NOTES with Jay Conner Success
What to Say to a Potential Private Lender
W hen you’re new to real estate investing, approaching a potential private lender can be a little intimidating. Many students have come up to me at events or reached out over social media to ask about what they should say to private lenders. Over the years, I’ve found the best way to start the conversation is through the use of my proven scripts. The script I have for you today is geared towards starting the conversation about private lending with individuals in your warm market or circle of influence, like a co-worker or someone you go to church with. For example, let’s say you are going to call your friend, Darren. When he answers, you would exchange casual chit chat for a while, but then you get right into the script: As you may know, these days I am now investing in real estate, and I’m taking advantage of the tidal wave of foreclosures still coming into the market. Darren, what I’m about to tell you, very few people know about, because the only way they find out is, quite frankly, if I tell them. I am opening up my real estate investing business to people I know and trust. Darren, I have a program that may or may not be for you. You see, I am now paying up to 20 times more in returns than people can get through other traditional investment resource. But, unless you say yes to the following question, there’s no need for me to send you any additional information: Do you have investment capital or a retirement account that’s not getting you a high rate of return safely and securely? This script is short and simple, but very impactful. In the first three sentences, you communicate to potential private lenders you’re letting them in on a secret while anchoring the fact that you and the lender have a trusting relationship. Next, you clarify you’re not trying to sell or close them on anything and are just providing soft
information. Lastly, once you ask the big question, the next step is to keep quiet and let “Darren” answer the question.
Jay and Carol
If Darren says no, you know he’s broke and in all probability, if he does have investment capital, it’s not giving him a high rate of return. However, if he says, “Yes, I do have investment capital,” then you have opened up the door to talk about private lending. When I use this script and someone answers yes, I follow up with, “Well, I have a 16-minute audio recording that gives an overview of private lending and what it’s all about. I’ll be glad to send that to you.” I am of course referring to my recording “Stress Free Investing.” In my 14 years of experience, this script has proven to work very well and is one of many I use to reach out to potential private lenders. There are other scripts I’ve developed, including scripts for people on your team to use so you don’t talk to private lenders yourself until they have already said yes. I have more information about these resources, including the 16-minute recording, at www.jayconner.com . You can also follow me on Twitter at the handle @JayConner to stay updated on additional resources and ask other questions you may have about approaching potential private lenders.
– Jay Conner
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