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I’ll start of bluntly. Social Networking is a huge time sucker… because it’s about making “friends” (who are not really your friends). In order to forge real relationships with social networking sites you’ll need to devote massive energy to it.
A lot of real estate investors are using Twitter and Facebook. They’ll want to be “friends” with you to try to recruit you into their deals. As an investor yourself you’ll get a lot of other investors “friending” you in hopes of getting your friends for themselves and recruiting them into their own deals.
Now the question is not whether this is fun. It clearly is fun because a lot of real estate investors do it. The also spend all day on their blackberries and Iphones following people on Twitter and Tweeting about what they just ate.
Facebook – it’s new, it’s entertaining… but is it effective, measurable marketing?
In my opinion it’s not. You don’t have to agree with me. You can test it for yourself. I recommend tracking your time investment.
Why Social Networking is a Awkward Marketing Solution for Real-Estate Investors:
The Fake Friends Factor. You’re sharing your lists or “friends” with everybody else basically