BTM167: The 5 Step Formula for Finding Money Partners in a Virtual World with Dave Dubeau
This is the right idea and you're listening to the before the millions podcast episode one. Cell. Are you ready to be the master architect of Your Life? Are you ready to design your business and invest in needs that commute the lifestyle you've always printed to? Are you ready to learn from entrepreneurs and millionaires who have achieved a certain level of success? Hey this is Derek Location Independent entrepreneur and you're listening to the before the millions podcasts. I'm Gina Lofton I am an investor and you're listening to the before the millions podcast. Hey, there my name is heather haven would marketing coach and Global Entrepreneur, and you are listening to the before the PODCAST, Hey, this is mark with the host of the seven minute momentum podcast, global entrepreneur and all round Geek and you listen to the before the millions podcast I. Am see lobster the cash linenger and you're listening to before the millions baht cost you're listening to the before the millions on cast a whether you're looking to invest where cash flow or built an online business that allows you to be location independent. You've come to the right place Mr Hollywood him. So presents the before the millions podcast. Now your host. What is going on people? Welcome back to a brand new installment of the before the millions podcast. Guys got a juicy one in store today and I put out a Lotta Nuggets from this interview with Mr. Dave debut in Dave is a real estate investor and A. Mentor of Sorts and what he specializes in is raising money finding the money. So. This episode is all about money partners. And this is something that I think all of us can relate to maybe you're just starting out in you haven't gotten to the threshold that's going to limit the amount of business you can do with your lender. But ultimately once you get there and you will get there, you're going to have a serious problem and this is going to be right around the time where you're picking up or you're gaining confidence you've done a few deals. And then they slapped the cuffs on you. You're like Oh my goodness. I can't go the traditional way anymore. How do I buy my deals? Now, if you're already super-rich, you could just by deals cash. But I have a strong hunch that most of US get into real estate to become wealthy. So if that's the case for you, which is the case for me and it was the case Davis well, we're just like, what do we do next? So I've seen to natural progressions. Some people do want some people do both? And it's really your preference. But ultimately. If you want to continue doing deals. And you WANNA do deals in a way that doesn't put a lot of strain on your pocket. OPM other people's money. You've heard it before, but I mean how many of us are actually implementing these strategies? So again, there are two tracks when it comes to other people's money in. My is the main to and it's creative financing. Right things like owner or seller financing subject tools, and even going down this path creative financing that allows you to get large assignment fees like Wholesale Timmy buyer assignments. This is what I've built. The motivated seller method upon because your risk is so much more diminished than any other strategy, but then you have the track. Of Opium and how to make sure that you have the funds necessary to invest in deals. And this is finding partners. Having somebody alongside you that has the money you may have the expertise you may have the time you have the knowledge. But you may have a passive investor at bay that investing in the stock market has no idea where to get good returns from. I mean these can be family members for some of us an initially when I hit the Kaplan traditional financing, I actually went down the syndication path was actually raising money and raising money on a large scale is slightly different than having one or two partners, but ultimately, the principal's for this strategy. Is exactly the same. So today when we talk about the five steps. That you need to put in place in order to make sure that you have abundant cash waiting at the helm when you get your deals. These steps are Golden I've pulled out guys, I promise. You wait till. You listen to the episode IV pulled out all of the nuggets. Now it's just an hour episodes so you may not have detail for detail exactly what you should do every step of the way. But for an hours episode I guarantee I stuffed, it asked Dave I brought everything out of him. So you're going to know exactly how to cultivate a partner multiple partners or actually raise money by the end of this episode. So. If you're not yet subscribed, make sure you hit that subscribe button because we're bringing that fire guys. If you haven't listened to the past episodes, make sure you do that. It's been nothing but awesome value. Same thing in our facebook community guys we've been going live pretty much every single week. We're getting after right now we're in the middle of a big challenge guys if you haven't heard of. Where the middle of the five K. tounge this is our staple challenge for the before the millions tribe helping you put five thousand dollars in your pocket and the next thirty days. If you think I'm kidding head over to before the millions dot com for slash five. K I'm taking on the straightest path to putting five thousand dollars in your pocket straightest path. There's so many other things that you're gonNA learn through your process of so many other things that I'm going to teach that going to learn as you continue down your investing journey I want to show you that it's possible for you. That's why we created this challenge. Sure for like d'auray like a WANNA get into real estate. I. Don't have the time or I have the money or you know all these all these things that you believe you need. Just head over to before the man's dot com for us five. Kansas. Just just watch the first two videos and I guarantee your stop thinking that you need all these things and you'll realize all you need is the confidence to move forward and I give you all the tools and the resources that you need inside of the challenge. So let's get it happened. On the inside. Of the week becoming a member of the before the millions tribe as a two part process. You've successfully executed part one by listening and subscribing to the show. Part to however is where we take things to the next level. Part two is the facebook group before the millions tribe community. This is where we congregate as a mastermind. Recently in the group, I've been pursuing a grow rich challenge with an income goal that I've never said before I'm documented the entire process in the group while. So right in the middle of starting our five can't thirty they challenge were I. walked through the exact steps to start putting money in your pocket in the next thirty days by simply talking to motivated sellers and assigning real estate contracts. That's it. And I answer all the questions that you have a long way inside of this group. In fact, I'm so committed to adding so much value in this group we're going live. A week and I'll just give you a sneak peek of the facebook live agenda for tomorrow morning. So we'll have some book recommendations on some of our most recent reads. Mine is reminiscent of a stock operator. We'll have a conversation around the difference between concepts like the secret