Tips For New Real Estate Investors!

• Know who you know. You can’t begin to network for investors or anything else for that matter, until you know who is “in” your network. Make lists of everyone you know, how you know them, what you know about them, and who you have met through them.
• Approach networking for investors as you would approach networking for referral business or a new job, it’s really the same thing after all. Change your mindset from looking for money to looking for business. That’s really all you’re doing. This will help take some pressure off of you.
• Go about your search with a systematic plan of action instead of jumping from person to person in a haphazard fashion.
• Create visibility for yourself. Go to Chamber of Commerce functions, etc. on a regular basis so people get to know you. Going only once in a while doesn’t allow you the opportunity to form strong relationship with anyone. It is from those relationships that your network will grow.
• Join and become an active participant in a weekly leads exchange group limited to only one person per occupation. The ones I have operated have lead to millions of dollars worth of referrals for the members. These clubs are gold mines of opportunity for people in your position. Make sure you give lots of qualified leads to the other members. They, in turn, will want to make sure they continue to get those good leads from you and will help you find the investors you are seeking.
• Look at all times as if you don’t need the money. The hungrier you look, the less likely it will be that you will find an investor. If you look successful, you will attract what you are seeking. If you look down on your luck, you will attract a mass exodus from your vicinity.
• Be clear about what you need and why you need it. Don’t expect others to figure out how to help you.
• Know your product or service inside out. Be able to answer any question, no matter how off the wall, with a clear answer. Your prospective investor doesn’t want to hear you droning on and on about your business. They just want you to cut to the chase.
• Make your pitch a whine-free zone. Nobody wants to hear about the ten banks that turned you down. They want to listen to positivity and enthusiasm.
• Tell the truth. Don’t exaggerated, and be able to substantiate any claims you make.
• Remember that money is still a touchy subject. Never push anyone beyond their comfort zone. It will come back to haunt you.
• This above all else……Know (What’s In It For Me?) Think like your potential investors. Know how they can benefit from their investment. If they’re sold on you they can easily become your strongest ally in helping you find other investors. If they think you’ve got something great, they’ll want to recommend it to others and look good in the eyes of their network.