Mini e-course Part 3 – So now you’re sourcing…how are you testing which methods work for you?

This is the third part of our free e-course, if you missed the second part or need a refresher click on the following link - sourcing bmv leads & deals.

It is critical to understand where your marketing budget is being spent

The analysis will provide you with details as to where your leads are coming from and surely you will plug more money into this area. Also you will clearly see which areas of your marketing are not performing and you can refine or simply pull the plug.

You can create a simple Microsoft Excel spreadsheet detailing different marketing avenues and the results achieved. You can then analyse your Business on a week by week basis and bring it all together every month to scrutinise your marketing activities. The stats will provide you with how much you will need to spend per deal and your return on investment.

Example numbers:

So if you are spending £1000 per month on marketing and this gives you say 25 leads then each lead is costing you £40. If you manage to secure 1 deal then the cost per deal is £1000. You invest £1000 and may get £20,000 in equity...not a bad ROI right! If 1 deal is costing you £1000 then of course you can do 4 at £4000…make sense? You can scale up or down as and when you feel comfortable and ready to do so.

Part 4 will certainly get you thinking about forming your property investment team

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