Raising Finance Talks
Helping property developers raise finance from private investors so they can grow and scale their property business!
Raising Finance Talks
How to protect property investors and avoid starting an accidental Ponzi scheme
In this episode we discuss:
- Signs of things going wrong in the raising finance process
- Al being an investor in a property Ponzi
- How to avoid starting a Ponzi
- Why your personal cashflow is important
- Looking after investors and the investor relationship
- Raising finance for a first development
- How long does it take to sell a property?
- Looking at the needs vs. wants of a property developer
- How to find extra cash flow
For all of our FREE resources join our Facebook Community:
bit.ly/rfclub
If you have any questions or would like us to cover any subject to do with raising finance then please let us know. You can DM us on:
https://www.instagram.com/raisingfinanceclub/
https://www.facebook.com/raisingfinanceclub
Hey guys, you're listening to arrays in finance talks with Sam UNAL, we are on an absolute mission to help developers raise their first billion from investors. So they can go on and do deals with six figure profits.
Sam:So if you're not moving forward with your property business, or a lack of cash, then this podcast is for you. We're going to seek dive into all aspects of raising private finance. So thanks for listening, and let's dive in.
Al:Welcome to the episode, everyone, we're really, really excited about this one, because it's actually a big reason. And one of the reasons we set up the raising finance club in the first place, and we're quite passionate about it. So we're looking forward to sharing this with you. It's something that really we delved into early on in our journey as well. So I think it's really, really key to bring this one out at this moment. So it's all about how personal finances can make or break your ability to raise money. And the impact, that not having your personal finances can have on raising money, your relationships with investors, doing developments, doing deals, doing projects, how it can have a huge, huge impact on all of those things. And it's a really, really big one today. So I'm excited. We're also going to have a lot of stories or some stories around Sam's journey, and also our clients as well, so that we can give you some real life examples of what you know what what's going on. You know, that's not just theory. It's actually stuff that's happening, that we've helped people with. And obviously, Sam's been through himself. All right, shall we? Should we get get get going get get get get going?
Sam:Let's do that. wherever that is. A lot
Al:of getting go in. And I told you, I was passionate about this one. So
Sam:you feel this is like really important. Because why for us? And we think it should be for everyone else, really, because number one, we want to protect investors and make sure they don't get hurt. Number two, we definitely don't want any ponzis getting started. And they do and they do. Yeah, there's a there's enough of them around in property, I think, accidental or maybe on purpose ponzis who knows get started.
Al:Yeah, I mean, this is something I've experienced, by the way, personally. So I understand the feeling and the emotion around like what, what it's like to be involved in that kind of Ponzi process. And it's not fun, it's not nice, and it can absolutely shatter a person's like relationship and also reputation. If they get into that situation. And we're going to talk a little bit about you think to yourself, oh, really, how can I possibly get into a Ponzi, like, I would never do that on purpose. But a lot of the things we're, like I said, we're going to discuss today, they're going to uncover, you know, accidentally, how people can actually sometimes end up in that position, where they're so desperate, and they're running around, and they're creating that for themselves. And and that really is the purpose of this episode. So it is an important thing to discuss, I think
Sam:Exactly, yeah. And that can happen really when like number three, like developments start to go wrong. And everything starts to unravel from there and then ponzis can get started because there's Yeah, the money, the money stacking up or the the bills stacking up and delays in a project. And then people want their money back. And then people are repaying like developers or repaying investors with a new investors money, quite often paying them a higher percentage, because they're getting desperate. And then things really start to unravel as the project progresses and comes to an end
Al:point is actually isn't it? Because it's like, as well, you know, you bridging interests. Like it just everything starts stacking up when those things go wrong. And you know, the reaction people have to when those things go wrong, if they're not prepared for it, if they don't know it's coming, if they haven't, like, like we mentioned in the very beginning, got their personal finances or things sorted out, this can have massive, massive pressure on their lives, isn't it? So
Sam:that extra level, there's enough there's enough going on in any property
Al:to add some pain and yeah,
Sam:there's all sorts of challenges that it's very kind of, you know, there's a lot of peaks and troughs and
Al:nobody mentioned the fact that Sam's doing up his house at the moment. So if anyone wants to talk about fences, be my guest
Sam:Yeah, just been just been, I just tried to have a conversation with a couple of neighbours. And I got called arrogant because I was, I was being sensible and trying to have a chat and I got called arrogant. And though the ones literally like spitting feathers and swearing at me,
Al:that's just how it goes. But these days can be stressful, right? And that's what we're trying to, I guess, prepare everyone for and it's part of what we do is part of why we set up this whole thing that we're doing with raising finance club, to prepare people help people with these things that possibly they might not have come across, or maybe they're going through them at the moment as well, which is something that this might help them with to to be able to recognise. Okay, shit, I'm going through this and maybe we, you know, well, not maybe we will have a few things that we can help you with, towards the end of this episode. One of the things, one of the big things that you were able to protect was your relationship, and was your reputation, which has now led you to the place where you, you have that Bank of investors. Yeah. So you're able to call upon that because of the reputation. And, again, a lot of the stuff we're going to talk about in the episode today, Sam, you went through this stuff, didn't you? And it was, it was right at the beginning of our journey, when, you know, we made sure that you had all this stuff locked down so that it didn't become a massive issue later down the line.
