How to raise £1,000,000
Okay, so the title suggests £1,000,000 when the truth is we have secured just over £900,000. But it is not far off.
What is also fitting about this, is that we did this just last week through investors looking to work with, and we signed 2 deals which are now underway. For full transparency, we do have investors earmarking they have funds up to £12,000,000 for us but I never count this until money hits the bank!
Now onto the point of this post, to hopefully help you achieve your funding and raising finance from investors.
I want to give you some tangible advice that can help move your journey forward and please don’t see this post as my highlight reel or me boasting about the funds we have been able to secure, because it is not why I am writing this.
I write this article to show everyone who has followed my journey on my progress from when I first started documenting the process. 2.5 years ago I purchased an end terrace for £45,000 with my own money. Today we are purchasing multiple units at £600,000 with none of my own funds. We are also joint venturing on land deals with planning with GDV above £1,600,000.
I also write this because, your ability to raise finance is what will separate you from the rest in this game and you need to understand how to raise it.
Property above all else is a peoples business. People have to buy into you, trust you and be confident you can deliver whatever it is you offer. As a result of this I want to try to add value and give you some insight into the things that helped me raise finance.
Tips:
1. Don’t just randomly post onto social media ‘hey who wants 8% on their money.’
It’s too generic & it’s too common in my opinion. Let’s be honest, if nobody knows you, or hasn’t seen you operate consistently and authentically, why would they suddenly just give you money for 8%. Yes I understand the notion that 8% beats banks, we know this, but why you over all the other 100 posters?
2. Let people see you.
This means you have to be present on whatever social platform you feel comfortable with. Your messages have to be clear and visible too, whether it is through videos, pictures, posts, blogs or articles. The key behind people seeing you, should be that you demonstrate: Your values, ethics, losses, your wins and journey.
3. Change your mindset.
£100k-£150k was a lot of money to me when I first raised it. In fact, I wasn’t even confident in myself of using that amount of money and I remember at the time I passed these opportunities over to a friend of mine. This helped my friend build their business and fund their deals, but it didn’t really serve me other than feeling like a ‘good person’ and connecting dots for others. Today however, things have changed now as I realise the importance of building your own life first before you can help anyone out. Once you have filled your own cup, using the analogy, can you start to fill others. A lesson I have since learnt.
4. Don’t put money on a pedestal.
Yes it’s important in the game of property but so is finding deals, appraising deals, having the right power team available, time, experience and vision. All these things matter just as much. Most people who invest with us, aren’t time rich and lack the experience in sourcing and analysing deals. This allows us to then make it hands off for them entirely to suit their criteria and in return assist us in our ventures.
5. Build relationships.
Relationships are they key to success in whatever venture you operate in. For property purposes don’t just build relationships to gain or utilise someone elses money! Build them to share value and join each other on a journey and build them because your values and ethics align. It should never be done with the intent to just secure a deal you have in mind, and should always have a longer term objective that is good for all parties.
6. Recognise that it takes time.
Just going on a course isn’t going to suddenly make people invest you. In a game that requires real hands on experience the course material is only the start. You now need to put this into practise and see how it materialises in the real world. Logically thinking, just put yourself in an investors shoes: You have spent £5,000 on a course now that should suddenly mean an investor has to give you £200,000 or should?
Build your skill set and earn your stripes.
7. Run your own race.
Most people online either fabricate their stories or don’t talk about their losses. I see people pretending they have worked 10 years to get to where they are, or they have achieved XYZ yet the reality is it isn’t the whole truth. Be real and tell your own story. It’s easier to remember and it lets’s people buy into your story! Anyone who saw my posts from 3 years ago can see 99% of them was me losing money, faith, deals etc. Allow it to teach you resilience and so much experience.
8. Be you.
Following on from the last point, you can’t raise money trying to be like me and I can’t raise money trying to be like you. Your gift is unique and your investors will appreciate that.
9. Investors are people not banks.
Treat them as such.
10. Take action daily.
Not just weekdays, or days you feel like it. You have to move forward or at least attempt to be 1% better every single day. Consistency is the key behind this game so get used to rejection and get used to throwing down offers, offers and more offers. Also, make it your goal to tell everyone what you do as much as you can daily too!
Hope this helps everyone!
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