I had the good fortune to attend my first local REIA meeting last week. The guest speaker was the first president of the organization from back in 1980 something. Some of you may have heard of him, if not you should make a point to look him up. His name is Ron LeGrand and he has mad a fortune in REI.
During his talk he suggested finding people with an IRA and explain the benefits of converting it to a Self Directed Roth IRA and then using that money to invest in real estate, hopefully through your friendly local real estate investor. His approach is to use what he calls his elevator speech. "Do you have an IRA or any other investment capital not getting you a high rate of return safely." My question is how do I find people to use this elevator speech on. According to Ron, you can't openly advertise because that violated some SEC regulations concerning securities. I have not been able to find a place or situation to employ this technique. I am at the point of considering chancing a couple of bandit signs discretely asking about IRA losses from the market collapse and a message on my 866 number. I only need a few people to seed my start. Does anyone have any experience with this approach or opinions about how to find these people?