Hello, I am in the middle of Steve’s book and all I can say is Fantastic!!!. I am new to property investing and I am trying to raise some funds to start.
One idea I had and wanted your opinion was to start a business in developing property marketing cd’s and DVD’s. The idea I had was to create these products for Real Estate agents to use for marketing houses for sale. The CD/DVD will contain a short video on each property.
I thought a marketing tool like this would be valuable for investors looking for properties interstate and do not have the time or funds to inspect the property in person. They could simply request a CD or DVD from a Real Estate Agent or private seller to be sent for evaluation.
I already have all the equipment I need to start. I wanted to know what your thoughts are on such a product. Do you think I would be wasting my time? Do you think that this kind of product would not be a viable solution to marketing a property?
I have heaps of ways to market this type of product to interested buyers and sellers. I even thought of creating a DVD on how a wrap works for people interested in buying a house but cannot because of not being able to obtain a bank loan.
Thanks for your thoughts I am really keen to start work on this project, which hopefully will give me an income I could use to invest.
Thanks for your comments.
Ivan.
Hi Ivan,
Thanks for your post… welcome to the community and I’m delighted that you are enjoying the book.
I’ve moved your post to property plus as it is more appropriate there.
Sure – I could find 1000 reasons why it won’t work… but the key for any new business is to focus on reasons why it will work.
I think you would be offering a product for a niche market. For example, you may find that you could find great demand in offshore investors who can’t get here to inspect property but would like to have CDs.
My preference is for you to provide the technology direct to real estate agents rather than having to market the CDs too.
It’s always a good idea to value-add, so what else could you do to the property analysis to help the investor? Eg. provide demographics info, median house price data, financial analysis etc.
Be careful to include disclaimers etc. too.
Give it a try and see what happens.
Cheers,
Steve McKnight
**********
Remember that success comes from doing things differently.
**********Steve McKnight | PropertyInvesting.com Pty Ltd | CEO
https://www.propertyinvesting.comSuccess comes from doing things differently
Hi mmworld,
I think the idea is great, but your in market were there is too much competition already. Maybe you would be better off, doing a dvd about Wraps, im not into wraps, but i know, many people out their dont know what it is, but would be curious to know.
Not much help here, but you are in a very competitve market right now.
cheers,
s.i.sHello mmworld
I started developing exactly the same thing you’re suggesting two years ago… I’ve got a few partners who I’m working on it with…
We’ve gone down the track quite a way, producing prototypes etc, I come from a TV background at Channel 9, and they’re ex-journos who have started up their own business doing a variety of media-related things, so doing videos of a pretty good quality isn’t too hard for us.(actually it’s bloody good quality[
])We got sidetracked with different things for the last 6-9 months of 2003, but I had a call from one of the guys the other day, and their publishing business now has the contract to produce mags for Hocking Stuart in Melbourne, and John McGrath in Sydney. So we’ve got the perfect “in” to try and get it off the ground.
There are many logistical and pricing issues you’ll encounter in trying to “sell” the product. I’m not going to outline them all because we’ve spent too much money and hours working on the idea ourselves.
Having said that though, I’ll try and answer any questions that I can, without giving too much away.Just out of curiosity, what type of camera/editing package are you using?
Cheers
rHi,
What I should also say is that most businesses fail because they have supply but no demand and need to use debt to fund losses.
What I try to do is let demand drive supply.
In your context, you need to have orders before going down the track and outlaying too much $$$.
As Richmond says, you’ll need a prototype, but sell the concept rather than the product and get some money in to cover R&D costs.
Richmond – mate, that seems like a good client base. Not sure about the wraps dvd though as that is more educational than it is sales related. There would need to be a new angle and I’m not sure the cost warrants the product given the limited demand.
Cheers,
Steve McKnight
**********
Remember that success comes from doing things differently.
**********Steve McKnight | PropertyInvesting.com Pty Ltd | CEO
https://www.propertyinvesting.comSuccess comes from doing things differently
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