In this podcast, you’ll learn:
Top Places to Find Potential Private Investors
- Start with friends and family
- Online presence – Sharing your projects/sharing what you’re doing in real estate
- Networking through attending doctors, lawyers, accountants events.
- -Charity Events : connect with people with money that also have good heart
- -Hobbies : e.g. go to the winery and talk to other people and share with them what you do
- Hang out with retirement fund leaders – people who handles 41K, self directed, cash value insurance policies, people in finances. They’re clients need other investment alternatives and accelerate the growth of their money.
- Run your own Meetup
- Visit other real estate clubs
How to Approach Potential Private Investors It’s all about them. Put your agenda in your pocket Have a different approach if the person hasn’t invested yet.
Ways to Structure the Deal 3 Things to Ask Them
- Do you like big fat checks?
- Do you like monthly income?
- Or do you like both?
How to take the conversation with the passive investors
- Tell me about what do you invest and why?
- What kind of investment you do in the past (if they have invested in the past)
- Have you considered investing in real estate and what do you know? (If hasn’t invested yet)
What matters to passive investors? The RISK -What kind of risk are they taking? -How to create certainties for them -Provide proper information
How to Vet a Sponsor Before You Invest Requirements: -(The team, business plan, the deal and financial capabilities ) How achievable their business plan is, who is behind it, what is their experience, how much money they have, multiple ramifications. -Know who they are as human beings -See the quality of the work/projects -What are their communication patterns?
*To connect with Jen, please visit www.jenmaldonado.com