| One method of finding private lenders is to create | | | | disadvantaged." This shows the listener that you |
| a 60-second elevator speech to use for | | | | are interested in offering something significant. |
| networking with everyone you know including | | | | Perhaps add something like "I partner with other |
| friends, family, and business associates. A | | | | investors to accomplish these goals." |
| well-written and rehearsed elevator speech is an | | | | Deliverables: Create specific notes on the services |
| effective means of spreading the word that you | | | | you provide such as housing for the |
| are looking for private lenders. | | | | disadvantaged or perhaps you provide properties |
| So how do you create an elevator speech and | | | | that contribute to urban renewal. Whatever |
| what are some of the important elements you | | | | services you provide you need to think in terms |
| should include? | | | | of how your services will benefit others and gain |
| Prepare for a Brief Encounter | | | | the interest of the listener. |
| Elevator speeches are called "elevator speeches" | | | | Return on Investment: Add something in your |
| because they are designed for brief encounters | | | | elevator speech about return on investment. Most |
| that you have in elevators. Keep in mind that | | | | people these days are not seeing very good |
| they are not just for elevators! The idea is to | | | | returns on their 401k or savings. Ask them if |
| prepare a speech for a brief encounter anywhere | | | | they would like to see a much better return and |
| such as in the car, the coffee shop, the | | | | emphasize higher return on investment if they |
| supermarket or bank line, and anywhere lese you | | | | invest in your real estate deal. |
| are likely to have a brief encounter. | | | | Seminars and Appointments: Once you have their |
| You have to craft your elevator speech in a way | | | | attention by showing what's in it for them, |
| that makes a lasting impression and showcases | | | | casually invite the listener to one of your |
| what you do in a brief amount of time. In other | | | | investment seminars or encourage them to |
| words, get to the point of what you do, what | | | | establish an appointment with you to learn more |
| you are working to accomplish, and how it will | | | | about your real estate venture and how it will |
| benefit the private lender. | | | | benefit them. |
| Important Elements to Include: | | | | Write It Down and Practice |
| Benefits to Your Potential Clients: People do not | | | | Finally, write down your speech and practice it in |
| want to be bored by your endless list of | | | | front of the mirror. Remember to keep it concise |
| accomplishments, so get to the point with how | | | | and to the point and above all, practice good |
| your services will benefit the other person in the | | | | charisma. People will most likely remember |
| conversation. In other words do not say "Hello, | | | | someone that shows charisma and don't forget |
| my name is Mike Smith, I am a real estate | | | | about body language. |
| investor with a Master's Degree and over 15 | | | | If you look like you lack confidence you can |
| years of corporate experience. No one really | | | | forget about your private lender investing with |
| cares about those details. | | | | you, so be aware of your body gestures and |
| Instead, say "Hello my name is Mike Smith and I | | | | movements when you are delivering your |
| help people by providing housing for the | | | | elevator speech. |