When you're new and do not have many deals under your belt, that's hard to convince brokers that you can close deals.
With a business like real estate, one's reputation is on the line as you get involved with not just thousands but even millions worth of deals.
How can you prove credibility when you barely have deals to show for?
Apart from teaching and investing in real estate, Nico Salgado is an entrepreneurs, coach, mentor, and leader. He is an avid surfer, woodworker, traveler, and extremely proud father.
He began investing in real estate in 2012 with a single-family development project and transitioned into the commercial multifamily space in 2019. He is also a host of a monthly meet-up, as well as a podcast.
In this episode, Nico shares proven and effective steps you can do to boost your credibility when just a newbie in the commercial multifamily space.
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What you will learn from this episode for 26 minutes:
01:04 - What works best when it comes to generating leads for Nico
01:40 - The challenge in dealing with brokers
02:34 - What newer investors can do when dealing with brokers as they are just newly starting out
04:33 - Showing credibility even with not many deals yet under your belt
07:17 - Mistake he committed that we can all important lessons from
08:30 - Creative ways of building relationships with brokers that prove effective without having to dine and wine with them
10:31 - What the e-book he writes was all about, and how he can use it for marketing
13:21 - More helpful tips for finding leads and how to go about them
15:25 - Challenges to handle when cold-calling
20:18 - Giving you an idea of the response rate when you go the text messaging route of finding leads
21:43 - Two ways to opt-in for email list and dealing with legalities
"I've tried a number of different things. But honestly, what's working best [when it comes to lead generation] is still the broker relations." - Nico Salgado
"Credibility has to come from your partners, and personally, I leveraged friends, colleagues, and mentors; and they are on my credibility page." - Nico Salgado
"Building relationships is key in this industry. And it could take years, and that's okay; we're here for a long haul." - Nico Salgado
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