I know sometimes life can get tough.
I know You can get in a pickle and barely have a penny to get by.
I know this because when I started my property journey I was in £30,000 credit card debt.
You see, I hardly had any money and the credit card debt was compounding (not that you care).
So what did I do?
I thought about giving up.
‘I can’t invest in property’. Expensive word that.
I know You’re a successful property investor in the making and if you’ve had any challenges and You can relate then stay with me. Or don’t and humour me.
Within 3 months of meeting my business partner Mark Homer and within the first year, we bought 20 properties and I was out of debt.
All from that one joint venture partnership.
And I am certainly nothing ‘special’, I was certainly no expert at the time, and Mark had most of the knowledge back then.
Anyone who doesn’t know us might say that was all because of the boom years.
Actually Mark and I bought our first 20 properties pre crash and they are the worst 20, and not because we didn’t buy well. The crash that hurt so many people was the biggest guardian angel we could have hoped for.
But we were ready.
So what can You do? (I know you’re smart and decisive, but may have challenges which are temporarily holding You back).
Get out there. Network and meet people. Because once You come across a deal, and the figures work, You’ll be able to get the money. I promise you this.
You will get challenges. You won’t get rich quick – sit-on-a-Beach-drinking-Pina-Colada-in-Marbella-and-come-back-a-millionaire instant results.
I know you know this too.
You see, it’s survival of the fittest right now, and for those without the stomach for it, it’s hard.
But for You with courage who can make decisions and take action, the money that the helpless masses are losing is up for grabs, and there’s more of it than ever.
Are you game?
Building Your On & Off-line Network (net-worth)
You see, there are SPECIFIC rules, which if You follow will guarantee You success:
1. Add Value.
Regularly answer people’s questions on forums, offer suggestions, recommend someone even if You can’t directly help them.
Visibility is credibility my friend.
2. Ensure You don’t make your first post a request for money – You will come across as desperate.
Requesting money at the point when you need it, where you don’t build a relationship, don’t have a profile picture, you don’t let the JV partner know, with proof (see below..) what is in it for them, and how they can securitise their investment…will not result in a JV (no matter how much you beg..)
3. Subtely (without the big ‘I’am’) help people build their knowledge.
You will be perceived as a property expert
4. Share Your property deals, learning’s and successes.
It will attract potential JV’s as they will want the same
5. Trying to get to first base or hitting a home run won’t work (unless You’re in Peterborough) – don’t go for the kill too soon.
You will lose all credibility. You with me?
6. Joint Ventures can be done in many ways.
Don’t assume JV’s means a partner offering you finance.
7. Overcome any objections upfront and be prepared to offer security to the JV partner
8. Ensure you show as much real proof about your property deals (Mark Homer-spreadsheet-style!)
Evidenced discount, achievable rent, cashflow, graphs, returns [ROI], exit, spreadsheet data etc
9. Be REALISTIC about the returns.
Under promise and over deliver and you will have a JV partner for life
10. Continually, subtly, conversationally ask the JV partner:
“What’s most important to you in (investing, a partner, returns, etc)”
Don’t sell him.
Take time to get all the information out while letting them talk at least 2/3 of the time.
11. When attending networking events, build lasting friendships first.
Look for trust.
You wouldn’t jump into bed with someone you didn’t know, would You?
So, if you’re worried things aren’t going fast enough or You happen to be short on funds right now, then don’t sweat the small stuff.
You’re great and right where you need to be.
And if You hit a hurdle, then there’s something in your control that you need to tweak.
You never stop learning, do you?
The more value you give (to people), the more money you’ll make. Find the best people, and you’ll develop the best systems.
You haven’t given up, because you are still here. The most successful investors I know keep going, constantly learning, testing, adapting and evolving with new trends and markets.
The next person you [e] – Meet could open the door for you and introduce you into a seriously wealthy and powerful network.
Just keep on keeping on. You only fail when you stop; so just don’t stop.
“Sweat beats regret”