This will probably come as a shock to people who have been reading my blog for a while. I’ve written countless articles about creating websites for your real estate investing business saying that you should create a websites, squeeze pages and blogs. I still agree with that but only in the right situations. However, I say if you are trying to break into real estate investing with limited time and money, SKIP THE WEBSITE.
For the vast majority of investors that I’ve talked to, 90% of their leads come from traditional methods like direct mail, bandit signs, referrals and driving for dollars. When asked about their websites they all say it doesn’t pull a lot of leads, but they keep it up for the chance of a deal.
There are two main reasons why I say Skip the Website. You may not agree with me completely and that is okay. I have come to this conclusion after being asked countless questions about website building from new investors. I’m happy to answer the questions, but I’m always asking myself if this is the best focus of energy for these new investors?
If you are stuck trying to make the decision to go with a website, have a read of my opinion and let me know what you think.
Effort Required Here
In my experience putting together the network of websites needed for a real estate investing business takes a lot of effort for someone who understands it like I do. You would quadruple that effort if you are new to website development. Even using templates like wordpress will have a long learning curve for a newbie.
If you are working a full time job, dealing with a family and just starting out in real estate investing it is important to concentrate what little free time you have on activities that will produce the greatest results. Driving for Dollars, direct mail to out-of-state owners and bandit signs produce the most. Building a website is a time suck at this point and the leads it produces don’t pay.
Costly Maybe, But Miss Spent Yes!
People say you can invest in real estate with no money in your pocket. This is true, but it definitely helps if you can throw some money at your marketing. You can get a website built for as little as a few hundred dollars. You get what you pay for though. Anything decent with a good back office setup will cost you a few thousand in setup fees and then a $100+ in monthly hosting fees. That adds up quickly and once committed is hard to cancel for a variety of delusional reasons.
Is that spending my money wisely? I don’t think so. I mean, how much more time and money are you going to have to shell out to market your website so people can find it? Adwords costs money. Playing the Google SEO game is frustrating. Websites are NOT a Set it and Forget it proposition.
Direct mail on the other hand, taking all the materials in to account, costs roughly 50 cents per piece. Sending out 1000 mailers a month costs $500. Money much better spent in my opinion. You can even scale it up or down depending on your budget for a particular month.
This opinion comes from my current situation of having $400 a month for marketing and only about 10 hours a week to spend on investing. I have to get the most bang for my buck and more importantly get the most bang for my time. Setting up a website sounds easy, but trust me when I say it takes a lot of time, effort and money. There are templates for wordpress and prefab services that make life easier in terms of setting up your website but the problem is, after everything is setup you have to spend more time and money to get people to your website.
It’s the 80/20 principle
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