As syndicators, raising capital is the lifeline of our businesses, so things will be very challenging for us if we aren’t good at sales. Keeley Hubbard is a multifamily syndicator and investor as well as a sales coach who truly understands how to make buyers feel comfortable, and she joins us on the show to share some of her secrets. We hear about Keeley’s background in sales and how the negative stigma salespeople seemed to have never sat well with her. Realizing there had to be a better way, Keeley set out to learn how to pitch authentically, and it was not long before she started teaching others to do the same.
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In our conversation with Keeley, she shows us how not to sound like every other salesperson, and how to get past the walls that go up in a buyer’s mind the moment they feel they are being pitched to. She also explains how to gauge an investor’s interest level and how to follow up after you begin working with one to show them you truly care. Along with all this, listeners will hear Keeley speak about the value of having patience as a syndicator, how to win over a potential investor before you tell them you’re a syndicator, and the growth that comes with doing what makes you uncomfortable. For a truly insightful discussion that will benefit anybody looking to polish their sales pitch, be sure to tune in.
Key Points From This Episode:
- Keeley’s background in sales and coaching and her road into real estate investing.
- How Keeley puts her sales knowledge to use while coaching capital raising for syndications.
- The difficulty of not sounding pushy while trying to sell something and how Keeley helps.
- How to not sound like every salesperson by listening to your client’s problem first.
- Getting past ‘the buyer system’ (buyers anxious of salespeople) by taking the pressure off.
- The idea that you can be successful in raising capital when you are not perfectly scripted.
- Doing the groundwork before talking to a new investor and what that involves.
- The steps after talking to an investor for the first time: figuring out the gap between where they are and want to be.
- Tailoring your sales to an investor by figuring out how urgently they want to invest.
- The follow-up strategy once an investor is interested; calling them personally to show you care.
- Why the hardest part of Keeley’s syndication journey is having patience.
- How to get a person to like you when you meet them for the first time.
- Why not to introduce yourself as a multifamily syndicator to a prospective investor.
- Keeping her GP team ready to act on a deal – a recent improvement to Keeley’s business.
- Why Keeley’s best source for meeting new investors is her coaching business.
- The number one contributor to Keeley’s success – the willingness to be uncomfortable.
- How Keeley likes to give back by working with Operation Underground Railroad.
- The easiest way to get in touch with Keeley and learn more about her.
[bctt tweet=”You may be talking to somebody who it just doesn’t make sense for. It’s not the ideal investment for them, so you can’t assume that you should ‘product vomit’ over every single person that you talk to. — Keeley Hubbard” username=”whitney_sewell”]
Links Mentioned in Today’s Episode:
Operation Underground Railroad
About Keeley Hubbard
Keeley Hubbard is both a multifamily syndicator and investor, as well as a sales coach for business owners and professionals who are looking to break through to the top of their field. Throughout her career, her primary focus has always been helping others achieve their financial life goals. Keeley’s desire to help people started at a young age and continued through the years as she graduated from TCU and pursued a career in financial education. She spent 7 years in this industry as an Executive and her passion for people and skilled communication drove unprecedented growth. As a Managing Partner of Hubbard Capital Group, a multifamily investment firm founded by Keeley and her father, she is dually responsible for acquisitions and investor relations. Integrity, transparency, and delivering results to investors is at the core of every decision she makes. When Keeley isn’t sales coaching, touring properties, or underwriting deals, you can find her hanging out with her big, crazy-fun family.
Full Transcript
[INTRODUCTION]
[00:00:00] ANNOUNCER: Welcome to The Real Estate Syndication Show. Whether you are a seasoned investor or building a new real estate business, this is the show for you. Whitney Sewell talks to top experts in the business. Our goal is to help you master real estate syndication.
And now your host, Whitney Sewell.
[INTERVIEW]
[00:00:24] WS: This is your daily real estate syndication show. I’m your host, Whitney Sewell. Today, our guest is Keeley Hubbard. Thanks for being on the show, Keeley.
[00:00:32] KH: Thank you for having me. I’m excited to be here.
