People love to hear inspirational stories and they love to hear about other people’s success. Most important of all, they love drama
Why do you think reality shows are so popular?
Earlier I posted about the power of networking to raise capital. I mentioned how this was a people business and it is vital to get out there and meet people that can become resources for you. Social media is just as powerful if not more.
The best way to raise capital through social media is to share results, wins and losses. Anything real estate related information you have can be used as resource for others to either learn or be aware of what you are doing.
But have fun with it. Be excited about it.
Beware of getting into trouble with the law though. There is a fine line when raising capital through any public forum, social media included. A new law, known as the JOBS Act, allows for some general solicitation to accredited investors. However, there’s a stringent qualification process required.
To stay out of trouble I advise when raising capital you have to have an established relationship with the person you are soliciting, regardless of whether the investor is accredited or not. Naturally when you post things on social media it gets out to the masses and you don’t have a relationship with them. That’s where you can get into trouble.
So how are you able to leverage social media to raise capital then?
You have to create a substantive relationship with your audience. You can’t reach them to solicit, however, if they reach you wanting more information than you can share what you are doing.
How do you get people to reach you? You become the expert in your field and share everything about your field. Educate using social media.
The best way I use social media is to share my day as a fix and flip investor. For example, it can be exciting news about an upcoming project or the not so exciting stuff. It can be the blunders of the contractors or how you got around certain obstacles.
The key is to constantly be posting things about your business so people out there know what you are doing. Share your track record as it starts to add up. Make it simple and exciting for others to see.
Pictures and videos can do wonders for you. The key is to be consistent with it and be genuine about it. No need to exaggerate and stretch the truth about things. People connect with real people. So don’t be embarrassed to talk about the failures too.
I can guarantee that by being consistent with this people will start to reach out to you and ask what you are up to. That’s exactly what you want.
Now go spread the word on your new ventures!