Raising Finance Talks

How to start a conversation and communicate confidently with your next property investor

• Sam Hill and Alastair Bennett

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In this episode you'll learn:

- Easy conversation starters 
- How to build relationships with agents
- Being open to seeding and being discreet 
- The power of opening a conversation with investors 
- How to get rid of hesitation
- The importance of preparation and telling the truth

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Al:

Welcome to Episode Six. Sam, I'm really happy about this one because you know how much I love a conversation. This one is all about how to have powerful conversations with investors, of course. So here's what you're going to sort of get from today's episode, we're going to talk all about how to communicate and start conversations confidently how to gain attention that leads to interest, and how to boost your overall confidence in your offering to investors. Hey, guys, you're listening to raising finance talks with Sam Zell, we're on an absolute mission to help developers raise their first millions of investors. So they can go on and do deals with six figure profits.

Sam:

So if you're not moving forward with your property business, for a lack of cash, then this podcast is for you. We're going to deep dive into all aspects of raising private finance. So thanks for listening. And let's dive in.

Al:

May, I'm really excited about this one, because we've done a lot of work in the previous episodes all about how to build your opportunity. But now, we're in that conversation part of things. And you know how much I love it. So excited about this, you love a chat, love a chat. That's why we've got a podcast. So the first thing we're going to cover today is always be seeding what you do and where you're going. And first of all, we're going to start with actually a couple of stories that Sam and I have about sort of our experiences of using this always be seeding kind of mentality. So let's just get in a deep end may take the armbands off. And let's hear a little bit about your story and what your experience of this and how it helped you.

Sam:

Yeah, so once we had been working together for a little while, and I got to the point where I was just sort of dropping in little conversation starters and making sure I was telling everyone what I was up to everywhere. And any kind of any situation I was in, whether that would be in the counter in Sainsbury's or at a restaurant somewhere just just for fun, I'd always try and drop in what I've been up to that day and just put it in the conversation just always be seeding

Al:

love, it may always holding up the cashiers by telling them what you're doing.

Sam:

So yeah, once I've been doing that for a while, and I was actually selling my house, and I had the add a house I wanted to buy that was already on the market. So I knew that I couldn't sell my house for another couple of months, because we're just finishing work on it. I made an offer anyway, obviously, I couldn't proceed because my house wasn't finished or even on the market yet. But when the when the agents did come around, I hadn't met them before. They were a local agent, but I hadn't dealt with them as a developer before. So when they came over for look around, though, you know, quite impressed with the property. I'd done a lot of the work myself actually with my dad and a few other few other mates. So yeah, it's just finished look really good. And they were quite impressed. And I said, Well, I you know, I've done the work myself. And also I do this as a job anyway, I'm a developer. Nice. Yeah. Just drop it in there. Of course. Yeah. And when I went to drop the keys off with them, just before viewing started, another week later, one of the guys was outside the office. And as I walked past him just said, Hi. I'm just going to drop the keys off to and he said, yeah, thanks for that, Sam. He said, Oh, by the way, you did say you're a developer the other day I said, yeah, yeah. He said, Are you looking for somewhere at the moment? I said, Yeah, Jim, generally looking. Yeah, man. He said, I've got something that's just come across my desk. It's a house around the corner. I know the guy wants this much money for it. Is it nice to sell it within a couple of weeks? Because it's he's just going to trade it on his own. He's a property trader. Is that something you'd be interested in? I said, Yeah. I said, How much do you want for it? And he said, he said the figure, which was a two five? I said, Yeah, sounds like it'll probably works

Al:

to five. Yeah.

Sam:

I would have been nice. So I said, Yeah, I'm interested in it. That was a Friday. And I went to look at the property on the Monday, and we exchanged on Thursday morning.

Al:

Wow. That's pretty cool. Yeah. Yeah. I love that story. Yeah. It's a really good one. Oh, in it, because I think well, two things that have come up here in that conversation. First one will not maybe not dig in too much. But we know it's a massive problem is building relationships with agents. And people just really, really struggle with having conversations with agents and stuff like that. And I just highlight to them a really slick, but not sort of outrageous example of just the way in which you can see what you're doing. To agents, for example, and really that they are open to having conversations.

Sam:

Yeah, that's it. And actually that that agent obviously looks after him for for bringing me a nice off market deal and went out for a few beers once completed as well. Yeah. And he's actually a good friend now. Nice. He left he left agency about a year after I first met him, and he now works in investment. And, and actually found out after as well as dad's a developer, now, pretty much retired developer who is interested in investing seven figures. So from that more investment came. Yeah, despite just by seeding

Al:

and just go know what you don't know, right? Yeah, exactly. Yeah. People have got up their sleeve. So yeah,

Sam:

indeed. Yeah. And now this guy works in investing. He's also got people who have got eight figures who want to invest in London in the southeast. Yeah. So all that came from just seeding in who I was, and what I did in that first meeting in our kitchen with the estate agents.

