The following are examples of how you might answer someone who asks, “what do you do for a living?”
It is intended to be memorized and practiced aloud, in front of a mirror, making it your own, until you can repeat it, having it sound casual.
There are two versions: one is for real estate investors that are not seeking private money and the other is for real estate investors that are looking for private money.
Without Private Money
“Sometimes people need to sell a house quickly or would rather not wait to have it sold by a real estate agent or for sale by owner. My company helps those people by buying their houses directly. Then, we help people–often people who are finding it challenging to buy a house traditionally–buy the houses from us. Often this involves us renting or providing flexible owner financing to the buyers.”
With Private Money
“As you may know, the company I work for buys and sells real estate. When we buy real estate for cash, we use private lenders. We pay our private lenders 6 to 12% on notes secured by the single family homes that we purchase. When we find a deal that we are considering buying, we call our private lenders and offer them to make a loan secured by that property. They can decide whether to invest or to pass on that deal at that time. Do you know of anyone that is not getting a consistent 6 to 12% return on their retirement or other savings?”
Until my next post,
James
Over the last month or so, I have been working on hiring a private money coordinator to go out and start raising private money (resources for Real Estate Investor Bronze Members only) that we can use to buy more real estate deals and expand our business beyond what my personal resources could accomplish during this amazing period of opportunity.
While I have never raised private money on this scale before, my research has shown that one of the most effective methods of raising private money is talking to everyone you come across about how you work with private individuals to offer them a higher return then they are seeing in CDs and savings (and the stock market based on recent record breaking declines). The best way to share this message is with a well rehearsed private money elevator speech.
For today’s article, I’d like to share with you my own personal private money elevator speech that you can use or adapt to use with your own real estate investing business and for raising private money for your own deals.
In my opinion, you must practice your elevator speech daily until you can give it very casually, but effectively, from memory. The more you practice the better you’ll get. In fact, I have set up a Private Money Daily Checklist for the Private Money Coordinator that I am hiring and it includes practicing their private money elevator speech daily.
Of course, while you read my elevator speech for private money you can also see the information I have put together for how I am raising private money for my own business as well.
Until my next post,
James
