Whether a real estate agent or investor, your priority should be creating and providing solutions for potential buyers and sellers of your properties and opportunities. One solution method I help my valued clients, students, and connections with is what I call the “Dual Proposal”. Typically, there is nothing to prevent doing so, except for not being aware of how to make it happen for you or your client.
One example was a client looking to expand their business, starting with seeking to purchase a property to host it. They hired me to perform research and create their presentation for a lender I work with. Their initial goal was to be able to acquire a property and have funds for related business materials. At the time, the lender to receive the proposal specialized in real estate loans. My client never thought to adjust the Proposal to gear it toward a business loan, which would cover the needed expenses and happen to include the real estate along with it.
Their goal was to get approved and funded, and to them it did not matter which type was the first and/or best one to come to fruition. It was the exact same opportunity, while presenting it to different sources in a different way increased the opportunity for it to happen.
The same can be done for a house which could be flipped or could be a rental. It could be presented separately while describing the opportunity to other lenders and investors. In this instance, the applicant can choose whichever source can deliver first or offers the best possible deal. The client’s chances for success more than double because of their willingness to begin separate pursuits while seeking a single outcome.
However, having the idea alone does not make it happen. The proposal for a business loan contains different elements and criteria than the criteria for a real estate loan even though there are different paths seeking a similar result.
Either way, you, as the driving force behind gaining the listing, acquisition, bid, or project, need to do all you can to best articulate that path. Your proposal may not be the best, but if you can present it more effectively, your chances for success increase dramatically. All of your time, effort, and the cost of preparation are at risk if you are not able to best present your opportunity. Explaining it to another individual IS presenting it. If others you are counting are not fully on board, your project may not come to fruition, and not necessarily because of the numbers.
There is personalized coaching from an industry expert available to help with every aspect from research and writing through how you handle your speaking voice and answering questions. We can make you “first in” toward your next deal!
