Web 2.0 & Real Estate Investing!

General Real Estate Investing
1

I’m just wondering what everyones take on Web 2.0 is when it comes to Real Estate Investing. This question is geared more towards the online marketing element of Real Estate.

I’m putting together a Newsletter and I wanted to discuss Web 2.0 and Real Estate Investing, however, I just wanted to get the opinion of some fellow Real Estate Investors who are active in Today’s Market.

Please vote and then leave a comment on why you voted the way you did. As I’m sure other’s will be curious about your insight…

2

What exactly is Web 2.0 when it comes to real estate investing?

This topic is all over the web and its kind of vague like when talking to an SEO company about what they actually do.

3

Generating leads from the internet/website is just one part of marketing/lead generation for any business let alone REI. We have found that our internet leads tend to be properties that
people want to sell for ~80 - 90%arv, we get our 30 - 75%arv deals from other forms of marketing.

Web 2.0 is just one part of the puzzle

4

What part is web 2.0? Just curious…

5

I’m glad this was said, as I think it will really justify my point. I think Web 2.0 could have a very significant impact on real estate investing if Web 2.0 developer(s) implement their sites properly.

6

Here is a very basic video explaination of Web 2.0

It doesn’t touch on the Real Estate aspect, but I’m sure you can think of creative ways to market your self as an investor, or market your properties, or network with others.

Web 2.0 isn’t really new, but it’s just being hyped up that way. And the reason is because it’s growing and soon it will probably be a household name… maybe :slight_smile:

You may already be using some aspects of Web 2.0 and not even realize it yet… I’m willing to bet that if you use the internet, then you probably are. lol

This isn’t something to be intimidated by. Again, the point is just to leverage technology and the internet as much as possible to help in not only real estate, but any business.

Here is that video. Again this isn’t real estate specific, but if you consider yourself an Entrepreneur then you’ll likely get the picture. :cool http://www.youtube.com/watch?v=6gmP4nk0EOE Watch the whole video because it becomes more clear towards the end…

I’m just trying to get an idea of what you guys think… It’s part of my “study”.

7

Lamar - interesting video. However it doesn’t really describer Web 2.0 (at least not for me). I googled the term and found this definition in Wikipedia:

Web 2.0 is a term describing the trend in the use of World Wide Web technology and web design that aims to enhance creativity, information sharing, and, most notably, collaboration among users. These concepts have led to the development and evolution of web-based communities and hosted services, such as social-networking sites, wikis, blogs, and folksonomies.

So it seems that web 2.0 is anything that allow us to interact with others in the web. This forum would be an example of web 2.0???

Have a nice Sunday!

8

“Web 2.0” is a marketing term that just describes the generation of websites that were designed with asychronous data transfers OR with social networking/community-contribution themes…

The first (async data xfers) just means you can interact with the website without having to reload the entire page. For example, dragging a google map around.

The social networking/community-contribution themes are things like wikipedia, youtube, craigslist, facebook, myspace, linkedin, etc.

It’s been my professional experience that the only people that actually use the term “Web 2.0” have absolutely no idea what it means. They just know its the newest buzzword. The term is so vague that you could make a convincing argument either for or against this website being “Web 2.0”

You might want to open the scope of your article to consider how the internet as a whole will change REI.

Either that or narrow it down to a specific KIND of website, such as free classifieds pages (craigslist, backpage), research sites like county auditor pages, online “discount brokers” like redfin, web-based tools for prop management like handling maintenance requests, tenant applications, marketing… or social networking websites like facebook, myspace, and linkedin…

If your audience will be someone clueless from a technical standpoint, then you can use the Web 2.0 phrase and possibly dazzle them, but if its going to be the general public, where you might have technically savvy people reading, I’d avoid the phrase myself.

Hope that helps.
(disclaimer: I’m a software engineer)

9

“…aims to enhance creativity, information sharing, and, most notably, collaboration among users…”

Sounds kind of like the original internet ideas :slight_smile:

I do a lot of design, not so much programming. To me, web 2.0 is a new design style with more horizontal display of info and the length of a page isn’t so much an issue any more. It seems to also use lots of big fonts and shiny gradients. I like it.