[00:00:34] WS: Keeley is both a multifamily syndicator and investor, as well as a sales coach for business owners and professionals who are looking to break through to the top of their field. Throughout her career, her primary focus has always been helping others, especially her investors, achieve their financial life goals. Keeley, thank you again for your time. I’m looking forward to this conversation. You have some skills that every listener of the show needs, and so looking forward to this. I mean, you had written some stuff in the – Where you apply to be on the show, and I’m just looking forward to this conversation and diving in. But give us a little more about your real estate background and maybe your coaching background a little bit also, so we can understand where you come from.
[00:01:15] KH: Definitely. I started in sales about 17 years ago. When I came into it, I remember just feeling uncomfortable about the sales process and strategies and techniques and the things that were being taught to me, and it’s traditional sales makes people uncomfortable. That’s why we all run away from sales people. So I realized there’s got to be a better way, and so I set out on this journey to figure out how can I be really effective, make great money but feel authentic to who I am and actually serve my clients and serve the people that I’m working with. I was able to do that and achieve extraordinary results in my income and my career. That’s my passion now, is coaching and working with people and helping them do the exact same thing and hopefully shorten the learning curve for them.
My father and I got into multifamily actually about three years ago but really got active about a year and a half ago and did our first deal in Lubbock, Texas, 173 units. We’re really proud of that.
[00:02:07] WS: Congratulations.
[00:02:08] KH: Thank you so much. We’ve got a lot of offers going out right now and hoping to continue to expand that. But I saw a lot of crossover between my sales coaching business. I’ve had a lot of people that come to me and say, “Can you help me with raising capital,” because raising capital is the lifeline of your business as a syndicator. If you’re not good at sales, it’s going to be very challenging. I think a lot of people avoid raising capital or have a lot of angst about it because they don’t like sales in general. So that’s what I’m really working through is how to have authentic conversations where you know you’re actually helping your investors and you’re proud of your sales process because you’re not coming across like a typical pushy salesperson.
[00:02:45] WS: There’s already this like negative stigma or whatever around sales or trying to be a salesman. And so, yeah, I’m looking forward to this conversation. Why don’t you – Let’s just dive right in there because I know our goal is not to be pushy and sales-ey and things like that and to come across very genuine, which we want to do. We do care about that investor obviously. They are putting in a massive amount of trust in us, and we do not take that lightly. But those conversations are difficult. I remember in the very beginning, especially. I mean, you don’t if you’re going to know what to say, right? It’s difficult. You do want to sell but you don’t want to sell. So can you just talk us through that a little bit, how you help clients with those conversations?
[00:03:27] KH: Yeah, definitely. This applies to every business. Everybody that’s in sales, especially raising capital, the thing is that we love our investments as syndicators. We know without a doubt in our mined there’s no other investment they could put their money in that’s going to give them the returns and the safety and the tax benefits like real estate will, and the problem is we often overshare that information and we share it too soon. We’ve all been programmed to believe that if we really know our product or service, which is obviously these investments and we’re really friendly and we talk to enough people, then we’re going to grow a great business, and that’s not always true. So the problem is we love multifamily and we start talking about it, and I call it product vomit. You just start spilling everything you got to a prospective investor because you’re really excited.
The issue is that, yes, you’re being authentic and you’re loving what you’re doing but you’re acting like a typical salesperson because typical salespeople do that, right? They talk about their product. They’re really excited about it. I call it sales malpractice. Don’t commit sales malpractice where you prescribe a solution before you ever diagnose somebody’s problem and truly understand what they’re looking for because everybody that you talk to may not be a good fit for multifamily, right? You may be talking to somebody that it just doesn’t make sense. It’s not the ideal investment for them, so you can’t assume that you should product vomit over every single person that you talk to. It’s really understanding that you can love what you do but you got to hold that information in and put all of the focus on your investor and really understand like what are their frustrations with their existing investments. What do they like? What do they not like? What are they hoping to accomplish? What are their ultimate goals financially before you can figure out if you should even begin to talk about what you do and what multifamily is? I think that’s one of the biggest mistakes that a lot of people make early on.