and. The concepts in think and grow rich. Have a Freebie given away on this facebook live. That is specifically targeted for those of US looking for motivated sellers were going to do a deal walk through live deal walk through. As were currently working on this deal. We're GONNA have another Freebie of immense value that's more geared towards coaching. Last. But not least, I'm going to have an announcement about how I'm going to help one thousand people get their first deal done by the end of this year. So that's on the facebook live agenda for tomorrow, and these are the things that we discuss in groups will make sure that you head over to before the millions dot com forward, slash group and complete your initiation. Until the tribe. Complete your initiation your halfway there before the millions dot com for its last group. And now your feature presentation. Okay I ran out of cash and credit to do more deals on my own. So I hit the wall when it came to financing had self-financed my previous two properties I gotTa homemake, rely credit tonight, add some some cash for the other one. But when I got to the third one I had run out of cash. So I needed to use other people's money. What was that was at your? What does that initial thought? What were some of your options like did you were you? Were you contemplating you write down like? I don't have any money through my options. This is the best outlet. How did you rationalize the very next step? While because I was aware of other people. Other people's money to do the real estate deal. So I I knew that was the next logical step. I just didn't really know how to go about doing it night heard a lot of stuff about pick up the phone start for dollars. You're I actually tried that. I dialed got rejected dialed got rejected dial Godhra did that about five times got rejected and my core little ego couldn't handle that much rejection. So promptly, quit dialing for dollars decide I didn't to do that any more. So than I heard in a what go out network storm start you know turning every conversation into a real estate conversation. So I went to the local chamber of Commerce media went to the Meetings I went to the local toastmasters meetings as part of that and I tried you know handing out cards picking up cards talking to. Sneak. It sounds like you went to Google dotcom type in the top ten things to do to raise money and. At, work. Not, it didn't work. Yeah exactly. So then then I came up with what was a brilliant idea and I thought, hey, why don't I just put together a little one page overview of this fantastic deal is such a great opportunity for people who is going to sell itself, and so that I I ended up e mailing that out to a couple of hundred people on that I, knew. And that was the first time. I had any signs of life about anything and then I was excited because I started getting these replies coming back. Started reading the replies. Most of them are things like, Dave I haven't heard from you. Ten years or fifteen years or whatever, and you're hitting me up for for cash. Take. A hike bugger off that some some version thereof. So bottom line three at that time, that's that's when the whole deal collapsed. I already had a property under contract at ten buyer lined up. I had the realtors was excited the mortgage broker was ready to go and and collapse ideal because I was able to close on it. That's as when I decided you know what there's gotta be a different way to go about raising capital because this way sucks. And what would be the different way? How'd you find? This is the money to formula. Yeah. So basically I had. Decades of experience doing marketing. But for some reason, I hadn't connected. Two plus two together and say, Hey, you know what? Why don't apply what already understand about marketing to raising capital and instead of chasing after people desperately looking for money what if creates curiosity would apply marketing and get them to reach out to me. Ideally pre motivated, pre educated prequalified and and ready to go. So it's a, it's a much different conversation. So that's that's why worked on it took a little bit trial and effort a day I came up with and it works very very well for myself and it's worked really well for this point hundreds if not thousands of people across the world first and foremost I wanNA understand who this is for Just for multifamily owners, multifamily syndicate disindicators people in single family space, lease options like who is this for who is a stop for? Well I. Think this is four. Really it's it's four folks that were like me when I first got started. So you know what I call mom and pop real estate investors. They've got a dealer two or three under their belt. They have self-financed their properties up until now they hit the wall the around cash and or credit of they still wanNA grow their portfolio but they really don't know what next steps to take or how to approach people who approach or who knocked to approach when it comes to raising capital. So has this worked for people that are already very experience of going out because it's all about marketing. It's all about. Creating efficiencies. But again, by this whole process is is really designed to take people from zero to raising capital six figures in as little as four to six weeks starting from scratch. So that's that's really Donald. Matter what strategy I mean. Got, people that are doing this with buying single family homes during the burs. Strategy Grad clients that have done this for self storage facilities for purchasing tax liens, tax deeds, multifamily small multifamily. Commercial Properties you pretty much. It people have applied this this process to let's get into it because again, I know the audiences is. So what does this happen? I call today it's a process and it's not something that you know you do here in there or something that you know happens in happenstance or maybe we'll call you right uncle this time or maybe a follow up in about a month like there's a system, there's a flow there's KPI's or things that you want to. If you actually want WanNa, be serious in do this in a way that's actually going to provide you with the income that you actually want so. Take it away. Let's start with step one. What does the money partner formula and we had we start to cultivate a group of people to help us to partner with us on our deals. Yeah. Great Question. So again, backing up just a minute. What I've designed this this process for his for regular folks so It's really designed for folks that don't know what the hell a KPI EST it's designed for folks that don't have a lot of business background. Don't have a lot of marketing background because I've found that most what I call mom and pop real estate entrepreneurs they are. Got The aspirations to get there but their punching the clock job right now, they might have one or two properties in their portfolio. They WANNA get out of the rat race they want to create that financial freedom, but they're not business people yet. Does that make sense three? So I think if we get too complex, we get too carried away. If it's too difficult people won't do it. So I I like to simplify as much as possible in it and it starts off on the first step and I i. know you guys can't see that very well, but I'll. Info graphic in the show notes yeah perfect. But a step one gather filter and reconnect. Yeah. So bottom line what we WANNA, do is want to create what I call a