Welcome back for Part 2 of this training on building a killer real estate credibility kit to help you raise money and build trust with people you want to do deals with.
As we continue to explore this uber-important tool in your real estate investing arsenal, its purpose and how to create one… let’s do a quick recap of Part 1. (And if you haven’t read Part 1 in full, make sure you check it out – lots of useful and actionable info in that blog post.)
Last time, we talked about the “why” and “how” aspects of building a credibility kit. In a nutshell, a good credibility kit will:
Credibility kits are highly unique because they reflect your individual characteristics as an investor. When getting into real estate investing, credibility kits are essential to kick start your success because they:
If you’ve been in the real estate investing industry for more than a few years, you should be able to throw together an impressive credibility kit in no time. Easy.
You have no past deals to showcase. No prior experience in real estate (or very little).
WHAT DO YOU DO THEN??
Don’t sweat it. I am about to show you how you can still put together a presentation that will showcase you as someone people should be lining up to do deals with!
Even if you have ZERO EXPERIENCE or TRACK RECORD, you can still position yourself as someone that understands the market, understands investing, has assembled a great team, and can be trusted!
REMEMBER THIS: In the absence of experience, you must demonstrate:
Turning Rookies into MVPs
Even if you haven’t done a single deal yet, you can still build a credibility kit that reflects you well and peaks the interest of potential private lenders, joint venture partners, and sellers.
Here are some CRUCIAL TIPS to do this effectively:
You must remember that it’s important to be ethical and to accurately represent yourself in your kit. Never imply that a target deal is one that you’ve already completed. Be candid and honest at all times, and describe target deals as ones you hope to close on.
The moment that a private lender or JV partner doubts your integrity, you can kiss your credibility goodbye.
Now, with all the stuff I just mentioned, you’ll already have a substantially sized credibility kit (even without business partner recommendations or testimonials included). But let me say that just like no two people are alike, no two credibility kits are alike. Make sure your credibility kit tells your real estate story.
And look, you certainly shouldn’t feel pressure to include all of the components I’ve talked about. You can include one idea or two or all of them… whatever you need to tell your story accurately and skillfully – add it. It’s that simple.
REMEMBER: A Tool Is Only as Good as its User
Give yourself a pat on the back once you’ve built a credibility kit… but there’s still more work to do. Your job doesn’t end here! You must follow up with potential lenders, joint venture partners, buyers and sellers who received your credibility kit.
Being shy is not an option when getting into real estate investing. Use this smart tactic:
Remember: It’s not a popularity contest (do those things really exist?).
Don’t get frustrated if it takes a few tries to find a private lender, JV partner or seller who’s a good fit for you. Like many things in life, real estate investing requires time and effort to find and nourish the right connections.
As you continue to grow your expertise in this industry, you’ll begin to immediately recognize the partnerships and opportunities that are the right fit for you.
As I wrap up, I hope this post – as well as Part 1 – inspired you to create a compelling credibility kit, which could definitely give you a leg up on the competition. If done thoughtfully, building a credibility kit can be a game-changer in your real estate investing career.
So, follow my tips on what to include and get those creative juices flowing.
Until next time,
Daniil
Rehab Valuator Software will help you structure and present your private money deals! Get Lite Version Here Free!
Rehab Valuator Premium allows you to put together deal funding presentations for private lenders, joint venture partners and banks like the one illustrated above. The power of using this in your credibility kits or to raise money in general absolutely can not be overstated. Take advantage of the discounted pricing here before it goes away!
Learn what “Private Money” is and what it is NOT in this blog post
6 Ways to Structure Your Private Money Deals – Free Course in Video and Written Format!
Talk to me in the comment box below.
This ls killer information thank you for this Daniel not many people even touch on this subject .What l would like to know ls there a template or script to help you write this kit.
Hi Merron,
I’ll check for you and see if we have anything like that. If so I’ll email it to you and see about posting it on the website as well for other users.
Thanks!
You have done awesome job in creating not just software but proving how this tool will change my life. Both part of blog are in full detail explaining credibility kit as most comprehensive presentation that restores my confidence. It reminded me my forgotten adventures of past 40 + years. This will most certainly boost my letter to warp speed.
Thanks, Daniil.
Your helpful advice has encouraged me, since I have found it almost impossible to find houses to flip without private funding. For several months I have looked and looked for a house that would satisfy my hard money lender’s qualifications, such as on-site inspections, appraisals, and contingencies. Without being able to bid on foreclosures, I was relegated to vastly distressed properties that required tremendous outlays to restore them. Now I can develop my Credibility Kit and have a good shot of partnering with a lender for bidding and going after quick deals. The RehabValuator software has given me tools to make smarter and quicker decisions in my rehab business. Have a blessed day. Doug.
Hi,
how are you? I just want to say that your insights on this very essential topic is so valuable to me and my real estate endeavors , that my gratitude to you is beyond words. I shall be putting your advice to work a.s.a.p.
Thanks a Million!
Omar Marsh c/o
Pure Speed Garage
I am going to rebuild my landing page… you have been a great help. I will be upgrading as soon as I make my first deal or get funded…
I like your tool I am in the process of learning the free version. Great Job
Sounds good, Jim!
I learned so much. Looking forward to building my credibility kit.
thanks
Daniil thank you for sharing your knowledge, experience and information so freely. You not only are inspirational, but also are filling in the “missing pieces” for your students to ultimately achieve their own success. Blessed is the man that doesn’t give us a fish, but teaches us how to catch our own.
Hi John,
Thanks for the feedback! It’s always great to hear from people that are taking what we offer and running with it. We wish you much success.
You Rock! Such great information consistently. Thank you.
Thanks Robin!
Good Blog. I understand the concepts of the credibility kit. Do you have any samples of completed kits? Also, what would be a better word or phrase for this?
Hi Greg – another way of looking at the ‘credibility kit’ is to think of it as a resume or portfolio of sorts that helps illustrate your experience and/or expertise in real estate concepts and investments. We have a fantastic training on this in our Art of Private Money training course.
Can I receive the discount? currently paying $49
Hi Angel- the only discount we could offer you is an annual subscription for $397. If you were to switch to the annual plan you would save 32% for the year compared to your current monthly subscription.
thank you so much I think credibility is a beginning, I want build list of potential sellers,how do I go about that. your responds will be most welcome and thank you once again.
Hi Mohammed! Thanks for your comment. I recommend taking advantage of your Inner Circle resources as a reference on building potential seller lists. There are very recent Inner Circle webinar recordings that you can re-watch related specifically to this topic. After logging into your account, simply click on the ‘Access Inner Circle’ tab located on the top middle of your screen. Then scroll down past Training Calls on the bottom left. As you are an Inner Circle member, don’t forget to connect with the Inner Circle Facebook Group, as you can get additional coaching in this area within the group as well. https://www.facebook.com/theinnercircle/
I truly thought this was a very valuable information especially for new inexperienced investors. It spikes confidence in those who self doubt. Here’s a old saying : there’s nothing between you, but opportunity and air! !!! Let’s build our credibility kit and and let the funding present itself. Thanks, once again Daniil!!!!!!!