[00:05:15] WS: Nice. I love how you laid that out there, and don’t commit sales malpractice and product vomit. It’s a great analogy and you do. You want to share. You think, “Oh, they need to know this thing. They need to know this. They need to know this. They need to know this.” You’re just like blah, blah, blah, blah, blah, blah, blah. I can relate on the other side of that. It’s like, “Oh, wait a minute. I’m not interested in this thing at all. I wish you hadn’t just wasted all this time with me,” right? Can you give us some examples or a call that you’ve had or how that conversation goes a little bit? I know you’re working with other syndicators, other people that are trying to raise capital, maybe some common issues that they have as well or fear.
[00:05:51] KH: One of my best tips that I’ve used for years, myself in sales and I teach it in sales, what I mentioned before about the reason that the whole product vomit strategy doesn’t always work is because it triggers what’s called the buyer system. As consumers, as buyers, as investors, we all have a process or a way that we make decisions, and the issue is that when we’re trying to avoid salespeople when we see typical sales behavior that – it’s like you go into a store, like say you’re going to Nordstrom. You want to buy some clothes. A sales rep walks up and says, “Hey, can I help you find something?” We all lie and we say, “No, thanks. I’m just looking,” because it’s like avoid the sales person at all costs. That’s the buyer system. It’s designed to put their walls up. We’re designed to avoid the pressure. People love to buy things but they hate being sold, and so their walls are already up. No matter how authentic you are and no matter how excited you are about your product, your service, your investment, their walls are up.
Our goal is how do we get their walls down where we can actually have what I call a disarmingly honest conversation about what their challenges are and what they’re hoping to accomplish. So the best way that you can do that and my best piece of advice that I was mentioning before I’ve used for years and I teach it all the time is to release all the sales pressure and tension at the very beginning of the conversation. You would say something as simple as like – Let’s say my investor’s name is John. I would say, “John, I appreciate the time and us sitting down today and looking forward to our conversation. But upfront, I want to let you know that what I do is not a great fit for everybody.” We may get 15, 20 minutes into our conversation. You may decide, “You know what? This just doesn’t – It’s not the right fit for my goals, my investments.” Maybe you don’t like me. You don’t like my hair. I always try to get them to laugh. If you can get them to laugh, it automatically releases some tension. Or like maybe you don’t like me or like my hair. You don’t want to invest in real estate, and that is completely fine. My question is, are you going to be okay telling me that? Are you okay telling me, “Nope, it’s not a good fit?” I get into really say no upfront in the conversation, and they’ve always said, “Yeah. Of course, I’ll tell you no. I’m a pretty upfront guy or an upfront woman,” and I say, “Okay, great.”
The flip side of that is if we talk about your goals and I decide that maybe I can’t help you. Maybe just what I do isn’t the right fit. Are you going to be okay if I tell you that? You’re like, “Well, yeah. I would hope you would.” I say, “Okay, great.” The other outcome could be that they both decide together that this makes sense, if it does, we can figure out what those next steps would look like. Are you comfortable with that? They’re like, “Yeah, that sounds perfect.” All of a sudden, the walls go down because their biggest fear is she or he is going to pressure me into investing. They’re just waiting for it right? They’re waiting for the close. They’re waiting for the pressure. They’re waiting for the move, right? What’s the next move they’re going to do to get me to invest? I’ve only got two spots left for this investment. People always try to pressure me, like all this pressure. There are certain personality types. It doesn’t matter how much you pressure. It’s the best investment in the world, and you’ve got one spot left, and it’s just for them. They feel like because it’s typical salesperson behavior and it triggers that buyer system, right? Remember we’re in Nordstrom and we tell a [inaudible 00:08:58]. That’s what we call it in Texas, a lie, a little fib. No, thanks. I’m just looking. It’s because we’re trying to avoid the sales person. What I teach is literally if you just did the exact opposite of all the stuff that you hate about sales, you can be successful raising capital, in a nutshell. That’s probably the most simple way to say it.
[00:09:17] WS: Yeah. Well, no. I love that. I appreciate you walking through the conversation like that a little bit too because I think it’s just great to hear an example. You put it out there like that and knocking that wall down right away but making them laugh a little bit too. That’s always a plus, right?
