Perhaps you’ve read Our Story so we won’t go over that, but the important part to know is that we bought over 100 properties, using only $25,000 or so, of our own money. Everything else was other people’s money (OPM). Seems crazy to us now to even say those words, but its true. It really happened.
We’d heard people say that it could happen and that the first couple were the hardest and after that, its “easy”. People will start offering you money left right and center. Really????? Seemed so tough to believe….
But soon enough, we were living proof that it indeed does happen.
At 24, we were homeowners and business owners, but had no down payment money so if we were going to buy as much real estate as we’d hoped to, we had no choice but to find partners.
At one time or another, everyone hits a wall and runs out of money or out of the ability to qualify for more mortgages. Some of the greatest business people in the world will tell you to use other people’s money whenever possible (Warren Buffet anybody?). So why wouldn’t you?
Now we won’t go so far as to say its easy – especially at first – It sure doesn’t fee easy when you are in the middle of it. But once you get a couple under your belt, it really does take on a life of its won. People start coming to you, offering you money, even bringing your cheques you didn’t ask for – but getting started is where the real struggle lies.
At 24 years of age, asking someone to hand over $100,000 was so overwhelming and fear inducing, we may as well have been asking for $10 million.
We were paralyzed by it. But the more we learned about real estate, the more would could see its power and its ability to change not only our lives, but that of our families lives.
And that was too good to pass up.
So we hit the pavement. We talked to everyone we could about real estate. Family, friends, co workers…anyone that would listen (note; we probably could have turned it down a few notches, and have since figured out how to systemize not being obnoxious, pushy nor ackward, but we were newbies then).
We attended every seminar, conference and workshop there was. We went in and told everyone that we had a goal. We were going to buy property, light reno or rehab it, manage it, eventually sell it, and all we needed was the money to do it.
The more people we talked to, the more we noticed the same general questions that came almost everytime. The more we got the questions, the more we figured out clear, concise, confident answers to those questions. The more confidence and knowledge we showed, the more they wanted to know what we were up to, what deals we presently had and the more yes’s we started hearing.
So we definitely did it the long way – we did more than 100 sit down presentations to people that were interested in hearing more about what we were looking for. Out of that we netted 13 different JV partners. It was pretty tough going. The rejection time and time again took its toll. Multiple times we felt we might just be done, not be able to do another one.
But lucky for you now, we now have a proven, documented system for:
- How to start those conversations without being awkward
- What to say at a sit down meeting with any who show interest
- A template Presentation – not too much info, and not too little, it is now, through much trial and error, just right.
- How to answer the tough questions, word for word.
- Reporting Spreadsheets with fill in the blank spots that make reporting to your partners a simple, stress free task.
- The biggest obstacle we’ve seen that stops people from finding JV Partners – and the fix for it.
- Practice Sessions for perfecting your presentation
- Next Actions when someone says Yes and wants to buy a property
- Due diligence on your partners; how to have those tougher conversations easily
Access different courses in one location, from professionals that are experienced and the top in the field in Joint Venturing.
For example, our Joint Venture Jumpstart is the same program that we used to do in our live, in person, group coaching – wrapped up nice and tight in a learn at your own pace, worksheet based, online course. This is the course for both newbies and experienced investors looking for another Joint Venture Partner.
Barry McGuires Joint Ventures – The Legal Perspective gets into all the technical details behind Joint Venturing from a Lawyers point of view. The lawyer we used for all our transactions, the lawyer that answered all our questions when we were learning.
Update: We do still offer the Ditch The Pitch program in that once you’ve completed the course, you have an opportunity to present to us, as if we are your JV Partners, Dragon’s Den style. Its so much fun and so very powerful. I cannot tell you how many of our clients have gone on to nail their presentations again and again…bringing in JV Partner after JV Partner.
Visit our Course Page to learn more and don’t hesitate to send in questions. No man left behind…if you want this, we’ll help you get it.