💷 From Kitchens to Riches: The Recipe to Scale Your Portfolio Fast with Salim Miah

Hello you fantastic, lovely people and welcome to the Deal Finders Corner, your weekly properties talk show brought to you by Property Filter, hosted by yours truly, Asif Omar from the Property Filter team. We are the UK's highest rated platform for finding deals and we're on a mission to empower property investors and Deal Source members to find 1000 deals thanks to the Property Filter blueprint. The purpose with the Deal Finders Corner is to give you more and the best of the available resources. Invite expert guests who will share with you the latest and most current strategies, tactics and secrets about what actually works right now in terms of finding and making deals and the reality of systemizing and running a high performance business in property. It's my absolute pleasure to today to introduce the rather wonderful Salim on today's Deal Finder Corner. With over 18 years of experience in property, Salim made a remarkable leap from a thriving career as a chef to building a dynamic and rapidly growing investment portfolio. His ventures span residential, commercial, mixed use assets and he's constantly in the thick of the action working on multiple deals all at once. Salim partners with investors, creates powerful joint ventures and raises capital for high return property projects. In the past two years he has raised over £750,000, much of it in the last year alone. Today you will discover his journey, his methods and how you can leave ready and be inspired to do exactly what the same. In this episode we are going to learn, number one, leverage time. Fast track growth by partnering with others, outsourcing the right tasks and focusing on what moves the needle. Number two, leverage knowledge, learn how to tap into experience, avoid costly mistakes and structure deals that benefit all parties. Number three, leverage money. Get clear on raising and deploying investor finance effectively to grow your portfolio without using any of your cash. And of course as always, it's followed by an exclusive Q and A. So if you have any burning questions then please, please put them in the chat and we'll get to it at the end. So can we give the usual massive Property filter welcome to Salim Everyone just hands. That's what we like to do. Jaz Hands. Welcome, welcome Salim. How are we on this fine, fine day?

Good afternoon Asif. Thank you for the kind intro. Well, you know what an intro, you've, you've been too kind. Good afternoon everyone. Yeah, I really look forward to it. There's going to be lots and lots of content and lots of golden nuggets, you know for sure.

Yeah, we are absolutely blessed for you and the stuff that you have been doing just in this last six months is Very, very inspiring and I'm super excited because I suppose the people in our community, they actually aren't that far away from what they want to achieve. And I think the benefit of today's presentation is going to help them to understand how they can get to that. So without further ado, would you like to share your slides? Good, sir.

Brilliant. Good afternoon, everyone. My objective for today is if you can get some value off that, then my job would be done. So. So without further ado, I will be sharing my screen. Okay, Please put your hands up if you can see my screen. Okay, now we're good. Okay. Is, is it all fine, like you can hear me? Okay, we can hear you.

Good. The only thing you just need to do is hide at the bottom where it says Community Property Filter.

Okay.

So that I hide that and then share your screen.

Okay. So without further ado, is, is this fine?

That is the one.

