Keeping Your As a Foreclosure Investor, I Want My Web 2.0 Site - Don't You?

Keeping Your As a Foreclosure Investor, I Want My Web 2.0 Site - Don't You

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OK, I'll admit it. As a mechanical engineer I am a bit of a numbers geek and a bit of a computer geek.

As a foreclosure investor, I have built many web sites over the years. Unfortunately, most of these sites are now affectionately called "brochure sites."

This lovely name refers to the fact that visitors just "look around," and therefore a customer base is not readily established and the conversion from a visitor to sale of a product (e.g., foreclosure property) or service is almost impossible. I wanted homeowners facing foreclosure to contact me as well as investors looking to buy properties at pre-negotiated short sale prices to contact me.

I realized I was missing the big opportunities of Internet driven marketing campaigns. I am already good at direct marketing campaigns, door knocking campaigns, and sticky-note campaigns, but my Internet marketing transactions were minimal.

The idea behind Web 2.0 technology is based on at least three principles. First, is the usage of the proper key words that are normally searched for, using the big Internet search engines. Second, is the integration of the social networking platforms, including blogs, videos, tweets, etc. This provides for an excellent way to keep in contact with your customer base. Third, is a mechanism that can be used to develop a database of such to keep track of all of your customers.

Where combined properly, these techniques can drive large amounts of traffic to a Web 2.0 site that can capture contact information of interested customers, offer products and/or services, keep customers abreast of new additions to the site, and thereby generate another marketing (income) stream.

I was excited about the idea of having this technology at my fingertips, and purchased a video seminar on how to construct such a site. What I was surprised by was the amount of effort it takes to integrate all of the components required for an effective Web 2.0 site--especially after I had already built many previous sites.

The key point is to understand that we have to be ever more diligent on calculating the offer. Note, formulas used to calculate offers on long-term hold real estate are not at all related to fix and flip formulas, and these deals are normally disastrous for the unsuspecting investor.

We talk much more about this in the What2offer mentoring program. After years of doing these calculations by hand, my partner and I have developed an online real estate software to make our lives much easier. We can now crank out offers and determine the exit strategy in seconds.

To Your Success,

Tom & Svein

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