt to qualify for a loan, they do want to see your debt-to-income (DTI) ratio to understand how much of your monthly income is going towards debt.

Related: The Dave Ramsey Dilemma: Should Real Estate Investors Really Avoid Using Debt?

“Lenders care about your DTI ratio because they want to make sure you have enough available income to cover your existing debts plus the mortgage,” RISE explains. “In other words, they are trying to determine your ability to repay the loan.”

For a first home, the maximum DTI lenders are comfortable with is usually somewhere in the range of 36-50 percent. For a real estate investment or second mortgage, that number is probably a lot closer to 20 percent.

If the numbers line up and you think your finances will qualify you to buy a rental property, the next thing to think about is the practicality of making a deal.

The biggest pro to investing in real estate is that it provides you with additional cash flow. This money can then be used to pay down debt, which accelerates your ability to build wealth. Of course, there’s always the downside of having vacancies in your property or experiencing an economic collapse that kills property value and leaves you over-leveraged.

The biggest downside to investing in real estate when you’re already in debt is that your monthly payments only increase. This leaves you with less discretionary money and hurts your flexibility in the short-run. It also enhances your stress, since you’re only one problem away from a total disaster.


It’s a Personal Decision

At the end of the day, it’s impossible for someone to tell you whether or not you should invest in real estate while carrying existing debt. In some situations, the answer is clear. However, most instances require lots of research and due diligence. Make sure you spend plenty of time analyzing the details of any deal before proceeding. Wealth building is a slow and steady game—don’t rush it.

Questions? Comments?

Weigh in below!

Source link

Ever wonder about the REAL story behind the house flipping tv shows? On today’s show, we interview Ken Corsini, star of HGTV’s Flip or Flop Atlanta! Ken pulls back the curtain and shares fantastic insight and knowledge into several areas of real estate investing, from house flipping to new construction to owning a real estate brokerage!

In this episode, we cover Ken’s methods for finding deals in hot markets, how to recognize general contractor “price creep” (and what to do about it), and how to craft multiple exit strategies that will serve you in any market. Ken also shares some fantastic insight regarding his technique for staying flexible to protect himself from market downturns that you do NOT want to miss (if you value keeping money over losing it)!

Click here to listen on iTunes.

Listen to the Podcast Here

Watch the Podcast Here

Help Us Out!

Help us reach new listeners on iTunes by leaving us a rating and review! It takes just 30 seconds and instructions can be found here. Thanks! We really appreciate it!

This Show Sponsored By

FundriseFundrise enables you to invest in high-quality, high-potential private market real estate projects. I’m talking anything from high rises in D.C. to multi-families in L.A. — institutional-quality stuff. And each project is carefully vetted and actively managed by Fundrise’s team of real estate pros.

Their  high-tech, low-cost online platform lets you track the progress of every single project, and keep more of the money you make. Oh, and by the way, you don’t have to be accredited.

Visit to have your first 3 months of fees waived.

Deep Dive Sponsor

Over 2 million people are earning money by hosting on Airbnb.  It’s free to list, and Airbnb has a tool that’ll help you price your place just right.  Whether you’re looking for some side cash, or a steady income, hosting on Airbnb might just be the best investment you haven’t made yet.

When you go to ? and start hosting you’ll receive a $100 cash bonus if you generate $500 in booking value by December 31st.

Fire Round Sponsor

simplisafeCheck out SimpliSafe Security’s DIY home security systems; an affordable, wireless, cellular, and customizable system that doesn’t require a contract!

Try it today with a discount:

In This Episode We Cover:

  • Why Ken kicks himself for selling houses he flipped
  • How he adapted to a changing market when hedge funds took over 
  • How he started a construction business to keep up with the growing demand for big rehabs
  • How he recognizes what the best strategy is for each market
  • What “price creep” is—and what to do when you find it
  • Why adaptability is your best ability
  • And SO much more!

Links from the Show

Books Mentioned in this Show

Fire Round Questions

Tweetable Topics:

  • “I don’t think you can stay relevant if you don’t watch the signs and learn to adapt your business.” (Tweet This!)

Connect with Ken

Source link

Freddie Mac found a disturbing trend in homeownership rates: Members of the LGBT community are less likely to own a home, are more mobile, fear discrimination when buying a home, and prioritize living in LGBT-safe neighborhoods. The study revealed that 46% of LGBT renters fear discrimination in the home buying process and that when members of the LGBT community are determining where to live, their top three priorities are price, safety and LGBT friendliness.

