This is the fifth episode in our special Q & A Series. We look at how you find investors and deliver them the deals they want.
- Existing investors to VIPs
- Relationship building
- Adhering to your requirements
Mark: So Fiona asked a question, “How do you find investors to source to order?” So good one. So source to order for anyone that’s listening that doesn’t know what that might mean. The way that Goliath works is we’ve got a VIP sourcing service where we source to order for specific clients so we work very closely with our clients, they tell their requirements, we then go out and find property for those requirements and then we package and sell the deals to them. Anything that’s not suitable to them, we will send out to our list.
So needless to say, we’re the investors on a source to order basis. What we’re going to want to do is we’re going to want to meet these people so we’re going to want to get to know them personally, we’re going to want to build a relationship with them if you can, and we’re going to make sure that we prequalify people as well. So in order to prequalify people of course, what we’re going to need to do is how people trust in you and won’t prepared to give you that information and vice versa. You know, if they don’t give you the information, they’re not going to be suitable for your VIP service.
The first place absolutely network meetings. So again, we’ve mentioned it earlier, tell everyone what you do, what you will then do that sort of extension of that, the moving forward from that is going to be at the networking meetings, we’re going to be speaking to investors in a lot more detail, we’re going to make sure that we get on with them and then needless to say, we’re going to go and find out what they want and go find those deals for them.
The other thing is if you’ve maybe sourced a few deals before and you’ve gotten an investor list or even one if you’ve sourced one deal with a mysterious investor, there’s a very high chance that they are going want to buy more deals because of course, serious investors are going to want to spend more money on deals especially if you provide them a good one, they’re going to keep wanting more and more and more until they ran out of money. So going back to people that have bought deals from you, make them aware of the VIP service that you offer, the sourced order program, and upgrade them almost so you can, it’s quite a feel good factor to sort of upgrade someone on the list into a VIP program. So that’s another perfect way to add investors into your sourced order.
And one thing I’ve just wanted to make a sort of tip on is just make sure you’ve got strong relationships with them like mentioned before and always make sure that they comply with your requirements so requesting proof of funds, ID, if you’re going to get a sourcing contract signed because that is really, really important to sourcing to order because what you don’t want to do is spend a load of time and load of marketing spend sourcing a property deal for someone in a specific area and then find that they cannot commit or they pull out or they waste your time and you end up affecting the seller, affecting yourself, and needless to say, it will affect your income because you won’t get any. So hopefully, that sort of covers it but really, sourced order is network meetings and friends, family. Again, anyone that you know well trust that so you want to be moving inward; not moving inward. That be right odd.