target group of prospective investors, and if you guys you know if they take notes deserve falling along or or watching this or what have you This is basically What we're shooting for, we're shooting for a target group of approximately two hundred people who we're going to focus on. And these two hundred people I'm going to suggest. Should be people that you already have a pre existing relationship with people who you know and who know you people who are at least likely to listen to you to give you the time of day is make sense. So quick king adhered to rate. Neither unify these. I can speak for myself. I'm not a lawyer. I'm not an accountant I am not a securities specialist. I'm a real estate investor and a marketer and I'm sharing my standing of things. All right. So before you rush out and do anything I know that you know a lot of folks in the in the states every state is a little bit different and there's the Securities and Exchange Commission what I'm going to be talking about here. Involves making sure that you've got everything set up properly in the first place. So it kind of depends on gets back to how you can be structure deal. So again, there's four criteria for whether something's a security are not the Securities and exchange, commission? So let's let's pretend for the sake of this illustration that you're bringing on joint venture partners. We're GONNA bring in capital we're going to help qualify for financing so that would. That would take the then you're part of a joint venture, which case by understanding is it's not a security under that case or it could be a situation where you're raising debt rights or you're getting somebody loan you money. It's like a a second mortgage on a property in which case that also it's not a common enterprise. So it doesn't fit the criteria of a security. So just a US called Dave covering his but is. I love it. I love and hope he clearly on there. That was amazing. They've. All right. So with that in mind, here's what we wanted. What I want to. Here's a big picture you guys I want to help you find the easiest fastest cash I Zaman exerts. The low hanging fruit. So what we're going to focus on Let's create this list of two hundred people who know you and who you know as well, and that's what we're going to focus on. And when I do this workshop or what have you everybody goes holy crap eight I don't know two hundred people. How the heck am I going to come up with two hundred snatcher? About that, however you get you get on your social media right now just go to just go to instagram and facebook and go to go to your friends and I mean Lo and behold you'll see two hundred people times ten. Exactly. So good news and bad news earn. So first of all congratulations that you've got two thousand quote unquote friends bad news is not all real France. So here's kind of here's Scott of criteria, right? So Here's here's the minimum criteria to keep. This it'd bumped into that person in the lineup at starbucks and you didn't have your face. A. They would know you know them. You can have a nice conversation Rachel, there's there's there's a different levels of connection with people. So these are people that you genuinely they know you and you know that fair. Okay. So where do we find the but that's perfect place to start. So what I always suggest is grab all all the contacts from all of your different sources from yourself from from your social media email addresses. If you're like me and you got you know a drawer full of business cards and told address books are rolodexes. Or whatever get them all out of there, get him in one place into a spreadsheet, and then instead of having to come up with two hundred people. Now, let's you've got a thousand or fifteen hundred people quickly go through it and every time you see a name, the face pops into your face and your mind and you don't feel like punching that face right if we recognize a face, you like the face, keep him on the list. If you don't be don't recognize them have done face doesn't come to your mind delete make sense. Way narrowed down to a couple of other people very, very quick. And guys. This is this is this is I. Want you guys to do this now like it's it's not something that you're like you know I'm going to do this in a week or this sounds good. I'M GONNA come back to this like the quicker you take action on these things the more the more liable yard actually follow through on the things that you say you're going to do this this activity I, you can put your, no have exercising and. Winning your workshops where you pull out your your context as you scroll all the way, all the way, all the way all the way to the bottom, and you look pretty context you haven't low and behold you have way more than two hundred context guys go check it out right now go go out and fish for these contacts, Excel spreadsheet and get your your your top hundred and let's let's get a goal until what do we do next is The next thing we do is we don't do what dumb Dave did back in the day, and that is just spam everybody with your deal right off the get go that that is dump twenty twenty hindsight seemed like a smart idea at the time but here's what you WanNa do to. You want to reconnect with these folks on a personal level I before you start talking business. So. Let's say we've got two hundred people and it doesn't have to be two, hundred, eight, hundred. Between one hundred and two hundred, whatever it is right we've got that target group of people. So what are we suggests in what I showed my my students in my classes we have a a three step warm up campaign. So three emails go up to them set up an email autoresponder system something I'd get response or really well. So you can create one email and just gets sent out to everybody all at once. Quick Question. So just to rewind I. Want I don't want to try to ask the questions that I think my audience has as well. So. Because a lot of these people are in our contacts or on social media are we is there an initial step to? I get the remote address. Good Question Yeah I mean if you don't if you don't have their email addresses. Yeah. So again, I'm sorry I should back up the whole crux of this marketing ongoing marketing ready to be doing is via email because I'm we're talking about this it's the most efficient. Communication. Format to do group communications that I'm aware. All right. Because we can. If you've gotTa, you've gotta raise names email addresses. You can use that email autoresponder system like get response and personalized create one email, but it gets personalized for every single person on that list. Okay. So. So that's the first step is. Two hundred contacts make sure you find a way to get their email addresses. Can you WANNA, talk out? Go ahead I'll tell you outright is super super simple. So If you a lot of people on your phone. You probably don't have their email addresses. So just a quick little text message. So let's say I was saying this Adria Dave A. Update. My contact information for you what your best email APP. The. Way It is. That's exactly what we were giving out free scripts as wounded. I love it. So there you guys have it in again when it comes to a uploading these emails now that you have been to an ESPN or service provider, you have get respond to have You have there's so many out there. I use convert kid actually have an affiliate league for the millions dot com for slash convert. But there, there's so many