What’s stopping you from investing in property, or more property? Is it a lack of finance? If so, you’re probably looking at things the wrong way.
It’s no secret that joint ventures (JVs) are the key ingredient for building a healthy property portfolio. What is more of a mystery, however, is how you actually secure JV partners.
While the property experts are all shouting about the importance of JV deals, you’re left wondering how to make yours a reality.
Never fear, it’s all about the pitch, and we’ve got five top tips for nailing yours right here.
Pitch tip 1
It’s likely you only have a brief opportunity the first time you meet, at a networking event for example, to capture their imagination and grab their attention. Make sure you do so with something unique and compelling. Bear in mind, too, that investors invest in people, so you are an essential part of the deal. Be likeable.
Pitch tip 2
Private investors are pitched to every day. Clarity is always better than persuasion, so make them aware of the need to do business with you. Identify their pain point and actively promote a remedy. Speak in their language and focus on being understood.
Pitch tip 3
Offer them a unique solution. A profit share in the cashflow and equity. Differentiate yourself by your unique value – what can you offer that no one else can? (Investors aren’t keen on ‘me too’ ideas).
Pitch tip 4
Every investor is sold on perceived capability. You can build this by displaying positive examples of your determination and ability to get the ‘job done’
Pitch tip 5
If a potential JV partner is interested, offer to buy them lunch so you can talk more about your property investment proposal. With any luck, this will be the start of an everlasting and successful JV relationship.
Don’t be afraid to show your passion and enthusiasm – it could be the difference that makes the difference and gets you another conversation.