Private
Lending: How One-on-One Breakfast Meetings Can Give You All the Money You Will
Ever Need For Real Estate Investing?
Recently I wrote an article titled “The 4 Ways to Raise
Private Money for Real Estate Investors” where I laid out the top 4 ways to raise Private Money to grow and develop your
real estate investing business. One of
the 4 ways we use and teach to our students is one-on-one breakfast meetings.
If you are not comfortable with group meetings - one-on-one
breakfast meetings are a great alternative.
I generally recommend a breakfast meeting in a quiet restaurant where
you can have 30 to 45 minutes of time with your prospect. At these meetings you need to lay out your
private lending program and benefits of investing with your company.
Pre-meeting – It is important
that you have a good presentation kit or creditability kit before you go into a
private lender meeting. This can be a PowerPoint
presentation where you lay out your business plan, your background and why it
makes sense to invest with your company.
You also need to have some sort of creditability kit where you lay your
past deals, testimonials, educational experience or certification and any other
information that lays the ground work for why you are creditable and
trustworthy. Do not go into this meeting
with out some sort of information and just “wing it” as you go. This looks unprepared and will not leave a
professional image.
Meeting – During the
meeting you need to develop a rapport with the potential lender. Without rapport nobody will do business with
you. It is very simple - people do
business with people they like so take the time to develop rapport before going
into your presentation. At the point
where you have developed rapport start going through your presentation and
allow questions as they will assist the private lenders understanding and allow
the rapport process to continue to develop.
It is important that this meeting is about information not
an actual hard sell. You need to educate
the other person first about your program and the benefits of investing with
your company. I would not make an actual
offer at this meeting. Wait to a couple
days after the meeting to discuss a specific deal or invest opportunity.
Post Meeting – I would
recommend that 2 or 3 days after the meeting that you email, call or mail
something to the person to see if they have any follow up questions and start
to mention a possible investment opportunity.
Even if they do not invest right away continue to send follow up
information as you never know when the time is right so stay in touch.
Download
your FREE eBook titled "Discover the
Secrets of How to Fund Your Real Estate Deals with Private Lenders" and
learn how to fund your real estate deals with Private Lenders!
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