Okay, so we're nearly there. Okay. If you can't see me or hear me, please just mark it out. So look, I've got lots of stuff to cover and I'm going to and be covering as much as I can. Thank you for the opportunity for Property Filter. So who am I and what do I do? So my name is Salimir, I've been a former chef and restaurant owner. So I, you know, grew up in the restaurant industry. My grandfather was Russian owner, my father was and so was I. My father opened the first ever Indian restaurant on the Isle of Wight. We grew up in the business, me and my brother. I had no intention of being a property investor. Life changes, so. So that's how I become. Which I'll get on to. I'm born and bred on the Isle of Wight. I started very young. I started investing since 2007 purely buy to lets commercial properties as a side income, a pension thing. My passion wasn't cooking, wasn't in property, it was just a side income. Life. Circumstances change, hence things got different and I've done multiple, multiple property strategies. Buy to let's HMOs, rent to rent, essays, committee resi conversions, the lot. So that's me now. I started investing in 2007. It was only in 2016 where my. And it's. And it's quite personal to me and I don't really share. This is. My daughter got cancer, she was 12 months old. That was in 2017. My daughter was born in 2016 when she was 12 months old. That changed my life around. It's during that time I thought where am I going to take my Life I need to look at things different. You kind of appreciate life more and you, you're not there for your family and you're, you know, because you're always working in the restaurant. So that's when I started to think, wait a minute, I'll get into property full time. I started educating myself in 2017, 18 and that led on to my rent to rent SA journey. Now during that time my daughter was in hospital, she's fine now. She's 80 years old now. She had to have a liver transplant, 11 rounds of chemotherapy. It's during that time I thought, no, I need to take mentoring, I need to educate myself. And wow, I, it opened up a world. I got curious, you know, or, you know, I've never heard, I've, you know, never heard of these strategies. So I signed up to a few, few like online courses and then I thought I'll go for the full, you know, masterminds I've been taught by Simon Zucchi and a few others as well. That's where I started my investment journey. And I wanted, although I had my property portfolio on the side and that was generating income and I had a restaurant salary but I needed a side income which would. Exactly. Which I'd be able to phase out from the restaurant industry to go to, you know, property. The plan was always not to be in rent to rents for a long time, only a five year plan so it could allow me to leave the Russian industry. So Rent to Rent SA was the perfect. Being on the Isle of Wight, we have a lot of holiday lets. It was quite seasonal and I thought, you know, I couldn't put income and wait six months. Brr. No. It had to be an immediate cash flow. And the strategy I chose was Rent to Rent sa. My first ever apartment I launched is, is on the bottom third. Right. It took me five months to get my first rent to rent deal. By the way, I'm the first person on the Isle of White who's done Rent to rent. So explaining that and educating agents was quite a task. But then afterwards, look, you know, my mentor said, salim, keep on knocking, the doors do open. Then the five. Then a few months later, second unit came and third unit came. And what's really going back to the genre for today is on my third unit I was on a call with one of my mentors and he was asking, well how many units have you got? I said two. He said, well what's stopping you getting the third and fourth? I said, well, funding. He said, well let's have a look. At the numbers and he said well the numbers are great. You're getting a thousand pound cash flow from an eight grand investment and it's on a five year deal. So basically what about this? And I wasn't even pitching. He said what about this? I've got 80k, let's set up another eight units. So that was in 2021 and I thought wow, this is where my joint venture investor funding journey started and in the end I scaled up to eight. I didn't want more than eight because obviously you don't want to saturate the art in an area Isla White's not like Birmingham, London. It's not huge, it's not big. There only is like a limited market. So I thought I'll scale up to eight units. I had a five year plan. In year three I got to where I wanted to which was to work with other investor developers to educate myself further and to be buying assets of my own. So rent to rent was only a side stepping stone And I've got one unit left which I've kept, which is my first one now funds raised over the nearly the last two years. These are some of my projects that I've raised, how I've raised them. I'm going to be showing you exactly how the process I followed. On the, on the left we've got, we've got the Shoe Zone which is an old, you know, like, which is an old commercial building. We converted 3 flats and a shop. I raised 130k there. Now this one is my latest deal. It's a mega deal. It's free, free old buildings free over four and a half thousand square feet. We bought at auction for 175k. So with the VAT and the costs and other costs involved this was 100% in, funded by one of my JV partners. Now the numbers on that were the left hand side building. It's, it's going to be a four bed townhouse. The two other buildings is going to be a 15 bed HMO and we've got 20 car parking spaces at the back. So we've spent about 250 on, on the development. It's going to be at 500k. We're going to have a GDV of 1.3, 1.4 million. It's an all money out and some more and we're going to have about a 12,000 pound rent roll a month. So we've got four bed town and 15 bed HMO and 20 car parking spaces. That was, all of it was funded by an investor. I raised 105k for another property there last year which we converted from a 2 to a 3 bed. I've raised 90k on the left hand side here. This is the old restaurant premises which I bought from my family and I converted the uppers. Just made the property, you know, bigger to add value. I've raised 90k in the middle