Getting private money lenders to buy into your real estate investment is vital to being a successful investor. It is getting much too difficult to turn to traditional lenders in order to get a mortgage, after all. Nowadays, your credit score has to be beyond perfect and you must be able to prove all your income and outgoings. This can be incredibly difficult and it is making the world of real estate investing almost impossible to get involved in. Sure, there are some hard money lenders out there, but they are now few and far between. So how do you still become successful in real estate investing? Through private money lenders!
How Do You Get Private Money Lenders?
There are a number of very simple marketing techniques you are able to use to attract private money lenders to you. Once you have managed to get their interest, you can set up meetings with them to outline the various advantages you offer them if they do choose to invest. Here are four strategies you can use to market yourself.
First of all, you need to have good quality business cards that speak to private lenders. The back of your card should highlights some of key features of your program and the benefits of investing through you. Make sure there are details on your card in terms of your website and how they can contact you for further information. The benefit of doing this is that if you do get contacted, you immediately know that you have a strong lead. Business cards are a much overlooked tool that can really make a huge difference to you.
The Elevator Speech
You have to arm yourself with a speech that you can deliver in just 30 seconds, just in case you run into an investor unexpectedly, for instance in an elevator. You need to be able to make a killer sale in just those few seconds and, again, highlight the key features and advantages of doing so. A good speech will really get people’s attention.
Have a number of one page flyers printed and leave these in key places such as lobbies, bulletin boards, community centres, financial advisor offices and so on. The flyer should again highlight all about you and have clear contact details that people can use. Make sure the flyer announces something and that it has an eye-catching design.
Finally, it is all about networking. If you hold your 30 second speech but the person you are talking to is not interested, pass them your business card and ask them to pass it on should they know somebody. Ask those who you have worked with in the past to put a good word in for you if they ever come across a private money lender. Talk to people you know, who may know someone who is looking to invest. Networking and communication is key to being successful.