Marketing to Your Niche:
Due to what I do for a living, most of my interactions are with real estate related professionals. All are at different stages in their careers. I find it fascinating how some are left on their own to figure out their business model; and then others are receiving the proper mentoring and guidance.
I had a discussion with a couple of them this past week; and we ended up talking about how to use your passion or experience to gain access to their niche market. One was passionate about the music industry. And, she has figured out that she has a natural market there that knows, likes and trusts her. She gets to be herself; and then she gets to help the folks that fit her best.
Then the second person had just started in the business about 5 months ago and has received little to no guidance. Now he comes from the construction industry. I spoke to him briefly and determined he has not done any business yet at all. To me, I see him as trying to be someone he is not. I only had a few minutes with him; and I attempted to guide him quickly to work his natural market. Hopefully, he will find more support (or find another company that knows how to guide him properly).
These are but two examples of what can happen. One is set up to do great; while the other has a long way to go. We all have unique talents and background. Sometimes we want to work too hard to please everyone versus just helping those that fit us best. I believe if more would focus their efforts on their niche, then success would be achieved much faster.
Investments Opportunities for Purchase with Strong Cash Flow:
If you assume investors in the Bay Area are getting a cash flow of 3.5%, then you can see the potential improvement with these properties above. This approach is great for the investors desiring increased cash flow, an opportunity to get out of daily property management, and/or taking the challenges of rent control off the table. Should you wish to discuss any of these or others, then give me a call.
Articles of Interest:
NREI also shared “Despite Rising Interest Rates, Real Estate Offers Opportunity to Investors.”
The SJ Mercury News reported “Cupertino offers up its own plan for defunct Vallco Shopping Mall.”
|Apartments||4.385% – 4.980%||3 to 10 year (30 yr amortization)|
|Commercial||4.705% – 5.280%||3 to 10 year (25 yr amortization)|
|SBA Lending||Call for Options||Call for Options|