Step 2 of 6: How to Generate Private Money
Step 2 of 6: How to Generate Private Money
Financing is the biggest challenge for most investors. I previously wrote How to Generate Private Money listing the 6 steps below. Here I will break down the2nd step Face to Face Presentations.Step 2: Face to Face Presentation
Goal: Build trust, credibility and get them to like you.
Solution: Give a presentation. Be on time, professional and respect their time. Small talk for a few minutes getting to know them, find similar interests, compliment them where appropriate. Ask about their investing experience and almost qualify them. Then get into your presentation: who you are, what you do, what is in it for them and details of the opportunity. You can find example presentation all over the internet, customize your own and make it simple and easily understood.
Solution 2: Use a credibility kit to show a track record of successful past deals. That will show that you have experience, expertise and will build trust that you will be successful in future deals. Give them a credibility kit to take with them.
Solution 3: Seminars, Webinars, Conference Calls, even online or youtube videos.
Do's and Don'ts: Make sure all decision makers are present. Do not act desperate. Act like you have a ton of investors, you don't need their money and it is the investment opportunity of a lifetime without being overly cocky of course. Do not ask them for money, rather offer them the opportunity to make a great return on their money. Always ask for referrals.
6 Steps to Generating Private Money:
1. Pitch your opportunity to everyone You are not asking for money, you are inviting people to make a great return on their money. The purpose of this step is to get them excited and begging for more information. Usually just an elevator speech and a success story if needed. Do not answer questions, set up a face to face meeting and present your program. Opportunity awaits the savvy investor.
2. Face to Face Presentation Set up a face to face meeting with all decision makers. At this meeting you can build the most important thing when it comes to generating private money, build TRUST. You can also present using a net meeting if face to face is not possible.
3. Find a great deal, illustrate a win-win, the deal and the risk - Educate interested parties on what is in it for them, the numbers on the deal and how the deal can withstand the worst case scenarios.
4. Play the numbers, all you need is one YES - Do not give up after 3 people, you may need to present it to 300 people before you get the desired results. It is never a bad thing to have people fighting to give you their money.
5. Handle objections, ask for referrals - Learn how to handle objections, anticipate the most common ones. And always ask for referrals. If you are leaving a presentation without a YES you should have 3 referrals.
6. Treat them like your grandmother - Be great to them, not good, great. Also be completely honest and set expectations so you can shatter them.
Real Return Real Estate for years has bought property at extreme discounts, sells and rents with tremendous cash flow. We also provide FREE tips, articles, guides and Educational Webinars. Visit our site http://www.realreturnrealestate.com for all the helpful resources.
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