Source link

Over the last three posts, we’ve introduced all you internet-savvy property managers to the various types of content used in internet marketing, to the concept of a sales funnel and how it works in terms of both people and content, and finally to the mechanics of SEO and how links and keywords connect content to create a “juice funnel” that will drive your most important web pages higher up on the search engine results. We ended that post with a note that the only remaining piece of the puzzle was making sure that your content was getting looked at—and thus, let’s get started on the voodoo that is social media.

 Why Social Media Matters to Your SEO Efforts

The content funnel, once optimized through the SEO process, turned into both a way to move people toward your sales page and a way to funnel juice to your sales page. Social media performs a very similar dual purpose by putting your content directly in front of the eyes of interested people and by kickstarting the juice that your newest content builds in its first days of existing.

In our previous post, we mentioned the “freshness boost” that every new page on the internet gets just for being new. It’s a pretty significant boost, but the vast majority of new content just goes to waste by doing nothing in particular with those first few days. It just sits out there, being new and getting a few extra people looking at it because it’s higher up on the search engine results than it will be once the freshness boost wears off, and that’s it.

But that boost is a great time to build the number of people who are viewing your content (which, remember, is one of the key elements of how much juice that content has in the first place) and how long they’re staying on that page and within that domain (a second key element). If you can use social media to get more people viewing and spending time on your page during the freshness boost, the boost and the “normal” juice factors will stack up to drive the content even further up the search engine results—which in turn means more people will be looking at your content.

In its ultimate form, this creates a self-reinforcing spiral that can take a piece of genuinely killer content viral—but that’s, like, one in a billion. If you can consistently ride that spiral up just a few iterations and get a 10% increase from where you would be if you hadn’t done any social media-ing, you’ll reach the goal of “enough juice on your sales pages that clients come to you and ask you to work with them” in half the time of someone who doesn’t do all that.

Of course, that’s just the SEO part. Social media is also great for several marketing purposes all on its own, including:

  • Answering questions from your customer base,
  • Getting your name and logo out into relevant communities,
  • Establishing your expertise in front of potential future clients, and, of course,
  • Directing traffic into your sales funnel.


Caring is Sharing

But really the thing that sets social media apart from other forms of marketing is that it’s all about getting your client base to market for you. Only they don’t call it marketing, they call it “sharing this thing with people who will appreciate it.” Obviously, that means that any social media post that doesn’t get shared is a failed social media post. But how do you get your social media content shared in the first place?

Related: The 4 Social Networks You Need to Connect With Millennial Buyers & Renters

The answer boils down to one word: emotion. Emotion is what makes people care about something, and people who care are people who share. Here are some of the most share-inducing emotions and an example of how to trigger each one:

  • Outrage: Present them with a short, provocative fact (best written across or next to a relevant and powerful image) that will outrage them and provoke them into commenting and counter-commenting. Don’t include a link in this kind of post, though, because you don’t want them to follow the link to a larger piece of content and then get distracted from their outrage. Instead, include the link as the first comment. Remember to keep it relevant to your audience—probably either current tenants or potential owner-clients—and explain in the link comment how you solve or work around the problem.
  • Relief: Give your tenants a short explanatory video that tells them everything they need to know in order to do some annoying thing your lease demands that they do, and share it with the world. For example, our lease requires all of our Detroit tenants get a Water Affidavit with the city, which is just demanding enough that we have to attach a monthly fee if they don’t do it. That’s a great example of something that could be turned into a video—all your tenants will want to see it, but there are lots of other people out there searching for that information who could benefit from it and share it with other people in the same boat.
  • Humor: Tell a story about a time that something truly weird (in a funny way) happened with one of your units or tenants, and explain how you resolved the situation. That’s better in the form of a blog post, but you can totally hook that to a funny summary of the story and post that with a link attached to it on your social media channels. Memes are a great way to do this if you’re familiar enough with the medium to use them in context. “Not that it’s any of my business, but… I don’t think your pet policy includes alligators.”
  • Curiosity: Very similar to humor—tell a story about something truly weird (in an unusual way) that happened in the course of doing business, and then make your social media post about it ask a question that people can’t help but want the answer to. “They got evicted, and they left behind a live WHAT!?
  • Other industries can make good use of other emotions, like fuzziness (i.e. the “awwww” feeling), gratitude, badass-ness, or hope, and you should definitely keep an eye out for the chance to deliver on those emotions if they arise—but in general, they’re not likely to be deliberately generated as easily as the top four.