Sam:Yeah, that's it. Yeah, the biggest thing really was making sure like, for me, I really saw from the start, and before we started working together that, you know, if you can, if you've got finance, then it's just a different game. It's a whole different world you're in in property, if you've got some investment behind you. And it just opens up all kinds of doors.
Al:It comes back to that conversation we had yesterday, when we were chatting to our clients about the difference between having an investor bank like and versus funding a deal though those two things. They're just two different animals are 100%. Yeah. And I think that's kind of what we're trying to trying to get to. So yeah, let's, let's dive into some of the signs of things going wrong. And the reason we've done it this way is we don't want to point the finger and be like, you will have this problem, you are having this problem. For us. It's more about just, you know, giving you the outlook that is is okay, these things could happen. Or these are the things that could crop up all the things that you might be feeling. And then you can you can recognise Oh, yeah, that's me. I think I could I could work on that thing. And make a difference in my raising phone and phonons. My raising phones process?
Sam:Yeah, I think it's one of those things where if you, if you know these things ahead of time, then it's something you can you can plan for. Even if it might be just one of these things comes up for you. And might be multiple might be things you recognise straightaway. It might be things that need to be sorted now. Or it could be something you think, yeah, that's, that's a potential for me in the future. So it's something you can just have in the back of your mind, that's something to look out for.
Al:Yeah, definitely. And it just change, it'll just change your decision making as you go through the process, which is a huge, huge thing as well to be able to be in control of those. So let's have a look. So we've kind of segmented them into two different areas. So the first area is signs of things going wrong during the raising finance process. So you know, the first one we've got is when you haven't got your personal finances sorted, when you know everything is in kind of maybe thought about before you start this journey, you can find yourself having a huge lack of focus on the actual process of raising finance itself. So you start spinning plates, you start moving all over the place, you're doing many, many, many different things, but you're not doing them very well. And that's because you're completely distracted, you have a total lack of focus on the actual goal, which is to build an investor bank.
Sam:Yeah. And the way the way I always look at this for myself is like the try and focus on one strategic thing that I'm doing at once like one one main projects or one thing I'm trying to achieve. And that just makes everything so much easier when you're just focused on one thing, and everything goes towards that. Then all your real focus and important work you do every week goes on that then makes everything so much simpler.
Al:Yeah, and that but that can only be done kind of if you have got yourself sorted in some way, shape or form. Yeah, exactly. And that's important too. So yeah, you want to go through the second one because I think this is something A lot of people don't even don't even touch. And I think it's really, really, really key. So discuss that one as well. Yeah, yes. Yeah.
