Flip Tip Summary
In the world of crowdfunding, capital is becoming easier to come by. However, prospective lenders are more and more interesting in the ‘story’ of the project, and more about who you are as a real estate investor. Jason Fritton of Patch of Land shares this FlipNerd.com Expert Tip with us…on how you can more easily get your deals funded.
Flip Tip Transcript:
Mike: Hey, it’s Mike Hambright from FlipNerd.com and we have a quick Expert Tip to share with you from Jason Fritton who is going to share a tip on how to make sure your crowdfunding project actually gets funded.
Jason: So with crowdfunding investment, it’s a little bit different than what you’re used to, being an offline and backroom handshake type deal. Investor’s online want to see visual imagery. They want to be able to wrap their head around what you’re actually doing. If you have a great idea that you believe in, there are a million other people out there that do as well. You just have to be able to show them what that idea it is.
So the more pictures and videos and architectural sketches that you may have to really get that feeling of a connection between what you’re trying to do and what your vision is, the more likely you are to get funded. The more likely they are to say, “Hey, I want to take a commitment in this particular project.”
So I always recommend that our entrepreneurs go out and they look at what they can bring to bear as far as visually on the individual project, make sure all your numbers are in a row, and you can communicate what you’re trying to do very, very clearly online in a short period of time. And also check out your online portfolio as well, your online visibility. Make sure you got your LinkedIn up to date. People want to see that you’re a real person.
Mike: And you don’t party too much.
Jason: Yeah, exactly.
Mike: Awesome Jason, great advice. Thanks so much for sharing.
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