How to Create a Tidal Wave of Interested Investors, Doable Deals and Delectable Dollars
So… know how a tsunami starts?
Scientifically speaking, a tsunami is “a series of waves generated in an ocean or other body of water by a disturbance such as an earthquake, landslide, volcanic eruption or meteorite impact.”
In short, one action leads to the next until… BOOM… tsunami followed by a great big flood.
In the real world… tsunamis and floods are not great for the people living where they hit.
But in the world of real estate investing, creating a flood of investors and deals is exactly what you want. It leads to a massive influx of income.
For the sake of this article, I’m calling it a tsunami of leads.
That’s what you need. (Cuz you need leads before you do deals.)
As I talk about in episode 30 of my Cash Flow Diary podcast, people tend to focus on deals first. That’s not how it should go. It just doesn’t work well.
You gotta build your lists of buyers, sellers and investors… and then find deals.
See what I mean. Give this episode about finding investors a listen…
Oh, and here’s something SUPER IMPORTANT to understand before you attempt to match any deal to anyone.
You MUST understand who YOU are as an investor first.
Next you need to know who THEY are as sellers, buyers and investors.
That means knowing your Investor Identity and theirs. Then you gotta know how to talk to them and build relationships with them.
I talk about this in most of my presentations.
If you want to learn more, watch my videos on YouTube. I cover the topic a lot there, because your Investor Identity is THAT important. Here’s just one. Watch it…
So how exactly do you create this tsunami of leads?
As you might expect, it is a series of steps.
Just like real tsunamis, one action leads to the next and next until you can’t avoid the flood you desire.
For this article, I’m calling the steps WAVES… because they build upon each other until… BOOM! Well, you know… tidal wave of interested investors, doable deals and delectable dollars!
Wave 1: Establish Yourself as the Local Expert.
You know how to dominate your market?
You educate to dominate! That means becoming a local expert on real estate investing.
You can do this in a variety of ways, like giving presentations to audiences of all sizes. (I do it now comfortably, but it wasn’t always this way, and I took steps to get here.)
Before you get up in front of groups of people like I do, prime yourself. Take smaller steps:
- Use fun tools, like playing the Cashflow game. It works like a charm to get you in front of likeminded individuals who want to get together with you to play a fun game that teaches us all how to do deals. What happens on the board can happen in real life.
Here’s a link to some cool videos where I’m teaching the game…
- Read books about real estate investing and the entrepreneurial mindset. Then share what you’ve learned and give books away at your Cashflow games. You think I started out knowing everything I do today? Um, no. I read a lot. (By “reading” I mean I put my ear buds in and listen to audio books while I’m doing other things.)
- Listen to podcasts… like mine. There are a number of excellent podcasts out there just waiting for your ears and brain. You might not think that a podcast host who produces two shows a week would listen to different podcasts throughout the week, but I do. I absolutely do. Podcasts cost nothing but your time and can teach you lots of different things. Why wouldn’t you choose a few and stick to a schedule of listening?
- Watch educational webinars on real estate investing. Yes, I have created some really good webinars that you should watch, but I’m not the only one on the planet who has produced good webinars. A vast sea of information awaits you on the other side of your computer screen. Pick the best from the pool. Beach the rest.
- Use YouTube for educational purposes… not for watching funny cat videos. We all know that YouTube can be a big time-suck if we let it. So don’t. Use YouTube to learn new things. There’s nothing wrong with watching the occasional furry-animal-does-fun-things video, but it’s not really moving your needle forward… now is it? You’ll find LOTS OF ME teaching you on YouTube… sans cats.
Wave 2: Find Out What Others Want.
Hey, you don’t know what you don’t know, right?
So how do you get to know what other people want? What the sellers, buyers and investors want?
Um, ask them good questions.
You’ll ask your “Have you ever considered getting involved in real estate investing” question. Then you’ll follow up with your “Really? Why?” question set. And then you’ll let the other people talk.
You will learn by LISTENING to the other person’s words what they like to do and what they’re interested in doing inside real estate. Oh, boy… that is when the magic happens. You’ll know what they want and then you can serve them IF THEIR IDENTITY MATCHES YOURS.
Wave 3: Learn What Others Are Currently Doing.Here’s the deal.
NO ONE will be interested in you if all you do is talk about yourself. So don’t. Learn to listen.
Once you’re in front of other individuals and you’ve asked them if they’ve ever thought about getting involved in real estate investing, it’s time you shut your mouth.
The only words that should escape your lips are, “Really? Why?”
There is a reason for this.
I don’t care what topic it is, this helps the other person open up to you. When they can clearly see that you are listening, they will share what they are doing, how it’s worked for them, as well as problems they have encountered or are encountering.
When they are done, they might ask you questions. Answer them if you are able. Don’t fib to them if you don’t. Ask them if it makes any sense to get together over coffee to discuss the issue further. (And invite them to your next Cashflow game.)
The conversation needs to be natural.
No one wants to deal with the used-car-salesman type.
Wanna repel people? Talk a lot. Don’t listen. Be a smarty pants. Minimize what they have to say. Tell them they’re wrong and here’s how you are right. Cut them off by inserting the things you want to say that are just waiting to rush outta your mouth without regard for the other person’s interest level or feelings. (Those are sure ways to get people to run from you and avoid you if they ever see you again.)
I talk about how I learned quickly to be a better listener… from someone I had approached with my really long, really self-absorbed (let’s just call it) elevator pitch. It wasn’t funny at the time, but it will make you smile now.
Get the book for free right now: Click Here
Wave 4: Share What You Are Doing.
In the link above, I talk about how to use a retirement account to fund real estate deals. Why am I sharing this one? Cuz it’s something I help people do. It’s one of my ninja secrets in raising private capital.
I’m the solution-provider to the problems experienced by sellers, buyers and investors. I share that fact and then I share different ways I can solve their problems. I SHARE WHAT I AM DOING.
That means coming up with a short elevator pitch that sums up what you do. When I was very first in real estate investing, I was a wholesaler, so my elevator pitch (and feel free to borrow it) was:
“Hi. My name is J. Massey and I’m a wholesaler. What that means is that I buy properties at a discount and I sell properties at a discount. What kind of investing would you like to do?”
This would be at real estate investing-related events and something I could insert into different conversations. Like when inviting people to my Cashflow games!
Wave 5: Ask Them To Join You.
In the above link you’ll watch a pretty cool interview I did on Entourage Academy. They ask great questions! You’re gonna love what you hear if you are remotely interested in real estate investing and raising private capital for your deals (which means getting people to join you in making your vision a reality).
One of the very first things you can do to get people to join you on your journey (and benefit as a result) is invite strangers to your Cashflow games. If you don’t have one scheduled, make the invitation anyway. Name a date off the top of your head that you know will work for you.
Reading this you might suddenly have butterflies in your stomach. That’s okay.
You might be an introvert. That’s okay, too.
If you want a new life and a lot more income… if you want a flood of leads that literally never stops, playing the Cashflow game and inviting total strangers to your games is ONE way to do it.
Joining Toastmasters is another, but I’ve written quite a bit on that topic already. There are articles on this blog about networking and learning to get in front of people, but here’s a link to a REALLY cool how-to piece you’ll want to grab:
Follow my step-by-step formula as I just laid out for you and watch the flood of seller, buyer and investor leads rush in.
If the only thing you do is invite people to your Cashflow games and then keep doing it, guess what?
You’ve started a tsunami of leads of pretty impressive proportions!
But, hey, don’t just take my word for it.
Do it and report back to me. ; )