Every real estate investor has an elevator speech, whether they realize it or not. It's the answer to the question, "So what is it that you do?" Have you ever given serious thought to how you communicate what you do? In this training, you're going to discover what has taken our team a tremendous amount of time and testing to determine. It may seem simple and almost trivial, but too often, investors say the wrong thing when first introducing themselves. And you never have a second chance at a first impression. Furthermore, as any successful real estate entrepreneur will tell you, networking can be a very powerful form of marketing and if you have a lousy elevator speech, you are wasting much your time networking. Here's the most effective elevator speech for real estate investors:
Here is a summary of what you learned in the video above:
Effective Elevator Speech for Real Estate Investors
An Elevator speech is a quick, simple answer you give when asked what you do for a living.
Keep 3 Things in Mind
1) One direction, one angle, one line of work
- Real estate investors do three things:
- Buy properties
- Sell properties
- Raising private money for people
You have to choose which direction to go in. In this business the most difficult thing is getting great deals. Since it is the toughest part, it is always best to tell people you buy/sell houses so they have a clear picture of what you do. This could bring about deals or opportunities in the future.
2) Easy to understand
“I buy houses, fix them up, and then sell them.” This is a very easy concept to understand. This makes it easy for someone to identify who you are. Over time if you are networking, when people understand what you do, it easier for them to remember you.
3) Modest Answer
If you are talking to the general public and someone asks what you do, “tell them what you while still keeping it simple”. You do not want to come across as a big shot or it will become difficult to negotiate a deal. Always consider the person you are networking with could be a potential seller or link you to someone they know.
Effective Elevator Speech
When someone asks, “What do you do for a living?”
You would respond with something like this, “I am in real estate, I have my license but I am mostly on the investment side. So what I do is buy houses, fix them up, and sell them. Sometimes I rent them out too, but I typically sell them.”
Phil, I really have to tell you that the motivation and easy to implement tools you provide are awesome. This elevator speech along with all the other video training you provide really hit the mark with my business.
Thank You!
Phil, love your videos.
Im just finishing up with college buh i like that elevator speech. its so precise and informative…. Thanks Phil
I want to know what kind of entity is your business in? My husband is a Gen Contractor, we build a house to sell here and there and I wonder how to sell but not pay taxes on the profit but leave a substantial amount of money in the business so we can turn around and find another piece of land and build again. We mostly use our savings to do that.
Watch this video: Best Legal Entity for Real Estate Investing
Thank you Phil.for the Elevator Speech Education
Usually the ones who are quiet in meetups and seminars are the ones who knows the most. The people who preach are the ones who had no successes. I engage conversations with people who are strikingly quiet but they have the look in their eye. The experienced look.
thanks for your youtube channel I am learning lots from you. not yet an investor but hoping to jump in to it when I retire from my present J.O.B.
Very informative…. As a direct private lender, I was able to utilize your speech and format it toward my position.
Thanks Phil,
Cheryl Caruso
Quick and concise introduction to my business- I like, I will use.
Wow, very helpful Phil, Thanks. I’ve struggled with how to communicate what I do to others in a social situation. Over time I began using something similar and simple like this. I’m glad I was headed in the right direction. But I think I will use yours now.
You’re the man.
F. Blackwell
Thanks for the elevator speech.l love keeping things simple,so anyone can understand what you do.I have your book and i listen to all your video presentations.they are all awesome,thank you very much for all your advise.I hope to meet you someday to thank you in person.
Phil good point it was great .I do have a question how can get a proof of funds letter. do you know a company who does that if you do please let me know ok
thank you
joe
My company provides them for my apprentices only. Perhaps there are other companies that do the same out there.
Hello I’m aware that you work with private lenders and hard money. I’m interested if you can me help me by my first property for my business and help with guidance in what to do when you start a real estate business. what is my next step.
Learn as much as you can from the free trainings I provide. That’s your next step.
Thank you Phil,
I really learnt a lot from you.
you are so wise. really admire you’re passion and
drive. I recommended your book to a few investors
they are so excited and can’t believe how much
much help the book help. my husband I are
still looking around for oppertunities in our back
yard. we are still not finding no home owner who
want to do business with you directly.
it’s mostly estate agent they do business with
but we are still looking.
phil my Grandmother wants to sell her house
she has a lean on it and the condo feed is very expenses
I want to help her. the house has depreciated and she owes more
than what the house worth.
where can I start? please I need your advise
Thanks Phil…..’m really hoping one day I can say that too!!!
Actually, I found that your videos were more informative than yr book… I went through all of them.
There’s very few motivated sellers in England and house prices are much higher…
I’m dying to start buying and refurbishing but I only have £66k … and currently no full-time job!
Perhaps I can get some advice from you guys over there…on how to do it with v. little money…
Best regards from over the pond!
Tania
Good stuff. Simple,effective and to the point. Thanks phil
Phil: I like your videos, and I just need to get started. Thanks, Dan
I really have found value in your videos. appreciate your one on elevator speech
. if you have commented on this question I have missed it. What I have a difficultly with is the question “so how many properties do you own”
I some time feel like they are asking how much are you worth.? trying to meet your third point ” modest”
I use to say not enough to retire on, which is not true now. we are retiring from our business and do rely on our properties
got any suggestions.
richard
My answer is, “enough”
Hi Phil, how’s it going? Hope all of you are doing well! Thanks for sharing your real estate experience with us & letting us talk with you. I’ve heard good things about you. Please follow up with me I’d appreciate it! Thanks & may YAHWEH GOD BLESS YOU ALL IN THE NAME OF YAHSHUA
Thanks. That was a great video. I now understand why not to brag about all the stuff I’ve done. I’m gonna use your wording from now on. Thanks again!
Hi,
I wanted to know how to buy out other family members on property that we all inherited?
And get funding to fix up ?
Ask them how much they want, arrange owner financing so that you don’t have to give them cash right away, become the owner, fix it up and sell it and at the sale the family members will get paid.
Great. I like it. I can make my elevator speech one directional.
Thanks for sharing….you keep making it look so simple.
im terrible at this because I get so excited and want to brag.
I have done two deals and have few more people that I know are who are in a bind and need to unload but im not selling those contacts but I would like personal investors . I have got to stop telling my friends. I need to learn modesty but I need personal investors so I can close these last few deals. Plus I am my own general contracter. can do elect. plumbing and dry wall
Got into an Lcc. with a friend, the relationship went soawred. In partnership he provided most of all the money in the relationship. He became abusive with power. I am dissolving out. Looking to do this on my own but not sure how to buy cheap properties with least renovation money to be able to make a good profit. What direction should I go and how do I find these properties. Perhaps you have the right book .. Thank you for your response. Bob
Awesome Phil! This is something I struggle with when talking to people.
Awesome Phil!
thanks ..great elevator speech tutorial. Love the demeanor and humility..
Thanks Phil,
Sounded like that was just for me. Ill pay closer attention to being modest as
well as stop pretending I am some big millionaire. I understand how that can hurt me. I see how simple this idea can be. Is there a place I can download temple of buying and selling contract? This is my first deal on a house. I grew up understanding wholesale process, so once I seen an opportunity I couldn’t help but try it. I am going to try tomorrow.Wish I was already enrolled. in your mentorship program , because there is so much I don’t know.