[00:09:32] KH: I had a prospect. One time they were like, “No, I love your hair.” I was like, “Oh, okay. Good. Well, any other reason you decide you don’t want to do this?” It just – Here’s the other thing, a tip that I’ll give. We always think that we have to be perfect, right? When we sit down with an investor, I got to have the perfect presentation and I can’t screw up. People don’t like that. They want human. They want you to just be real, just be who you are because the typical salesperson does come across as perfectly scripted and in the perfect suit with the briefcase and dressed to the nines and polished. People want human. I’ll tell you a sunny story. When I started out in sales years ago, I was on the phone with a perspective client and this is early on before I really developed my sales skills and I didn’t know what do to next, right? He asked me a question. I didn’t know how to answer it. I didn’t know what to do. I freaked out. I hung up the phone. I just hung up on him. The craziest thing is when I hung up, it was like, “Okay, reset. Okay, now I know why he’s asking the question. I know how to answer it.” So I called him back and I was like, “Hey, I think we – I lost the call. I dropped the call. Sorry about that,” and we just continued the conversation. The funny thing is like if I can do that, if I can screw up that bad and hang up the phone on a perspective client, call him back, have a great conversation, and still close the deal, you can be successful raising capital when you’re not perfectly scripted. I would encourage you to just be yourself. If you don’t know the answer to something, that’s okay. I’ve had conversations. When investors ask me a tough question, I’m like, “You know, what? That is a great question. I may get you an answer but I don’t know, so I‘m going to find out.” It’s okay to say that. They want to see that you’re a real person and you’re somebody that they could do business with. You’re somebody they could trust and you do that by just being yourself.
[00:11:09] WS: Nice. What kind of pre-work are you doing on an investor? Or what do you know about them before the call of before the conversation? What’s important? I know you can always know something but do you do any kind of homework like that on somebody?
[00:11:23] KH: Yeah, absolutely. I call them pain points, so you need to find out what their potential pain points are before you go into ideally your first face-to-face meeting. Obviously, with COVID now, all the craziness going on right now, it might be a Zoom call. But if you met them somewhere through a friend or you met them, I don’t know, on LinkedIn, it’s ideal to have an initial conversation that’s just maybe a couple minutes at first to really understand what they’re hoping to accomplish and what they’re looking for. The easiest way to figure out what those pain points are is to give them a couple examples of investors that you work with. If my investor’s name, again, is John, I always use John. It’s an easy name. I have to say, “John, the types of investors that I work with, one of their biggest challenges or frustrations is they’re not getting the returns that they want in their other investments.” A lot of them are in the stock market. They’ve been tired of riding this market roller coaster. A lot of them lost a lot of money in 2008 and they just say, “Keeley, I want something that gives me more stability, I want more cash flow, and I’m sick and tired of paying 40% in taxes,” like if I’m talking to a doctor, for example. I would say, “I don’t suppose any of things have been challenges for you.” I know if they are challenges, they’re going to say, “Well, yeah. I’m tired of paying taxes too,” or, “Yeah, I’ve been riding this stock market roller coaster.” I’m like, “Oh, tell me more about that,” and I get a little bit more insight to understand what their true investment needs. So that way, when we have a second conversation that’s maybe a little bit longer and we dive deeper into it, I already have an idea of what they’re dealing with. I would say, “You know what? I’ve dealt with all this before. These are the types of investors that I work with. I don’t know if I can help you or not, but do you think it’s worth having another conversation, where we can talk a little bit further? I can better understand your world and your goals and have that conversation and see if it’s something that makes sense?”
Then I set up another phone call where I really have got more time to ask more questions about their challenges, how much money has it coast them. That’s when we dive deeper into what I call a pain funnel because what you’re looking for is what’s the compelling emotional reason that they want to do this. They’re not going to invest in multifamily because of the returns. That’s probably like, “Oh, my God. I can’t believe she just said that.” They’re not going to invest in multifamily because of the returns. That’s not what it is. They’re going to invest in multifamily because if they keep investing in the stock market and they lose half of their life’s savings like they have before, they can afford to retire, their wife has to go back to work, they can’t buy the dream home in the Florida Keys. It’s the emotional compelling reasons that are driving that decision, and that’s what you’ve got to figure out. You don’t want to do that on the first phone call, right? You just want to get the surface level stuff. What are the issues? Am I talking to somebody that has the problems that I can fix and ask him, “John, do you think it makes sense for us to have a deeper conversation? I’m not sure exactly if I can help or not. A lot of the investors that I work with are saying the exact same things you’re saying.”