out there that there's a male champ think is free up to a certain point. There's click on what's going on right now. So you get what you paid for you get what you pay for. That is so true. So if you got a good one use the length of the Dirigiste, you might put it onto the show notes. It I. Don't care doesn't matter at all I. Know is one make sure it's got good deliverability and that you can upload all of these contacts in there and you don't need the whole double optimum thing. That's real pain in the butt. So so of Yours, yours does that Austin perfect yet aren't so that so that's so we hadn't. So now we have everything uploaded, and now what are we doing? We're contacting people now through email? Yes. So we're going to do we're we're GONNA do a warm up campaign. So the first is usually a three step process here Percy mail goes out as just a regular email by it's kind of A. Warm fuzzy catch up email. So I always suggest pretend to the other person hasn't heard from about five years and catch them up on what you've been doing in your life for. The last five years got got a family got a spouse. Damn. Remind people by the names and ages your kids, kinds of sports and activities you're into what you've been doing since his whole Kobe thing hit know what's going on your lights talk about the good things and so good things don't leave. Don't end on a on a Downer always end on a on a good note and then really important at the end of that message eight that's what happened up to but how you. What are you doing? Please hit reply to this email. Let's catch up. Do you mind. Do you mind that I use do and is relationship as a real life example? Of. An email I received from you about a month ago, and we'll just we'll just take again. We're going you guys free copyright now and do these steps as we're talking pause the tape in do these steps. saw a data been on days maybe about a year ago and recently since Kobe Dave decided to reconnect and check in and see how things were in. You know we got reconnected, and now we have a few things in the works and this is all because of this system this formula. So let let me read you guys just just exactly what is talking about as far as I can intro to to to reach him back optimal shelvin talks on a long time. So let's see Dave One. Second I absolutely love that email days I absolutely I told you that when we first got back on wow, this is a this is a beautiful email. I spent. Aren't. So here here's Dave Bill. Hader right I. Hope you and yours are doing well in spite of this whole Kobe craziness and that you've managed to keep things coming along nicely, which adventures my wife and I, had a scare a we were in contact with someone who had it. So we had to go into self quarantine for two weeks which Rodriguez guys are. Okay. The most memorable thing for me was getting oversized q tip again, another personal touch of contact. The most memorable thing for me was getting an oversized up my nose further than you could have imagined for testing. Fortunately, we both came back negative which I consider a very positive thing wink, wink. Now that life is back to the new normal for us I'm following up with you because Bob La and he goes into iskoe. So again, more scripts guys guys go do this. Now this is your get when he partner now formula that what's next. Yeah Man. So that's that's the first thing and two or three days later after. Send out something similar but in a video format. Everybody freaks out about this but video is the next best thing to being there with the person in person said, quick little video does not belong three or four minutes long backs and again at the end of it say, Hey, that's what I've been up to. How about you please hit replied as e mail you don't have to do video, but I'd love to catch up and then here's a key. When people reply have a little bit of back and forth you're going to get some people replying with A. Full on catch you up on what they've been up to the last ten years other people who buy just the a couple of sentences or few words doesn't matter get back everybody because there is money in those reconnections. And the third message there is what I call the transition message, the heads up message that is a married. Do a better job of San attached. Let you know what I'm up real estate something. I'm really excited about grooming well with who knows you might want to partner up with the in the future Sharon from the prophets and we also hey, but if you're not into click unsubscribe at the bottom of any my emails. They a little bit more to that than that. Under the time situation I can't really go into into it fully death that it's the transition from warm and fuzzy to to start talking to you about real estate investing and we make it super easy for them to opt out if they'd really rather not hear about it, and here's the cool thing very few people will back when we do this with our clients 'cause we offer. done for you services around this. When we do this with our clients What would be your best guess out of two hundred people how many people actually opt out? Just because I've I've been some similar things it's not going to be too much. I know I know it's not going to be a whole lot but most people probably are super scared and thinking like, Oh, my goodness people are gonNA. Say Eighty percent or got opt out. Years what we've seen on average, we have six people opt out. Six people opt out of a two hundred person list glads pretty good and then from there. Okay. So that's that's the first shot across the bows. So that's that's step number. One of the five step process race step one crystal clear I got my people and I've been in contact with them. I've sent up a sent out my initial contact requests for all of them, and now if some of my follow ups and step number two, tell me what to do. Tell me tell me how this process works because it's present with poise in power. Yeah. So this is really cool. So that whole warm-up secrets I explained is not designed. To raise capital, it's not designed to get you investor meetings. It's not designed for any of that is just the first shot across the bow. So to speak right and understand that I mean I was going to point that out me. Even. Mentioned real estate in the first few messages. No. But here's the here's the interesting thing when we started doing this with our clients, we found that about half the time. So with about half the clients just from that series of messages like. Some other some people would be reaching out to them saying, hey, tell me what you doing with real estate investing. So that was when we kind of got to the scramble boy. Okay. Oh crap now. What are we do? Right? So that's why it's really important that you've got a an effective presentation ready to go and especially these days because we're kind of in the middle of this whole. Kobe craziness thing going on and a lot of people are still uptight about meeting face to face and all this kind of stuff. So you're probably going to be doing a lot of stuff just like we are on Zoom Online, right? So you need to have a really good slide show presentation might be a powerpoint or keynote if you're an apple user, but basically I always recommend really well put together well-thought-out well-designed slide show presentation. It has so many benefits I mean even even if you're meeting with somebody face to face, bring out your laptop, walked them through the presentation. Here's why it's so