When it comes to advertising there are many real estate investors who literally cringe. Are you doing this now? There is a good chance that you are because many advertising methods cost money. As a business owner you want to make money not spend it, right? Unfortunately, if you believe that all forms of advertising take money, you are sadly mistaken. Although you may have to spend money to make your business what you want it to be, there are ways to promote your business and the properties and services that you provide without having to spend any money at all.

Is your curiosity peaked yet? There is a good chance that it is, rightfully so. One of the ways that you can promote your business, without having to spend a dime, is by using something that is readily available online. That thing is online social networking websites Like Facebook, Twitter, Google+, Pinterest, and LinkedIn. A large number of Internet users, in fact millions of them, belong to at least one of these social networking website if not more.

When it comes to social networking, there are many individuals who think of online friendships or online relationships. While these types of relationships are the most common, did you know that social networking is also used for businesses? In fact, that was originally how social networking got started. Being a small business owner, especially one that operates an online presence, there is a way that you can use social networking sites to your advantage.

Although social networking websites are traditionally focused on those that would like to make online friends or develop online relationships, there are networking sites that are designed for investors. These websites will not only allow you to share your business information with other investors, but it will also allow you to develop close relationships with those that share an interest that is similar to yours. Essentially, this means that you could not only learn valuable business information, but you could also walk away with a new business partner or a new friend.

As previously mentioned, social networking websites with a focus on businesses, are a great way to promote your business. However, this does not mean that you should completely forget about the other online social networking websites, the ones that are designed to make online friendships.

If you are looking to join an online community, you will need to create your own profile or profile page. If you are planning on joining a traditional social networking website, to gain access to millions of potential new customers, you are urged to be careful when making your online webpage or profile. One thing that Internet users hate is being solicited for business. This does not mean that you cannot use social networking to your advantage; it just means that you need to be careful with how you do it. Instead of creating a Facebook Fan Page or a Google+ page for your business, you are advised to make one for yourself, but, of course, you will want to include information on your business.

By joining a social networking website, especially one that is popular and has a large number of members, you should be able to generate interest in your business, including the properties and services that you provide. Who knows, but that interest generated could turn into sales; thus making your social networking experience more than worth it.

Make sure you join me on my social networking pages and lets connect.

• Facebook

• Twitter

• Google+

• LinkedIn

• Pinterest

Also be sure to check out my other articles related to Social Networking:

• Facebook Fan Page

• Top 10 Things Online Investors Need

Did you know there is great value in having your business be a sponsor? In Marketing For Business I covered one way to use your business cards outside of what you may have normally practiced. In this edition of Marketing For Business I’ll cover another form of marketing that could have a huge impact on your business.

Sponsorship:

Through sponsorship you have a number of ways you can go to maximize the effectiveness of getting your business name out there, but here are the top 3 ways I’ve found to be highly effective.

1. Little league Sports – If you have kids that play sports you can be a sponsor for them. Maybe you get your business name on their jerseys or in their game program.  Here’s the best part, as they go through their season playing each team all the other adults will get to see your business name on their jersey or in the game program.

2. Non Profit/Charitable Groups - Find an active non-profit or charitable group in your city to support. Sponsor some of their events and their cause. Believe it or not, people pay close attention to groups who are listed as sponsors and in many cases the people who follow, support or participate in these groups look to support the businesses or people who sponsor them.

3. Cash Mob - Sponsor a cash mob for a local business that feeds off of what you do like a lawn service, a plumber, a handy man, a painter and so on. These could be the individuals who conduct the work on your properties or others you wanted to do business with but haven’t because you’re please with who you’re using. In turn these businesses will refer business your way and at the same time others in business will look to work with you. The best part is you could get business from both sides; clients and contractors.

So put your sponsorship plan into action and reap the rewards of your action and when you get a chance come back and let me know what method has worked best for you. If you have other methods you employ when being a sponsor please share them in the comments section below.

Become a sponsor TODAY!

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STEP #1: begins with your initial contact with the prospective tenant. You’ve posted your vacancy, ran your ads and you now are receiving responses. It’s important that you develop a series of qualifying questions, coupled with important information you will provide prior to taking that first call. I always suggest you assume the identity of “property manager”, not the owner. Using a PO Box and creating a LLC, in which rents would be paid to is great business sense.

1. Make it a point to advise them of your monthly rent and deposit needed to move in
2. Inform them of the date the vacancy will be available
3. Gather their name(s) and reasons for moving
4. Determine if they have children and the number of people who intend to live in the unit
5. Ask them to gauge their credit reports from very good, good or average, to challenging or poor. Remember that this is only an initial qualifying question. Credit reports will be mandatory for all adult tenants.
6. Ask them if they have pets, (how many etc. if you are allowing pets)
7. Ask them if they will be providing landlord references.

