How to Raise All the Capital You’ll Ever Need to Fund Your Deals
We just wrapped up our monthly Paper Profits Fast Start Workshop this past Thursday & Friday with passive income investors from 9 different states. Several of the investors have now attended over 10 of our workshops and I had a chance to ask them why they keep coming back.
Another packed house of real estate and note investors at our November workshop
Here were some of their answers:
- “I make a new connection every time I come back to help me grow my business.”
- “I hear the mistakes others have made and how I can avoid them.”
- “No where else have I gotten as much hands on practice evaluating actual assets.”
- “I learn new things going through case studies that cover various stages in the lifecycle of a real estate note.”
- “I get recharged seeing other PPMG members and attendees share their success stories.”
I get a LOT of fulfillment out of hosting these workshops and love to hear how they help investors take their passive income investing to the next level. IMPORTANT NOTE… Over 80% of the attendees also came looking for some advice on how to bring on new capital partners to help them hit their passive income goals. If you focus on the last two reasons above – you’ll find the advice they (and maybe you) were looking for. I have TWO of what I call ‘Capital Magnets’ that have allowed me to attract more capital than I currently have high quality deals to fund. They’re at the core of reasons #4 & #5 above:
- Capital Magnet #1 – A Free Lunch
- Capital Magnet #2 – A New Success Story or Two
I have made a habit of taking at least TWO people within my network to lunch every week. I’ll pick up the tab…so there is such a thing as a free lunch 🙂 Everybody has got to eat lunch everyday! The great thing about ‘breaking bread’ with somebody is that it allows you to get to know them on a much more personal level than if you just met up at your office or theirs. My initial focus with these lunches is “Service Before Self” or in other words, “How can I first help them solve a problem or overcome a challenge they are currently having?” After brainstorming and troubleshooting their problem or challenge, it almost always leads to the natural response from them, “Thanks for helping me. How can I be of help to you?” And since I have the goal to always have a new success story or “case study” to share each week, I am able to tell them about it. I provide “proof” that what I do works and I “educate” them on what I do (KEY word is “educate”). I then tell them how I could use some help with an introduction to somebody that would like to earn 6-8% on their idle savings or retirement investments – allowing me to free up my money in the deal and go and buy more similar deals. I don’t always get an immediate name, but often times I do. Often times it’s them!! This process has led to multiple new passive investors for existing and future deals. Rinse and repeat. Rinse and repeat. Stay consistent and approach each lunch with a servant mindset and watch what happens. Just yesterday we had lunch with an investor who has had rentals for 15 years and has done multiple fix and flip deals. He currently travels a lot and is looking to really simplify his investment structure to be much more passive. Guess who can help him out with that? Is this over simplified? Are you skeptical that these two simple capital magnets will help you attract the capital you need to fund your deals? I’m here to tell you that these are my top two capital magnets and I employ them every week to attract more money to fund my deals. Try it for 4 weeks and e-mail me to tell me what happens. I will guarantee it will create momentum in your quest to build a solid passive income! NOTE: We have an entire 4-Hour LAB devoted to Raising Private Money (along with 6 other LABs) at our upcoming Note Investor Summit that’s just 55 days away – click here to learn more. Our team here at NoteTools.com wants to help you win! We’ve created 3 different opportunities for you to prepare to win this passive income game:
- Our Monthly Workshops – NoteTools.com/events
- Our Paper Profits Mastermind & Coaching Group – NoteTools.com/mastermind
- Our Annual Note Investor Summit LIVE Event – NoteInvestorSummit.com
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