An underutilized wealth creation strategy right under your nose.
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5 min read
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With housing costs rising and fewer people buying houses, it is important to plan ahead. Real estate investors need to anticipate the next potential market change and think about new potential passive income streams.
So far, I've asked specific questions to over 831 real estate investors through social media posts and live interviews to learn more about their business. What I learned amazed me. Many real estate investors struggle with technology. It's not their fault – they are experts in business and not learning about the latest technology trends. A major source of residual income that real estate investors miss out on is selling their knowledge, expertise, and leveraging digital marketing to grow their business and close more deals. The lack of knowledge and experience with technology is hindering investors who are seeing real growth.
Related: 17 Passive Income Ideas To Boost Your Cash Flow
I was able to help many investors get their programs started. If you are interested in starting your own course, training or coaching program, you've come to the right place. You can use the following five action items right away. This applies to both real estate investment companies and real estate investors.
1. Ask your audience sales-driven questions.
Almost every real estate investor I've worked with has had audiences large or small. Investing in real estate is a hot topic these days because it can be so lucrative. Ask questions that will help solve the problems your audience is facing. Then create a program based on the answers you get.
2. Start your program based on the trend response.
Now that you have asked your audience sales-driven questions, it is time to start your program. If 80 out of 100 people give you the same trend answer, you've hit gold. You now know what your audience wants and what they are struggling with. Create an offer and launch it for your audience even if you haven't created a single piece of content. Start it off with live calls so you can get feedback on how your content is up to date and what you need to change to make it fit your needs.
Related: Increasing number of female investors in real estate
3. Choose your sales systems organically.
The best way to start your program is to start with what you already have. You know the problem your audience is facing. You have already created your program. Now is the time to reach your audience organically. You have already spent time caring for and teaching them. They are more likely to invest in your program as they have been warmed up to your message. You can do this by making simple Facebook posts first. Make sure to "tease" your audience before launching them, just like the movie industry makes movie trailers for upcoming movies. Start your program by opening the shopping cart on a certain day and only accepting a certain number of people.
4. Strategically automate your program.
This is where passive income comes into play. Do not work more than you should and create another job for yourself. You're a real estate investor because you prefer doing other things. They love the idea of passive wealth. To achieve this goal, automate your business as much as possible. Your program can be almost entirely self-sufficient if set up correctly. Establish procedures that automate your program. This can be done by setting up step-by-step processes for current or future employees, or by setting up automations for them. Get notified when new leads and sales come in with integrations.
Related: "Shark Tank" Barbara Corcoran Says She Built Her Business "Almost Like A Man"
5. Scale with Facebook Ads and Google Ads.
While Facebook and Google ads are some of the best ways to scale your program, the cost goes up. According to Hootsuite, a social media management company, advertising budgets are set to double in the next five years. My advice? Start promoting now and continue promoting later. Prices will only go up until the next big advertising platform shows up. The best way to combat this is to start advertising now so you can get in while the advertising costs are the lowest. Get as much data as you can as early as possible and be ready when prices are high.
Following these results has resulted in hundreds of thousands of dollars for my clients. You may have followed all or part of some of the above steps. That's a good sign. Proceed to the next step. If you're starting from scratch, I highly recommend starting with the first step.