Al:

Is this the same guy that has like 15 million or something? Yeah, yeah. Nice. Okay. Now, it's amazing. And it just shows for everyone at home, like, you know, just being open to like putting yourself out there, or not in a arrogant sort of salesy way, just seeding the word seeding is planting a seed. It's, it's it just, it's nice and discreet. It's just being open to doing that as much as physically possible. Is, is a really great way to get into these conversations, as a story suggests,

Sam:

yeah, and you don't, you know, if you're just getting started in property, and you haven't done any development, yet, you can still do it. You can still approach people and just have a chat with them. So this is what I'm up to today. I'm working in property. I've got five viewings I'm doing today, or I'm just waiting on an offer to be accepted. You know, you can say all those things for everyone. And even if you're just getting started, it's fine. You can still drop in all these conversation starters. And just yeah, like we're saying, abs always be seeding. Abs,

Al:

just don't put the brakes on it. Yeah, so I don't know, my story is totally different. It's not so conventional. And funnily enough, it was from quite early on in my journey in property. So you know, I wasn't that experienced in anything to do with, you know, property other than buy to let's refurb flips, little things like that. So I bumped into a guy on the street in where I live outside the cinema, haven't seen this geezer for I don't know, must be, I don't know why I just said geezer they may or not, I don't even say these. I've never said it before.

Sam:

You normally say that when you're taking the piss out.

Al:

Anyway, so I bumped into, bumped into him. I haven't seen him for six, seven years. I can't remember exactly. But it was a long time. Yeah. Used to be a client of mine from my golf days. And he naturally sort of was surprised to see me how you do and haven't seen you for ages. What are you up to these days, and out of my mouth came a very quick and easy opener to a conversation that in all honesty, I inherited from an old mentor. And I'm really thankful for that. Because it was a nice little opener, that to be honest, has stuck with me ever since. And it's it's really powerful. And I just said to him, I'm working with people who don't have the time, opportunity and experience to get into property. And I'm helping them do that. And at the time, it wasn't that smooth. It was a little bit fumbly. I wasn't really out there out there. So it wasn't great, but it hooked him. And he was really interested because it just so happened, that he was that guy that didn't have the time, the opportunity or the experience to get into property. But he had the money. And I didn't know that I had absolutely no idea. This guy like back in the day when I was working with him. scruffy as hell, like you would never imagine in a million years. He's got any cash to throw around. So you know, your assumptions kick in. And that's kind of how I was back then. So, you know, I said this thing. And next thing I know, like a couple of days later, he's sat in my office at home on a chair, basically trying to ram 250 grand down my throat. And I'm literally saying to him, I don't have anything to sell you. I literally don't have anything to sell you. I don't have any developments. I don't have any like anything you can invest in right now at this moment. But he was almost just not taking it. He was just like I want to I want if you've got for me, like that me invested and it was just crazy. So it was what I wanted to say about that was just that it came from that one little opener to the conversation that led into autonomia bit more about like, what is that time opportunity experience? What? What do I and I just talked a little bit about what I'd done like in poverty and things like that. And it just led into quite a, you know, full on, you know, conversation about how much he wanted to invest, which, which is just really interesting for people out there who are at the beginning, maybe or don't feel like they have loads of experience, you can still have powerful opening lines, which we'll come on to in a bit. But you know, that that's really

Sam:

key really cool. Little, little opener, that one for sure.

Al:

Yeah. So it was it was really, really quite a good one. So I mean, yeah, in terms of takeaways, then I think I kind of digressed a little bit into one of them, which was just having a really good conversation starter. I mean, that's really, really key, right? It's it just, it gets that ball rolling in the conversation, being able to see that conversation starter, that for the person that you're trying to attract, ie a potential investor, that that hooks them, it creates curiosity and intrigue. It's really powerful. It's something that you know, everyone should have in their locker. Right.

Sam:

Yeah, that's it. And I like what you say, intrigue is the is the big thing that you get from that from that sentence is, is really, it just, it just grabs people and that people have to ask more questions. Yeah, absolutely. And that's key.

Al:

Yeah. And that's kind of what you're looking for, is that you want them to ask those questions, don't you? Key takeaways, I would say, sort of speaking about what you do all the time. Yours is a great example of that.

Sam:

Yeah, that's it. Whatever situation you walk into, just yeah, when you're about to go into a shop to buy, you know, a pint of milk and a bit of food, whatever, just the local Tesco. Just think about how you could approach someone at the table and just

Al:

locking eyes with the cashier. And so I'm gonna have for you today with this conversation starter? Absolutely. Yeah, definitely agree with that.

