Let’s face it, money does not disappear, it changes hands. So where is it? There is so much money sitting on the sidelines or in investments making little or negative returns. Many of these individuals would love to have a double digit return backed by real estate. Here are some keys to get more Private Money then you could ever need. If you find this information helpful, you can download a Guide on How to Raise Private Money at www.realreturnrealestate.com.
- 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.
- 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.
- 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.
- 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.
- 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.
- Treat them like your grandmother – Be great to them, not good, great. Also be completely honest and set expectations so you can shatter them.