Today there are a big number of real estate investing companies and new investors chasing private mortgage lenders to help fund their deals, so how can you get the edge and present your opportunity in the best way?
Everyone is marketing on the web today and while it is a great way to reach potential private money lenders if you can make a personal connection you will have the advantage. It can be a big leap for a total stranger to find you on the Internet and grow to like and trust your real estate investing business enough to give your their money, especially given the current housing market. So if you can meet in person you will find that it is a lot easier to get a commitment. This isn’t always possible or necessary, so when you can’t, consider putting on a live webinar so that you can still give potential lenders some face time.
Having a passion for the opportunity you are presenting will make all the difference in being able to get them to move and become a private money lender for you. Your energy level and excitement about your real estate investing activities and the results you have achieved for others can transfer this charisma to potential private mortgage lenders and get them to act immediately.
Don’t Act Desperate
If you come across as being desperate and really needing the money it will probably be interpreted as you aren’t doing to well right now. Why would anyone want to loan your real estate investing company money if you haven’t succeed with what you have already? It is OK to be a little laid back, present the opportunity but don’t beg for the close. Act as if it is a privilege for them to be invited, but you don’t need them.
Lean on any negotiation skills you have learned. Learn to read your ‘opponent’, learn how to mirror them and talk their language and when to go for the close.
Let The Numbers Talk
Let the numbers do the talking. Create a nice presentation that lays out your strategy in black and white, or even better in color. If they make sense and offer a better than return they are getting elsewhere, why wouldn’t they want to partner with your real estate investing business?
At least 50% of any type of sales is listening. So sit back, hear their questions and roadblocks and then solve them so that you can both profit from real estate investing together.