[00:14:05] WS: Nice. Very helpful. No doubt about it. What else in the conversation is important as far as how are you asking questions, what types of questions? Just to kind of build that trust up and get to know them, care about them or – I know during that time you are finding out those pain points. You’re learning more about them at the same time. But any specific questions or way that you handle those, so you’re gaining information that you need?
[00:14:31] KH: I’ll first say that ‘pain funnel’ sounds like it’s something – It sounds like it’s torture, right, just the phrase? But it’s not. You’re not causing your investor pain. You’re trying to help them discover their own issues because a lot of them, they have no idea what the core or the true or the real issue is with their investments, and you don’t either. So it’s way to walk through that process together where it’s not you sitting across a desk from them. It’s you sitting beside them saying, “Hey, let’s figure this thing out together.” I always want to know like what do they love. What do they love about their existing investments? Because as syndicators, we always want to – Very quickly, they say the stock market, and you’re like, “Oh, let me tell you why that sucks. Let me tell you why you shouldn’t be investing there and how amazing multifamily is.” When you do that, you trigger the buyer system. Walls go up because you’re acting like a typical salesperson. Instead, I want to know what do you love about your current investment portfolio. What do you like about it? Because even if it’s stocks, maybe they like the returns, they like the consistency, they like the dividends they’re getting. I want to know these things, so I can see, number one, do they have a reason to change or a need to invest in multifamily. Number two, is it going to be the right fit. That’s always what you’re looking for is it the right fit.
I ask questions about what do they love about their current investments. If they could change one thing, what would it be? That’s an easier way to dive into it and not like, “What do you hate about the stock market,” because they may not. They may love stocks. They may be like a serial stock investor and they love it, so you don’t want to step on those landmines by saying that. If you could change one thing about your investments, what would it be? They’re like, “Well, you know, I would love to get a higher return if possible.” “Okay. Well, in your world, what’s a higher return?” I’m trying to figure out the gap between where they are now and where they want to be, and I haven’t even talked about syndication, how it works, and how amazing multifamily is. I’m walking them through this process to figure out what are your current issues, what’s working, what’s not working. Most importantly, the thing that trips up most people in sales and raising capital is they haven’t discovered if there’s urgency. Is there urgency to change and make a decision now? Because if all you’re selling on, like people’s motivation, investor psychology, buyer psychology, the reason that we make a decision to buy anything right now is because of pain we’re experiencing right now in the present, fear of pain in the future, or there’s the greed factor. The number one motivating reason is pain I’m experiencing right now. If I’m going to go buy a car, I don’t feel bad about it. If I totaled my car and I don’t have one, it’s my only way of transportation. I got to go buy a car. There’s urgency there. But if I already have a nice car and I just want to go upgrade and get the next model and a bigger engine, and I go to the dealership, there is not a lot of urgency for me to make the decision right now. So when the sales guy is pressuring me on, “Oh, the deal goes away today, it’s like, “Yeah, whatever. There will be another deal later on.”