important. Is really important because a and you could probably relate to this from when you're trying to explain deals over the phone. A It's visual. So it's much more interesting for the other person to look at be it's a format is a structure so It helps to keep you up to keep me I should just talk about myself out to keep me on track because otherwise, I, have a tendency to go off on tangents. So it keeps me focused keeps me on track. And see it's just it's a way to systematize the processor you doing the same thing over and over again once you've got it dialed in its. Then it's it's a process. It's a system. Does that make sense? Joe well-designed slide show presentation again typically, we're not asking people at the end of the presentation to cut us a check for fifty or one hundred grab typically were saying, Hey, again, because my whole goal is, let's get the capital i. then go find the deal. So what does that mean? That means we have people who raise their hands at? Yeah, you know. What Day when you've got a good deal, I want first dips I want I kick in the Canada. So then what I'm going to get as I'm going to get an expression of interest from that person saying something like just not a lot of legally binding document but a document where it says, Hey, I, Joe, Schmo. Interested in investing some up to one hundred thousand dollars with Dave depot in an upcoming real estate deal. His John Henry Fonda does that make sense? So then and then whatever the next step of the process is for you if you're GONNA get him together with your finance specialists getting pre prequalified for financing whatever that looks like. So it all comes down to we WANNA read prepared in case somebody does reach out say, hey, tell me more about your deals to be able to actually show them a presentation makes absolutely absolutely absolutely love it. So the presentation again, it's whereas resources for that we said. A powerpoint. A apple MAC than keynote and Trying to think about any other resources may be can vote for designs and stuff like that. Don't make it too long. Any other tips advice spicer presentation how it looks and what it gives off. Well, it's it's hard to explain this. Short podcast basically, the rate you really WANNA keep it high level what I call. Reader's digest level this dates me because I don't know if that exists anymore but reader's digest was a magazine that was out for a hundred years. And it was for adults but it was written at a level where thirteen year old kid could easily under stat doesn't mean that the adults were dom just means they made it easy to consume same idea of her a real estate presentation. Here's a cool thing for usually important thing during. You and I and the people that are focused on your podcast and I say this with love and affection we are weird. All right. We are Weirdos we are real estate Weirdos and you notes right because when he talked to a non real estate person what we call the call a civilian. You start talking about real estate stuff. There is tend to Glaisdale you know what I mean. Right. So we gotta remember that ninety five percent of people have never invested a revenue proper ninety, five percent of the population has never done this right. So we got to keep that in mind that is probably most likely who are investor partners going to be. So we got a dumb it down. We gotTA keep it simple. We gotTA keep it focused. So even if you do a variety of different real estate strategies focus on one strategy and one market in your presentation. Otherwise. You've come across as Jack of all trades master of none. You confuse the other person a confused mind always says, no. So Matrix Berry. Berry, simple, very, very focused and dialed right in the other thing is a lot of real estate investors. Are Numbers people they're super analytical. Also another thing, the vast majority of the population is not so don't go crazy with the numbers don't go crazy but the spreadsheets and the data and all this kind of stuff where you just dated up on the other person, keep it high level. That makes sense absolutely I love it I love and. Again, the most of the people that will be invested in your deals, they don't want to know the particulars they they want to. They want to know that they're investing in somebody that they know like understand and trust with their money. Right. So if you can give off those things with your presentation with your interaction with them, you're far more likely to do business with them than if you can. Spew out a bunch of numbers and show them excels of this that and the third and why it's a good deal like they. They don't. They can't see that So I absolutely love David that is step number two right is very important that everybody remembered raid. You know this that the end of the day, your money part of your investment partner. They're investing in you. The deal is just the collateral for their money. That's a really investing in. You does that make sense absolutely fulsome. So now we WANNA just kinda jump straight into step three, which is communicate and consistently some loving to kind of figure out what the difference is between those two words and kind of figure out how outgrow this process. Yeah. Well, this is this is where the magic sauce really comes in because this is all about the marketing. So people say Dave. Can you really get people reaching out to you e mailing you texting you calling you instant messaging you asking for more information about investing within the answer is, yes. You just gotTa do the marketing properly and that's what the whole constant consistent communications all about constant. Is a referring to. Time Wise. So for example, if you're going to be doing electronic newsletter, for example, in its going out, the third Thursday of every month, make sure that that happens like clockwork right if you're gonna be doing video logs in, they're coming out the first Wednesday of every month. Make sure they come out like clockwork. Sorry about that. Constancy consistency is all about the messaging rights. It's all about having. A consistent message. So for example, you're you're more into multifamily investing. So that's what you're raising capital for. That's all you should be talking about. So one of the big mistakes, e people making his, you know one time to call him a multifamily investing the next time the talking. flips the next time that dragging the burs strategy or investing in self storage units. It's it's inconsistent, right? So you've got to keep that consistent communication going and. The biggest thing is. Believe it or not. Not to over educate people. The biggest thing is to create cassidy and as always remember that chances are the person that's watching your marketing really doesn't give a crap about real estate vested they're looking for different investment vehicles are looking for a better return on their money compared to wherever they got it right now, if got a mutual funds, Jesse's whatever it is. They probably not making very much with it. So there looking for a better opportunity, but it don't want to get into the weeds. Does that make sense perfect PGA absolutely absolutely. So as far as the actionable steps here. So again, I will just KINDA WANNA recap steps into a steps one, you pull this of two hundred and make sure you at least have between one, hundred, two, hundred emails, and now we have your email list, you get your email service provider