The manner in which these questions are answered, provided you ask them politely, will be your first impression of this potential tenant. Make notes on all of these and keep them separate from other potential tenants.

STEP #2: is the showing of the property. It’s usually a good idea to show the property to a few prospects at the same time. This will give the impression that the availability of the unit, or home, has received many inquiries. Possibly resulting in you receiving a higher rental payment than you advertised. This is, however not required.
At this point you begin to qualify your prospective tenant.

1. Did they show up on time?
2. Did they dress for the occasion? They should be trying to, at the very least, impress upon you their worthiness. If they show up looking sloppy, chances are that’s the way they live.
3. Were they polite? Their behavior will indicate, usually, just what type of tenant they will prove to be.
4. Finally take a quick look at their vehicle. How a person keeps a vehicle is often indicative of how they will take care of your property.

5. Walk thru the unit with the prospect and answer any questions they may have. Determine whether or not they are trying to negotiate rent by knit picking. (Make certain your property is ready for showing. The quality of your rental unit or home will greatly enhance the quality of your tenant)

STEP #3: involves the application and approval process. It is important that you utilize application forms that are legal and well represented in the industry. This includes your rental agreements. I suggest you utilize forms that your attorney has reviewed. A Landlord’s Attorney is a great ally and usually can recommend the proper forms, free of charge.

1. Inform your prospect when you expect the application to be completed and returned. Provide them the form at the showing and have them fill it out on the spot if at all possible. Collect any charges for credit reports
2. Review the application carefully for any incomplete information or inconsistencies. You cannot be too careful with this process
3. Submit the application to your source for credit reports. Again, Apartment Associations provide this service. Your realtor can also connect you with this necessary resource.
4. Review the credit report. If you do not know how to read these reports, gain this knowledge. Your Lawyer should happily show you how to read these reports
5. Once you’ve approved your tenant, schedule the lease signing and collection of the upfront costs. It’s also necessary to obtain copies of the adult tenant’s identification.
6. Inform your tenants that the keys and possession of the unit will be delivered AFTER the checks have cleared unless they are paying with a certified bank check
7. Make certain that all of the signatures are completed on the rental agreements, the agreements you obtained from a quality resource, and include a “house rules” form that details how you expect your tenants to behave and treat your property. Have them sign this form as well.
8. You should be very informed as to the rental agreement you are using. READ Them! Know them, and this will help you when the agreement is being signed. READ it to your prospect or be certain they have read it as well.

YOUR LAST STEP: is the move in and this can be done with or without your presence. I suggest you visit that day or a few days after to make certain they have taken possession and that the move in was completed without incident. An out of sight landlord can result in activity and behaviors unacceptable to you. Visiting your property once a month is the very minimum I would recommend and let them know you are there when you visit.

I encourage you to test the information I provide and return to give your feedback!

“you will bear no fruit if you never plant the seed” – Unknown

I was cleaning my office and decided to rearrange things, you know. In the mist of me changing things I noticed where I had several copies of courses and books. This book in particular will help you get investment money for your business. So I’m giving you a chance to get the extra copies, I have 3. Boy it’s amazing what cleaning up and changing things around will do for you….LOL.

I’m giving away a book by Alan Cowgill, a full-time real estate investor who specializes in finding private lenders to fund real estate deals. The book is called “How To Get All The Money You Need To Buy Property“. In other words he’s giving away the good on how to acquire investment money so you can do more deals, more than you ever imagined.

I have 3 extra copies and here is how the giveaway will work.

• Leave a comment on this post telling me why I should give you 1 of the books.
• Tell me how you think this book will help you in your investing business.
• Share this post using the social networking icons at the end of this post.
• Have your friends come and leave a comment voting for you to receive 1 of the 3 books.

That’s it, simple isn’t it.  All comments will be reviewed, votes tallied and the winners will be picked based on these results.

The winners will be announced on April 28, 2012 (2 weeks) in the comments section. The winners will be asked to send a self-addressed stamped envelope so we can send the book.

Thanks and good luck, I look forward to reading your comments and seeing your friends support you with their votes.

Here’s to you getting this book that will help you acquire more investment money in the future.

I know I’ve been talking a lot lately about Bandit Signs and how to use them. Well, I really see the need in getting this information out there with spring being here, the new investors I see out there and the mistakes being made by those who use Bandit Signs.

I’ve done a couple of videos on Bandit Signs which I’m sure you’ve seen by now where i gave helpful tips. In this post I’m covering the Top 10 Bandit Sign Mistakes investors are making and how to correct them.

Lets get started:

BREAKING THE LAW – I can’t stress this enough! Know your locations laws on the usage of Bandit Signs. If they are outlawed then look to other means for getting your message out. We as real estate investors already have a negative image we’re fighting so don’t make it worse by breaking the law.  ****Solution**** Use 4×6 postcards with your message on them and post them on message boards at your church, grocery store, laundromat, community center or any place where they have a message board.

