I need maybe $10,000 or $20,000 to get started. Any ideas on where to look for someone willing to help, lol
Yeah all of us are going to open our wallets to someone they never met before on an open forum who is blindly asking for money :rolleyes
You might want to add some more info like who you are,where you’re from,your years of experience in RE and why you need the money in the first place and maybe someone will take you seriously.
A word of advice: when you want something from someone it’s much more effective if you request in a way that highlights what’s in it for THEM, not YOU.
Okay John, this is the worst appeal for start up money. Let’s parse this, might we?
I “need” — [RED FLAG. If you “need it” nobody will give you any.]
maybe 10k to 20k — [Which is it? $10k or $20k]
to get started — [Oh, crap, you’re just starting…!?]
any ideas… LOL — [So, this is only a joke request?]
I’m just having some fun with you John! Don’t take it personally.
I agree with the other feedback you’ve received.
Tell us exactly how much money is necessary to make “x” dollars, or a range of “x” percentage of return if they invest with you. Show them your plan, and what to expect if they invest “x” dollars in your plan.
Don’t ever say you “need” the money. Tell us that you’re finding fantastic real estate deals that you need help taking advantage of. This infers that you didn’t just fall off the turnip truck, but have been out beating the bushes and know your market well enough to recognize actual deals.
Tell about the fish that are getting away. Give an example.
Here’s a deal that I lost, because I didn’t have enough cash.
$200,000 ARV
$45,000 Repairs
$75,000 price
$20,000 costs of sale
$60,000 Profit
Here’s something I might write (the numbers aren’t important, except that you’ll attract money for whatever amount you mention)…
If you’re not investing with me right now, you’ve already lost $100,000 in potential profits!
If you’ve got cash sitting in the bank collecting a measly amount of interest, you’ve already lost about 10% to inflation this past year, according to the Standard and Poors inflation report for 2010. If you would prefer to beat inflation to a pulp, and rake in at least a 10% to 12% return instead, without having to work for it, then join me in taking advantage of the real estate deals I’m finding right now. These opportunities won’t last, so call me right now.
…
That’s not all, but you need to zero in on your prospect’s “need” not yours. He “needs” to protect his money first, make more than he’s making, and you offer the solution. Then show how you can fulfill the promise. I’ll leave the rest up to you. Do just this, and the rest will sort of come to you. You’ll get more feedback from others, and even people who call you, will give you clues of what to say the next time.
[You could add what you’ve been doing, what you’ve passed up (with details) and what the minimum investment you expect, too.] BTW, you don’t want a bunch of small investors for one deal. You want one investor who can fund the entire deal.
That’s it for me. Have fun, and good luck!
Hey, give the guy a break :biggrin - he went a little too straight to the point, true, but at least he knows what he wants.
Let us know what you need the funds for and we can guide you the best possible way to get it.