(NOTE: What it's like to write a $1,000,000 check for a sweet piece of undervalued real estate … even if your bank account is overdrawn and you owe the local lawn boy $20? This special report shows you step-by-step.)
If ever there is a dream that dances through the head of a beginning real estate investor, it has to be that of having ready cash. Oh to have a team of private lenders standing in line to do business with you...
Nice dream, right? But the truth is private lenders prefer to deal with investors who have credibility. And how can you be expected to have credibility when you’ve done only a few deals? Or maybe you haven’t even closed one deal.
Have no fear, Mogul friends. In this video, I’m going to give you a few options for building up your credibility, even if you’re a newbie.
First of all, building credibility will never happen by accident. You have to be intentional about it.
Creating a Presentation
Typically, as a new investor, you may think in terms of creating a solid presentation to show credibility. You might create a package that shows:
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The types of contracts you use
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The types of deals you plan to create
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The business promises you will put forth
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The business plan you have set up
This is definitely a great start, but there’s something that packs a stronger punch and that’s testimonials.
Testimonials
Your own words carry some weight; but when coupled together with an objective outsider, suddenly your credibility spikes.
A testimonial page should be part of your presentation and your website. Now it’s not just your word, but another person is stating that you follow through on those promises. (Of course you do!) And just like that, you’re really on your way.
Now go put on your creative-thinking cap…
If you are still at the starting gate in your business (you’ve closed no deals), then think of others you know on a professional level who will testify to your integrity.
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A realtor
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A closing attorney
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A professional colleague
And, you’ve gotta be proactive…
From this point forward, always ask for and collect testimonials. Make it part of your normal business routine to ask for a written testimonial whenever you close a deal.
You’ve just gotta watch this super-helpful video where I open up a new way of thinking about building credibility that will win over any private lender.
Veteran investor or novice, it doesn’t matter. Use these ideas for your own business. Invest your time in looking for new ways to build up your own credibility. It’s a win-win move on your part because it will positively affect all aspects of your business.
No Newbie Excuses: Stop using your inexperience in the business as an excuse for not getting the attention of private lenders.
Think Outside the Box: If you have closed few (or no) deals in your business and don’t have happy-client testimonials, think of others who can attest to your integrity and your character.
Get Proactive; Collect Testimonials: From this point forward, make collecting testimonials a part of your normal business routine.
Use Testimonials Wisely: Have a testimonials page in your presentation and on your website.
JP Moses
is a real estate investor in Memphis, TN, with experience ranging from land lording to note buying, rehabbing, and wholesaling. However, wholesaling is the area that he enjoys most and where he bring the most experience and expertise to his students.