You’ve most likely heard the saying, “Just find a good deal and the money will come.” But is that really how it works? According to today’s guest, that’s total hogwash. From personal experience, our guest believes that you need to build capital up before you go finding the perfect deal. Today on the show we welcome Dave Dubeau. Dave has been an entrepreneur since 1993 and a real estate investor since 2001. In that time, he has done deals ranging from creative, no money down transactions, rent-to-owns, and more recently, multifamily properties. Dave is the author of seven books and has been teaching and training people about marketing and real estate investing since 2006. In this episode, we are focusing on a very important and rather challenging niche as an active real estate investor; raising capital without rejection. Tuning in you will hear all about raising capital, the do’s and don’t’s, how to find the best investors for your business, where you need to focus if you’re just starting out in this business, he also shares about their three-step warm-up email campaign, and so much more! So make sure to tune in today!
Key Points From This Episode:
- Dave shares more about himself and what he currently does.
- Why Dave thinks the saying: “Just find a good deal and the money will come,” is false.
- Why you should start by building capital before you find the “deal.”
- Dave’s recommendations for investors: self-finance your first few deals and gain experience.
- Best ways to find a group of investors before you have the deal; who should you focus on?
- The challenges: the know, like, and trust factor, and going by the law.
- Your starting point for building capital: your sphere of influence.
- Dave’s advice on the best way to approach potential investors: break the ice first.
- Hear about their three-step warm-up campaign email.
- Why it’s important to have a genuine reconnection with the people who get back to you.
- Dave shares an example of the third step in their campaign: allowing people to opt out.
- Conversion ratios: looking for a 10-15 percent response rate.
- How to show people what it is you are doing: slide show presentations.
- Lifetime value of a client: how to calculate the lifetime worth of your investor(s).
- He explains the referral multiplier and how that plays into the client’s lifetime value.
- The one tool he uses in real estate investing that he cannot do without: Zoom.
- The main takeaway from his biggest mistake in real estate investing thus far: money partner formula.
- What Dave needs to do now, to grow his life/business to the next level: delegating things out.
Links Mentioned in Today’s Episode:
No Sweat Real Estate Investing
The Rent To Own Solution To Home Ownership
RedIQ
Virtual Asset Management Summit 2021