picture which is a free to 5 bed HMO conversion and 90k. This is one of my purchases as well. It's a bungalow. We're doing that with a plan again having a picture conversion. So I think it's actually a bit more I've raised but that's, that's about 750000 and that's spanning nearly two years that I've raised now. Now lost deals. I've actually lost more deals than I've won now. You win some, you lose some, you can't have them all. Now on the left, this was a 7 bed HMO. The next one to that was an old Barclays building which we're going to convert to six flats and two shops. There's the other one which was a bed and breakfast. We lost our auction. And the other one on the right was an all money out. It was a free old block, one shop and four flats, one one title. Purchase price was 270 and GDV 450 and just paperwork exercise, all money out. But the thing why there's different, you know, sort of reasons why these didn't work is because the numbers didn't work on, you know, some of them. We had already spent some money on legals. Then we found out in the end that the person didn't get the right sort of building regs in place or the right planning permission. You know, there's all these various things so you can't win them all. But it's just to say that these were ready to be, you know, funded by investors. But I've actually lost more deals than I've won. Now. What I wanted to cover is the main genre for today is a lot of people ask is what is the best strategy. This is something you can answer yourself, really. You need to be asking is the true success in property investment. It hinges on these three things and they're very critical. You need to know how much time you have, you need to know how much knowledge you have and how much money you have. Now no one or no one can have all free. Now that might be rare, you might have all for free, but that's very rare to find. You've either got the time and the knowledge and you don't have the money or someone might not have the money, they're in a high flying job in London, in the city, they might not have the knowledge of the time. This is something that you need to marry up. So you need to establish how much time on knowledge and how much money you have. If you don't have any of those aspects, that's something you can leverage. Leverage Here is the key. Leveraging these three things are really, really important and critical. Going to go into it on my next slide and break it down for you. If you don't have leverage. Well, you need to leverage that. Tap into industry experts, agents and other property professionals. Learn from mentors, educational companies and industry leaders. So you need to educate yourself. You need to learn from other agents on plugin property professionals, you know, so you can leverage that information. Don't do it on your own. You want to be working on your business rather than in it. You, you know, build, build the relationships with industry experts and always surround yourself with strong power team for advice and insights. They can re risk it in terms of leveraging time. Well, you should utilize agents to efficiently find and negotiate deals. Educate them as well. If you don't ask, you don't get. We've just had a lease option purely. I know some people say that oh no, agents don't understand. It depends on how you educate them. They've never heard of that and you wouldn't use the term lease option. But if you said look I really like this property, I'd like to rent it for a period of time but could I buy it in the future? So using just simple language like that, you know, if you don't ask, you don't get. So actually train them and educate them. You know where the various stuff. Make sure you find out the pain points of the vendors, you know, what are their circumstances. You can use any sort of strategy, any tools are there to use upon finding out the circumstances, whether exchange, delayed completion, vendor finance, lease options. So leverage their time, delegate tasks to builders, tradespeople and solicitors. Now you, if you're a newbie in property, you don't know how to price up, that's fine, the information is out there. Builders, plumbers, electricians, these are people that you, that can help you, you know, cost or give you quote for the cost of the works on a refurb. Work with VAs, they can take off, take on admin support and research, you know, so that you know allows you more time to spend more Time in your property business or whatever business you're in, and then meet property pro professionals at networking events to speed up connections. Now this is the, the most important one that people struggle on is some people will have knowledge, some people will have time, some people will have both. The main hurdle they fall on is how to leverage money. We're going to be coming on to that on the next few slides. But leveraging money is the most stumbling block for everyone is you want to secure crucial funding from private investors seeking solid returns. Bear in mind, you might have an investor that doesn't have the time or the, you know, money and I'm sorry, you know, doesn't have the time and they don't have the knowledge. But they're looking for someone like you that they can invest in, you know, form mutual, you know, like beneficial joint venture partnerships. Then you've got, you know, it all depends on how good your broker is. There's various bridging products out there that will give you, you know, funding alone from the actual GDV rather than the purchase price. So having a good broker that's quite savvy is also important as well. You can get quite creative with, you know, bridging. There's many, you know, products out there. Now we've covered leveraging knowledge, time and money, so you need to establish which one's what. Now the next one I'm going to go into is Know, like and trust. Okay? Once you've powered the art form of leveraging, you need to use the know, like and trust method. And this is the exact method that has taken me, has taken me years to perfect. Now, to attract the right partners, you need to be visible, okay? You need to get people to know you. Once they get to know you, they like you. Once they like you, they trust you and can you all heal me? Okay, Is that fine? As if.

