Recently I wrote an article titled â€œThe 4 Ways to Raise Private Money for Real Estate Investorsâ€ where I laid out the top 4 ways to raise Private Money to grow and develop your real estate investing business. One of the 4 ways we use and teach to our students is one-on-one breakfast meetings.
If you are not comfortable with group meetings - one-on-one breakfast meetings are a great alternative.
I generally recommend a breakfast meeting in a quiet restaurant where you can have 30 to 45 minutes of time with your prospect. At these meetings you need to lay out your private lending program and benefits of investing with your company.
It is important that you have a good presentation kit or creditability kit before you go into a private lender meeting. This can be a PowerPoint presentation where you lay out your business plan, your background and why it makes sense to invest with your company. You also need to have some sort of creditability kit where you lay your past deals, testimonials, educational experience or certification and any other information that lays the ground work for why you are creditable and trustworthy. Do not go into this meeting with out some sort of information and just â€œwing itâ€ as you go. This looks unprepared and will not leave a professional image.
During the meeting you need to develop a rapport with the potential lender. Without rapport nobody will do business with you. It is very simple - people do business with people they like so take the time to develop rapport before going into your presentation. At the point where you have developed rapport start going through your presentation and allow questions as they will assist the private lenders understanding and allow the rapport process to continue to develop.
It is important that this meeting is about information not an actual hard sell. You need to educate the other person first about your program and the benefits of investing with your company. I would not make an actual offer at this meeting. Wait to a couple days after the meeting to discuss a specific deal or invest opportunity.
I would recommend that 2 or 3 days after the meeting that you email, call or mail something to the person to see if they have any follow up questions and start to mention a possible investment opportunity. Even if they do not invest right away continue to send follow up information as you never know when the time is right so stay in touch.
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