By far, the question “how to get real estate investors to say yes” is among the TOP frustrations I deal with every week with coaching clients, students and mastermind attendees.
So , let me be right up front with you so you don’t waste any more time:
If you believe you can influence someone by “convincing” them how they’re wrong about what they see and believe about real estate (or whatever for that matter) – you’ve already lost.
Influence is how to get real estate investors…
and influence happens when you translate your TRUE belief – without doubt in what you’re doing.
Question is: Do you HAVE that belief?
Are you absolutely certain your business generates what you say to potential JVS?
It’s not a question of who is right or wrong, it’s about what YOU truly BELIEVE – and I would argue that MOST real estate investors have trouble with the belief part.
I know what you’re thinking…”Joe, I HAVE belief or I wouldn’t be doing real estate”
Yes you would.
I would suggest that like me, you got fed up of how you’re life was going, got wrapped up into the fantasy of making real big money in real estate, quitting your job and living in a hammock 6 months out of the year in some tropical paradise.
Or something like that.
No doubt real estate is an AWESOME vehicle for wealth – my debate is NOT about that.
My challenge to you is IF you truly believe in what you are doing.
If you say you do, what evidence do you have that proves that beyond a shadow of doubt?
If you can answer that – I would ALSO suggest you start telling others about it.
Let me give you an example:
When I started real estate investing, “full time” in 2008 it was because I gave up everything to do it. I didn’t have a job to go back to and I invested over 250k from my own Line of Credit on our “just paid off house”.
THAT’S belief – that’s influence my friend!
Yes, I get that not everyone is in the same boat to begin, but it doesn’t matter.
YOUR story is what influences and inspires people – not the numbers.
Do you know why?
Because numbers have ZERO emotional content. They MEAN nothing – UNLESS we attach those numbers to something we want, or want to get away from!
Got it?
So when I tell my (potential) JV partners that I’m living without stress, and enjoy freedom…I am. I’m not saying I NEVER get stressed or “busy” with work, but for the most part, I’m living what I’m “selling”.
And they usually want what I have.
I don’t lie that real estate (yet) has given me my freedom – I had a lot of other factors in my life to get me “freedom”. (Selling my family business was one)
It’s the other stuff I translate – the ‘life balance’ I’m working on – the not having to go to work in the dark morning cold every day that gets ’em jazzed up.
And still, there’s parts of my life I’m WORKING on being better. And I let them know that too!
What about you? What is YOUR story? How can you use your true belief in real estate as influence?
Remember, people’s BS meters work really well. So if you’re trying to ‘trick’ yourself into believing, how do you expect to make others believe and trust you?
The Freedom Gimmick
Warning: Personal Rant
I’ve sat listening to people who try to “sell” the freedom dream – that their new found freedom was apparently from real estate. The truth is they still have a job. All they did was take a leave of absence to “try” real estate full time. So in reality – if things don’t work out, in the back of their mind, they STILL have the “secure” job to go back to.
Nothin’ wrong with still having a job, but I have a problem with them selling the freedom they DON’T really have.
And a LOT of people WANTING that dream get caught in that hype.
Don’t get me wrong – I’m all for taking a leap of faith – and however you do it is up to you – no judgement – because we all have different circumstances.
Not everyone is as blessed as I was to have a company to sell. But at the same time, I jumped – I DOVE into the real estate with everything I had. Money included.
I was … and STILL AM fighting every day for my freedom. I want to KEEP the freedom I have, and get MORE of it.
But if you’re telling people and JVs that you’re now ‘free’ because of real estate and you really aren’t, that’s just not cool in my books.
That’s like a BMW car salesman telling me how great the car is and he pulls away in a Mercedes.
Doesn’t add up.
All I’m saying here to you is: be believable. And you’re believable by living what you’re “selling”.
If you WANT freedom and to quit your job but aren’t there yet, TELL your JV that. TELL them how “hard” things are…the challenges you’ve faced and the reality of the “get rich quick” BS real estate dream that you got ‘caught’ in – they’ll feel connected to you.
Your inspiring tales of struggle and connection to the same things they want paired with your absolute belief begin the influence process.
Not a script or fancy sales talk. They’ll see right through that.
Good tips Joey – honesty is the best policy. When you give people the good, bad, and ugly they trust you more. When you can relate to potential partners as a human beings and be transparent with your own goals, wants and challenges instead of pretending you’ve already got everything figured out, it goes a long way. Finally, “drinking your own kool-aid” is key – you can’t preach and believe in one thing and then personally invest in something else.
Thanks Andrew. I’m not sure why people still lean toward hyping people with BS – the ‘hero’s journey’ is what people want to know. They want to feel that they are like you – not one person in this world has danced through life (read:investing) without feeling some sort of pain. Talk about that. Thanks for your input Andrew.
My guess is that people think nobody will trust them if they aren’t perfect, so they try to fake it until they make it. In my experience I have learned people will trust you more when you admit your own shortcomings, highlight the risks, and tell them why you NEED them to make a win-win deal happen.
Right on. There’s a LOT of people out there ‘faking’ it – and that’s why I wrote the post. More and more I see people coming into my coaching believing the hype and as you know – I’m a ‘tell-it-like-it-is’ guy, so when reality hits them, everything shifts. “marketing” yourself is doing everything you have said – leaning everything in their favor showing them what value you have to give them (from THEIR perspective – not ours). The world is (especially real estate) is full of hypesters and hustlers – stay true to you – stay true to your story and the right people will follow you. The rest don’t matter. Rather than ‘faking it till you make it’ “Believe it until you become it” (and belief is the hardest part for most)