Yeah, you're absolutely smashing it. All good in this. And I'm sure others are as well. His head is getting closer to the camera.

Okay, sorry, sorry if it's a bit small, Bruce, but okay, so the no like trust method is the absolute epitome. You need to master this. Okay? This is my blueprint that I'm actually followed and has taken me years which I'm sharing today. Okay? So you've got to be seen to be networking. So to attract the right partners, you need to be visible and vocal. You need to build, obviously you need to build like the recognition first step towards unlocking. Now you need to be seen to be networked, actively attend property Events and you know, other, other meetings, gatherings, mingle, introduce yourself, ensure your familiar face in the community. Leveraging video. Now you could be shy. My mentor said to me years ago, salim, you can't be shy, just get out. So you've got to feel uncomfortable, okay. Which I will get to in a second. You've got to put video content in there to convoy your personality and your insights. Okay? People invest in people first, bricks and mortar second. Okay. Allow and then allow potential partners to see and hear your passion and approach. Okay. Property is a, like, you know, like property is a people's game and then you've got to speak up and share. So basically introduce yourself clearly at events, sharing your expertise and then obviously cultivate a strong media social presence to share project updates and successes and lessons learned. It's not about the wins. Also share your lessons. So someone was saying to me the other day, but I don't have, you know, I don't have a portfolio, I don't have any property. I said, look, I'm going to break the common myth for you that you need to be, you need to have 20 years experience, you need a massive portfolio for, for, for yourself to investable. No, you could go out there on Facebook and you've got, you know, you've got, no, you've got no properties at all. Oh, hi there, my name's Salim. I've just come off a viewing. I've just found a really great deal. So this property is going for so and so. The refurb is going to so and so. The end product is going to be so and so. Now this is nearly an all money out deal and the rent's going to. Cash flow is going to be so and so. I'm finding more of these deals. If, if, if you are interested about more of these deals then you know like, you know, reach out to me. Happy to have a chat. So you're demonstrating and showing your journey. Okay. And telling people what you do. So that's just one example. And you have to engage and contribute. Do not be selfish. Actively comment on industry posts, join forums, other free tips and guides. You could comment and add value to someone else's, you know, so if someone's saying, I don't know this, I don't know that, so make sure you help others for, in order for others to help you, you've got to, you know, help others. So you've got to provide value to, to your community to establish yourself. So that's the. No, once they get to know you, they like you and how do they like you? Okay, so this is where you can build up the personal connection beyond the proffer, you know, beyond the professional touch. People invest in people they generally like. You've got to build up rapport and foster those connections and trust. So, so first we covered was how they get to know you. So we've covered that. Then it's how once they get to know you, they like you. Now you should give first you should offer advice. You know, connect with others and assist without expecting immediate returns. Once again, I said don't be selfish. Help others and give. Okay? And, and then that builds the goodwill. Then you become generous. Show genuine interest. Ask about their goals. It's not about yourself. Ask about what their passion and ambitions are and about. And also about the challenges. Property. You can make more money from property by problem solving. Okay, so like another word for property investors is problem solvers. Everyone has a problem. Now, a good problem to have is an investor with some funds. They don't know where to deploy. They're looking for people like you to actually, you know, to deploy too. So you've got to show genuine interest. Ask about their goals, their challenges. If they like to build a portfolio, why can't you do it? And the most common thing would be, well, I don't have the time or knowledge they're seeking. People with the time and knowledge. And that could be you. So actively, so actively listening demonstrates you care about your successes. Okay, Number