10

Web 2.0 can be used in any venue/platform. You can setup profile sites on such Web 2.0 sites such as MySpace, Facebook, Digg, Twitter, etc. How effective they are depends on your marketing strategies.

The simplest definition of Web 2.0 is those sites that allow the publisher to interact with its users in a two-way communication. What makes it so powerful is the fact that users can provide instantaneous feedback and develop relationships with everyone in the community.

I do, however, believe that Web 2.0 is better suited for those looking to invest in online real estate. I’ve done both and investing in websites and then “flipping” them is probably the most lucrative thing you can do to make money online - legally.

Hope this helps.

11

it is a great way to network with investors, realtors, and such. It could also be used as a source of leads if you blog on housing problem for example and eventually you get your blog infront of people in your area, but I would not depend on it as a main source or expect results.

I am starting a blog for networking purposes but not to generate leads, at least not seller leads.

12

OK, this may get a little long but here is my insight on it! :cool

Web 2.0 is currently used in a lot of Social Networking Sites.

Web 3.0 is already being talked about in “Certain Circles”

The best way to understand it with out being technical (because I am a layman
when it comes to the webmaster stuff) is to see it all
as part of a tool box. Lets say you have a regular flat head screwdriver and
that is = to WEB 2.0.

Then you upgrade it to a battery powered screw driver which then may
be consider to be = to the New Up comming 3.0

The point is that they are all just Tools in your box that can be used
to work on or build many things. The tool is not as important as is how
you use it.

Specific examples:

I am an investor of a social networking site that is set up on Web 2.0 that has
nothing to do with Real Estate at all. Just my profile on this mentions it. The site is www.Ojeez.Com but it
never really caught on Like My Space, or Facebook did
since it was geared to Network marketing. Now the team is working on using the
technology for “White Label” or “Private social company networks”

(Hint the next BIG thing to hit the web world over the next few years)

OK, then you have the new kids in the game like the ever pleasant techie guy
Joshua Reed Dorkin of www.BiggerPockets.com it has some promise, but Josha has
the tendancy to act like a real jerk sometimes. Hope he outgrows that.

At least Tim Randle and Hal (Both Great Guys) on www.ReiClub.com will give you a very nice and attractive FREE T-Shirt if you write and post your honest to God success story on the site.

Success Story Example (sorry its over 3 years old)

http://www.reiclub.com/success-stories.php?id=40

The only fly in the pie is some of the Moderators are a bit harsh, and you all know who I am talking about.

There about 10 large Real Estate Forums out there each with their own niche. The one that is the largest in the world CRE is a maketing monster.

www.ReiClub.com I think is still the second largest and seems to offer the most hard
core info. Who knows maybe at some point Tim Randle will go to Web 2.0 but "If it ain’t broke don’t fix it)

I even started my own private Forum driven Forum (no ads - no profit - just networking at this point but it is already attracting a LOT of attention juding by my inbox and answer machine)

So lets Recap:

Hope this helps explain a little more about Web 2.0

Now stop reading this and go out and submit at least 3 offers today! Then make sure to write
about your success here on www.ReiClub.com

13

:biggrin

14

In my opinion the Web 2.0 spin on real estate is all about distribution.

Distribution: Never before has an investor, FSBO, or Realtor had the ability to reach the number of folks with minimal effort. In the past, an investor who was buying or selling had to rely on the local paper(s). Your hope was that the right buyer (or seller) happened across your ad that week. It wasn’t cheap to put out there and certainly wasn’t cheap to keep it out there. With the distribution available due to XML and other technologies, it is easier than ever to reach a massive audience. You aren’t just posting an ad/listing to a single site that might never be found. You can post to a single site that will distribute your listing to many.

