Doing The Deal

Peer group pressure is very powerful. Just press
on, keep calling, making contacts, you will soon
find an investor, and word will get around, and
you will have more investors.

**Quick Note: Not everyone has the guts to be a
real estate investor. When enough people see you
are determined to raise the money, and that their
skepticism didn't make a dent in your drive to make
your deal happen, they often realize you have something
they don't possess, and will come around and support
you, to be part of your 'grand adventure'.

Very often getting the first investor is key to
getting the second. The principle of Social Proof
states that, we view behaviour as correct in a
given situation to the degree that we see others
also performing it. So if you can say that you've
raised, $25,000 for earnest money, that's important.

A place where you "can" raise up to $25,000 for any
venture is www.prosper.com. Go there now and take
a look. You don't have an excuse for not getting
started any more. www.prosper.com

Professionals, Business People
After you have exhausted all of your immediate
contacts, if you still don't have the funds you
need the next group to contact are professionals
and other business people who are cash rich and
time poor.

The benefits to them investing with you are obvious,
and the whole problem of what to do with all their
money is probably weighing on their mind. They just
don't have the time to do anything about it.

It's as simple as grabbing your local yellow pages
and beginning calling. Start with attorneys, they
are the classic 80 hour week types and have usually
had some kind of exposure to real estate.

Take the opener you used before, modify it a little
to this, "Hello Hudson. Thank you for taking my call.
I'm a real estate investor, and I'm in the process
of raising money to buy an apartment building.
I'm looking for people to be private lenders in the
project. Would you be interested or do you know
anyone who would be interested in earning 10% return
on their money secured by real estate?"

If you happen to be on the line with a ham and eggs
lawyer you'll probably get the brushoff, or possibly
a dose of their negative view of the world. However
a more successful attorney will prick up their ears
and ask you for more information.

Good attorneys are highly networked and understand
how the world works. When they see an opportunity
to create value for clients and people they know,
they take personal responsibility for the making
the introduction.