People experiencing these emotions naturally want to share them with the people they care about, which is what actually prompts them to share your post.

 The Social Pitfalls of Capitalism

This is important enough to get its own section, so read it twice.


(Well, obviously, you can, but you’ll fail at social media if you do.)

Social media is about giving away valuable content, and getting the benefits of free marketing of that content. If you use your social media to try to overtly sell things—including yourself—people will never follow you, or worse, they’ll outright block you.

You should follow at least an 80/20 rule: Post four pieces of content that have no direct benefit to your business for every one you post that links to a sales page or otherwise is plainly profit-motivated (90/10 is usually better). The more people see you as a source of value rather than a seeker of value, the more readily they’ll follow, like, and share.

Related: I Took a Break From Social Media for 30 Days: Here’s What I Learned

The only exception to this rule is if you’re posting in a location or from a separate account that is plainly intended for selling (or renting, as the case may be).


The Mighty Influencers

Social media channels are “social” because they allow all of the people who are following you to see all of your posts. This is all well and good unless you have relatively few followers, which is where pretty much all of us are—there’s just not a lot of really obvious reasons for people to follow your social media page.

That means that if you want to reach a large audience, you have to convince someone who does have a ridiculous amount of followers to share your posts with their audience. These folks are typically referred to as “influencers,” and being an influencer is a business in and of itself—some even sell their likes and shares. Not that we would ever suggest buying them; you’re better off using the process below.

If you want to reach an influencer and have a passable chance of earning an “organic” like or a share, you need to first identify who your “local” influencers are (as in, the ones that your target market segment are already following). Then, research the kinds of things they most often share, and craft a set of content specifically to appeal to them. Then share it with them, or post it in a place you know they frequent.

This is obviously somewhat of a gamble, but if you can get even a few shares from the same influencer within a few months, your chance of getting the attention of part of their audience is substantial. Fortunately, there’s nothing about this targeting process that keeps you from using the same content as a part of your regular sales and SEO funnels. It’s some research up front, but once the research has been done, you can just whip out a blog post once every other month or so with that influencer in mind, and go about your business knowing you’ve effectively purchased a raffle ticket to Share Mountain.

 Location, Location, Location

Where you post has a powerful effect on how you can post. Some social media have only individual feeds to post on and share – Twitter and Instagram both fall into this category. But many—like Facebook, LinkedIn, and most famously Reddit—also have some form of group area whose topic is determined at creation by the creators. On those channels that have such groups, it can be to your benefit to participate in those groups. Just be careful to keep your value-giving to value-seeking ratio high, because most of those groups are moderated by people who are sensitive to profit-seekers and will happily ban you if you’re overt about it.

One of the ways that you can define your target market segment in the first place is to look up Facebook pages, LinkedIn Groups, and subReddits that are both relevant and busy. Is there a Detroit Property Investment Facebook Group? Of course there is! Is it busy enough to be worth posting in? At the moment, but that could change overnight. Don’t trust us; go check for yourself.

Searching the social media for “<your city> property” is a good way to start, but get creative. It’s a lot less likely that there’s a group for people looking to rent, but heck, you never know. Again, the only reason not to search is time constraints.

But Shares Aren’t Everything!

Getting shared is very much the purpose of social media—but you have to balance the need to get shared with several other factors, like:

  • Presenting your business in the way you want it to be seen,
  • Posting content relevant to the audience you’re posting in front of, and
  • Adhering to all of the relevant legal and ethical standards for social media use.

The last thing you want to do is go vital for something that makes you look like you don’t know what you’re doing, or like you’re a jerk in the first place!

…And speaking of last things, that was our last thing! We’ve introduced you to everything a small-to-medium property management company needs to get started legitimately marketing themselves online. There are worlds more details—we haven’t even started covering things like pay-per-click marketing, Facebook advertising, or email marketing, all of which are easily worth the post. Maybe if this series turns out to be popular enough, we’ll keep going—we’ll have to see. Until then, good luck marketing your property management company online!

How do you reach your audience with social media?

Comment below!

Source link