Measurement and tracking: In the past, when it was all about the local paper(s), you would have some sense of what drove a person to your door. With the web, and all of the tools available, the level of precision is high. Within a couple of weeks (sometimes days) you have a feel of whether something is working. If you use the tools properly, you can spend with the top tier PPC sites (Google, Yahoo, and -maybe- MSN) and track effectively.

Free Tools: Did I mention that the distribution and tracking can be done for little or no money? With the high level of competition, there are plenty of Web 2.0 companies who will provide services for free knowing that the ad space, or membership benefit, will pay off in the long/short run.

Hope this gives a little insight into how some of us view things. Good luck with your newsletter.

Bob L.

15

Thank You Everyone for your input whether for Web 2.0 or not.

I honestly think it’s an awesome opportunity to be able to Network and take your business far!

My brief Web 2.0 study is now complete. If you want to check it out go to
to my blogspot, listed in my signature below.

I’ve also included a special Web 2.0 interview call with Social Media Marketing Expert Alisha Wright that I attended last night. It was amazing. Don’t worry nothing was sold on the call, it was just PURE CONTENT!

Let me know what you guys think. Again, this study is just a brief overview. I reccommend you get started ASAP! Heck, it’s mostly Free anyway!

-Lamar

16

Lamar, very nice blog dude… keep up the good work :slight_smile:

17

Thanks Fadi! Your blog is so much better. Did you create it yourself?

18

Kind of… $2.99/month hosting at 1and1, using free WordPress blog with a nice template… they have hundreds of templates to choose from… I figured I wanted my own identity and domain name.

19

You know, the more I think about this topic, the more I think people are missing out on it…

Ignore the label “web 2.0” for a second because thats just a title… The reality is that businesses have moved to the Internet and will continue to do so.

Years ago, Yellow Pages were the best source for services. If you wanted to find something, you went to the yellow pages.

When the internet came about, and due to many limitations such as bandwidth, cost of computing, and ability to perform proper search the adoption was slow however, companies started moving to the web slowly…

At first, websites were just big brochures and business cards online… we went crazy with nifty images and graphics… the better looking the website was, the prouder we felt… but that was about it… some businesses were smart enough and added description of their services… Marketing departments were (and some still) behind the trend and continued to believe that marketing cannot be done online.

Those of you who got online in mid 90s may remember the virtual malls that were popping up all over… Some tried to take the physical implementation online… and obviously failed…

Then came google and similar search engines that solved the problem of location and categorizing business’ services.

But the problem of content still existed… There was this notion that a website must contain pretty pictures, be designed certain way, and we ended up boxing the concept. Sadly, many still do the same today… Many of the websites are just that… a large useless brochure or business card…

With the higher adoption of computers due to speed and cost, the more opportunities there are… Today, Forums… social networking… Facebook, myspace.com, and blogspheres solved the second issue with websites… Websites are not just static pages…

People do not go to websites to look at pretty pictures… (porn does not count!)… We browse the web for information… We don’t buy magazines and newspapers for the ads… we do for the articles…

Your choices are clear… join the new trend, or be left behind… We are in the Internet age, and it will continue to move in that direction… While we may not know what the next step is, we need to take the best guess and try to join it rather than resisted (it is a huge paradigm shift for some).

Start your own blog and write 5 to 10 posts a month… make it related to real estate… in a year or two or three from now, and if the bets are right… you will have a huge content that may attract audiance to come to your site and read for a while. Even if the content may not be relavant by then, the perception would still be there and you will be well established.

The term web2.0 refers to the new way people are using the web now a days with the social networking and blogging… it is about how we moved from the static content to more of dynamic content and how we are more and more moving online…

