3 Steps to Your First Private Money Appointment (plus free script)
No matter where you get a private money lead from – your “warm” contacts, networking, public records – the first major step is getting an appointment.
In that appointment, use the private lender PowerPoint presentation to…
- Educate the prospect on your business model and niche
- Explain why it makes sense to invest in real estate and why you borrow from private individuals
- Handle questions and objections
- Find out your prospect’s investment experience, what return is expected from a good investment, the range of funds available… ultimately, find out your prospect’s needs and goals
The presentation does all of this for you. All you have to do is customize it to suit your business.
After the appointment, follow up with your prospects and pass deals by them that meet their needs and goals.
Now that you understand the process and the presentation, it’s time to get your first appointment.
3 Steps to Get Your First Private Money Appointment
1) Do NOT Disqualify Anyone
This is very important… one of the biggest mistakes you can make is to disqualify someone because you don’t think they would be interested or because you don’t think they have available investment funds.
At this stage in the game, you’re just looking for practice; you’re looking to plants seeds and spread the word that you’re both a real estate investor and that you have good investment opportunities.
2) Make Your List
Pull out a sheet of paper. Now, write down the first 5 people that come to mind who you could set up an appointment with from your “warm” contacts – people you have a personal relationship with.
And remember, do NOT disqualify anyone.
Could be your brother, sister, cousin, mom, dad, best friend, neighbor, someone you went to high school with, someone from college, someone you work with, son, daughter, another investor, someone you met at REIA, church, rotary, your boss, aunt, uncle, social media friends, insurance agent, Realtor, mortgage broker.
Write down the first 5 people that come to mind. Do it NOW!
3) Make The Call
Alrighty, time to set up your first appointment…
It’s going to be a heck of a lot easier than you think… and using the script below, the meeting you set up will have absolutely zero “sales pressure”.
So, you and your prospect will enter the meeting comfortable and at ease.
Here’s your script to get your first appointment:
Did I catch you at a bad time?
I’ve been getting into real estate investing and have a new presentation on my business. I would really appreciate it if you would help me out and let me show it to you sometime.
I value your opinion and would love some good constructive feedback from you. I’m not selling anything.
Could you help me out with this? It’ll only take 30 or 45 minutes.
Thanks, I really appreciate it.
When would be a good time for us to get together? Where would you like to meet?
See you soon.
With this script, we’re setting up the appointment based on getting the prospects honest opinion and feedback. So, there’s no pressure. By asking for “help”, we’re bringing in a powerful ingrained human need… the need to reach out and assist others who ask for help.
Many times, half way through the presentation, the prospect will look up at you and say, “You know. I may be interested in this.”
Now you’ve made it the prospect’s idea that their interested in your private lending opportunities… and that’s the most powerful way to sell anything.
And even if the prospect isn’t interested right now, you got practice, you planted a seed (that could come to harvest down the road), and you took action towards your goals…. to get private money for your deals.
Use your first appointment as momentum to set up 5 more. Once you start consistently meeting with prospects and following up with specific deals, it’s only a matter of time.
Now, go get your first appointment.
P.S. – Got a comment or question? Toss it in the comment area and let us know how we can help 🙂