How to Build Credibility and Make Your First Big Property Deal.

So, you want to make your first multi-million dollar commercial property deal but you don’t have a track record? As a consequence, you may not be taken seriously in the real estate market. What can you do? Well, if this is your case, then you came to the right place. Here, you will get tips that will help build your credibility quickly and appear like a veteran in the commercial real estate market. Without a track record, getting your first deal done can be challenging. Although you can make up a track record there are things you can do to make up for your inexperience.

Below are tips to help you build credibility and you make you appear more experienced.

Develop Your Knowledge and Learn the Lingo

For anyone to believe you’re a commercial real estate investor, you must sound like one. Educate yourself on the concepts of multifamily investment and the vocabulary professional’s use. Speak to brokers, investors and read relevant books on property deals. Ensure you familiarize yourself with the lingo for your credibility.

Remember To Bring Your Business Cards

This is a basic thing but most investors ignore it. If you want to be credible in the marketplace, always bring your business cards with you. Don’t neglect the essence of this simple paper. This is one way to build credibility as an investor.

Create A Website to Build Credibility.

A simple and cost-effective way to build credibility is by creating a website. A website will establish your online presence and people will perceive you as more credible. Commercial real estate investors who have a website are taken more seriously than those without. If you don’t have a website, you can easily create it yourself. You can still pay someone to do it for you if you can’t.

Flaunt Your Team to Build Credibility.

Continuous networking is vital for the success of a commercial real estate investor. Having a team of professionals around you will help you build your credibility. You will need a real estate lawyer, a CPA, a lender, a property manager and an SEC attorney. You can add information about each member of your team and their roles on your website. Surrounding yourself with a qualified team is an incredible way to make up for your lack of experience.

Prepare Your Credibility Kit.

A credibility kit is useful whenever you meet an investor, a seller, or any other professional because it provides you with instant credibility. A cover letter and resume are important for your credibility portfolio. The cover letter should give an introduction of who you are, what you do and what your goals are. Any seller who gets to read your cover letter should be able to understand why you’re the ideal buyer. On the other hand, a resume should be a one-page description of what you’ve accomplished. Even though you lack a track record of commercial deals, you should highlight your successes in residential deals or whatever else you’ve done. The final element to include in your credibility kit is a sample deal package. This is a sample deal you may have received from a broker. It’s only that you don’t have it under contract. It should have every aspect of a deal you’re hoping to close from the start to the end.

Conclusion on how to build credibility.

When you meet with sellers, investors and other professionals, use the sample deal package rather than the actual deal you have under contract. This will help you get financial commitments from potential investors even before you get a deal. Proving to someone that you know what you’re doing is one of the things that can help you build credibility.