third is always be reliable. So consistently follow up and deliver on your promises. Reliability is the conversation of trust. Be yourself. Okay, don't, don't. It's, it's, it's not a guessing game. If there's something an investor agent or anyone asks or a partner, if you don't know, then just honestly don't guess. Just say, I'm not sure about that. Let me come back to you. Okay? So always be yourself and be. And be authentic people. Invest in people. Okay? So share both your triumphs and your learning experience. And then the authenticity basically resonates and builds and it does build a deeper connection. And number five is maintain a positive presence. Approach interactions with an approachable solution, focused mindset. So be always positive. And you know, and that could be quite sort of contagious. So they get to know you how, once they get to know you, they like you. Now the third one is trust. Now, trust is the ultimate currency. And property, it's what you know, transform conversations into concrete joint ventures and vital funding. Now once they get to know you, they like you. And then the trust Will fall into place automatically. It's a matter of about timing. It could vary. There's, you know, some people say it's an eight point touch, six point touch, you know, whatever. But once you're in the road, you know, if you're on the road sooner or later trust will fall into place. But you've got to demonstrate that by show tangible results. So present compelling case studies. Now once again, if you're someone new on the property ladder, you don't have a case study you could show a case study of. Look, I've got a few, I've got a few emails here from agents and these are some deals that I've lost out on. These were the numbers. So it doesn't mean that you've done, that you've done property deals before. You could be new. So that's a different form, that's a different form case study. But if you have done them deals before, before and after photos of developments and clear, clear metrics of the finances. These were the numbers. Let your track, let your track record speak for yourself. You've got to, you know, embrace the trans, the transparency. Be fair, honest and openly discuss the both opportunities and potential risks. Okay, so say about what the risks are going to be, what your exit options are, what possibly, what you know, what possibly the risk might be and also like explore like obviously like the rewards. Everything has a risk and reward sort of, sort of rat clarity builds confidence. Make sure to deliver consistently. So like prove, so prove your commitment to protecting their investment through consistent performance and diligent, diligent management. This feels long term, this feels long term confidence. Now say what you're going to do if there's something an investor gave you and homework and say, could you come back to me? Yeah, in five days. If you can't come back in five days, look, just say, look, you know, I'm just a day late. Just be honest. Okay, so people, people appreciate that but always, always stay true to the game and just commit as you've said, if you can't then be honest about it and then you know. So basically the consistency is the key. You, the ultimate factor with these is you've got to be able to be like investable. So you've got to look investable, enable to be like investable. You've got to look investable, you've got to demonstrate you've got robust systems, you've got, you know what you're doing, you've done your DD and the processes, you've got proactive risk, proactive risk management. Show them that you're a safe pair of hands. The two questions that investors ask me is selling, how much money am I going to make? And how safe is my money? Okay, so going back to leveraging knowledge and time, if, if they can leverage your knowledge and time, and bear in mind is, some people might say the money is the most important thing here. No, it is actually knowledge because someone with knowledge is far more powerful than someone with money. Because, because any joint venture partner or, or any investor is in a safe pair of hands with someone who's been there, done that, and they bought the T shirt. They've got lots of deals behind them. They've got the system, the processes, experience. They, they also know how to structure the strategies. Okay, so that's that. The most common, like actually question asked at property events is, where do I find investors? Well, I answer that back with. With is where do investors find you? Okay, so going back to my slide, there was the.