Sam:Yeah. So this something I think a lot of people like you say they don't touch on this. And then I really think about it and it just kind of happens to them after after a while. And that is a risk really of becoming so desperate for money, or desperate for the for a deal to earn money from because you haven't got your monthly finances coming in? Or maybe they're running out, maybe it was a lump sum you had and that's kind of running out or you're always getting short, they're always getting shorter. Yeah, exactly. Yeah. And that can lead to a risk of becoming desperate for money and fudging the numbers to make a deal work. It could be because of the money, it could also be created from time as I see quite a few people that are get somewhat desperate for a deal after looking for deals, or maybe, maybe they've been doing it for like, three, four months, maybe six months, maybe longer. They've looked at, you know, how many hours have they spent on write rave, you know, hundreds of hours scrolling through or trying to butter up agents, or all the rest of it, you know, and they spent a lot of time. And they maybe start to think, oh, you know, Where's where's this deal? How are other people finding deals, you know, when is when is my deal going to come? And they start to become a bit desperate, and then they'll fudge the numbers a little bit on a deal, and convince themselves that yeah, you know, the markets, okay, at the moment, I might be able to get five to five for that flat, even though really, it's maybe 480 or 495. And they start fudging those numbers on a couple of bits. And all of a sudden, they just got, like I said, too desperate to find that deal. And they ended up going entering a deal. Because they they need the money. And that's just a really rough place to be because, you know, like, we always say there's, there's a lot to do in property. And it can be tough is tricky. There's always hurdles to overcome, and there are risks in every deal. So if you're gonna do it, don't do it for Farkle
Al:Don't, don't sneak that gdv up just because you can,
Sam:you there are some deals you can be in and out fairly quickly. But if you're gonna buy something, get planning, and then do it up and sell it on, then that's, that's over a year for a lot of deals, that's just how it works out. Yeah, you know, it can take, even if you get a flat under offer in, you know, four or five weeks, it can take six months to sell that if you if you end up with the wrong solicitor, or the buyer solicitors is not up to it. So it takes time. And if you're gonna put all that time, money and effort into a deal, then just just keep working to find a deal that works. And yeah,
Al:but that's what strain a strain can do on like, when someone has a strain, or a constraint. And that's what that can do is it is you, you think you're locked. Because, you know, we need logic, right? For a deal to work, it needs to be logic, and obviously that's, you know, not our be all and end all it's the really, really key component of obviously raising finance to have something that works. But the strain from from maybe personal finances or, you know, not having your cash flow sorted or whatever that might be creates this, the logic goes out the window and the emotion kicks in. And you're like, I desperately want to do this, and I can do this and I've might have seen a training and I can do this I can I can get out there and I can make this happen. And the problem with that is that you do you will easily you'll just do whatever you want to do, which is I want a better gdv I'm gonna stick it in there because I'm thinking emotionally right now and I can just make this happen. And you know, we've all seen that by we've been networking we've we've just seen so many different people who tell you got the best deal ever in the world. And that's what they're riding on. And that's what they they they're just holding as their golden nugget. And then when you look at it, you think Hang on a moment, there's quite a few things that might be variables that could happen that could change these things. And you have no contingencies and and then you start looking no deal. Yeah, it's just no big deal. It's like press the button no deal. So that strain at home that like and I don't mean at home personal life I just mean Like the finance, the cash flow, not being ready, can really really have that impact. And I think that's really something that's important to, to look at. Okay, so there's some signs of things that can go wrong in the raising finance process. So let's now look at signs of things that can go wrong during a project. And I know these are pretty close together in terms of, you know, what we're talking about, but they are slightly different, and they might crop up at different times. So that's why we tried to sort of segment to, you know, the raising finance, which is at the beginning bit, and now we're in the project, we've raised the money. And, like, how would that like? How might you sort of see things going wrong? Or how might people see these signs crop up? The first one really is all about the effects it has on your focus during the project really, which is, you know, a big thing we've mentioned a couple of times already, yeah, that, you know, there's so many moving parts to a project. You know, there's, there's so many things that you have to deal with. And, you know, if you're not, if your focus isn't on that you can drop the ball on something really, really important. Because you're you know, you're you're constrained of cash flow, or the problem with your finances or whatever it is that you didn't get sorted out at the beginning, can come back to haunt you at that moment, where you know, it just distract you dropped the ball, something bad happens in a project, then, you know, the snowball effect happens, because it might delay the project, it might all sorts of things can happen off the back of that. I'm sure, Sam, we should be talking about fences now or should we talk about the fences? I think that's a good time. But
Sam:I've done a bit of processing over that yesterday. So we can talk about later.
Al:I didn't see the steam coming out your ears on the Zoom call yesterday, but I was not quite well, to keep the lid on it.
Sam:I impressed myself to be honest.
