I hear from investors all the time who share with me this one problem that holds them back: “Kent, I have ZERO real estate investing experience… why would a cash buyer, private lender, or motivated seller ever work with me?”
It’s a “catch-22” situation: Investors feel like they lack the credibility that comes with experience… but how do you get the experience without credibility?
Here’s the great news: I’ve put together 6 of my favorite instant credibility builders to give you maximum credibility fast, no matter who you’re working with.
1. Partner With Someone Else
If you know another investor who has experience, a fast way for you to benefit from their experience is to partner with them. This isn’t a life-long commitment. Rather, connect with them on one deal. Share the wealth of the deal and, in exchange, you’ll gain a massive credibility and educational return on your investment!
2. Share Your Passion
Many cash buyers and motivated sellers will overlook your lack of experience when they see how much passion you have. Even on my own team: when I add team members I care more about passion than about experience. (Yes, experience is important and helpful but it can be taught; passion can’t be taught). So make sure the person across the table from you sees your passion.
3. Develop A USP
One very effective way to gain credibility is to develop a unique selling proposition (USP). This is your unique position in the marketplace. Trust me, many investors who have the experience still lack credibility because they’re simply operating as clones of a million other investors. The investors who gain the most credibility are those who are focused. Perhaps you work ONLY with sellers going through foreclosure; maybe you work ONLY with cash buyers from Idaho who want cash flow investments; or you might only focus on multi-family with 10 or more units. Whatever you choose, you’ll get some credibility by focusing on helping a specific group of people only.
4. Get Educated
Here’s the biggest secret that no one tells you: The credibility you earn from others comes because of your confidence more than your experience. If you’re confident, you’ll gain credibility. And the easiest way to gain confidence is to get educated. Don’t ever stop learning about real estate investing.
5. Practice, Practice, Practice
Credibility comes with experience, but not all experience has to be “real world”. Even our nation’s brave firefighters have plenty of credibility regardless of the fact that the newest ones only ever had practice experience of putting out fires in controlled settings. The same applies to investors: You can practice various aspects of each deal: role-play negotiations and your presentation. That experience will give you confidence, which will give you credibility.
6. Serve First
Want to fast track the credibility you earn? Make sure your focus is ALWAYS to serve and help the person you’re talking to (whether buyer, seller, investor… whomever). I promise you that very few people will ever care about your experience when you make sure that your focus is entirely on you helping them solve whatever problem they have.
Worried that your lack of credibility is holding you back from doing more real estate deals? Throw those worries out the window because I’ve just shared with 6 instant ways to help you develop more credibility fast!