No.

So are, are you exactly doing this? Are you on social media? Are you telling friends and family what you do? Are you telling people that, you know, like social gatherings or networking meetings what you're doing? So how can you find investors when they can't find you? Years and years ago, my mentor said to me, salim, there's going to be people that will be watching. They won't, like, they won't share and they won't, you know, and they won't comment, but certainly they are watching you. Just to give you an example, I just came off a podcast of if everyone, anyone here has heard of a nice guy in Birmingham called Saj, called Saj Hussein, okay? So I came off the podcast there. I had a person in LinkedIn who messaged me and said, salim, could we have a chat because I'd like to invest in you. So I spoke to him on the phone and he said, look, I've watched your podcast. On Saj's podcast, I've got 150,000 pound to deploy. I've seen you do deals and like, you work with investors. I'm not, I'm not interested in property, but I'd like to get just a good return, something better than Barclays or Lloyds are. Lloyds are going to offer me. And we had a zoom. I talked about some of the deals that I've done, some of these deals that I've done here, and he said, yes, when can I send you the money? I'm having investors pitch to me purely because of leveraging these, you know, key free things here and the know, like and trust method. I've been in property for 18 years now and over the past few years I've helped a lot of property investors on their journey. I've formed Isle of Wight's only property networking event. I call it the Best. It's, it's, it's the only one. But it's been amazing to help other people on their journey and my father used to say, salem, if you give, you get. And, and that. And that is exactly true. Helping others. I've been able to. To be gifted, to help others and it's really great to see people on their journey. Mainly it's mindset. But if you can master these three key things that I've said, the know like and trust method and going back to leveraging time, knowledge and money, then these are the six key things. These are the blueprints I've used. As if I'm going to sort of nearly end it here. I've. I've been a property investor for 18 years now and this is on my Facebook page by the way. Language is very key here. I'm short, I've just, I just keep it sweet. I just generate better returns for you. This is what my cover picture on Facebook is and if anyone would like to get in touch, you know, with me or how I can help, then please do.

Fantastic presentation. I suppose we've got lots and lots of value for that.

Shall I stop sharing or.

Yeah, I would say stop sharing. Put your details in the chat and we'll have a chat ourselves.

Let me just.

Whilst people are thinking they can ask their questions. So I've got a few questions and I think this presentation has come at a really applicable time for me because I'm currently looking for a current JV partner and I'm speaking to a few people and it's very important.

Yeah.

And I think where our community members are in the same boat, they're always looking for joint venture partners. So you've mentioned where you can meet them and stuff but what is it that you look for support in a joint venture partner? So I'm not talking about the three pillars, I'm talking about in terms of personality because for me I think there's a couple of things that are really important. Not obviously there's no like and trust you get on with them but your goals are also have to match as well because it could be they're in a growth stage, they want to grow really quickly whilst another person might be already has grown. They're almost the top of the game and in a Year or two they might be exiting their company. Yeah. So what advice would you give for our members in terms of that?

Okay, so the reason why I didn't go on with my slides was obviously I wanted like the community and this is exactly what I wanted to help and engage. And it's all about you to be asking those questions as well. So which is really people can get value from. What you need to be doing is your visions and values have to be aligned. Okay. It's not a quick fix, it's not an overnight fix but work on the know like and trust method as you've seen now your visions have to be aligned with going back to the leveraging the knowledge, time and money. So basically it's a triangle. You've got to establish your joint venture partner. What is, what is exactly they're bringing to the table and what is it am I bringing now? Most, most of the time it's me myself. I've got like 160k that's been locked in free properties. That doesn't stop me doing deals. The mega deal wasn't all money, you know, like funded by an investor. So your values and your visions have to be aligned there. What are they bringing to the table and what are you are. So what we're bringing is most common answer is going to be we're bringing the knowledge and the time and if they're bringing the funding, you need to kind of obviously build the know like and trust, get to know them and if your values and visions align what just to answer that question is like I said, one of my JV partners is a pharmacist. Okay. He doesn't have the time or the knowledge and he wants to quit the pharmacy trade in five year time. Now his pain points were when we met a couple of years ago was he'd like to build a portfolio and he'd like to be out in five years. But Salim, I've seen you doing stuff and we actually got to meet for quite a few times until he became my JV partner. And we thought the next step is you know, like basically ultimately to look for and become a JV partner. But he said to me, his words were you've got to establish what their pain points are. His pain points were selling I've got a five year term. I asked him what his goals and visions and what, you know, the things that I've covered just now and he said I want to leave in five years. I want you to build my portfolio, the funding is there, I want you to supply the time and the knowledge and you're really good at what you do. And I can supply the funding. And most joint ventures are like that. My joint venture partners are busy. They, they're working in daytime jobs, careers. They don't have the time and knowledge. They, they are not interested in that. They just want to build a property, someone, someone to do it for them.

Fantastic. And talking about JV partners as well. So my next couple of questions is how many JV partners do you have at once and if you have quite a few, how do you manage them all? So I don't mean just managing the projects, I mean managing the relationships as well.

