Your Credibility Kit tells a story about who you are and what you can do for your seller or buyer in order to get a deal done. It will list the benefits to the sellers or buyers as to why they should work with you, a Real Estate Investor. The other main function of a Credibility Kit is to give you the confidence you need in order to create a win-win solution for you with your sellers. It should have all the tools you need in it to get you through the offer making process.
For example, in the back of my personal Credibility Kit, I have a list of different types of offers I can make on a property. This helps me when talking to the seller and keeps me from getting tongue-tied or forgetting a strategy that could just help out that particular seller. It also includes a cost analysis sheet which shows my sellers exactly how much it would cost them to sell their home in the traditional way and how much money I can save them at the closing table. My personal Credibility Kit gives my sellers all the facts they need to make a sound decision to sell their property to me.
I also have another “Cheat Sheet” in there that lists all the paperwork I need from a seller in order to make an offer. This way I don’t waste the seller’s time or mine. I also have similar information in my Credibility Kit for working with buyers.
I include information on how I can work with my buyers to give them time to clean up credit issues for example. I provide information for them regarding mortgage brokers they can work with to get their financing in place in order to get the deal closed. I also provide information on how the lease/option process works and why a potential buyer may need to lease/option a property in order to give them more time to secure financing.
This one tool will separate you from your competition like nothing else can and help to bring you more deals than you can handle. I use an abridged version of my Credibility Kit when working with out of state sellers. Think about it, without this information, they have no idea who they are working with. The copies of letters from my title agent, real estate attorney, insurance agent and private lenders are particularly helpful in these instances and on many occasions my sellers have called these folks to make sure I am “for real” before signing any contracts. So make sure your team members are aware that they may be getting calls from potential sellers so they are prepared to answer their questions.
Be sure and follow up next month in order to find out how to use your Credibility Kit to acquire private lenders for your real estate investing business. In the meantime, be sure to visit my website at www.marketingmagiclady.com where I have information and products available to help you to build your personal Credibility Kit.