20

You may have jumped into real estate investing with one eye on your dreams and the other on your potential to become fabulously wealthy in a very short time. While it’s true that it’s possible to become the richest person you know, the reality is that it will probably take time to happen. Another reality you may not have considered is that as a real estate investor, you also wear another hat: professional marketer. If you can’t devise a winning online and offline marketing effort, your dreams will be largely unrealized and your destiny will be held hostage by unfulfilled potential.
There are a number of offline marketing strategies you can employ to encourage possible buyers and sellers of residential real estate to contact you. Some of the most common ones are:
• Bandit signs
• Radio & television ads
• Brochures, flyers, and billboard signs
However, to turn the corner with your marketing, you can really ramp up your offline marketing strategies by establishing yourself as a noted real estate expert within your local community. There are three great strategies for doing this:
• Local media interviews – The best way of getting your name in front of News Directors and Program Directors is by issuing pertinent press releases. They need to be well-written and they need to discuss newsworthy issues of importance to their viewers. Once you’ve begun to establish yourself as an expert in your field your phone will ring more regularly. These media appearances can increase your exposure and improve your name recognition which can result in increased investing deals because of your perceived status as an expert. Many people with whom you’ll be trying to buy properties from or sell properties to will know your name – and be more willing to trust you – as a result of your prominence within your local community.
• Seminars – Giving free seminars in a real estate-related niche can increase the size of your portfolio. As a residential real estate investor, you could give a free seminar about topics as wide-ranging as “How to Sell Your House for Your Price in a Down Market” to “How to Buy a House with Bad Credit.” The key here isn’t to directly market yourself. Your goal is to come across much like a financial planner. Show your clients what you know – and how you can help them – and they’ll gladly show you their money later on.
• Public speaking – This may not seem like a natural offline marketing strategy, but it has potential you may not have considered. Most people aren’t natural public speakers; if this identifies you, don’t despair. Join your local Toastmasters club and learn the fine art of public speaking. While you’re learning, you’ll be exposed to business and community leaders (many with cash) who would be prime candidates as potential investing partners or sources of private cash for long term investments or down payment and rehab funds.

Online marketing strategies are like gifts that keep on giving because the overall costs are reduced. This allows you to cast a wider net and increase the area in which you invest. In addition, you’ll be able to build buyers lists and prequalify prospects without an investment of time, which is one of your most precious commodities.
Effectively reaching potential clients with online strategies increasingly demands that you have a website of your own, in order to prescreen prospects, build buyers lists, and to gather other vital information. None of these efforts mean a thing if you can’t figure out how to drive Internet traffic to your website. Your online efforts will generally revolve around two basic strategies:
• PPC – Pay Per Click campaigns are a good way of getting visitors to your real estate investing website. However, if you don’t carefully analyze your target demographic and get crystal clear about which words and phrases you wish to bid on, your expenses could explode and you’ll have nothing to show for it. Google and Yahoo have helpful analytic tools that can help you determine what words and phrases make the most sense for driving paid traffic to your website. In addition, they also offer the ability to target traffic based upon geographic location of potential clients, so your ads would only be seen by those most likely to be good targets.
• Organic placement – This form of marketing won’t cost you a penny, but the competition for top ranking can be fierce. The key to achieving top ranking is by having content on your website that is relevant to the needs of your site’s visitors. While SEO can play a role in your search engine rankings, you’ll have greater success by ensuring that your website has great content. Resources related to real estate investing – articles and ebooks about wholesaling, short sales, rent to own, or whatever areas in which you concentrate, can gain you improved ranking by the search engines. Concentrate on relevant, high quality written content and you’ll be rewarded with traffic. The increased volume of traffic will mean you’ll gain more prospects, which will generally translate into more buyers and sellers for your residential properties.
While your online and offline marketing efforts will differ, in many cases you can tie them together for maximum effect. For instance, any offline marketing materials will have physical contact information. If you can include a catchy and memorable web address, you’ll increase your exposure to potential clients while reducing the legwork necessary to pre-sell them on doing business with you.
Marketing your real estate investing business may seem like a waste of time and effort, but by paying close attention to these efforts you can win over potential clients, increase the size of your portfolio, and move yourself closer to realizing your dreams. If you’re not familiar with the marketing strategies you want to employ or you’re at all uncomfortable with your knowledge of specific real estate investing techniques, you should consider finding a good mentor that specializes in the type of investing in which you’re most interested. Their experience and guidance can set your mind at ease and their wise counsel can help get you on your way.