So you may be wondering: What is a Private Money Newsletter?
Well, it’s an excellent way to build trust and rapport with your prospects and get private money faster and easier because of it.
Hey Moguls, Patrick Riddle here, and I’m not talking about an electronic digital e-newsletter. Nope, I’m talking about a physical snail mail, hard copy, printed newsletter. Yep, old school.
Now, if you’re strapped for time and cash, an e-newsletter is better than nothing, but a physical newsletter is beneficial for many reasons which I’ll cover momentarily...
But first, I want to share a few ideas for what could be included in your private money newsletter…
The Content Goods
Sample Deals
Show your private money prospects the type of properties you purchase and what the potential returns would be.
Real World Deals
This is even better than a sample deal because it shows what you’re doing, not what you intend to do. If you didn’t use a private lender in your “real world deals,” show what a private lender would have made.
Articles
You could either write articles on the benefits of private lending or cut and paste from articles you find online (make sure to give credit to the author if you cut and paste). Include any articles that build value in today’s real estate investing market and private lending.
Testimonials
If you’ve never used private money before, get some testimonials from anyone you’ve done business with and use them to build your character, credibility and reputation. You could also use testimonials from any buyers and sellers you’ve worked with. Here’s a great tip for ya when getting testimonials ... make them results-based.
Pictures
You know this old saying, “A picture is worth a thousand words.” Well, keep that in mind here. Use pictures of any properties you’ve purchased, people you’ve done business with (buyers, sellers, lenders), or if you’re a newbie, pictures of the types of properties you’ll be purchasing.
Why a Private Money Newsletter Leads to More
Since I’m in a list kind of mood – let me lay out 4 reasons why a printed newsletter works…
1. More “Touches” Builds Greater Trust and Credibility
In marketing, a “touch” is any time you put your marketing message in front of your prospect. It could be through a TV commercial, newspaper ad, a newsletter, etc. And giving them something tangible like a physical newsletter that’s mailed out monthly or quarterly - is a powerful “touch.”
2. Online Business Makes Owners Lazy
Many businesses are abandoning direct mail and doing all their marketing online. BUT, direct mail is still a killer strategy to get your message in front of prospects. Use it to set yourself apart from the competition.
3. People Still LOVE Getting Things in the Mail
There’s something about getting mail that people just love. Having your newsletter in-hand makes it much more likely that it will get read AND it...
4. Gives Prospects an Easy Way to Spread the Word about Your Private Lending Program
A newsletter gives your prospects something to show people and ask their opinion about, it gives them something tangible, something real. This brings your private lending program from the intangible - from just an idea - to something they can look at, touch and feel.
I think you’ll be pleasantly surprised at this underutilized strategy.
Happy newsletter creating, friends.
I’m Listening…
Got any newsletter tips? Share below.
Grab a free newsletter template from the internet so you’re not starting from scratch.
Include in your newsletter brief articles about the market, testimonials, same and real world deal, and most importantly pictures.
Mail out your newsletters on a regular basis – for consistency and multiple touches.
Patrick Riddle
has been investing in real estate ever since he got the bug in college at Clemson University and - to his parents dismay - dropped out of college to dive full-time into real estate at the age of 22 with a couple friends/partners from school.
The first few deals were rough for them, mainly using their own cash, credit, and hard money loans. But, soon he found out that was a rough and unsustainable way to build a real estate business.
After "on the job" learning through the school of hard knocks at first, he found the key that helped their company get deals done more quickly, with higher profit, less risk, without having to go to banks or use their own cash.
Fast forward to today, their company has closed over 130 real estate transactions and has put over $6 million in private money into their own transactions.