My WORST EVER Property Business Partner

Simon recounts a specific project where he partnered with individuals who were managing multiple developments simultaneously, leading to significant delays and financial losses.  He discusses the importance of thorough vetting of joint venture partners, clear communication, and the necessity of having written agreements outlining responsibilities, as well as highlighting  the potential benefits of joint ventures when executed correctly KEY TAKEAWAYS It's crucial to thoroughly understand your joint venture partners, including their workload and capabilities. Overcommitting can lead to mismanagement and project delays. Clearly define who is responsible for what in the joint venture. Having a written agreement helps prevent misunderstandings and ensures accountability. Schedule regular check-ins to discuss project progress and address any issues. This helps keep everyone on the same page and fosters a sense of urgency. Ensure that all parties are aware of the financial costs involved, including interest on borrowed money. This awareness can motivate partners to act more promptly and responsibly. BEST MOMENTS "The number one mistake I made was I didn't ask them how many projects they were doing." "When someone doesn't feel the cost or the pain of the interest that's mounting up, they don't have the same sense of urgency." "You've got to be able to get on really well with that person... take your time to get to know people." "If you have an agreement in writing, it's then very clear who has or who hasn't done what they should do." VALUABLE RESOURCES To find your local pin meeting visit: ⁠www.PinMeeting.co.uk⁠ and use voucher code PODCAST to attend you first meeting as Simon's guest (instead of paying the normal £20). Contact and follow Simon here: Facebook: ⁠http://www.facebook.com/OfficialSimonZutshi⁠ LinkedIn: ⁠https://www.linkedin.com/in/simonzutshi/⁠ YouTube: ⁠https://www.youtube.com/SimonZutshiOfficial⁠ Twitter: ⁠https://twitter.com/simonzutshi⁠ Instagram: ⁠https://www.instagram.com/simonzutshi/⁠ Simon Zutshi, experienced investor, successful entrepreneur and best-selling author, is widely recognised as one of the top wealth creation strategists in the UK. Having started to invest in property in 1995 and went on to become financially independent by the age of 32. Passionate about sharing his experience, Simon founded the property investor’s network (pin) in 2003 ⁠www.pinmeeting.co.uk⁠   pin has since grown to become the largest property networking organisation in the UK, with monthly meetings in 50 cities, designed specifically to provide a supportive, educational and inspirational environment for people like you to network with and learn from other successful investors. Since 2003, Simon has taught thousands of entrepreneurs and business owners how to successfully invest in a tax-efficient way.  How to create additional streams of income, give them more time to do the things they want to do and build their long-term wealth. Simon’s book “Property Magic” which is now in its sixth edition, became an instant hit when first released in 2008 and remains an Amazon No 1 best-selling property book. Simon launched his latest business, ⁠www.CrowdProperty.com⁠, in 2014, which is an FCA Regulated peer to peer lending platform to facilitate loans between private individuals and property professionals. This Podcast has been brought to you by Disruptive Media. ⁠https://disruptivemedia.co.uk/