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One of the things you need to do in real estate investing is come up with an elevator pitch. 🏘️🛗
You need an elevator pitch, especially if you are looking at dealing with investors because those investors, they're pretty busy and they're looking for a way to make money. They want to get into real estate investing, but they don't really have a lot of time and they don't want to spend the time managing all the intricacies of real estate investing. 🛗🤾👨💼💰⏳
You need to be able to tell potential investors really fast, what you can do for them.
Here’s an example of an elevator pitch, “Hey I'm involved with real estate investing. I help people that want to do real estate, who don't have the time to do real estate to make money and become financially independent. If you'd like more information, I'd certainly like to spend some time with you. If you want, we could set up a meeting to discuss.”🛗🤾🕒💲
And then the next follow-up would be to either send them some marketing materials or set up a meeting with them and walk them through your pitch deck.
For a motivated seller, an elevator pitch might be something like “I help people in difficult situations by providing them with alternatives to foreclosure and to bankruptcy.” If you're working with a motivated seller, a lot of these people are in those situations where they're looking for solutions, right? 🛗🤾🏦
The idea behind having an elevator pitch is that you are trying to get the person's interest.
An elevator pitch is like a headline in an ad that you're running, right? So the concept is that you're getting their attention. And then you're trying to get them to the next step, which is usually booking a meeting or booking a phone call.🛗🤾🗞️📞
I wouldn't just send over information without a meeting.
You should never send information to potential customers without having a conversation first, or at the very least, without having a call.
Information should be provided after a call. So, for example, if you have a potential investor, you get them on the phone, you talk to them, you tell them what you're doing. A lot of these calls should be about building rapport and building relationships with these people. Getting them to know you, getting them to trust you. Once you do that, then you can do some follow-ups and say, “I'll give you some information and we can do a follow-up conversation.”📞👨💼👩💼🗣️
So, the elevator pitch gets you started, then you implement what I call negotiation tactics. And also your sales processes are important here as well.