Just Send me Something. Why That is Not Enough

Anyone who’s had any experience in deal packaging will know that the often-used statement from investors “Just send me something!” is never enough. It’s far too passive, and mostly ends up in a no-deal situation. With David’s help, and by following a few easy steps, you can turn “Just send me something” into a moneymaking deal for both of you. In this week’s show, he’ll tell you how… KEY TAKEAWAYS When you meet people at networking events, there’s a tendency to say things you don’t necessarily mean. The key is to qualify these promises. You need to gently find out from your investor a few kay facts that’ll help you to get on the right track: What are their goals, dreams and aspirations? What is their financial criteria? Do they want to work with you? Will you pay me for my valuable service? Use the compliance qualifications that we achieve in order to become a deal packager, to qualify your investor. Tell them that you are happy to send them a deal, but make mention of your compliance, and that you need some information in order to go ahead. Ask for the following items before you proceed: Proof of address (Utility bill or bank statement) Picture ID (This can be seen at a subsequently arrange meeting, which can also solidify your relationship) The act of setting small hurdles at the outset of your dealings, will also prove that your investor is serious, and that they don’t mind working to the beat of your drum. Make sure that your investor has enough money to invest seriously, as your time is precious. A nest-egg might seem large to some investors, but it might not be enough to make a serious investment with. The crucial final step in this initial process is to make it clear that you are providing a service, and that your fees for providing that service are acceptable. BEST MOMENTS ‘Of course you should go to networking events’ ‘We’ve got to get you through that barrier, over that hurdle, over the pothole’ ‘You have to know what people want before you go out and look for deals for them’ ’Are you prepared to pay me for me to go out and source you a fantastic deal?' VALUABLE RESOURCES Property Sourcing Profits Podcast https://www.progressiveproperty.co.uk/ https://unlimited-success.co.uk/ https://www.facebook.com/groups/progressivepropertycommunity/ Get Into Property - by David Siegler - https://www.amazon.co.uk/dp/1909846589/ref=sr_1_6?keywords=David+Siegler&qid=1570019066&s=gateway&sr=8-6 ABOUT THE HOST David is a property expert with over 25 years’ experience and his own portfolio of 26 units. His current rent roll is in excess of £10k per month. He is also a partner in a Deal Sourcing and Packaging business in the North West of England and has sourced over 250 properties for investors since 2004. In recent years he has, by necessity, had to develop an expertise in LHA strategies. This area is increasingly becoming a niche for him, and he enjoys empowering other landlords by sharing the knowledge he has gained. The ultimate purpose when sourcing properties in this sector for investors is to minimise risk while maximising profit. He has had to find answers to the challenges of Tenant Find, Management, ensuring rents are paid and the transition to Universal Credit. These are strategies he uses in his own business and also on behalf of investors. His investor clients regularly achieve annual gross yields of over 20% with high occupancy rates and voids resolved, sometimes within hours. CONTACT METHOD https://www.linkedin.com/in/david-siegler-7b126316/ https://www.facebook.com/DavidSieglerInvestments/