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Real Estate Investors: How to Use an "Elevator Speech" in Your Private Lending Program

By Michel Lautensack

Republish: EasyPublish™ Published: 27May2009 Word count: 595 Viewed: 74 time(s) Get Free Content For Your Site

I'm going to go through my elevator speech briefly so that you can get a sense of it. Then you can copy it if you think it's appropriate for you.

My Elevator Speech

My elevator speech is:

Are you getting a safe 9-15% on your idle cash or retirement funds? No. We buy houses and pay cash for each house and we use private lenders to fund our deals. We pay 9-15% on notes secure by local rental real estate.

If you're not getting that type of predictable return on your money, I'll be glad to talk to you about the details. We occasionally hold a free small luncheon for potential investors or I could sit down with you at your convenience on a one-on-one meeting.

If you like what you hear, simply let me know how much you're looking to invest and how long you have the funds tied up for. I'll put you on my list and I'll look for an investment opportunity that meets your needs. When I find one I'll call you and at that time you can pass or play. There's no obligation.

Now, I just read that out loud. If I was delivering that to a person I would basically say the same thing but in a more casual tone.

Basically you're offering an investor a return that is typically 9-15%, depending on your program. You're buying houses at a discount, taking advantage of low real estate prices going on today.

You could even mention the fact that the mortgage market today is really in collapse and it's very difficult for real estate investors to find money through traditional mortgages. As a result, you're looking for outside investors to participate in your business. If they have some further interest we can do a group meeting or we can have a one-on-one meeting.

Organize the Speech and Practice

Lay this presentation out in whatever form you're comfortable with. Practice it repeatedly. Go through it to the point where it's internalized so you can deliver it very naturally on the spur of the moment.

As you can tell, we're going to go through all the other ways you can network and meet people. A lot of these are going to be formal where you are going to get a chance to present your information, your product or service. But many of them are going to be much more casual. In either case, you really need to be prepared to lay out your private lending program.

Again, I would go through this. I know we develop this with my coaching students as we go through the coaching program.

That's number one. Spend some time to practice and internalize in your own mind a truly well thought out elevator speech. This is probably one of the most important pieces we're going to talk about tonight. I would highly stress you spend some time to think it through, put in on a piece of paper, and practice it several days in a row.

I know it's silly but I used to practice it in my car. There's nobody else around. I would have it typed out and I would keep repeating it while in my car.

Whatever works for you? If you want to do it in the bathroom, it doesn't matter. Wherever you want to do it but you need to repeatedly practice it until it becomes internalized in your own head.

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