Al:Yeah. In terms of other distractions, other things that might crop up this next one's a big one as well, isn't it? And this is one thing that you've done amazingly well at is, is keeping this so you know, I'm gonna let
Sam:on that one. Yeah, yeah, yeah.
Al:Yeah. on that. One, the Second in the list after the one we just
Sam:saw his double check. I will stop
Al:talking about offences. I'm sorry. I know, it's I know, it's getting into his head. Just talk
Sam:about when you can catch me and I'll coach myself later on. So yeah, one one big thing, I think is, obviously we've got to be looking after the investors and that investor relationship. So if you haven't got things sorted with your own cash flow, and you're maybe running around trying to get a little bit of extra money, or just general concerns or worries, yeah, thoughts around, you know, money's running out something like that. If that's in your head, then you're going to be spending less time where you won't be able to devote so much like attention and focus in your own mind. To the investor relationship. Yeah. One thing I've been always really big on is keeping the updates. Yeah, I was going to mention this. Yeah. And that just I think we talked about this before in another episode, but one of the things we like to do, what I like to do is find out at the start of the investor relationship, just when you're about to start a project is Mr. or Mrs. Investor, how do you like to be communicated with? How would you like to be communicated with during the project? Do you want to come and see it once a week? Do you want WhatsApp? Do you want email with photos? Do you want some voice notes videos? Like, tell me exactly how often you want to be updated? And on? What channel?
Al:I remember when was that? Yeah, I remember when we talked about that. And you told me, that's one of the things you did with one of your investors. And it is really powerful, because, but what comes next is even more powerful is your ability to commit to that arrangement. Yeah. Which is exactly what we're talking about here. Because it's like, okay, you you ask them, Hey, Sam, my new investor, how would you like to be communicated to during this process? You tell me, I want to come to the project once a week. I want to have a phone call once a week. And I mean, I'm making this up, but you know, and then a text, I want an email update of how the projects go and timescales, finances everything once a month, right? Yeah. Brilliant. I can do that for you. No problem. Now, this is the start of our relationship here. And then suddenly, a week down the line two weeks down the line a month down the line. I now have all this shit that's kicked off because, you know, my cash flow has gone a while. I've got to do a little side project. To keep things moving, and you're knocking the door saying owl, mate, you said you're going to do all this stuff and you're not doing it. The relationships so hard to build back because the trust is not there, because you're competing with yourself all the time.
Sam:Yeah, it's one of those things for me, like, no matter how busy I was, I always give the updates they want. Like, as soon as they tell me then it goes in the diary. As a reminder, whenever they want that update, it goes in the diary, and I'll just put it in for like six or nine months is automatically in there every week, I'll just set the reminder. So you never forget, because you can guarantee when you're and I've experienced this with, with someone recently, actually a landowner on I'm working with at the moment. Guarantee, whenever you think about contacting someone that you think I should do that I need to give an update. And my update to this landowner was there is no update, I'm still working away with my architects and planning console, update on an update. There was no update, but I had to go, I should have been in touch. And I thought it's been a couple of weeks. I need to get in touch with them. And I didn't. And sure enough, the next next morning, Sam, have not heard anything what's going on? Yeah. And you know, it's just a
Al:massive? Yeah, if you're thinking about it, yeah, they're definitely thinking about exactly. So
Sam:yeah, I think the key for me is just always having it in the diary. So you never forget about it, no matter how busy or how much running around you're doing, you're always gonna do it. So there's a perfect example of how to do it and how not to do all in the same sentence. Yeah, I'm telling you what I do every time on a project and that is have it in my diary, then I didn't do it once. And then that's more results.
Al:Even greatest people I know. They fuck it up, too. All right. And so that's enough of that, let's, let's try and solve some problems. So we've obviously gone through a lot of things that might crop up. And let's talk about some experiences that you've had we've had together, and also experiences that we've had with our clients recently, where we've been working with them and helping them with this exact stuff, to be honest. So yeah, let's start with you, though, mate. Because obviously, we know that best don't we? We do remember, let's talk about, you know, the things that you've done and how it was for you at the beginning.
