The best way to meet one-on-one with private lenders
- Author Alan Cowgill
- Published August 30, 2010
- Word count 899
People are funny sometimes.
Maybe they don't want everyone to know they have enough money to invest. They feel it is a very private matter. Maybe they are "The Millionaire Next Door" type who lives an unassuming life style and you would never guess they are actually quite wealthy and very capable and interested in investing with you.
Maybe they are just the shy type who doesn't feel comfortable in social situations like sophisticated luncheons. They just don't go for all that "fancy stuff."
Maybe they are not physically able to attend. Perhaps they are older or have disabilities.
Maybe they are just odd. Remember the stories about Howard Hughes, one of the country's wealthiest men? He probably would not have attended a luncheon because he just did things differently.
There are quite a few reasons why someone might not want to or be able to attend a luncheon but, they called you because they want or need to earn a high rate of return on their money?
YES! So we want to extend this tremendous opportunity to them!
You'll recognize some of these folks when they call in to the answering service that is taking reservations for your luncheon. They will identify themselves as interested but unable to attend. This is important: Don't pressure them to attend. Accept that they have their reasons.
They may ask that you just send them information. We send the blue audio business card with the credibility building items, the newspaper articles, the Elizabeth letter, an audio tape on private mortgage lending, information about our company, etc.
They may immediately agree to talk with you so you need to set up a one-on-one meeting. Ask them where they would like to meet. They may want you to come to their home. They may want to meet at your office to see if you are "for real." They may want to meet at a coffee shop. The location is not all that important because what we need to be concerned with here is their comfort. Your presentation should be the same regardless of where you meet.
Now you have a date set for a one-on-one meeting so you have to get ready. (Heads up: Do all your preparation ahead of time.
What if they want to meet tonight? BE READY!)
Go through the same steps you would if you were making a presentation to a large audience.
Prepare presentation items
Go through your checklist
Arrive on time
Make your presentation
Here's a little more information about each of these points.
- Prepare presentation items
This time you won't be concerned with a projector but you may want to use a laptop. That makes a nice professional presentation.
Another option is to print out the presentation and put it in a binder or notebook so you can make the same presentation with paper copies. You might want to put each page in a plastic cover to ensure the pages stay in perfect condition.
Know your material backwards and forwards and be prepared to answer questions.
- Go through your checklist
Use the checklist even if you are going to a one-on-one meeting. Sure, you don't have a lot of items to count out but you certainly have items to remember and the checklist is a tremendous help.
- Arrive on time
Be courteous and arrive on time. If they are late don't mention it or if they mention it, be gracious. If you arrive 20 or 30 minutes late, forget it. You've blown your credibility. They see that you don't do what you say and the game is over.
- Look professional
This doesn't mean that you have to wear a suit to meet at the neighborhood coffee shop. This might come on a little too strong. Just be sure you are well groomed and look nice. We have sports shirts with our company name embroidered on the front that look great.
Their first impression of you is just as important at a one-on-one meeting as it is at a luncheon presentation.
- Be professional
Yes, this is a more casual setting but you can still conduct yourself in a professional manner. Always be aware that they are judging the way you present yourself as well as the program. You want them to trust you with a great deal of money so you have to convey to them that you are a serious businessman or businesswoman.
- Make your presentation
Get to your presentation quickly; this is not a social call, but a business meeting. Don't waste their time.
They may want to chat or there may be other distractions like the family dog running around or phone interruptions; just stay focused, and cover the material.
If they have questions you can't answer, assure them that you will find out the answer and get back with them. Remember that questions are not negative, it means they are interested!
Just like at a luncheon presentation, you have to have a close or "call to action." Use the form in the system to ask if they are going to pass or play. No hard sell! Whether their answer is yes or no, thank them for their time and conclude the meeting.
Do this over and over again until you have all the money you want!
E. Alan Cowgill is the owner of Colby Properties, LLC. and President of Integrity Home Buyers, Inc. Since 1995, Alan has bought and sold hundreds of single family and small multi-family investment properties. His home study system, 'Private Lending Made Easy', shows others how to find private lenders for their very own real estate business.
His website is http://www.truthaboutprivatelending.comArticle source: http://articlebiz.com
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