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In this podcast, Kevin explains how to raise finance for serviced accommodation property. Many of the tips and approaches he shares can also be used for buying other kinds of investment and development properties. For this podcast, he focuses on how to find joint venture partners who have the cash to invest.
Kevin takes you through the simple yet highly effective CREST formula. An approach that makes it far easier to raise finance regardless of your target source or the kind of project you are working on. Including how to pitch to both sophisticated and unsophisticated investors and draw loan agreements. As well as how to use private member´s clubs to make contacts with high-net-worth individuals who are actively looking to invest.
KEY TAKEAWAYS
When looking for a joint venture partner look for someone who has skills that complement yours.
Beginning to raise funds from other sources before you run out of your own money is beneficial and often wise. Kevin explains why in the podcast.
Put some funds aside as a buffer.
Tapping into multiple pots of cash enables you to get several projects and deals going at the same time.
There is an awful lot of money languishing in people´s bank accounts.
When you can offer a better rate of return than the bank people will be motivated to give you their money.
There are 3 important steps needed to successfully raise funds. Kevin explains what they are and how to complete each step in the podcast.
When you pitch, ask the other person what is important to them. Then tailor your pitch to demonstrate that your deal will deliver that for them.
Ask potential investors for feedback on upcoming deals to pique their interest. Using this under the radar influence approach is highly effective.
Use social media to share your journey, build trust, generate interest and attract investors.
BEST MOMENTS
‘You shouldn't try and joint venture ... with somebody that's just like you, you should be looking for somebody with opposite skill sets.’
‘Don´t just go in there and pitch what you think is a great deal…package the deal around what they want. ‘
‘If you are a trustworthy individual, you have got a significant advantage. ‘
VALUABLE RESOURCES
The Serviced Accommodation Property Podcast
https://propertysoldier.co.uk/
Rich Dad, Poor Dad by Robert T Kiyosaki
Serviced Accommodation Success by Kevin Poneskis
ABOUT THE HOST
Your host Kevin Poneskis enjoys public speaking, travelling, exercising, and keeping fit. He also enjoys working with a charity called STOLL which provides accommodation and training for homeless veterans.
Kevin was in the British Army serving 24 years, mostly in a Commando unit and retired at the rank of Regimental Sergeant Major. He left the Army in 2011 and became a full-time property investor. During most of his Army career, Kevin was investing in property and has been a property investor now for over 27 years.
CONTACT METHOD
https://en-gb.facebook.com/propertysoldier/
[email protected]