and. You begin to create a sequence. Right. This can be a sequence of three. and. You are not a warm-up campaigns where you call it a. so you begin to create a warm-up campaigns or warm up campaign three miles a followed up by presentation. You GotTa, make sure that you've got your presentation ready to go have. Okay got. Yeah. Because you're not sure if folks are going to. You know put up their hands say, Hey, what What do you have to with real estate? Tell me more won't be able to be ready willing and able to show them what you've got some extensive. If we first going down the sign of thinking when you talk about communicating constantly, and consistently, this is still going to be primarily via email. Exactly now, if you WANNA get fancy pants this advanced strategy once she'd done the other stuff once you've done easy stuff, I want to get fancy pants. You can create a subgroup of your top fifty prospects. These are the folks that are in your best estimation. Could invest with you if it made sense for them right and then we want to show them a little extra TLC by sending them stopped by direct mail. In which case you'd want to get their full contact information. Again, how do you get that? You ask them the same ideas we did for the for the email. And then you can send them. Newsletters via mail, you can send direct mail packages in some all sorts of cool stuff by mail and the cool thing about that is even though it's kind of a hassle and pain in the in the but to do it. Is One hundred percent open rate when it comes to a package lining on somebody's door bursts an email but you're you're lucky if you get you know this is a list. You're lucky you're getting twenty, twenty, five percent open rate just touching on when you send somebody something via mail. Guys get creative I I want I want a there's a book called Gift Allah and there's another book called the go giver at. The concept of are absolutely fascinating the way able to build relationships through. Absolutely. Amazing. So if you're already going down this path, you're creating relationships in these are do you see these relationships as what they are meant to be long-term fruitful relationship between you when the another individual of friend? than applying these, these principles are absolutely absolutely essential to your growth. So and. Shortcut and you just follow my. Shock at direct campaign out of my book the money partner for. I love it. I love it. I. Love It. So so there's a there's a shock factor societas with the gift, which is always a good thing. So, let's so again just to wrap up step three, it sounds like we're just just a whatever medium it is for most people. It's GONNA be email. We're just GONNA create consistent constant value and make sure that we're we're staying top Lamar Yeah. We want to be entertaining to want to keep it light. You ought to be a little bit educational you want to be a little bit. entertaining as well. That way you get people, you know Otani least opening up your communications and hopefully consuming them. So there's all sorts of different things you can do what? A marketing. Weird. Also, not only are we really say, Weirdos but I'm a marketing Weirdos well. Weird I used to say you know, Hey, here's these twenty seven different things that you can do go out and do them all people to be like deer in the headlights is too much right. So now what I suggested is very, very, very good advices pick one thing that you can start off with and that you at least don't mind doing and you can do at least once a month get started with the at and then build up as. You go get started with one thing. So you're more into writing I would suggest you do either blog hosts or you could do an email series of short emails or better yet electronic newsletters easings very, very effective if your just so darn good looking like you and Eider and you're just a pleasure and a cool cool pool of water on a hot summer day for video then can do video. Alright. So that's the other option jokers down through. I gotta face built for radio. But I still do video all time. If it works, it's next. Best thing to being there. It's not everybody's covered peak. One thing it consists them. Yeah. I like to call this in this kind of goes into your next step, which is demonstrate your expertise and authority. You know when I first started I, told you guys my told you my story Dave in my listeners have heard it plenty of times when I first started that deal I think it was actually I just went back to check it what we got off the Kalos thirty, two, nine dollar deal on but that deal was brought my mentor and this mentor was my first ever really statements or I learned under his tutelage in the very first just imagine paying somebody thousands of dollars in real estate in in Oh you're getting ready for day good radio step up to the plate with this is all your money that you've saved up and you know this is the last thing you're like. All right. This has to work and stuff up to the plate. Your Metro tells you hey, actually I'm not gonNA teach you about Destin roast I'm not gonNA teach him about raising money for these large bills, but I want to do is. Go. Creating thought leadership platform. I said what in the world? Said I paid you all this money to learn about real estate in Iras returns in your you telling me to go go go. Go Be, public face. He said go create a thought the very first thing. Dave. Yeah. Go Without Lou this was in twenty seven. This is how this I mean. This is why I have this podcast. Right and and you know what? You're your extra weird drake. I love. A Weirdo by now you've created a thought platform. But again, what I want to provide people is something actionable. They can do to day to help build that trust factor that credibility factor others, lots of different things that you. You don't have to start your own podcast. It's. Not at all. You don't have to become a thought leader per se. There's lots of simple things you can do one super simple thing. The just really ties everything together beautifully is to have your own investor specific website. This is your online marketing Humphry communicating with your lists you're not not trying to get it ranked on. Google. You just WANNA use this for really communicating with your group of target investors. because. Quite frankly, you know this rate in order for people to take seriously. You have to have a website. Definitely don't want to try and Hodge podge it together. You don't WanNa try and build one yourself. You don't WanNa try and do some weeks thing or whatever. You WanNa, get a professional website that helps you a lot more credible. Some other tips that I like to share with people are even when even if you're with somebody. For an investor presentation air best meeting of your meeting with them. Online via zoom. Dress professionally came. So. Guys breast business casual at least lady same idea. Because you want to show the other person respect and they're going to give you more respect as well. Make sure you can speak very. Clearly about your specific real estate investment strategy in the market that you're investing in able to communicate that in sinked simple to understand manner, right that people can understand very quickly. Other other suggestions are you know if you're not comfortable with public speaking get some training around that. If you're you know toastmasters is a perfect example they`re These. Kinds of things. Other, more