Think about that in the investment world. If we are pressuring them saying, “I’ve got only got two spots left in this investment, and here’s how amazing it is,” but you haven’t figured out is there a compelling reason, is there a pain they’re experiencing right now, or is there a fear of pain in the future, a fear that they’re going to lose money, a fear that they’re not going to make it to retirement. If you don’t figure that out and you’re just trying to sell them and push them based on urgency of your deal, there is no urgency for them to move forward, and you wonder why, and they’re not going to tell you that. They’re going to say things like, “You know what? Yeah, this just looks awesome, right?” They’re really good at selling you on how amazing you are, right, like, “Keeley, this is really great. I’ve really enjoyed this presentation. Wow, I learned so much. You know what? Let me think about this. Let me talk it over with my wife and I’ll get back to you.” Do they ever get back to you? You call and you hassle them and you leave voicemails, and they’re just like, “Ah,” because they felt like you’re just being a typical salesperson, so you’ve got to figure out – is there urgency, is there a compelling reason, is there fear of pain in the future, is there pain right now that would make them move forward? The easiest way to ask that question is after you figured out what’s not working. I’ll say things like, “You know, John. I got to ask you a really tough question. I’m not exactly sure how to word this.” You’ve got to preface your – You can’t just hit him with a tough question, right? You got to preface it. You got to soften it. Say, “John, I got to ask you a really tough question. Are you okay with that?” “Yeah, yeah. What is it?” say, “From a priority standpoint, how important is this to fix? On a scale of 1 to 10, 1 being I’ll probably be dealing with this a year from now, 10 being I’ve got to do something right away,” where are you at? Before you answer, just understand that I’m okay with whatever it is, but where are you at on a priority standpoint?” Now, I can figure out, right? Do they care? Do they want to fix it? Before I spend all this time, again, I haven’t even gotten into multifamily and how amazing it is and all the returns, all the – I haven’t even gotten into that. I’m just trying to figure out is this person a qualified potential investor that I can help? That’s what I’m looking for? Does that make sense?
[00:19:16] WS: It does. I makes a lot of sense. Would you just talk about your follow-up process a little bit as well? So you’ve had the first conversation like you’ve talked about. What happens next?
[00:19:26] KH: I’ve got to figure out, if I’ve got an investor that has urgency, then I’m letting him know here’s our typical process of how we acquire deals. We’re always looking in various markets and understand the markets we’re looking in. I make sure they know exactly how the deal process works, so you’re going to get a phone call from me as soon as we get an accepted LOI. That doesn’t mean that we’re officially under contract, but I want to make sure that you know because I know how important it is for you to get into the next investment, so I’m going to let you know when we have an accepted LOI and I’m going to give you a call. I’m going to say, “Hey, John. We’ve got a property in X, Y, Z market and this many units.” At that point, you’ll look through the investor debt. You’ll probably have some questions for me. I make sure I answer those for you, and you want to make sure that you get into it as soon as you can. Sometimes, these deals reach full capacity within 45 days. Sometimes, it takes a little bit longer, but I just want to make sure that you get in the deal.
That’s the typical process that would happen. Do you have questions for me around that? Because I want them to know here’s what you can expect from me going forward. If we don’t have a deal, like if – I try to make it a point to talk to your investors at least once on the phone or Zoom every 30 says. You have to. You’ve got to get on the phone and it’s not enough to send a newsletter or an email. Nobody wants a newsletter with a market update. I know this is going to sound crazy and people probably won’t like me for saying this but they don’t. You know how many newsletters they get from investors? I mean, from syndicators. They’re updating them on things. How many phone calls do they get where you’re calling them and saying, “Hey, I just want to give you an update. We placed an offer on two great properties. We didn’t get them but we’ve got two more in the pipeline. I’m actively working on finding a deal. How are you doing?” Out of curiosity, you mention something. Their kids got a soccer tournament. How’s the soccer tournament going? Keep notes on your investors because they need to know that you care about them, and you can’t fake that. If you don’t care about them, you shouldn’t be in the business, right? But we want to have those conversations and those follow-ups every 30 days and let them know exactly what we’re working on because you don’t want to have that initial conversation with them that was really. Then all of a sudden, you haven’t talked to them. Six months later, it’s like, “Hey, got a deal for you. You’re just training them to think that every time you told them, you’re trying to sell them something, right?
[00:21:26] WS: Yeah. Now, that would definitely help you to stand out. No doubt about it. I don’t know anybody that calls their investors once a month. No doubt. That would help you to stand out, and they’re going to remember who you are, definitely more than getting a newsletter.
[00:21:38] KH: It can be a five-minute conversation but you’re just checking in. Hey, what’s going on? I want to let you know what we’re working on. Is there anything I can do for you in the mean time? You’re building relationships with people. This is a relationship business, and I think sometimes people avoid getting all the phone because of this whole notion of, “Oh, I don’t like sales.” It’s like sales is going to have to be like that. It doesn’t have to be the cheesy, pushy, slimy, aggressive sales. That’s not – You can be authentic to who you are and really serve your investors and serve your clients and feel good about it.
