You have a choice today in regard to raising money for your UK Property deals…One is the bank…Good Luck
You will jump threw so many hoops your head will start hurting…or preferably money for your UK Property deals can be found via Private Money Lenders or Partners (JV partners)
In order to have either a Private Money Lenders or someone with deep pockets JV with you…it is not about how great your deals are or if you are Superman Real Estate investor, it is all about them.
You need to ask questions and meet their needs & what are their goals. Ask what do you expect me? You need to understand them. What is important to them. How involved do they want to be, how much money are they looking to invest, when do they expect that money back, are they looking for a steady income stream ( like our Social housing HMOs which are on 5 year guaranteed contracts or do they want to flip properties with you? What are their expectations for profit is almost secondary…Trust is number one!
Knowledge is power. You must prove yourself trustworthy. Try a small deal with them and see if you both are comfortable with each other…
We want our JV partners to feel secure. Thus we suggest they own the property in their name 100%. We do all the work and split 50/50 both rents and upside sales. To protect ourselves we require a RX1 that the property can not be sold out underneath us.
Try to find JV partners that you like as people not just like them for their money. Learn about them and their families. It is all about what is in it for them. How you can help them accomplish their goals…not just yours…
Recent Comments