Becoming known in the market through creating a clear brand is something that many successful developers have realised in recent years. A well-established brand leads to repeat business, investment capital and better access to deals in the market.
I will use a more rapid fire style for this month’s column.
1. If you are any good as a developer then you will run out of funds before you run out of good projects. Similar for the wider investor group; the people who buy and hold or invest without developing. People who hone their deal making skills will end up with more deals than they have the cash to fund.
2. Standard advice is to joint venture (JV) when you are a bit short. Use OPM - Other People’s Money. If you borrow from a bank, you are using OPM. If you find a friend with a bit of cash, it does not matter if it is a loan or a profit share. You are using money from someone else to fill a funding gap.
3. The FCA has regulations for financial promotions. Raising Funding Legally - something which requires knowledge of the FCA regulations. Alternatively, you can hire an FCA authorised party to manage the fund raising process. This not the time to debate if the FCA has regulations for financial promotions. Lack of knowledge of the laws is not a defense in court. Either stand up or stay away from fund raising.
Get great and people will throw money at you
Grant Cardone tells people to spend money getting great - education through courses or on the job. How you do it does not matter. The key is to become the best you can be in your chosen field.