Where to Find People with Money for Your Real Estate Deals
Hey there, I’m Julie broad with Rev N You and today I want to answer the big question around raising money for your deals. Where are the people with money hiding? Well, if you haven’t found the super secret place where they all are. I’m going to explain how you can uncover people with money to help you fund your deals. So the first thing is you have to let people know that you’re a real estate investor. I have met a lot of people who keep it a secret from the people. They know that they have investment properties, that they’re taking training to become a real estate investor. You have to let people know! Now I get it at your job, it may not be appropriate, but your friends and your family, they can know what you’re up to and they should because they’re going to help you find those people with money.
- Step one is to let people know what you do. When you meet people at social gatherings, you can say, I am an engineer by day, but I’m a real estate investor by night and soon real estate will be my full time gig, right? Or whatever the case may be for you. But you need to start letting people know what you do.
- The second trick is that you can’t be boring about it. So find an interesting way to tell people what you do. I was just at an open house a week ago, just around the corner from where we live and it’s one of our investment markets. While we were there, some people come through to look at the home. One guy looked at me and he said, “how’s your guys’s house hunt going?” And I said “we live just down the street, but I collect old houses.” And he said, “Oh well that sounds like an expensive hobby.” And I said, “well other people rent them from us and they pay the mortgage, it makes it a more affordable hobby.” But I said, “yeah, it can be an expensive hobby.” And he started to ask me some questions and unfortunately his realtor dragged him away to go look at another house before we could carry on the conversation much. But you can see how quickly that engaged someone. Oh yes, I collect old houses. Right. It’s an interesting way to look at it. Be interesting!
- The third thing, is it new? Because if they don’t hear something different then normal, you’re going to be ignored and it’s just going to go right over people’s head. If you say, Oh, I’m a real estate investor. I know this happened for us for years because people thought we were real estate agents! We actually buy the houses ourselves so we weren’t even being interesting enough. So you have to be new and interesting to people. You want them to remember you and think of you.
If you just start doing these 3 things, your conversations will change and you’ll start to find people asking you questions about your deals and soon people will ask you whether they can work with you on one of your upcoming deals.
Finding Money Resources
Watch more videos about Finding Money on Rev N You’s Raising Money Playlist.
Finding Money Section in the Course Real Estate Achievement Program.