Sam:Yeah, I think as as we started, or just as we're starting, I kind of knew, as I mentioned earlier, in the episode, I was I just knew how vital it was to raise finance and and have like an excess of investors ready to go because I knew that would just change the game in terms of you know, but I wanted to go to auction or buy from a trader and you know, buy within a week or so like, they were the kind of deals that I was seeing people do, where they were getting really good returns from you know, wasn't so much stuff that was on the market, it was stuff you can buy off market, you know, through an agent, maybe that you just get an opportunities by it, because maybe the sale was like falling through and you just you need to buy it quickly, and you can get a good deal on it. So from the start, I knew how important it was for me to raise plenty of cash really. So during during that sort of first like seven or eight months, when we were working together, I lined up just a couple of small projects, really, I just wanted to get my like basic finances covered for the year. And I knew that was gonna allow me a lot of time to like, get prepared work on me and just like fully focus on, on on what we're doing together really just on the whole process.
Al:What What was the thought process without though because obviously, you know, you're, you know, you want to do it, you really want to go out and raise finance, that is a process. But you know, you're like, right, I need to go and do a few projects. Was that forward planning thought process? Was it like, Okay, if I get a couple of projects do those that it gives me runway to really go out this raising finance process? Is that kind of where you're at?
Sam:Yeah, that was it. I done. I just finished my first development. I think, actually, it's right when we started actually, I think I've completed on the sale of that. So I had a little bit of funds from that. And I just thought Yeah, for the next like, for the next year or so I would just want to kind of maintain like just cover my finances for the next year by doing a couple of small projects. And obviously they weren't as easy as I thought because I had issues with the builder. But well no projects are easy. Yeah, but But the process for me was a couple of easy projects, they're not going to be too difficult. And they weren't difficult just builders were a bit of a pain in the ass sometimes on. Yes. So yeah, a couple of small projects, they were a studio, that I turned into a one bed. And the other one was just a one bed that was refurbed. And straight back on the market. So kind of a week, build time, proposed, proposed, not delivered. Yeah, not too far off. But yeah, I knew when I took on those projects that I'd get a few grand from them, they wouldn't be huge returns. But you know, it would be enough to cover my finances for the year. And they wouldn't take up too much of my kind of focus and mental capacity, really, because they were just pretty simple flips for me.
Al:But that's what we weren't, we can't but we, if you reverse it back, we sat down, didn't we? And we went through all that. So hat, what do I need? Or how much do I need versus everyone is living on the this is what I want? I want I want 100k? I want 100k or 10k a month? That's a standard thing and property. I don't I don't know what this thing is, is like the 10k dust. It's like 10k. I want that's what I'm working toward that. But that's the whole thing. You're working towards that. But you know, we looked at the needs, like what do we need, needs versus wants, and making sure that you know, when it's time to properly deliver and properly get stuck into the raising finance process. You're not doing all of these things that we've discussed, you're kind of you're ready, you're focused, you know exactly what you've, you've got coming in, you've covered the needs. And you know that that side of things, or as an old mentor used to say to me the oxygen, you've cut, you've got your oxygen figure been, you know, then you're going after the once and then I think that's yeah, you do did that really well. And we spent a lot of time doing that. So I think it's one that really
Sam:allowed me to spend a lot of time you know, once I'd learned something new, I'd had like a mindset changed or just like discovered a new belief. That was when I really think it was time well spent. Like yeah, having those couple of simple projects to do just allow me to just be sitting in my office, chilling out looking at my posts on the wall going over the like coaching that we'd done together, and all my notes from that and just like letting that sort of sink in and just like ruminate really then all the new sort of the changes and everything that I was going through, and how I kind of saw myself as a person of value, compared to how I previously saw myself. So that I think having that free time really allowed me to like, go through that process and just sit with it, and then gain a new level of confidence. And also, like doing things like prepping for for calls with potential investors, I'd be able to spend huge amounts of time on it. And I just had, I got really good feedback from calls and they all went really well because I was able to like I was spending like an hour or so writing out a load of posts that are things that things are potential talking points on the call, like Yeah, going through what the potential project details are potential like facts about the person I'm talking to. So it's like in be like a rapport and connection on a call that kind of thing. I have all that written out just so it's nice and easy. And I can kind of rehearse a little bit, the call was in my mind in my office. And that led to me just having really amazing calls with everyone that I spoke to. So yeah, I'd say like doing those two simple projects just gave free me up and, and gave me the time to really focus on what I was doing with you and raising finance. And ultimately, I raised just under 4 million in eight months.
