Funding, Finding& Refinancing With Ray McLennan

Episode 12 of the The Serviced Accommodation Property Podcast podcast, hosted by Kevin Poneskis, titled "Funding, Finding& Refinancing With Ray McLennan" was published on December 24, 2018 and runs 54 minutes.

December 24, 2018 ·54m · The Serviced Accommodation Property Podcast

Summary

Register your interest in Serviced Accommodation Discovery Day here, and a member of our team will get back to you to confirm your place at your preferred date.     This episode is a fantastic presentation by Ray McLennan about how to raise finance. He provides an invaluable insight into the way lending is organised and most importantly how you can find the funding for your project. This podcast is a must for anyone in who is a serviced accommodation entrepreneur.   KEY TAKE AWAYS   The most common complaints from developers: 1 Getting funding 2 Finding a surveyor who understands 3 Refinancing   If you can’t get it funded and its under-valued, then it’s a vicious circle and a lenders default position will be no if they don’t understand it.   Key to obtaining finance is: Find valuers that understand  Knowing what’s important to a lender or a JD partner is crucial Knowing what you want to do   The element of work required in serviced accommodation is repelling people But anything worth having is hard work. Like anything there’s an easier way and a hard way.   The hard way Banks, brokers who don’t know serviced accommodation valuers who don’t understand serviced accommodation   The easy way Get a valuation Talk to a broker who knows serviced accommodation Have an exit   Raising money for finance ebbs and flows, Lenders go to wholesale market looking for a particular percentage you can put an application in, but they might not have cash at that point. There are individuals and organisations who want to lend you the money and Angel Finance will facilitate that for you in the best way possible   There are people out there who want to lend you money you just have to be able to find them   Funding stack – when you haven’t got any money, different interest rates for different parts of the funding will be applicable as you will be dealing with different lenders.   You can get out there and look for your own JD partners People with pensions could seek its transfer value and its possible to get together with others to raise finance in this way.     BEST MOMENTS   “They want to lend you the money and for you to do the work and they’ll charge you for the privilege”   “The life of a serviced accommodation person is like that of an entrepreneur “   “Exit – may have to finance to get up and running, then re-finance if you have that in advance, it is so much easier to get first part”   “We (Angel Finance) think we can help to raise alternative funding”     VALUABLE RESOURCES   How to raise Money Podcast: https://itunes.apple.com/gb/podcast/how-to-raise-money-podcast/id1370319813?mt=2   ABOUT THE HOST Kevin Poneskis, also known as the Property Soldier, has been a full-time property investor and mentor since 2011. This happened after he served the army for 24 years. He spent a majority of these years in the 29 Commando Regiment RA and finished his time in the army as a Regimental Sergeant Major. Even during his time in the army, Kevin was already building his property portfolio and educating himself everything about real estate investments. Right now, he is writing his book Property Soldier, in which 100% of the profit from the book will go to homeless veterans, and hosting The Serviced Accommodation Podcast which educates people who want to explore and earn from serviced accommodation property investing. CONTACT METHOD Kevin’s Facebook Kevin’s LinkedIn

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