Sam:

Yeah, just just always be an up for it all times. Just have it have it in your back of your mind all the times like how my next sort of potential meet up with someone it might be when you walk into the gym, or whatever it is just whatever you're up to that day, like, what are the potential who the potential people you're gonna meet, and just always having that when you're about to go into a situation, then that's the time but it

Al:

allows you to operate on a different level, doesn't it? Because you know, if this stuff means a lot to you, I don't mean you, I know I'm looking at you. But I mean, then guys in the audience, that's you. If it means a lot, then you have to find that way of operating on this kind of level where you because you are looking for investment, you are looking to raise money, right? So your projects rely on that. And everything you do in the future relies on that. So it is about operating on that level. And again, this segues into another or the final, like real takeaway from this section, is being able to communicate what you do really confidently, is really important. It's, it's exactly what we talked about. And you know, that hesitation, getting rid of that, through confidence, and having sort of some idea of what you're gonna say to someone when you seed, what you do, is really important.

Sam:

And the great thing about speaking to people you've never met before, and you know, they're just going to be brief encounters, whether I say like someone in Tescos, or whoever it is, that you have gotten into loose, yeah, you're not going to fuck anything up. Like you just, it's just, it's just a quick hello in passing. And that's it. So if you're able to start doing that, then that's just gonna, and you do have interactions that lasts for a few sentences, or maybe it's a couple of minutes, wherever it is. Whenever you have those interactions with people, that's just going to start building up your confidence in how you can communicate, communicate with people,

Al:

that communication.

Sam:

So when you when you do start communicating with people, when it comes to potential investors, who are you and you're sitting down to have a conversation with them. That's the time when you've built up that confidence. So you've got the confidence and actually speaking out because you've spoken out what you're up to so many times to other people. And you'll also have that inner confidence as well. You know, yeah. So if you've maybe only done while you maybe haven't done any developments, may you've done a couple, or you haven't done much sort of raising finance before. Then if you can, you'll start to just believe in yourself as the developer, I'm talking to, you know, your brain will start to think, yes, you are the developer, because you're talking about it all the time. It's all just like that constant running. Yes, I'm the developer. I'm doing this today. I'm having these conversations, you know, you'll start to believe yourself more if it's something you are new to and now help with your confidence as well. So I really recommend that. Yeah, I'm

Al:

100% sure This is the old adage, isn't it? I mean, this is right all over my vibe in terms of preparation and stuff like that. But, you know, it's the biggest thing, right? And we probably will do an entire podcast episode on preparation, because it is massive. And

Sam:

we'll do three on it. preparation, preparation, preparation. That's

Al:

a good old coach once told me when I was 12. Yeah, no, I do. I think it's really important because I think that's what builds the confidence, right? Having that preparation, knowing that you've gone through the, the mill in terms of practice and deliberate practice, ie, for example, you know, going out and seeing what you do to everyone. Even if it's like someone behind a tail in a shop, someone behind the bar in a pub, you're having a drink, that does not matter. Because the key is you're getting the words out of your mouth, in a situation that isn't in your own head. So therefore, that feeling like you said, it links to, okay, I'm a developer now, because I am telling people, I'm a developer. So I start believing that story more than I do the old one, which is, I have no experience. I haven't done a development yet. So I can't call myself one. You know, all these different things. You're pushing the pedal the other way, a little bit.

Sam:

Yeah, whatever you tell yourself is the truth. Absolutely. If you tell yourself, I'm a I'm not a developer, I haven't done any developments. This is all new to me. Versus I am going to do a development in the next year. I am going to raise finance. It's all about what you tell yourself. And that's what that's what you believe. Yeah.

Al:

We need some of that spooky, we will use it. I don't know. Can we edit that? Anyway?

Sam:

Yeah, it's all about the thoughts and the things you tell yourself that you'll believe so whatever, you've wherever you, you need to get intentional with it. Really? Yeah. So when you're intentional with your thoughts and what you tell yourself, then that's where you'll start to believe and feel. So yeah, it all starts with the thought. Yeah, no, I love it. So three things you can work on after finishing this episode. And that is put together your good conversational starter can use our time opportunity and experience one as a start point. Speak about what you do all the time in any situation, and learn to communicate what you do confidently.

Al:

Yeah, I think that's bang on me. So thanks for listening. And one thing we wanted to say is, if you're enjoying this, and this content is good, and it's useful and helpful for you, please subscribe to the channel and also share it with someone that might benefit from it. If you've got any other friends that are in the property circles, or are developers that might find this information useful. Please share it with them as well and get them on board. The more the merrier. So thanks a lot for listening. We really appreciate you guys.

Sam:

Thanks a lot. See you next week. If you want to attract investors without asking for money, check out raising finance club.com for our free resources. And you can also follow us on Instagram and Facebook at raising finance club