advanced strategies get interviewed it interview. I mean this is the best way to be seen as a credible authority really wanNA kick things into the into gear. The Word Authority comes from the word author, right? So write a book there's no better way to be seen as a rock star than to be an offer in the space. So those are some simple all the way up to more complex suggestions. Absolutely, and I wanNA throw one other. Rather simple in there, but I think it's a can really bode well for a lot of people run a high level masterminding whether the things that I have been the visuals do almost immediately is to create some sort of lead met. In this thing, be you know a two pager three page or six major? It can even be of the presentation that that you're creating in step two of what we're talking about here. But as long as you have a lead magnet something that you can use to collect more email addresses in something that you can use to add value to other people. Again, it's not leveraging your time. It's a great way to build authority. It's a great way to give value and to to still continue to to bring in more investors Again, a step four is all about building authority when it comes to everything else in we're in, we're in very strange times. First Impressions of everything. Right. So you WANNA, make sure that ultimately that you're putting your best possible or you may feel like when I meet somebody like almost super personable person from Hash and all these things and that's when they get that connection with me. Well, if you're online and your face to face your video your maybe on a call, you don't have all those advantages scuffed find other ways to get into a gang back the dressing on going back to the way you're talking going back to even your Internet connection I'm there's so many things you can do up your game so I think that's absolutely amazing. Step number. Five. This. no-ball. So, here's a beautiful thing. Success begets more success, right? So once you got an investor or two under your belt once you're working with one or two people and you getting them some good results in their happy with working with you, it's so much easier to to grow your investor list. Through testimonials and referrals, testimonials and referrals absolutely huge. So when he got a Happy Camper Encourage them. To talk you up with their sphere of influence as well. So lots of ways to do that I love to get video testimonials from people. So let's say I'm doing a quarterly update with an investor partner by do something like this zoom with that person talking about what's going on if they're happy with how things are going with the with the project with the with the returns, then chat them up a little bit about that NASC them. It's okay with you using that as a video testimony get that up on your website, it's going to go along long. Though thing you do is you say, Hey, you're happy with how this is working. Do you know anybody else who might be interested in these kind of returns and then look for warm introductions? To their sphere of influence, and that's a great way to grow your investments your best debates. How big have you found that referrals are in this business? Huge in any, they can be if you do them right. Biggest mistake I see people making d'auray is that they're clumsy about it. So I've seen people do stuff like, Hey, refer a friend to me appear thousand bucks they well. That's dumb idea on the surface might seem smart. It's actually dumb idea what I highly recommend instead is at your more that you're classier about it. So you're encourage people to refer people to you. You don't overtly bribe them. To refer somebody to you but you do reward the activity biggest mistake I see people may. Not asking referrals SEGMA-. When they do ask for referrals, they don't. Thank the person who referred right. So if you're an investor mind, ask you a referral in you refer your friend. John. Whether it becomes an investor with me or not I'm going to acknowledge you I'm GonNa. Thank you. I'm going to send you know even by get a meeting with that person, I'm going to send you a nice little. Thank you card maybe a little gift certificate just for that. Right? Even if nothing comes of it keeps you in the loop as to what's going on with that meeting because. You're putting a lot of trust in me to refer your friend right you're putting your. With your friend on the line attention. So I want to respect that I want to give you the respect that you deserve the acknowledgments you deserve Dan. If John Does come on board and become an investor with me then you're GonNa know all about it. I'm going to keep you in the loop about that and I'm going to find out exactly what you like and if it's tickets to the game. Front and center whatever it is I'm going to get that to you as a as a token of my appreciation make us but I don't advertise. Against Yeah absolutely. Absolutely. So man, this isn't fascinating podcast I'm said I've learnt so much about just raising money and how to systematically go about this process and I guess we're going to leave this conversation at is this one last? Maybe one of the most pivotal moments, but it's time to actually ask for the money because you have a deal. What does that look like? Well that here, that's the beautiful thing. If you do this right day, here's exactly what that looks like. You follow this process, the five step process, and you've got what I call your investors in the wings right? It's kind of like a play. You got all the actors in the wings ready to come out on stage. That's what we have with our investors. We got them lined up ready to go in the wings whatever that looks like everybody's GonNa be a little bit different but they're ready to go. Then when I've got a deal on the go. I'm just going to reach out to that small group. Basically say. I won in gets the deal or first wants to reply to this get the deal. So first come first serve. So I create scarcity I create a little bit of competition around this, and I also let everybody know when the deal is funded and they're out of luck this. And if you want to get it on the next you better act faster. That sounds a little little over the top and I'm not that obnoxious about it but that's the idea. Makes Sense. Of course absolutely. Absolutely I love it. Absolutely. So we've we've covered the the five steps in. Could you just saw rents with the five steps really quick and we are on Outta here what are the five steps to your next money partner? Does step number one is great target group of prospective investors break the ice with them. First before we start start talking business for do that with a warm-up campaign next step is let's make sure you've got a kick but what I call your million dollar presentation ready to go and some of them put up their hand and show interest step number three keep the ball rolling with constant consistent communication. That's the marketing start with online marketing hub a really good website pick one thing get it going. Get it going consistently always have a call to action for people reach out for you for information step number four is all about. Making sure that you've got everything ready to go that you're that you're really. Keeping things going with that market. That's that's what it's all about. Stem number five is once you've got a few investors on board, you can get so much more so many more of them by getting really good testimonials and