No one in history has ever achieved his or her impossible dream without employing effective partnering.

Transcription

1 REMINDER: Dial in to the conference call number on your webinar screen. Private Money Partnering Virtual Boot Camp Session #1 Lance Edwards Tip: If on a land line, please turn OFF your cell phone or place it 10 feet away. Orientation House Rules: This is an interactive webinar. Toggle *6 on your phone to mute / unmute OR Type in your question on the panel. Direct Client Care questions to the office: or ClientCare@fcgllc.com Recordings of the audio, slides and notes of each session are provided for you. Desired Outcome for You Why is This Important? By the time we finish, you will: 1. Possess the skillset and mindset of partnering for money or ANY RESOURCE. 2. Feel the confidence to identify, recruit and present to partners. 3. Develop your personal action plan. No one in history has ever achieved his or her impossible dream without employing effective partnering. What types of Partners? Example: How I Got Started My Hawaii Story Partner with: Investors Credit Advisors / Counselors Mentors Property Managers Property Owners Talent gaps Time gaps Access to partners Access to clients Vendors Anything with no upfront cost Mailed 50 letters to people in Honolulu who owned property in Houston 30% Response 15 appointments 15 meetings 23 nothing down deals SECRET WEAPON: Hawaii Letter offered to partner with them to improve their property rather than sell their property at a discount.

2 Example: How I Raise Millions of $ in Buyer-Investor Capital Example: How I Generated $1 Million from Scratch & NO RISK. Partnering Formula: Predisposed Control Low Risk High Return Started my Training Business in No clients, no marketing, no product Sold my 1 st seminar thru a Partner who had clients Combined my know-how with his marketing Recorded & created a Home Study System Sold the Home Study thru other Partners Hired staff to systematize Example: How I Generate Apartment Deal Flow for FREE I Want You To See The World of Opportunity & Abundance Created Apartment Wealth Factory Train students nationwide on how to find apartment deals. Offer to partner with them on flipping deals that they find Combine my expertise & resources with their time & effort. This is the ultimate outcome of this program. Success = Skillset + Mindset + Community TM Recommendation for Note Taking Format for Training Go to the Easel Pad 4 week Intensive: Instruction Q&A Accountability Weekly Assignments & Review Active Participation This is an Accelerated Learning format to training based on participation and masterminding. You learn by doing.

3 Support Resources Course Outline Raising Private Money Home Study System Support Resource Vault (with video, audios, notes, slides & handouts) Notes: 1. The Transcript Table of Contents outlines the content for you. 2. This Boot Camp contains content not found in the Home Study System This course begins where the RPM Home Study ends. Adds advanced material not covered there. Emphasis here on: Raising Private Money PLUS Partnering for ANYTHING Effective Presentation & Communciation Session #1 Syllabus Section 1: Your Reason Why Orientation Instruction Section 1: Your Reason Why Section 2: Advanced Partnering Formula Strategy: Ultimate Partnering (Toll Booth) Q&A Field Assignment Each session is 9:00-11:00 PM Eastern but I may go over to take questions. I will provide homework at 11:00 PM Reference: RPM HSS Module 1 Laying the Foundation Financial Freedom Fundamentals The most critical element - Mindset. When challenges hit us (as they will), a Big Reason Why pulls us through. Good partners don t follow people who don t know where they re going. Active Income Passive Income Net Worth Definition: Financial freedom is when you earn more than enough passive income to pay for your desired lifestyle.

4 Create Your Number Defining Our Role How much monthly passive income would you need to declare financial freedom? $ / month Investor = Cash Capital Money Entrepreneur = Deals Deal-Maker Opportunity Definition: An entrepreneur is someone who pursues his or her vision using the time, talent and resources (i.e. money) of others. THAT IS, PARTNERING in various forms. What Most People Don t Teach Business = Marketing + Innovation 4 Component Business Success Model True for real estate or business. As the CEO, you have to manage all 4 components. Partner to access. Marketing for 2 3 Things 1. Deals 2. Dollars, Expertise, Talent 3. [Clients (Tenants)] You can partner to market for any or all of these. 2 Types of Entrepreneurial Models 3-Step Plan to Financial Freedom Business Plan: $100,000 / year High Volume 20 $5000 Big Ticket 2 $50, Determine the monthly costs of your desired lifestyle. 2. Choose the passive income vehicles & plan to get you there, i.e. apartments or business. 3. Create or acquire those passive income vehicles using other people s money. Cash (not yours) speeds up the whole process!

