The Power of a Recorded Conference Call When Raising Money

[Joe Fairless]

This is going to be a super simple lesson and you might say "duh" and, if you do, then I don't blame you. BUT, it's something I didn't do on my first two multifamily syndications (168 unit and a 250 unit) and I figured if you don't currently do it either then it would help you out when raising money. 

Here's the tip:

- Have a conference call with qualified investors to talk about your deal and...record it! 

I'm in the middle of raising money for a 155 unit apt community in Houston and decided to have a conference call with my biz partner to present to accredited investors. We did one of them on our last deal when we bought a 250 unit apt community but we didn't record it. 

For this one, I recorded it and it's been tremendously helpful with raising money for our deal. 

Two reasons why a recorded call is helpful: 

1. Most accredited investors are, well, busy making money which is why they have the money to invest. So this helps them listen to the presentation on their schedule. 

2. The questions being asked are from a group of people which is beneficial to others who are listening but didn't think of those questions 

Here's how I do it: 

- First, I make sure the attendees have the presentation prior to the call so that they can review and come up with questions 

- Then I use Freeconferencecall.com (I have no affiliation with them) and simply set up the call 

- During the call, I have the attendees email me questions. That way I know who is asking the questions and I can follow-up with them afterwards. 

- We do a Q & A session at the end and answer all the questions that are asked 

As you're raising money I highly recommend this simple approach as I've personally seen a benefit and confident you will too.