Housing-News-Report-July-2017

HOUSINGNEWS REPORT

MY TAKE

So let’s jump in. These 12 steps are what you need to do to ultimately get yourself in a position to present private lenders with a real estate investment funding opportunity and get them to fund your deals so you don’t have to risk any of your own money. 1 Create a Project 100: make a list of 100 prospective private lenders or referrals starting with family ranging all the way to the guy who makes your coffee at Starbucks in the morning. Don’t count anyone out, everyone has the same goal — to save money and invest it wisely. Your goal is to become the top-of-mind reference for everyone you know so they will buy from you and sell to you, refer deals and investors to

interested and have questions for you to learn more about the opportunities you offer. You must create your “Private Money Partner Elevator Pitch“. 4 Create your money magnet pitch book and marketing collateral: get a three-ring binder and fill it with important documents you’ll need to share with a potential private lender: for example mortgages, notes, summaries and a Private Placement Memorandum. 5 Develop a system for tracking your private lenders: invest in a CRM database. I use Infusionsoft, but you can also use Google docs or an Excel spreadsheet if you can’t afford to pay for a service.

you, loan and invest with you, or even just cheerlead for you.

2 Make a second list: this time, write down all the places you can go to meet potential investors and partners — from the obvious places like your local real estate investment club meetings to the not-so-obvious places like the gym or local grocery store. Think about social groups, golf courses and country clubs, etc. 3 Tell everyone what you do in a cool way: you have to be able to tell everyone in your family, all your friends and anyone you can come across on a regular basis what you do in a cool way. Nine times out of 10, they will be

These 12 steps are what you need to do to ultimately get yourself in a position to present private lenders with a real estate investment funding opportunity and get them to fund your deals so you don’t have to risk any of your own money.”

10

JULY 2017 | ATTOM DATA SOLUTIONS

Made with FlippingBook Online newsletter