Photo Credit : I'mClaude
Talking to Paul last night, as our little tribe of real estate entrepreneurs was taking a break after my presentation, before converging and staying late, very late till 2:39 in the morning. I did not get home till 3:00am.
Paul was telling me about his upcoming meeting with 10 potential self-directed IRA investors who could fund his future deals. We talked for a while - multiply 10 investors with low six figures each and you can understand the stakes that these sixty minutes carry. Some tips:
1. Make your slides about what is happening now. We have a Wall Street meltdown going on with all major newspapers headlining it. Take a snapshot of their website and use it as an opener. Its sends a message out that you are in the loop of things now.
2. What do you want? Tell them flat out in the beginning. They are there because they are losing money in the stock market and you have an alternative real estate investing partnership strategy for them. Why be coy about it? I always liked having a slide with a title ' What do YOU want? What do I want?"
3. Before your build your presentation - ask yourself the five reasons why they would not do this. I am positive that you have some really good answers to all of them. Instead of praying that they would not raise any objections - raise them your self and answer them. Get them out of the way so you and them can get to bigger things.
4. You have a really clever LLC name. You spent some coin to make a nifty website. Great. What these 10 folks really want is to know about you more. They want to know who you are, why do invest in real estate, how did you get here, who influences the way you think about investing, where do you want to go with all this?
5. Take questions. When you don't know something, tell them you don't but you will find out and let them know later. The ones that are negative are the best ones to answer in your next presentation. Think of your first talk as market research.
6. Tape your talk. Buy a cheap digital recorder from Best Buy and tape your talk. Not to sell or put it on the web. But for yourself to listen later. You will be shocked on how you sound. Fix the holes.
7. The way you dress matters. First impressions matter. Your enthusiasm about your real estate investing business matters most.
8. Don't end your talk with, "If you are not going to this today, I want to know what did I do wrong?" OR " You have fifteen minutes to decide if you are going to move forward." The first one sounds needy. The second one sounds like an infomercial. I have done both to regrets.
9. Who do you want to do business with if you had a choice to pick from anybody in the world? Who is that perfect person? Do you know? Or is it anybody who is breathing and living on this planet. Build your private money PowerPoint for your perfect investor. You are going to lose the ones who don't fit that mold but you will attract the ones who do.
10. Use pictures. Lots of them to tell the story of your real estate investing business.
11. Learn to say the word NO when they ask you to do something that you cannot. They are grownups. Their feelings don't get hurt that easy. Do follow-up (thank you note, email) after the meeting. You will rock.