Knowing why an investor may have rejected your deal is just as important as knowing investors who commit to your deal. Rejection is usually caused by these four reasons:
1️⃣Lack of Knowledge — The investor may not have enough knowledge to make a decision.
2️⃣Fear of Losing Money — For a passive investor, they may have doubts because they have fear of losing all their money.
2️⃣Trust and Expertise — Sometimes the investor just doesn’t trust you, and that’s ok. The important thing is to develop a systematic approach to build that trust.
4️⃣Non-Alignment — Sometimes the deal you have just doesn’t line up with what the investor’s goals are, and that’s perfectly fine. Every deal isn’t right for everyone.
As you grow your investor database, you’ll want to keep track of which reasons are leading most to your rejections. From that, you’ll know which area you need to improve in as you build out your real estate business.
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I've said it once and I'll say it again: there's never a "perfect time" to ______ (fill this in with your own personal goal, it doesn't matter what). The perfect time is just the excuse your telling yourself to mask the uncertainties and fears you face while pursuing a goal.
Believe me, we all have self-doubts — yes, including me — but once you stop letting those feelings trip you up, things fall into place slowly, but surely. Don't let perfection stop your pursuit of progress toward your own goals.
Are you problem-oriented or solution-oriented?
Being problem-oriented means you focus on the problem at hand (e.g. if only I had the capital or could find the "perfect" real estate deal).
Solution-orientated is the complete opposite. Rather than dwell on what they don't have, solution-orientated people find fixes to their problem with what's available (e.g. hire a mentor to solve their lack of experience problem).
Which category of the two you fall into will have a major effect on your life outcomes. You probably already know which group of the two succeeds in the long haul more often than not (spoiler alert: it's the solution-orientated ones)!
Once you’ve established a connection with an investor, now it’s an opportune time to propose a real estate deal.
However, I say propose lightly here. You still have to gauge their level of interest in investing with you. If you sense an interest, then you can get into the finer details of the deal.
You don’t just need to convince investors. You also need to convince yourself — and this comes first. Here are my two mindset hacks when speaking with potential real estate investors:
1. You are presenting them with an OPPORTUNITY
2. You are SERVING them first — not just TAKING their money
The two most important things an investor needs to fund your real estate deals:
1️⃣ Trust
2️⃣ Expertise
Your personal story goes a long way in establishing both 1 and 2.
Real estate is constantly changing. The best way to capitalize on these changes is to have an established database of investors ready. This list gives you the flexibility to pivot your real estate strategy if needed.
It’s tough to consistently win in real estate without self-confidence. Thankfully, confidence comes mostly from doing the work upfront — and you have complete control over this!
Was a pleasure to be featured on The Gold Collar Investor podcast hosted by Pancham Gupta! We went DEEP into the mindset of a successful investor.
For those that want to listen, check out the episode page: https://thegoldcollarinvestor.com/tgci-122-passive-investing-mindset-from-pharmacist-to-full-time-investor-w-ketan-patel/
Worth remembering on this fine Monday: don’t endlessly focus on how many steps you are behind. Instead, shift your focus toward the next step ahead. One step at a time, you got this!
“I don’t want to sound sales-y.”
So many real estate investors have this nagging feeling when trying to raise capital within their network.
It shouldn’t have to be that way so long as you frame your mindset differently. 👇
One more day until my webinar! We'll be going over the biggest barrier to raising capital for your real estate business — your own mind. �
➡️ https://event.webinarjam.com/register/23/155mzir
Sign up for a free spot at the link above and get ready to reframe your mind for success!
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