What Investors Ignore When Raising JV Capital
Email Joey Ragona – Mention TheRedPin and Get 30 Min Free Consultation
Each day as I’m personally coaching real estate investors, we chat a lot about one of their BIGGEST frustrations: raising JV capital. Many of them are challenged because they aren’t naturally born sales people … and that’s the BEST thing in my opinion.
I’ve never been an outstanding salesman, but I’ve somehow sold records at three times their RETAIL price all over the world to a customer base of about 5000 when the internet was just a fantasy word…when I was just 21 years old.
How’d I do it? In short I solved a problem and delivered massive value and integrity with my service.
What does that mean to you and getting JV partners? First, you must understand what your ‘product’ is (great ROI, less risk, etc.) and then you need to dramatically raise the value in your prospects mind with additional information explaining how it IS the solution to their pains and frustrations.
This means you MUST know who your customer is; understand what they believe the solution is no matter how it sounds. What they see as value must equal or exceeds the ‘price’ (investment) you’re asking.
You accomplish that by asking your customer very important questions that will reveal their CURRENT problems such as “What’s your BIGGEST problem right now?” or “What are your feelings about your investments these days?”
Two of the BIGGEST mistakes investors make are:
- Thinking they ALREADY KNOW what those problems are without asking.
- Trying to “sell” the future.
In my experience, struggling real estate try to “sell” the deal based on the reasons they are investing in real estate, not the reasons their prospect would want to invest. I hope that makes sense.
The bottom line is that if you ignore this basic ‘technique’ of asking your potential JV partner what they want, you’ll wear out your best contacts and find yourself stressed to ‘find’ new prospects…which is a tough gig.
If you want a bit more clarity on ways to attract more JV prospects, or you have some specific questions, I’ll take on ten (10) FREE 30 minute consultations if you mention TheRedPin. Just email me at:
Email Joey Ragona – Mention TheRedPin and Get 30 Min Free Consultation
