My transition from raising £50-150,000 from private investors for my own deals to £3,056,000 for The Vincit Group has been an interesting journey. Interesting to the point I decided to make it my main topic of a recent talk at The Central London Property Event.
There have been four main factors that have contributed to 'my' transition: limiting beliefs; support/mentors; fear/comfort zone and equity JVs.
I realized a few years ago I had reached a ceiling that I couldn't get past in respect of funding and property deals. As a sole trader I had a limiting belief that I couldn't and wouldn't want to reach the next 'rung'. I also came to realize, on my own, that this was not achievable.
In my head raising millions of money on a few deals was out of my comfort zone, and which required support. In what guise this support would take I had no idea. Now don't get me wrong, in the last 13 years I've raised a significant amount of money, £2m with one investor but covering around 50 deals. Now I'm looking for £3m over 4 deals within 3 months.
I have to say the biggest contributor for my transition has to be the support. A few years ago I joined a 'Mastermind' group consisting of 6 property professionals two of whom, Prab Paul and Thierry Lemaire, are now my fellow business partners. Then last October, Harinder, joined us as our managing director. Their support and mentorship has enabled me to overcome my limiting beliefs and my fear. There is
no comfort zone for me now just a pleasurable state of uncomfortability: is that an oxymoron?