It’s really interesting how much more confidence you have when you’ve already done something successfully. It seems that I’m finding it even easier to talk to people about opportunities to invest with us now that we’ve secured our first private lender. In fact, it looks like we have a second potential lender who is excited about working with us and diversifying her investments! She lives out of state, so I simply spoke with her via phone and shared my investor presentation with her. We’ll be meeting again next week to discuss the timing and details. If the answer is “right away”, we’re going to get busy and snag another rental property in the $50-70K range.
On a related note, I listened to Patrick Riddle’s webinar earlier this week and he reminded us of how simple it is to explain to someone what you do as an investor who is looking for private money. He called it the “Half-Minute Private Money Hook.” He mentioned the following key points:
(1) Tell them what you do in a way that a 2nd grader can understand it
(2) Target pain points [e.g. losses in the stock market; low returns]
(3) Give them your biggest benefit
(4) Get a YES
So for example when someone says “So what do you do?”, you can say something like “I buy, lease and sell houses and using cash from everyday individuals to do so. Typically we work with people who are tired of dealing with losses in the stock market and meager returns in traditional investments. What we do is offer good investment opportunities backed by real estate. Does that make sense?”
Super easy to do this!
On a totally separate note, I’m looking forward to heading to Impact Leadership Network’s (ILN) annual 1-day conference tomorrow in West Palm Beach hosted by the awesome John Maxwell. If you’re not familiar with John Maxwell, check him out and read his books! The last ILN event that I attended was with billionaire Rich DeVos and it was great so I’m expecting even bigger and better tomorrow. I’ll be sure to share what I learned from the event. Have a good night!
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Tags: elevator pitch, John Maxwell, private money, private money blueprint, private money lenders
Leave A Reply (13 comments So Far)
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Bilgefisher
735 days ago
Thats how its done. That momentum is an amazing thing. The more you push towards your goals, the more progress you see. Well done.
Jason
.-= Bilgefisher´s last blog ..Coaches and Probates =-.
Julie Broad
734 days ago
Hey Shae,
Real estate and mountain biking have a lot in common – which is why I use it in analogies so often. In this case you have to push hard and keep going to get yourself up the mountain side. It’s hard. It’s tiring. And you think about just getting off your bike more than once. But then you hit the top and start sailing back down … there’s adrenaline, it’s easier and it’s so fun. You cover group 5x’s faster than you did going back up. It’s amazing!!!
And then you’ll find a new hill to climb … but you’re more ready this time because you know how awesome it feels once the climb is over and you’re just cruising down.
Go get ‘em!!!
.-= Julie Broad´s last blog ..Real Estate Investors: Don’t Eat Your Babies =-.
Julie Broad
734 days ago
Darn… I meant you’ll cover ground 5x’s faster
Not group …
.-= Julie Broad´s last blog ..Real Estate Investors: Don’t Eat Your Babies =-.
Shae
734 days ago
Good stuff Julie! So true!
Jason Wheeler
729 days ago
Business plans that are simple and effective are very helpful. A great exit strategy will also get you money quickly.
Neil Uttamsingh
728 days ago
Hi Shae,
Congrats on securing the private lender. The first of many no doubt!
I just checked out your link to the ‘investor presentation’. Very cool.
Thank you for sharing that.
Onwards and Upwards!
Neil.
.-= Neil Uttamsingh´s last blog ..What value do you bring to a real estate partnership? =-.
Shae
728 days ago
Thanks Neil!
Carey_PA
727 days ago
Shae,
I heard Patricks private money speech before and I thought it was very easy to learn and even easier to implement.
I’ve been using my Dave Lindahl one but I think I may mix it up a bit and try Patrick’s too. Or even combine them.
I want to watch your The transition video but I’m getting ready to have a water fight with Andrew…so I’ll save it for later lol
.-= Carey_PA´s last blog ..Good news with Harkin Amendment plus New Atm Placement for us! =-.
Ned Carey
714 days ago
Congratulations Shae on your first investor. I am sure confidence is part of it but sometimes a synergy of things just start to click and all of a sudden you feel like people are trowing money at you.
Carey wrote:
>I may mix it up a bit and try Patrick’s too. Or even combine them.
I wasn’t totally happy with either Dave’s or Patrick’s. But I have taken something from both of them and molded it into my own. It took my a year of revising before I came up with what I use now. It works and I am completely happy with it.
Ultimately you will do better with something that is your own and fits your own style and personality.
.-= Ned Carey´s last blog ..2010 Anne Arundel County MD Tax Sale =-.
Shae
714 days ago
@ Carey and Ned — I haven’t listened to Dave’s content so I have no basis for comparison, but I do definitely like Patrick’s approach. Thanks for the congrats Ned! I’m not quite at the “people throwing money at me” stage, but I know that we’ll get there and there are tons of opportunities around here to provide great value to all of these investors.
And Ned, thanks for stopping by my blog. Nice to see you here
Brooks
540 days ago
“It’s really interesting how much more confidence you have when you’ve already done something successfully.”
AMEN!
Success Breeds Success.
Shae
540 days ago
That’s right! And I’m looking for a lot more of that success with securing private money in 2011!