Building Relationships and Raising Capital with SyndicationPro“Treat every investor like they are a million-dollar investor.” ~ Vinney ChopraTaking this real estate investment philosophy a step further, always treat your investors like they are investing $1M. Because when you do so, it will, eventually, be a million as word-of-mouth comes into play.
Automating The Process of Raising CapitalBack when I started off with syndications, my daily schedule involved a lot of monotonous tasks like:
- Making calls,
- Having the same conversations with different people,
- Sending out a bunch of personalized emails, sometimes with PDFs,
- Maintaining a spreadsheet to keep track, etc.
Listen To The Podcast Here: Building Relationships and Raising Capital With SyndicationPro
Some Crucial Things A Platform Like This Does
- Raising money along with an element of customer service.
- Investors have their own corner with a dashboard and an environment for updates, documents, and distribution history.
- Time-saving: While raising $2 million from twenty different investors, we end up spending around 120 hours when moving from A to Z. Platforms like these help us cut down to 30 hours, saving our precious time.
- Verification of the shared documents. How much are they investing? How are they investing?
- Helping investors streamline the entire process, answer to “What they are supposed to do next?”
- An opportunity to interact with more serious investors – Not all the 5 -10 investors registered on our platform are serious ones, so instead of calling all of them, we let the investors schedule the call. Others are going to be in your email base who will circle back when they’re ready to invest.
Ways to Increase The Number of Investors
- Pick a few channels to create awareness like Podcasts, Blogs, etc.
- You can leverage BiggerPockets for this as well. It has a huge community of investors that can help you land a spot in meetups, conferences, and events – networking basically.
- You can get leads by touching base with the local news outlets, like The Business Journal, sharing your plan for the next several months.
- Being an active member of communities like BiggerPockets and staying connected with your active investor community as they are your source of “word-of-mouth referrals”.
Building Relationships and Growing Your Database
- Getting on a call, that’s the first step as it’s a chance to know them, understand their background, their investing experience is, understanding who that person is from an organizational standpoint, etc.
- Sending out emails (not too many), at least once a month either about an upcoming deal or the updates from the quarter.
- Having a webinar session about the good and bad things that happened in the quarter and highlights from our future plans – what we’re working on and what’s coming ahead.
Technologies To Leverage
- MailChimp to professionalize and manage your contacts.
- Calendly to get in touch with people rather than doing the generic contact form.