referrals. This episode is brought to you by prospect boss gone are the days of cold calling potential sellers at a rate of ten calls per hour sitting and listening to ring after ring and leaving Perky voicemails for every number that you dial. Now by no means is cold calling dead. In fact, cold calling is alive and thriving last time I checked with a majority. Of our deals or coming from however, the art that you know of cold calling is dead. Tell me if this sounds familiar investor pulls a great list invested gets excited to get a deal done. INVESTOR GOES LINE BY LINE calling each solar for each call investor. must one do a quick search on the property that takes three minutes? Investor must who doubt digit by hand thirty seconds three way and listen for the rinks three seconds four investment must leave that Perky voicemail. That's a whole minute including listen to the voice mail prompt or four could be that the seller actually picks up the phone. Five right any notre McCall thirty seconds and six schedule a follow up another thirty seconds. Now if the seller doesn't pick up and you cut all the corners, each take a minimum of five minutes and that's a Max of twenty miles per hour if you're going nonstop and no one picks up and at the end of the day, those twenty calls almost impossible to get done because in real life, neither of the aforementioned things will. Be Constant. Again, this is dead. So the question remains, how do you thrive? We get still one of the most powerful lead Gen activities cold calling in the game and the answer is you game the system here's what I mean myself virtual assistance and my students use a software called prospect boss to handle all of our call flow. So while the average investors making twenty calls an hour, we're making more like two hundred calls an hour. Prospect. Boss is a power dialer that comes with a single triple and four line dialer. We personally use and have always used the triple line dialer twice a week I plug into the software and the system already has my list ready to go from the last place I left off and he begins to doubt three sellers at the same time. Now, as calls begin to go to voice mill, the system drops a prerecorded voice, not the click of a button, and then it frees up the line to make additional calls. It's absolutely insane. The volume that we're able to do I can leave three or four voicemails in three seconds flat while I'm. Talking. To the sellers will pick up okay and the dashboard it provides a link to the listing so that I can do research if I need to our on the phone and once we're done I assigned the lead a callback or not interested or I got the appointment all with the click of a button I spend less than one hundred dollars on prospect boss per month they haven't Allah car system so get what you want and leave the rest again I only use them for my trip aligned dialer and my crm, but you can use them for pulling lists, skip tracing and so much more head over to before the millions dot com. Slash boss that's before the millions dot com forward slash B O s s to try prospect boss today and reinvent the way you prospect using the software that can do this amount of volume and then also track the data for you can be the difference maker that separates you from the competition so that link one last time is before the millions dot com forward slash boss. LIFESTYLE DESIGNED ACCELERATION What is your favorite before the millions book? By favored book is a marketing book. Called the ultimate sales machine by Chet Holmes. Wines like a favorable us. He was brilliant unfortunately passed away a few years ago but the guy was absolutely brilliant. So if you're looking for, you know you talked about pitch anything this is not just how to pitch anything but also had a market very, very effectively. So it's a beautiful. What is your favorite lifestyle design at? This can be a business APP or tool. Favorite business apper tool. I'd have to say right now, minus click funnels. Awesome also, absolutely it love it. Yes. Could funnels amazed nap just a quick reference While Click finals is basically a website builder actually know what I take that back right now my favorite apper or software is zoom. Zoom is just like the best thing since sliced bread were on it right now it's user friendly. I mean it's it's just the best way to meet with your perspective investors end to online presentations as well. I love absolutely. Next question. What were the sacrifices that you knew you had to make before the millions I'm sorry. Skip the question. What do you? What do you enjoy most about the way your lifestyle is currently designed. Oh well. Pre Cova. The fact that that my wife and I. Travel on a very regular basis. So we were usually doing some sort of international travel every three to four months, and for the last thirty plus years I've spent at least a month every winter in Mexico. It's absolutely amazing. Absolutely. Amazing. What were the sacrifices they knew you had to make before the millions to get to where you are today. Really building a list building a list of prospective. Customers clients, investors that that was I understood that right from the get-go depending on how you do it it can be long and painstaking. To create a good quality list of people I think there's a lot goes into that. So I've I've put a lot of time and effort into creating this and stay in touch with the people on that list and gaining the respect. Absolutely who was essential to growth before the millions and why? Mentor Mentor Mentors Actually I've had no man's over the Again I'm a marketer and a real estate entrepreneur was a marketer. I saw my first real mentors were gentleman named Dan Kennedy, very famous marketer as well as Jay. Abraham those were two of my early marketing mentors. Greg Look Up. So why do you think so many of us are stuck before the millions even though we have every intention of getting to the millions. Too, comfortable. Definitely too comfortable. I mean, it's just too easy these days to vegetate our lives away. We can sit in front of the. The computer, we can sit in front of the television. We can netflix and facebook our lives away is just so easy. So easy to get sucked into. An overdose entertainment and I think that just. That just turns brains to Mush in laws us into complacency. Absolutely. Amazing packets episode I cannot wait to get out listeners Dave a little bit more about we have going on I. Know You have the book that that a lot of listeners are gonna WanNa grab hove work into listeners fines, move your information. That would a bit more about we have going on in possibly get hold of you. Thanks very much today Yeah. If you guys like what we talked about here today I've got my book money partner formula. Happy. To. Send you a pdf copy of this. This is also called a lead magnet. My lead magnet I go super. I spared no time. On putting this together for you today. So here you go investor attraction book. COM duster attraction. Book. Dot Com go ahead, grabbed the book. Now they'll get on my list you can reply to those emails. That's how you can. You can get a hold of meat and I look forward to getting Oh some of your amazing followers. Then we go and the links to everything that we mentioned on today's episode will be English Announce Ladies, and gentlemen go ahead and grabbed that book today Dave it's been a pleasure to have you on the show until next time. Thank you very much friends. Bull.