5 Example (Number = $100,000 / yr.) If we want passive income, what type of investor do we want? = 160 apartment units $50 / mo. = 160 $50 / mo. = 9 businesses yielding $1000 / mo. = 1 business yielding $9000 / mo. Which options do you think are faster? Active Income Passive Income Net Worth This is the basis for the One & Done Strategy (later). Benefits of Partnering Ineffective Partnering Fastest way to overcome lack of knowhow Remove limits of your limited resources Raise your chances of success Increase your levels of success Accelerate your success Broaden your expertise Reduce your risk of failure Reduce the degree of failure Reduce your workload Reduce your stress Do it wrong and it can be painful. Need to know: How to choose the right partner How to choose the right person How to select the right incentive How to design the right Exit Strategy(s) Let s Take Some Questions Section 2: Partnering Formula (aka RPM Formula) Questions? Aha Moment? Comments? 1. Predisposed 2. Control 3. Low Risk 4. High Return Press *6 or enter through your Control Panel Reference: RPM HSS Module 2

6 Step-By-Step Cook Book 7 Point Partnering Success Plan Predisposed Sources 1. Worthy project or idea. 2. Worthy sponsor (you). 3. Recruit & motivate the worthy partner. 4. Powerful vision of project or idea. 5. Effective & persuasive communication. 6. WIIFM 7. Mindset Predisposed Control Low Risk High Return Ask: Who is predisposed to see you be successful (and has the resources you need)? Predisposed Examples Partnering Formula Private investor for down payment. Rehab contractor for turnaround project. Fellow student for dealing with people. JV partner for my training business. 1. Predisposed 2. Control 3. Low Risk 4. High Return Return of Capital Before Return on Capital Control & Low Risk Examples Partnering Formula 1 st lien and key man life insurance for private investor Rehabber partner gets to Training JV partner collects the money and validates my credentials.. 1. Predisposed 2. Control 3. Low Risk 4. High Return

7 High Return examples Step-By-Step Cook Book 7 Point Partnering Success Plan Private investor receives above market return; retirement plan back on rack Rehabber keeps his crews busy; equity in a property he doesn t know how to buy Training JV partner further monetizes his list, or reactivates a dormant part of his list 1. Worthy project or idea. 2. You are worthy. 3. Recruit & motivate the worthy partner. 4. Powerful vision of project or idea. 5. Effective & persuasive communication. 6. WIIFM 7. Mindset Let s Take Some Questions Strategy: Ultimate Partnering Questions? Aha Moment? Comments? Press *6 or enter through your Control Panel Become the Master Strategist 1. Identify the Opportunity 2. Identify the Players 3. Bring them all together 4. Set the strategy in motion and earn % age on everything. 5. Others do all of the work. 6. Toll Booth Position Example: Ultimate Partnering Apartment Wealth Factory Let s Take Some Questions Multifamily Apprentices Deal Flow Private Money Apprentices Buyers Apprentices earn % age of flips My analysts earn % age of flips I put the system together Everyone derives values Questions? Aha Moment? Comments? Press *6 or enter through your Control Panel

8 Field Assignment End of this Session 1. Listen/read Modules 1 & 2 in Raising Private Money Home Study System. 2. Create your Financial Freedom: a) Number b) Vehicle(s) & Strategy 3. What is your weakness in getting started & how could you partner to strengthen it? 4. Optional: Download RealCoach QuickStart Audio at Create your daily mindset routine. See you Next Week Same Day & Time Please answer the brief survey as you exit the webinar. Thank you.