Al:Yeah, no, that's mental but it's, it's, uh, but it is because you had the time to do it. And this is this is the key thing, because a lot of people ask us, and we do have these discussions with people that I you know, I don't know how to think about all my vision stuff, my values and all and, you know, my goals, and all of that stuff. I don't know how to go into detail on that, because I just don't have the time to do it. I haven't, I can't do it. But that's the idea. You're doing that stuff, to then lead you into being able to go out there and raise finance because you're creating confidence through competence, and it's really important. So I think that allowed you and freed you up to do things that you just wouldn't have been able to do if you're gone just bang into let's go find a deal. Let's get development because I can make this happen. You know a new would have been in in the position that we've discussed with all of these things cropping up on you. And that's the difference you kind of, I don't want to say enjoy the pro process because I would really hard moments and obviously, things go wrong and projects and all of those things that we all will deal with, and we can't really take them away. But you did enjoy the process. It was a more of a more enjoyable process. Yeah.
Sam:Love to have that. Yeah, absolutely.
Al:Is there anything else you want to add on like your on your stuff? And we've covered quite a bit there, actually. But
Sam:no, I think that's about it. Oh, now, let's, let's talk clients.
Al:Let's, let's talk for clients. Oh, clients, I thought you said Let's Talk Science. I was like,
Sam:What the fuck is going on science of investing?
Al:Lost it? Okay, let's talk clients. I like it. Yeah, this is a really good example. And I think this is something that is just highlights, doesn't it? How? I'm still loving. Let's Talk Science. Well, ironically, yeah. This
Sam:way you missed it, you missed the segue the century gave you the sciences
Al:is the client. Yes, that was the man that had the science of investing up his sleeve. So we, yeah, we did a little bit of work, didn't we in the early days, because something we always do is like, we'd go through the process of, okay. You know, cash flow, we got your needs, we've got your wants, we've got your needs, that that's so important to understand, on a deep, deep level your needs, because that's the thing, that if it is sort of, if it isn't enough, then you know, you need to top it up, or you need to find a way of making sure that that need is covered, because that's the thing that's going to end up getting you into major trouble. And look, there are people out there, I understand that have got jobs, they've got salaries, they're all good in the need department. And that's okay. But first, for those that aren't that maybe have switched into property as sort of an entrepreneurial decision. You know, this is really important. And it we discovered that, you know, if he were to have at that moment, gone into the raising finance process without covering this off without thinking about this, all of the stuff that we've discussed, had the potential to have happened to him. Yeah. Which would have been really upsetting, obviously, because, you know, he's got so much to offer. And it's got such a great opportunity for investors now, that, you know, that would have all been ruined effectively, which is just a bit. Yeah, you could have been a bit of a shame. But
Sam:yeah, can just feel like you're going backwards as well. Yeah, yeah. Yeah. Like that. Not having that cash flow is just pulling you backwards. Yeah.
Al:So tweet, the tweet to the business model, talk about some because it's like, what, what we did with him, and how we sort of went through it. And, you know, the, you know, how easy it was, I guess, just to find that it wasn't a lot of money, but just extra bit of cash flow that actually set him free in a way. Yeah, that's
Sam:it I'm. So first of all, I think he was we talked about his cash flow. And then he was thinking about trying to do some small little side projects, sourcing things, that kind of thing, just to get the odd bit of extra cash flow coming in. So he's thinking about that. And it's not something that he's done before. Just something he wanted to start doing, because it sounded good, because you get the odd couple of grand coming in here and there
Al:as a side hustle, essentially, to top up on his cash flow. Yeah,
Sam:exactly. Yeah. So he would have had to go out there, create, you know, a new network, essentially, an entire business and an entire business around deal sourcing. So that's a load of agents, and a load of property developers and to get something going, you need to be absolutely flying ready, and you need to be good. Yeah, I'm making massive amounts of contacts, like every week, and having like a massive database is key to getting anywhere in that business. Which takes time, doesn't it? Yeah, tie no time and effort. 100%. So but we looked at what he was already doing. And we we made a few tweaks to his business model. And that was to increase the, the amount of rent he was charging to some of his tenants.
