Welcome to part 2 of this series on turning your next property deal from dream… to reality.
As you might recall, in Part 1 we reviewed the Access Formula – a simple framework for making sure you have a good deal in your hands. If you missed it, or in case you forgot, here’s a quick reminder.
There are 4 components to the formula:
- Ability: The ability to find a profitable property deal
- Cash: In the bank, or accessible equity
- Servicing: The ability to borrow money
- Skill: To manage a project to a profitable outcome
Together, A+C+S+S equals access to a solid deal.
If you’ve been following the Property Resource Shop blog, you are already way ahead of the pack when it comes to the Ability to find a deal and the Skill to manage it to a profitable outcome.
But what most people struggle with the most in the earlier days of their investing career is…
They Lack Cash And Servicing!
Now… if you want to become a successful property investor but lack either of the two… you really have no choice but to do the smart thing – and find yourself a joint venture partner.
That’s why in Part 1 of this series – 6 Best Places For Finding People Eager To Finance Your Deals – I reviewed where you could go about finding people who are very, very eager to finance your deal (granted it’s a good one!)
But knowing where to find them really is half the battle. The honest truth is that there is no shortage of people willing and able to finance your investment projects.
The real problem, as you will soon find out, is: