This Week’s Episode:
Bill Allen joins me on this episode. Bill is a former Navy pilot. He is a smart investor that had some of the most meteoric rises in real estate investing that I have ever seen. He is a busy person, running his own business, but he takes some time to talk with me, and I appreciate that.
In this conversation, you will hear Bill and I discuss some of the common questions we face in real estate investing coaching. This discussion is centered on the topic of private money. We talk about some of the different places you can acquire private money, how to start that conversation, and who to look for when it comes to investors. You will also learn important information about what types of questions to ask potential investors. Bill shares a lot of great information in this conversation and you will walk away with actionable items to grow your business.
Connect with Bill Allen:
Website – www.blackjackre.com
- [04:26] – Private money is where you want to end up. How to line up private money is a very common question we face. Bill and I have both raised private money and share some thoughts on acquiring it.
- [09:25] – Bill explains why he is in a soft-sell mindset in private money discussions.
- [10:25] – Bill shares details on the initial conversation he had with a person interested in investing in his company.
- [12:08] – Bill lists the options that investors have.
- [15:39] – Bill describes some of the sales techniques he uses in this discussion.
- [17:24] – Bill shares the danger in offering an interest rate that is “too good.”
- [20:11] – Bill explains why he prefers unsophisticated or average investors.
- [22:33] – “Where is this money coming from?” is a question Bill asks potential investors.
- [24:51] – Bill shares where he starts the process of finding private money. He explains the role that social media has played in securing investors. He gives you some tips on getting organized with your networks.
- [30:08] – Bill provides us with an example of an elevator pitch to potential investors.
- [32:35] – I explain why you should not wait to tell people what you’re doing until you’re successful. We talk about how water cooler chit-chat can help spread the word about your opportunities.
- [36:46] – Bill talks about dealing with investors that smaller amounts of money to invest.
- [40:10] – Bill shares some advice for people starting out in investing and trying to find leads.
- [46:53] – I explain why I kept my day job until I felt it was the right time to start investing in real estate full-time.
- [50:08] – I share that raising money and driving leads IS your business.
- [51:42] – Bill says there are several places to go for private money.
If you’re interested in learning more about our coaching, email me – firstname.lastname@example.org. We’d love to help you meet your goals.
If investing and real estate is your dream, there is only one way you can make it a reality…JUST START!