WRONG SIZE – When using bandit signs you want to make sure your signs are able to be noticed by those who pass them by. I’ve seen signs that were 12×18; these may be cheaper but they are also harder to see by potential clients who are passing by in their cars. ****Solution**** Spend a few dollars more and get Bandit Signs that are 18×24. The cost will be more than the smaller signs but order 50 and not 100. The larger signs are easier to see plus you have the added advantage of more space for your message.

SAYING TOO MUCH – Investors often have too much to say on their Bandit Signs. Depending on who you’re marketing to, sellers or buyers, you must  not have a long message or they may pass your sign trying to read all of it and not get your number off of it. ****Solution****  Make your message short and to the point. Use 1 liners, you don’t have to use a complete sentence.

THE WRONG MESSAGE – In many cases I see the old tried and true “We Buy Houses” message on the majority of the Bandit Signs out there. Ask yourself, does that really work? Most people in any decent size city with real estate investors has seen this message SO much that it’s not effective any more. When it comes to messages for buyers most investors will use the “For Sale By Owner” signs. This is another one that doesn’t garner much attention anymore. ****Solution**** 

• (A Couple Messages for Sellers)
• Sell Me Your House Today
• Need To Sell I’m Buying
• (A Couple Messages For Buyers)
• Help! Buy My House
• Tired Homeowner Sale

SIGN PLACEMENT – I see Bandit Signs placed wrong all the time. I understand many times you may be placing them out late at night, in a rush or in an area with other signs so you’re trying to get the best placement possible so that your sign is noticed.  ****Solution**** Place your Bandit Signs in areas where people have to stop and look at them like traffic lights, stop signs, freeway exists, gas stations (if possible). Place your signs in an area where you don’t have to compete for views, if there are 3 or 4 other signs there find another place to put your sign. Place them in position so that they can be easily viewed and read by those who will pass them by. Never and I do mean Never put your sign in the middle of the block where people don’t have to stop, if you do, then you just wasted your time and your sign.

NO NUMBER – Believe it or not I’ve actually seen Bandit Signs with a message and no contact info.  ****Solution**** Always, Always, Always, Always make sure you have your contact number on your Bandit Signs. If possible make your number as large as possible so that it fills up a whole line. As an added twist put your number first, on the top of your Bandit Signs. If you have a website, a short easy to remember website add it to your sign if it works and looks good.

OVERKILL – investors, especially beginners will fall victim to this. This is when you see a particular Bandit Sign at every corner you come to. You see it so much it’s annoying.  ****Solution**** When using Bandit Signs to attract sellers target a specific area and put out 5 to 10 signs. Avoid the urge of wanting to blanket as much of the city as possible. By targeting specific areas at a time you can better track your leads and learn that area, plus you can avoid getting calls for areas you don’t want to deal with.

COLORS – I’ve seen Bandit Signs in black & white, blue & yellow, red & green, and purple & white. Some colors just wont cut it, some might.  ****Solution**** When deciding on your colors for your signs use those that you know will work. yellow & black, red & white, blue & white and try the new hot colors hot pink and black.

FALSE MESSAGE – I’ve seen Bandit Signs that say “I’ll buy you house in 2 days” and other stuff like that.  ****Solution**** Don’t say things on your sign that you can’t fulfill. If you do and you don’t perform the word will get around and your leads will dry up.

NO MARKETING – How many so-called real estate investors do you know that say they invest but yet they don’t do any marketing.  ****Solution**** As long as Bandit Signs are not against the law in your area you are fighting an uphill battle by not using Bandit Signs. They can be your key to getting leads and massively increasing your real estate investing business. Get them and use the. Get them here BanditSigns.com

Please share your thoughts or comments and let me know if you witness any other mistakes investors make with their Bandit signs.

I just had to share this, you can get Bandit Signs for $1.89/sign
From BanditSigns.com I believe this special is for 5 days only.

Hope this helps.

Last week I covered how to get bandit signs on the cheap without breaking the bank. I’m sure many of you liked the post based on your comments. Thanks again. If you didn’t see that post go check out Bandit Signs For Free, I’m sure it will help you.

Well, I got an email from a reader who said money wasn’t an issue and they could afford to purchase bandit signs, but they were looking for ways to get their bandit signs noticed and not just have them be like every other sign you see on the side of the road. Kudos to you Ms. BIG BUCKS….. just kidding.

Here you go:

Bandit signs are a staple in any serious real estate investors tools chest. These are “must have” tools. Your message can vary from trying to sell a property to trying to buy one, at any rate you’re doing yourself wrong if you’re not utilizing them.

Over the past few weeks I have been fielding questions on wholesaling and I noticed a major number of them have been about Bandit Signs. Where can you get them at a good price has been the #1 question without a doubt. Why? Well many people go through spending hundreds of dollars on bandit signs to only get them taken down by another competitor, city ordinance workers, angry neighborhood people, or simply the weather.