[00:22:08] WS: That’s awesome. What CRM do you use or recommend?
[00:22:11] KH: I like ActiveCampaign. I love Salesforce but that’s way too big of an engine for what most investors are doing. I like ActiveCampaign.
[00:22:20] WS: What’s been the hardest part of the syndication process or journey for you, Keeley?
[00:22:24] KH: Patience. I am a go-getter. I want it now type of person and learning that the right deals are going to come along and to never ever, ever compromise your underwriting just because you want to get a deal done or just because your investors are waiting on to get a deal done. I would much rather get super conservative and get the right deal and make sure my investors are taken care of long-term. It’s being patient and knowing that you’re going to have the disappointments. You’re going to get emotionally attached to a property that you know is amazing. You give your investors incredible returns, you’re excited about it, and you don’t get it. So you’ve got to understand that there’s going to be that emotional roller coaster and not get too attached to things and be patient and know that the right deals are going to come along, and this is not a sprint. This is a slow and steady wins the race. Build a portfolio overtime. Build investors who are rating fans, love you, and refer all their friends to you. That’s a business that will last.
[00:23:22] WS: Tell me about the conversations when you’re selling yourself but you’re not selling. Maybe it’s not even about real estate. You’ve just met this individual, but everybody’s a potential investor, right? So they haven’t come to you about real estate whatsoever. What does that conversation look like to you?
[00:23:41] KH: Yeah. When you’re first meeting somebody for the first time, all my attention is on them. I want to know everything that I can about them. Did you ever met somebody at like a party or a gathering, and you finish the conversation. You think about them later on and you’re like, “Man, I really like that guy,” or, “I really like that woman.” But you don’t know a thing about them. All you know is their name. You don’t even know their last name. You don’t know anything about them but you really love them, and the reason that you like them is because they let you talk about yourself for 30 minutes, and they were engaged and they asked you questions. They’re excited hearing about what you’re excited about and what you’re building in your business. That’s who you want to be when you meet people for the first time that you really understand who they are, what their challenges are. When they ask you, “So what do you do,” do not ever say, “I’m a multifamily syndicator,” because they have no idea what that means, and most people will not ask you, “Oh, cool. What is that,” because they don’t want to insult you. They don’t, “Oh, my gosh. I’m supposed to know what that is,” and it makes them feel stupid. We try to avoid this industry jargon and language, so don’t say I’m a multifamily syndicator.
[00:24:49] WS: What do you say?
[00:24:50] KH: Well, first of all, find out a little bit more about the person you’re talking to. If they’re business owner, for example, and you know that, now when they finally ask you what do you do, you can say, “I work with business owners. I’m a real estate investor and I help them invest in apartment buildings. They can get better returns, better cash flow, support their business, build their investments, and get some great tax reductions. Now, it’s like, “Oh, tell me more about that,” because they realize like, “Wow, she works with people that are just like me, and that sounds pretty interesting.” It’s way more interesting than a multifamily syndicator that just doesn’t. It just falls completely flat.
[00:25:24] WS: What world is that?
[00:25:25] KH: What is that, right?
[00:25:27] WS: What’s a way you’ve recently improved your business that we could apply to ours?
[00:25:30] KH: You know what? This is really more related to the syndicator on the GP side. It’s just like you’re talking to your investors. It’s do you have your GP team waiting in the wings, ready to help you jump in with EMD, with being a key principal, with raising capital when you’ve got a deal into contract. So a couple people that I’ve been working with in our group, they know that we’re looking in the Lubbock market and they’ve been prepping their investors. Lubbock market, we love tertiary markets in Texas. There’s a lot of great investments here, but they’ve been prepping their investors for those markets, so I got to keep them up to date, so they can make sure that their investors are ready as well. So when we do get under contract, everybody’s ready to go and we’re not blindsiding anybody and we’ve already got them warmed up. Just like you’re warming up your investors, keep our general partnership team warmed warm up and up top speed on what you’re doing and what you’re working on and what deals you’re going after.
[00:26:20] WS: What’s your best source for meeting new investors right now?
