When you meet a potential investor for the first time as a property sourcer What do you say?

In this episode, David is responding to a question from one of his mentees about hoe to successful navigate the initial meeting with a potential client.

David provides invaluable detailed advice based on his extensive experience as a Property Sourcer, so tune in to find the answers that will ensure your initial meeting with a potential investor will be successful.

 

KEY TAKEAWAYS

• For clients 1 to 10 make sure you have practised, beyond this you will no longer need to.
• When you make contact with someone who might be interested arrange a meeting making sure you offer them options around time and dates.
• We are all busy and if a potential investor has given up their time in a working day then they are interested.
• You know that they are there for a reason, they have a problem and you may be able to help.
• The number one question on your script must be ‘how can I help’ you must then remain quiet until there is a response, you must listen.
• The meeting is about them not about you.
• This is a fact-finding mission and you need to find out all the information you can.
• The purpose of this initial conversation is for you the deal packager to find out what they want and if you can help them.
• You should take them on the journey explaining what you do as a property sourcer and use this point as the opportunity to explain your fee structure and what you charge for your services.
• It's important that you are able to convey how you can help them and that what you do is valuable to them.
• Explain that your professional relationship with them could potentially span many years.
• Dependant on how the initial meeting progresses will determine whether you decide to discuss specifics.
• A second meeting can be useful and if you are a new property sourcer showing potential investors what you are proposing and viewing potential investment opportunities on the  ‘geographical patch’ can help build a professional relationship and trust.

 

BEST MOMENTS

‘You need to paint the picture of what you  can achieve for the investor’

‘You can take it from the worst house in the street cosmetically to the best house in the street cosmetically’

‘What are they trying to achieve and what do they need’

 

 

VALUABLE RESOURCES

Property Sourcing Profits Podcast

https://www.progressiveproperty.co.uk/

https://unlimited-success.co.uk/

https://www.facebook.com/groups/progressivepropertycommunity/

 

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/