Everyone is looking for ways to make extra money these days, right? Yes, and understandably so. It's gotten to be so expensive to live these days. At one point everyone was driving for Uber and Lyft, and now, it seems like everyone is starting their own businesses, especially since the emergence of the COVID-19 pandemic.
Cleaning supplies, toilet paper, and hand sanitizers skyrocketed (they've since gone down to reasonable prices now), but with winter approaching, it's predicted that those popular items could see another price increase. And it's expected that heating costs will rise as well. So it's pretty reasonable to understand why people are wanting to find additional sources of income.
You, of course, still have the option of driving for a rideshare company or taking on a second job but it's much more reassuring to find something a little more stable and guaranteed but less taxing as well. That reason alone is why more and more people are looking into real estate investing.
Real estate investing isn't necessarily a simple process of buying a house and renting it out, per se. It will require some work on the front-end from you, like securing a rental loan, finding the right property, and finding great prospective tenants... That part will, again, require some work on your end, but the part of it that is going to require the most work is the aspect of finding great tenants.
Why is that the part that will require the most work?
Because it's how you're going to find your source of income through the tenants you rent to... and ideally, you want quality and reliable tenants. You just have to make sure you're being fair in your tenant selection process to ensure you're not violating any area of The Fair Housing Act.
Now, to market your rental property means you're going to be advertising in real estate, and that means that you can't just market the traditional way... you have to enter the world of social media to really reach your target audience. Take a look at how to market your rental property on social media.
First Things First, Know Your Target Audience
Do you want to market to a growing family or to a single-family? Are you open to renting to college students and roommates or do you prefer elderly couples with established finances? The biggest thing here is to have a clear understanding of who your ideal tenant is and base your marketing tactics on that.
Create a Social Sharing Plan
Planning is key here. Just like you wouldn't start a renovation project without knowing how you want that project to look, you wouldn't start a social media campaign without identifying the goals you hope to accomplish from it.
Are you looking to increase awareness about your properties, increase conversions by acquiring more tenants, or build engagement? The goals you have for your rental properties are what's going to be a determining factor in how you execute your marketing campaigns.
Make Sure All Contact Info is Easily Accessible
How will you get more tenants from social media if they can't get in touch with you? You won't, and that's why it's important to make sure your contact info can easily be found on your profile. Before you start sharing posts, pictures, or adding to your stories, make sure your contact info is updated, whether you use Facebook, Instagram, or both.
Also, be strategic in how you list your information. If you prefer people to not call you directly just yet, list your email address and promptly respond to messages within the social media page.
Share Useful and Helpful Content
Promoting your properties is, of course, the main objective but people want to know what else you have to offer as well. As a real estate investor looking to rent your properties out, it would be beneficial to your followers if you shared different things you learned from your journey.
Maybe once or twice a day, you share informative posts on topics of how you can get started in real estate investing, how to stage a rental property for showings, or what guests expect in vacation rentals. This will show your followers that you're not only about business, but you're about helping others as well by sharing what you know.
Feature Your Properties
Of course, you want to make posts about your actual available properties. Just be sure to list all amenities and provide a link or "Swipe Up" option to redirect visitors to your online listing. In posting about your properties, you also want to post about when you're having property showings and that they can message you directly to schedule private showings.
There are many more ways to market your properties through social media but the methods listed above are some fairly simple and popular ways to do so. If you're unsure of how to go about doing this on your own, reach out to digital marketing firms for assistance.