[00:26:23] KH: My other business, actually I love sales coaching and I’ll admit that when I was a lot younger, most sales people spend all their money. I don’t think that’s a secret. Most sales people are like, “Whoo, making great money, let me go buy the most expensive car and go shopping on Rodeo Drive,” and I was one of those, right? I was blowing money right and left, making more money I’d ever made in my life in sales but I was really young and dumb, and I wasted a lot of it. Not all the people that I work with right now are young like that or spending all their money, but they are either hard-working business owners, they’re network markets, life coaches, business coaches, multifamily syndicators. It’s helping them understand you’re making great money. Let’s say you double your income from just learning how to be better at sales. What are you doing to protect it? What are you doing to grow it? Introducing them to the multifamily world has been a pleasant surprise. It’s something I didn’t think there’d be synergy in, but it’s like I love multifamily so much. I want to help everybody that I talk to. So just figuring out what their needs are but there is some great synergy there.
[00:27:23] WS: Number one thing that’s contributed to your success.
[00:27:26] KH: The willingness to be uncomfortable, the willingness to be scared to death in so many aspects. That’s really what helped me build my sales career. I started out selling when I was really young and helped to build a company from 40 million to 220 million in less than four years. I became VP of sales, had teams. There were moments that I remember that I was scared to death. I didn’t want to do it. I didn’t know how I was going to do it, and it’s always been say yes. Figure it out later. Commit. When an opportunity comes up, say, “Yes, I’m in. I’ll do it. Yes, I’ll speak at this event. Yes, connect me with that investor. Yes, I’ll help build that team.” Whatever it is, say yes and then figure out the how later on. But commit first because it’s those moments that you’re scared to death are the ones that really help you grow and build new skill sets. All of a sudden, speaking in front of 10 people that made you want to throw up. Now, you’re speaking in front of a thousand because you’re done it before and you’ve built those skills. So be willing to be uncomfortable and be looking for opportunities that scare you.
[00:28:30] WS: How do you like to give back?
[00:28:32] KH: Oh, my gosh. Operation Underground Railroad is a organization that is very close to my heart. They fight child sex trafficking. They literally go out and rescue children out of sex trafficking rings. It’s really heavy when you first start learning about this stuff, but I’m so passionate about it. It’s an incredible organization, and I just want to find ways where both of my businesses in real state and sales coaching can contribute and help to give to that organization. So it’s something that’s very close to my heart.
[00:28:59] WS: I’ve heard about them briefly but would love to learn more personally as well. That’s incredible. Thanks for bringing that up. I would love to make more people aware of that organization. Well, Keeley, amazing show. I’m grateful for your time and just you being so willing to share your expertise. I know – If the listeners are listening, I hope they are. This is just an amazing just skill set that you have, and you’ve helped us really break down that conversation, so it doesn’t it seem so sales-ey. We don’t have to be so nervous about it. We can just relax and just get to know somebody really. So just grateful for how you broke that down and just really carried that conversation through that we need to be able to have, so grateful. How can people get in touch with you and learn more about you?
[00:29:42] KH: I’d say the easiest way is they can just shoot me an email at just my name, [email protected].
[END OF INTERVIEW]
[00:29:48] WS: Don’t go yet. Thank you for listening to today’s episode. I would love it if you would go to iTunes right now and leave a rating and written review. I want to hear your feedback. It makes a big difference in getting the podcast out there. You can also go to the Real Estate Syndication Show on Facebook, so you can connect with me and we can also receive feedback and your questions there that you want me to answer on the show. Subscribe too, so you can get the latest episodes. Lastly, I want to keep you updated. So head over to lifebridgecapital.com and sign up for the newsletter. If you’re interested in partnering with me, sign up on the contact us page, so you can talk to me directly. Have a blessed day, and I will talk to you tomorrow.
[OUTRO]
[00:30:28] ANNOUNCER: Thank you for listening to The Real Estate Syndication Show, brought to you by Life Bridge Capital. Life Bridge Capital works with investors nationwide to invest in real estate while also donating 50% of its profits to assist parents who are committing to adoption. Life Bridge Capital, making a difference one investor and one child at a time. Connect online at www.LifeBridgeCapital.com for free material and videos to further your success.
[END]
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