This is the second post about property investment through joint ventures. Here we will take a look at potential sources of people that would be willing to invest in you and your property investment projects.
It is always possible to find private or angel investors who are interested in property. You need to be clear on what type of JV you want before you talk to any of these people. The types of JV’s were discussed in the first post here.
Family And Friends
A lot of successful property investment JV’s are done with family members or friends. They are the easiest people to talk to and are likely to be open minded about the possibility. The only caveat with this is that if the venture fails and they lose money you will probably never hear the last of it.
Use That Early Inheritance
If you know that you are going to inherit money from a family member then why not discuss a property investment JV with them while they are still here? You can both benefit from this and not wait to have to pay inheritance tax in the future. Some of the money can be used now to fund your next project.
Business Networking Events
Find out where the nearest business networking event is and prepare a presentation with all of the predicted costs and profits so that you can present this. There are always business owners that are looking to invest some of their profits and property investment is likely to appeal to them. If you have to travel then be prepared to do this.
Business Angel Networks
There will be a lot of rich people at these events and you will never have a better opportunity. These events take place all over the country and you need to attend some of these as often as you can. Your networking skills will need to be good but it shouldn’t be difficult to get people to listen to you.
This is probably something you would not have thought about but it is a great place to meet people with money. It shouldn’t be too difficult to work out who has the money at these events and when the drinks kick in the egos will come to the surface and you will be able to network.
Property Networking Events
These events are held across the country and you need to be involved with them. There will be private investors there who know that property is a good investment and will be looking for people like you. The only problem is that there is likely to be a lot of competition from people trying to do the same thing. Don’t let this put you off. Be great and you will find investors.
Flying Clubs And Golf Clubs
Members of these clubs are usually rich and if you can mingle with them then you will have opportunity. Try the flying club first as they are easier to get into. If you can’t fly then take lessons. Or just wear all of the gear and go and have a drink at the club.
There will be other places and events for sure. You just need to go where the money is. You can even hire a specialist lifestyle management service that will get you into the best events and other social occasions where wealthy people will be in attendance.