The Magic Private Money Pill
Do you wake up every day feeling 100 percent like you want to feel? Do you look 100 percent the way you want to look; with nothing at all you want to change about yourself? Did you answer yes to any of these questions? If so, then you are one of the select few that have been impervious to the weight-loss/wellness industry marketing of the last 1000 years. Kudos to you for your fierce resistance to high pressure selling. The weight-loss industry is largely predicated on selling supplements, vitamins, herbs and fitness as well as cooking devices designed to be the proverbial 'magic weight loss pill.' That's right - everybody's looking for the magic pill. And not just in weight loss... In pretty much every other endeavor available in life, the magic pill is sought like the Fountain of Youth or the Lost City of Gold. El Dorado. I get a lot of questions from people looking for that magic pill when it comes to raising private money for their real estate investments. Here are the usual magic pills already tried before I hear from someone or before they attend one of my seminars: -"I posted my deal on an internet forum - and nobody replied." -"I talked to a bunch of real estate agents about getting funding for my deal, but they didn't want to invest." -"I asked Grandma to invest some money, but she doesn't have enough and needs money to live on. -Etc. The one good thing about these approaches is that they signal the person is taking action, which is always the most important part of success in anything. But, trying to use a 'magic pill approach' to private money is a pathway to frustration. Why? Because, to use a retail store analogy, if you want to get 72 customers in your store, there isn't one way to get 72 customers, you must find 72 ways to get one customer. Let than sink in for a second.... Private investors don't all congregate in one place. They don't all read the same things nor respond to the same messages. You won't meet all of them at one particular networking event. In short, there is no magic private money pill. Sorry to break it to you. But, there is still good news. In fact, it's great news if you are truly committed to getting and using other people's money in your real estate investing business. The good news is... You don't need a magic pill! In fact, if you used the same approach or went to the same well for private money repeatedly you would come up dry. You wouldn't get response. People would ignore what you have to say before too long. So, what are a few of those "72 ways" to get one private investor to come through your doors? Don't worry, I'm not going to hold out on you. I just want to make sure you have enough of an understanding to put these tools to good use: * Website - properly targeted * Non-real estate focused networking events The internet is going to become even more important for raising private money 6 months from now then it is today. If you don't have a professional website properly targeted, you're behind the curve. Most real estate investors only go to their local REIA or other real estate related networking events. This is good. Keep doing this. But, ask yourself: is this where my private investors are going to be? Most likely the answer you will come up with is: no. As soon as a private money pill develops I will be the first one to market it. However, in the mean time, use some proven principles to hit your money raising goals.
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Contact the AuthorAdam Davis
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