Shifting from BTL to larger-scale investments isn’t easy. While you may have self-funded and controlled the finances of a Buy-to-Let (BTL) portfolio yourself or via a management team, sometimes there needs to be a more extensive support network to help you overcome any property development finance issues.
When you work with me on a mentorship basis, you can also gain the support of my power team of finance experts who are there to support you through the whole project. One of the first things we do is sit down and chat about the property development, your wants and needs, budget and time frame. Gaining an in-depth understanding of your project will help us work in partnership with you through every upcoming step.
This was incredibly important in one of our ongoing projects for a commercial-to-residential development. In this recent development, we were given a short time frame of only three weeks for exchange and three weeks for completion of the sale. While this is record-breaking even in Covid times, my expert team was able to carry out their work to the time frame and budget set by my client.
Our client also had a lack of experience when it came to carrying out and completing a purchase of this size. Therefore, they benefited from a more experienced source – our team. We provided the best advice through the whole process, so all of us were confident that they would get the finance they needed.
Remember: these large scale conversions require alternative finance methods to smaller-scale BTL properties. Development finance is a whole new ball game!
As a result, the client’s loan to cost on the commercial-to-residential development was fantastic at 85%. For the client’s first large scale development too, this is an outstanding result and all because of the hard work of our finance team securing them the best deal.
Our finance team was also able to advise and support the client when it came to deciding how they were going to let the property after completion. At first, we looked at a multi-let type property room by room. However, after we gathered opinions from local estate agents, we understood the value of having 44 flats and thus adapted our plans based on this.
The project itself hinged on the experience I brought to the table to ensure the bank was comfortable that this was an appropriate project size for the client. Banks want security that a development will be profitable, and therefore their funds will be returned.
By creating a strong customer profile based on wealth, experience with property so far, and having the backing of people like myself with large-scale projects under our belt, you can find the funding you need with our support.
If you would like to get connected with my personal, award-winning master broker – get in touch with me today. For years I worked with sub-standard brokers, learning the hard way, so you don’t have to.
Our team develops strong relationships with banks and everyone involved in the project. This enables us to understand based on your project’s needs whether or not certain banks will be able to support you. Furthermore, reducing the timeframe and allowing your project to begin to develop smoothly. This open communication continues throughout our partnership with you. We believe it is better to stay involved in the processes than have to be caught up later along the line if a problem occurs.
For more FREE educational content dedicated to property investment and development, don’t forget to subscribe to my YouTube Channel. If you feel you would benefit from my bespoke mentorship packages, book a call with me today. We can discuss how I would be able to support your property development project, as well as what you feel you’d need from me.