Listen to this episode below:
Susannah runs the Good Property Company, a highly respected property business sourcing high quality property deals in Bristol. She was one of our first ever guests on the Inside Property Investing podcast, back on episode 6, where she shared the details of her fascinating property journey.
Since then, we’ve kept in touch and I’ve watched in awe as she seemingly effortlessly attracts investors to fund her continued projects. It’s for that reason that I’m delighted to welcome her back today as she promises to give us some of her most important insights into the fundraising process – what works, what doesn’t, and how you can use other peoples money to fund some or all of your next deal.
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Update Since Episode 6
Susannah kicks off the show by giving us an update on what she’s been up to since we last spoke, at the start of 2015. The Good Property Company is doing phenomenally well, having sourced £23 million of property that had a value of £37 million, creating instant equity of £14 million!
She also introduces the idea of Joint Venture finance from her own experience, when she raised £600,000 at the start of her own property journey having only done 2 deals prior to that. Susannah and her team are now up to deal 190, in less than 5 years!
Fundraising – The Dos and Don’ts
The real meat of Susannah’s advice during the show is around the topic of Joint Venture finance in property investing. We discuss how it works, the different ways you can borrow money, and just as importantly, some of the major pitfalls you can come across and how to avoid them.
No joint venture discussion would be complete without a mention of PS13/3 (Restrictions on the retail distribution of unregulated collective investment schemes and close substitutes), which whilst sounding dull, is recommended reading for anyone who wants to get involved with JV borrowing.
Who, What, Where, When, and Why?
Beyond just the technical side of joint venture finance, Susannah really over-delivers with her advice on where you can start looking for money, the type of people you should be looking for (and who to avoid!), what you need to say to them to understand if they’re a good fit for you, how many times you need to speak with someone before closing a deal, and how you can keep the relationship working well for both parties long in to the future.
Want to Find Out More?
If you’re serious about raising funds with Joint Venture partners, you need to make sure you know what you’re doing so that you don’t get yourself in trouble, and don’t burn bridges with potential cash cows whilst you’re finding your feet.
Susannah and her team have prepared The Good Property Company Fundraising Pack to help you get started – with everything you need from the base knowledge, examples of legal documents, templates and tracking tools to run your fundraising like a real business.
This is ridiculously good value, and can be bought here – THE GOOD PROPERTY COMPANY FUNDRAISING PACK