I’ve got a special Show Me State guest today, Robert Heyder from Cole Properties St. Louis and I go in deep today talking about the local St. Louis market, and we give you some great ideas about applying our strategies to your own local real estate market.
In this day and age, does direct mail marketing still work? With an open rate of about 0.5%, Robert cautions that direct mail marketing is a long-game. Folks could hold onto your mailer for a year or two before finally contacting you, but having that physical paper in their hand increases your chances of making a sale.
Robert shares that having a physical location with reviews from Facebook and the BBB, plus getting good testimonials from his clients has helped him build a brand that people in the community trust. When someone gets his mailer, they can look him up online and see that he is not a fly-by-night operation, but a part of the community.
As for other types of marketing, we talk over the advantages of PPC, organic web leads, social media platforms like Facebook, LinkedIn and even Instagram, but we both agree that no matter the channel you use for finding leads, following up is vital. Robert says that the best competitors across the country are answering the marketing calls live and that if you want to compete, you need to be doing the same.
Now, with all of his success in wholesaling houses, why would Robert move into commercial real estate? He notes that it’s not that different than homes; you just have more square footage and less tenants. He loves that the tenants are higher quality, the leases are longer, and the income stream is more reliable. Finding commercial properties to purchase can be done exactly the way you’d purchase a home in a small town; direct mailers and finding the right property owners.
Many of the approaches we use in the St. Louis real estate market can be applied no matter where you’re at in the country. Marketing, building trust, following up quickly on leads, and talking with bank connections can help you level up your real estate business.
Watch and Learn:
Listen and learn:
- Robert Heyder talks realistically about mailer marketing strategies, Facebook ads, PPC campaigns, and cold calling.
- We talk about wholesale buying in smaller towns, and some of the benefits to approaching these buyers.
- I share with Robert one of my key strategies for cold calling, namely the Filipino VA.
- Robert shares about why he’s pivoting into commercial real estate and talks about some of his successes there.
Mentioned in this episode:
- Review Joe’s podcast, books, or website: reviewjoe.net
- Joe’s Book: REI Secrets
- Get Joe’s other book “Wholesaling Lease Options”: WLO Book
- Robert Heyder’s websites: STL Wholesale Homes and Core Properties STL
- Robert Heyder’s podcast: Level Up Real Estate Investing
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