Creative Real Estate Marketing Strategies for Real Estate Investors

The Freedom Chasers Six-Figure Strategies Podcast recently featured Rick Howell, the owner of Howell Properties, LLC, a family-owned real estate investment business in Toledo, Ohio. In the episode, Howell shares his creative marketing strategies that have helped him build multiple seven-figure businesses. Rick's marketing strategy includes direct mail, text messaging, and cold calling to tax liens and pre-foreclosures. He emphasizes the importance of dominating the local market and presenting oneself as the local expert to increase deal flow.

Rick's five-month mailing campaign uses postcards with different colors every month to grab the seller's attention. He believes that consistency is key and that one should follow up with the seller at least seven times before giving up on a lead. He also stresses the importance of knowing the local market and building a network of buyers and sellers in the area.

Rick also talks about a bad experience he had while investing in real estate, which resulted in a loss of around $250,000. He partnered with an investor who did not follow the necessary steps to get the flip done. They did not inspect the house before buying it and later found out that it was built on two foundations. So, instead of renovating it, they had to do a full scrape and build a new house, which took their marketing costs and rehab budget. The project was supposed to be a six-month flip but turned into a two-and-a-half-year debacle. They lost all the profit, and the interest rates went up from 10% to over two years. Rick says that it is best to stay local and get good at the referral business before scaling virtually. In his case, he lost all the profit right out of the gate and the interest over two and a half years, and it was the biggest loser. He says he kept a level head during the whole process because he was around the right network at that time, and he received a lot of uncompensated therapy and advice from people in his network who had been there.

Rick talks about the challenges that FHA buyers faced last year in a market that favored cash and conventional offers. However, he believes that FHA buyers will come back this year due to the opportunities that are available. He shares his experience of building a lifestyle by design and getting into the real estate industry after reading the book, Rich dad, Poor dad. Rick talks about how he and a friend got their start in real estate by using equity lines of credit to buy a house, which they then renovated with the help of laid-off tradespeople. Despite not making as much profit as they had hoped for, they learned from their mistakes and went on to get their real estate licenses.

In conclusion, Rick Howell's creative marketing strategies, including direct mail, text messaging, and cold calling, have helped him build a successful real estate investment business. He emphasizes the importance of dominating the local market and presenting oneself as the local expert to increase deal flow. Rick's experience of losing money on a real estate project highlights the importance of following the necessary steps and having a good network of advisors. By staying local and getting good at the referral business before scaling virtually, investors can reduce the risk of losing money. Overall, Rick's insights provide valuable lessons for anyone interested in building a successful real estate investment business.

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Don't forget to reach out to Rick Howell:
Instagram: https://www.instagram.com/howell_properties_llc/
Website: https://www.howellpropertiesllc.com/
Linkedin: https://www.linkedin.com/in/rickhowelljr/

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