Al:Yeah. Now, just to caveat this, we're not here to say like everyone go out there and put their rents up. That is not what this is about. We looked at the circumstance of it, we looked at the whole situation, and we in terms of, you know, he hadn't put his rent up for ages. Obviously, with all of this stuff going on at the moment, which, you know, the increase in costs, the maintenance costs, all of this stuff that he was having to soak up. We looked at all of that, and we said, well, actually, if you if you know you're do it anyway. So you know, if you did that across the board of your portfolio, that would basically change your situation to exactly what you need it to be to free you up. Yeah, you know, so it was a big, a big thing to just look at what you've got, isn't it?
Sam:Yeah, take a step back because it can be not it doesn't have to be about creating something, a new business, it can be just looking at what you've already got and how you can adjust it. Yeah, we used to juice the juice a little bit more. Yeah, exactly. Yeah. Which is the same really for for another client really? Yeah, we looked at it, we looked at the services that he was providing, and his business that he's doing part time at the moment, he's part time in one business and then part time in property. And we looked at how he could change his services, and add more services so that he could charge clients more and provide more value to them, but also, obviously charge them more. And this allowed him to increase his prices without the need for extra customers really. So yeah, not no extra work really well, there's small bits of extra work just to provide that extra bit of value. But he doesn't have to go and find a load of extra customers, that kind of thing, the customer is already coming in, he just needs to just change the service a little bit. So he can provide more for them. That's a value and obviously charge accordingly.
Al:Yeah, no. And and this is I think this is the thing sometimes, isn't it when you're faced with these issues? You I don't know why we just take the path of most resistance, as opposed to the path of least resistance. And, and the reason is, I, from my experience anyway, in in coaching and helping people, you know, it's because they're stuck in it too much. And they're not able to, just so you know that some pour a cup of water, just in case it comes up. podcast has been moved to the toilet. So in my experience is sort of, it's more about, you know, taking that bird's eye view, right, you know, and looking at what you've got, and being able to lift yourself out of what you're doing and say, right, what have I got right now that I could maybe tweak or change to solve the problem I have, you know, it doesn't have to be grand, it doesn't have to be massive, doesn't have to take loads of time. So I think it's really key thing for people to look at. And it's really helpful.
Sam:Yeah, that's one thing I've done with a coaching client recently, was to really sit down. And it's not until you get it all on paper, that you can really look at these things. So I think that that's an exercise that anyone could do. If you think your help is getting everything out on paper and looking at your income now and what you currently do and how that can be changed or adjusted slightly, without having to go and do a whole new project or like you say, a side hustle.
Al:Yeah, no, definitely. It's, it's key. So, I mean, that's most of I mean, we could come up with more, but we just wanted to give you sort of a well rounded view of life experiences that Sam's had experiences we've had of working with people to just tweak things to allow them to kind of get those personal finances sorted so that they're free to go, they're free to go out there and, and make it happen, I guess, in a way, and I think that's really key. So moving into it, like what does this all mean to the industry, because this is something again, if we link it back to what we talked about, at the beginning, this is something that was really important to us, when we started the raising finance club is, is about the industry, isn't it, because, you know, by putting people's money at risk, you know, you're having that lack of stability, you know, you're in this position where you're, you are starting to ruin relationships and, and with all of that you're ruining the reputation of property as a good investment. And I think that's a really vital thing and a really vital thing we wanted to share, because all of this stuff can eventually stop all of that happening. It's it's like a one for all All for one scenario where we're all in this industry together, none of us one property investment to be looked at as a terrible vehicle. But the more people that are maybe out there and you know, as we've said, These things are happening to them and they're accidentally getting into bad situations accidentally getting bad reputations from you know, something that they could have maybe solved at the beginning, which is their personal finances, making sure they were all in shape, I think is really, really key
Sam:thing is made because ultimately everything you just talked about there gives property and property entrepreneurs a bad name in finance process and obviously doing a development after that.
Al:Yeah, no, it's all really key and I know that some of it might sound obvious, but you know it is really important stuff to just get stuck into before Will you go on this wonderful journey that is raising finance? See you next week. See you next week.
Sam:If you want to attract investors without asking for money, check out raising finance club.com for our free resources, and you can also follow us on Instagram and Facebook at raising finance club