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Top 5 Tips To Kickstart Your Property Business

A Joint Venture is a business arrangement where two or more parties agree to pool their resources to accomplish a specific task, e.g. fund a property deal.

The property market has changed in recent years and applying for a mortgage can be slow, time consuming, expensive and increasingly difficult.

Smart property investors know that the fastest and most lucrative way to build a successful portfolio is by forming partnerships with others and buying property with none of your own money.

You can honestly find people willing to invest in you everywhere, from sport and social clubs, to property networking events, and even through friends and family.

The key to joint venture partnerships is finding people with money to invest but not necessarily the time or skills to commit to property and providing yourself as the solution.

There are 6 clear reasons why you should be using JVs:

1. It Requires None Of Your Own Money

Yes, you really can build a property empire without investing a single penny of your own money, 100% of the finances you need can come from your JVs.

2. You Can Make A Difference

By presenting your JV partners with lucrative investment opportunities, you are helping them secure their own futures too.

Some may be looking to create a greater cash flow for their retirement or are looking to create a legacy property.

You will undoubtably experience the feel good factor of helping someone else achieve more with their money.

3. You’ll Become Part Of A Bigger Team

As anyone who works in property can probably tell you, it can be a lonely business.

Working in partnership makes the whole thing more exciting, it can also give you the opportunity to reach out and connect with a whole new group of people you may not have met otherwise.

Having a team behind you can also push you to get more from the project, and your JV partner may even have experience and knowledge you can use.

4. Becoming An Expert Opens Up New Opportunities

When you are seen as an expert in the industry, you get the chance to educate and inspire others.

This can be through a simple reply or post in a Facebook group or on the bigger scale of taking on mentees and training them.

At Assets For Life, one of the most rewarding experience for us has been teaching others to do what we do and make their property goals a reality.

5. It Can Recession Proof You

We’ve already seen the chaos following the Brexit vote and the instability of the stock market.

As far back as 2000, the property market has been outperforming the equities marketing. For each £100,000 invested in property, 132% has been generated, compared to just 83% in the stock markets.

Property can be a far safer bet than other strategies, and there will always be demand for more houses.

6. It Reduces Your Risk

When you can share the costs and risks with a partner and pool your resources, there is far less danger of things going wrong than if you go it alone.

It should be clear to you now that JVs are the way forward for any smart property investor.

But success in finding JV partners often comes down to the type of person you are.

Answer these two questions…

Do you have enthusiasm, a thirst for learning and a willingness to work hard?

Are you an honest, genuine and trustworthy person?

If the answer to both is yes, there’s no reason why you can’t achieve success in obtaining joint venture finance.

It just takes hard work and commitment. Put yourself out there and make those connections.