| We all know that word-of-mouth can be a | | | | This is a very easy way to meet people, |
| powerful form of advertising and the best way to | | | | network your services, and get involved with |
| do this when seeking private lenders is to talk to | | | | future real estate transactions. |
| everyone and spread the word about what you | | | | Networking Groups: You can join your state |
| do and what services you provide. | | | | chapter of the BNI (Business Networking |
| How Do I Find People to Talk To? | | | | International) to network with other real estate |
| There are many different strategies and | | | | investors as well as find additional business |
| resources you can use to find people to talk to | | | | opportunities that otherwise may not have been |
| about real estate investment and private lending. | | | | made available to you. |
| Here are a few things you can do to find people | | | | Social Media: You can create an account on social |
| that will be interested in investing in your real | | | | media networking sites such as Facebook and talk |
| estate deal. | | | | to people on the site. Remember to talk to |
| Prepare an Elevator Speech: Prepare a simple | | | | people in the form of offering free advice instead |
| 60-second elevator speech that you can use | | | | of selling your services. These sites do not take |
| when you encounter people in the supermarket | | | | kindly to outright advertising. |
| line, bank line, the post office, the coffee shop, | | | | You will also find that although the Internet is a |
| the elevator, of course, and any other location | | | | massive medium, word-of-mouth advertising is still |
| that provides you with an opportunity to strike up | | | | king, and others will give you referrals if you |
| a conversation with someone. | | | | know what you are talking about when you offer |
| Your elevator speech should be a 60-second | | | | advice. |
| overview of what you do and how it will benefit | | | | Real Estate Forums: Log onto Google Groups and |
| others. Remember that I said "overview" and not | | | | find a forum that relates to real estate |
| "overkill." Your elevator speech should be concise, | | | | investment. Offer free advice to other forum |
| to the point, and worded in a way that will | | | | members but remember not to blatantly |
| prompt the listener to ask further questions. | | | | advertise your services because this is considered |
| You can close the conversation by saying | | | | a "no-no" with online discussion groups. |
| something like, "If you know of any private | | | | Answer the Question: If you are a full-time real |
| lenders I would appreciate your referral," then | | | | estate investor, people sometimes notice that |
| provide the listener with your business card. On | | | | you do not seem to be holding down a regular |
| occasion you will find that the person you are | | | | job and they ask you what exactly it is that you |
| talking to will express interest in investing in your | | | | do. This is a perfect opportunity to answer their |
| real estate deal. | | | | question with your elevator speech and a great |
| Real Estate Investment Clubs: You can join your | | | | way to expand your word-of-mouth advertising. |
| local REI and find plenty of people to talk to that | | | | Additionally, the word will be delivered by |
| have the same interests in real estate as you do. | | | | someone who is already acquainted with you. |