With those things in mind it prompted me to address this question and let investors know where they can get the best priced Bandit signs……FREE Bandit Signs. It doesn’t get any better than that. So, enjoy the tips and give me your thoughts and feedback, I welcome it.

All good things carry with them some degree of risk. The same holds true with real estate investing. Despite the promise of high rewards you should temper those ambitions with the reality that the risks involved are more often than not just as high as the potential rewards. For this reason you need to take every possible precaution in order to insure that you minimize your exposure to risk whenever possible or at the very least are prepared, financially and mentally to accept the consequences of those risks if the time comes.

The most obvious risk when it comes to real estate investing is the immediate risk of losing your investment. This risk can be a huge blow depending on how large your investment was to begin with but isn’t the worst thing that can happen during the course of a real estate investment gone wrong. While I’m certainly not trying to talk you out of investing in real estate all together it is a good idea to have a realistic view of the risks and the potential rewards.

If you are flipping houses as your real estate investment you have the potential to loose a little more as you can become injured during the course of your work. The sad truth is that many who are attempting to break into the business of flipping houses have neither adequate insurance coverage (this is true of themselves and the property in general and others that may be working on the property), the money, nor the time that a serious injury might require.

Another risk common to real estate investing is the fact that stuff happens. Market trends tumble, companies go out of business leaving towns and the local real estate market in shambles, accidents happen during the course of the work, natural disasters occur, and buyers change their minds and pull out at the last minute. Each of these things can have devastating consequences and are almost always events that are completely beyond your control as a real estate investor.

If that wasn’t enough many investors fail to have a proper inspection and find out when it is really too late that there are serious structural problems and other sorts of things wrong with the property. These things cost money to repair and cut into profits, occasionally resulting in a loss. The thing is that once you find out something is wrong with the property you are honor bound to either reveal the problem to potential buyers or fix the problems before selling the house. In the case of a flip, many major problems will undo the work that has already been done. If this doesn’t remind you of the importance of a thorough inspection I have no idea exactly what will but inspections are important for many reasons and can save a lot of time and money if you have one done ahead of time.

Do not allow the risks of real estate investing to prevent you from taking the plunge. They are spelled out here to remind you that prudence and caution are wise when investing in real estate not to talk you out of this potentially lucrative field of investing. If you are interested in real estate investing there is no reason on earth you shouldn’t take the time and make the effort to learn more about its potential.

Finding the right rental property is certainly one of the keys to succeeding with investment rental property. Below is a guide to help you get started in finding the right property that will help you to generate additional income.

First, consider whether you want to look for rental property on your own or whether you wish to use a broker to assist you in the process. A should be well versed about the local neighborhood, which can be important if you are not from that area.

Before you actually begin looking at prospective properties, make sure that you have gone through your finances and have them in order. Ideally, you should check your credit report several months before you plan to make a purchase in order to be certain that there are not any inaccuracies which could prevent you from obtaining a mortgage for the purchase of your investment property. Be sure to check with all three credit reporting bureaus, not just one, to get a clear picture of your credit standing. Assuring that your credit is in order can also help you to obtain a more favorable interest rate. If you are a cash buyer then you don't have to worry about doing this.

It is also important to do your research about the local market so that you do not overpay for the property you ultimately purchase. When you do purchase a piece of investment property, you need to make sure that the deal you strike allows sufficient room for a profit margin just in case there are times when you do not have full occupancy.

Carefully consider both the advantages and disadvantages of purchasing a property that could be labeled as a fixer-upper. While you very well may be able to purchase the property for far less money than other properties, in the event that major repairs and renovations are required, this investment will need both time and money to get it up and running. In this case, it would be better to find professional contractors to do the work and pay them for repairs to the property that require professional attention.

Before you purchase any property, take the time to have it inspected. Even if you have inspected the property on your own, you should still have a professional go over the property to be certain that the electrical wiring meets code, and that overall, the property is safe. An inspection can sometimes turn up problems which you might not notice but which could ultimately cost thousands of dollars to correct. You will typically be required to pay for the inspection; however, it is a wise investment that could save you quite a bit of time and money.

Take the time as well to research the local real estate market and the neighborhood. Check with the local police department to find out whether the area is safe and if you will need to provide any additional security. Drop by city hall to determine whether there are any plans for the local area that could potentially lower the value of the property. Research the real estate market in the area to find out the condition of prices. If prices have gone down recently, this could be an indication that rents will also be low. On the other hand, if home prices in the area are high, this could indicate the area is in demand that you may be able to charge higher rents.

Finally, do not make the mistake of ‘settling’ for a property simply because you are in a rush to invest in rental property. This could result in an investment that will require you to spend more time and/or money than you originally planned and detract from your profit margin.