My Exact Script for Pitching Friends & Family for Private Money (Sneaky ;-)

bearEvery month, we answer questions in real time in our Q&A coaching calls. Time and time again, we get questions come from investors who don’t yet have their first private money lender. They know they should first explore their pool of friends and family before going out to others, but they’re scared to death to do so.

We’ve all been there and we understand. That’s why I decided to craft a lesson to deal with this simple process in a straightforward way. The key is not to make this a hard thing; because it’s really not.

I want to share my script with you that has served me well through the years. It’s especially designed to use with those who are closest to you.

But before I share the script with you, first let me share what I think is going to be a very helpful, quick, run-through of my 3 simple steps to getting the first private money appointment. And the script fits neatly into the 3rd step.

3 Steps to Land Your Appointment with a Potential Private Money Lender

#1 Don’t Disqualify People

Beware of your own mind. You will be tempted to lean toward one person (perhaps someone you know who has money to invest), but you ignore another because you don’t think they have the available funds. This is one of the biggest mistakes you can make.

When you set yourself up as the judge, you could be ruling out a person who may not have funds, but who knows someone who does. You have no way of knowing a person’s sphere of influence.

And besides all that, at this stage in the game, you need practice meeting with people and presenting your information. You’re looking to plant seeds and spread the word that you’re both a real estate investor and that you have good investment opportunities.

#2 Make a List

Take a sheet of paper and pen… select a quiet place and a quiet time. Now write down the first 5 people that come to mind with whom you could set up an appointment. These will be from your “warm” contacts; these are people you have a personal relationship with.

trust-listDon’t forget – no disqualifying allowed!

This might 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 that Call

Okay, now we come to the script that I mentioned. It’s time to set up your first appointment and this script is going to help immensely.

In fact, it’s going to be a heck of a lot easier than you think. When you use this script, the meeting you set up will have absolutely zero “sales pressure.” This means that later, you and your prospect will enter into your meeting comfortable and at ease.

Here’s your script to get your first appointment:

Hey <Prospect>,

Did I catch you at a bad time?

No, great.

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 30-45 minutes.

Thanks, I really appreciate it.

When would be a good time for us to get together? Where would you like to meet?

Sounds great.

See you soon.

BOOM! With this script, you’re setting up the appointment based on getting the prospect’s honest opinion and feedback. No pressure. By asking for “help,” you’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 they’re interested in your private lending opportunities. Believe me, this is one of the most powerful ways to sell anything.

Think of it like this. Even if the prospect isn’t interested right now:

  • You’ve gotten some practice
  • You planted a seed (that could come to harvest down the road)
  • You took action toward your goal, which is to get private money for your deals

Now that you can see how easy this is, now use this 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… sooner or later this plan will bear fruit!

 patrick-signatureYou can do this!

What’s Up Insiders?

Have you taken that first step and made an appointment or even presented? How did it go that first time? Share below.

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