Okay. So you know, it's, it's time blocking and you've got to basically dedicate and allocate time. Your JV partner is your investor. It's really, really important to keep them sort of updated throughout. Look, you need to sort of plan your tasks ahead and you need to allocate the time. So what I do is weekly catch up calls on a zoom sort of bi weekly. If I'm busy on holiday then we, I just leave like, like a WhatsApp message. I have my VAs that updates. My JV partners give them updates. I also do a screen sharing as an app called Loom that for the big project now that I, you know, update them where and when. So we speak on a fortnightly basis. So I have to allocate time there and there. So I've got, I think at the moment I've got four or five JV partners on the go. So it's really not a problem. You've just got a time block and allocate as and when updates come or build up the updates and give it on one weekly hit.

So you know, fantastic. And I think you've also mentioned about touch points and sometimes it takes about seven or eight touch points before you become JV partners and our community. I'm sure what happens is a lot of people go to networking events, they meet someone amazing in the first event and then they jump into bed as people say, she straight away. So what is your recommendation in building a relationship as a JV partner? You said about eight touch points. My also question is, do you ever have it where you say let's say let's meet for a coffee, let's talk about it. You chat and then you've got like a JV or investment document with you to discuss going through the points.

Okay, so I've got a funny way to compare to okay, a business relationship, a JV or an investor by the way, is no different than a personal re relationship. What I mean by that is if you have a boyfriend or girlfriend. Fiance or a husband and wife. Now at one point you met them for the first time. Now how would you like on your first date if Asif went down on his knee and he proposed to his first date, she would, she'd be like saying, whoa, you know, you're moving a bit too fast, you're a bit too eager, keen. I want to get to know you. Once I get to know you, as if I'll start to like you and once I start to like you, I trust you. This is no different business and personal, they share the same luck spectrum. Okay, so like I said, you've got to get to know them. Once you get to know them, what do you need to do like them. So yes, look, some of them could take free meetings, some of them have eight meetings. I've, I've had, oh like a three point touch. I've had even like an eight nine point touch. I've literally on my, on my biggest deal that I've landed so far, the 15 bed agem of the four bed townhouse. My JVM partner. My JV partner, he's just mad about curry and he wanted to take me out every time I met in London selling can we make and I've put an inch or two on my belly but if that means raising 250k as if it's not bad. So, so it just depends. Look, get to know them, ask what the challenges are and just kind of just to build up. It's really important to sort of build to, to build up the rapport. Some JV partners are a bit nervous. Very, very fine. They've only got to just meet you. Don't, don't really push yourself onto it. Get to know them like them. Time is a good healer, you know, within time. Some people just require more confidence. They want to get to know you more before they can commit to, you know, so it really doesn't take time but you need to follow that process, you know, get them to turn, you know you what things you need to do in order for them to know you, like you, trust you.

So fantastic. So that's where I've been going wrong in my dating life. Whenever I meet a girl I go down on one knee and propose to him straight away. So I'll make sure not to do that in the future.

Yeah, yeah, it's, it's just basically giving them time, you know, you know, in order for them to help you, you've got to help them take time, you know, and you know, I've, and a few people have nervous. They actually require time to maybe, you know, get to know you more till they feel comfortable. But once they are comfortable, it just rockets. It does not take time. Okay, so allow them time. It's, you know, you know, you could be dating for six months as if you could be dating for four months. So you, you'll get like the body language and the kind of, you know, feedback and, and you can, you know, and you can guess, you know.

Great point. So we're going to carry on talking about JVs because a couple of people have asked from our community. So the first question we've got is do you create a limited company for each JV you enter to and then what percentage return do you give your investors? On average? That's two. So that's one question.

Okay, so the way I do it is I have a holding company that sits above like the junior companies. Because if your JV partner is someone there, someone there. So you need to create the separate entities. Yes. All purchases are through like limited company. So they're your junior company. Holding company. My holding company sits on top and I have shares, so I don't, so I don't need to be company director. So my holding company has shares with JV1, Project JV2, Project JV3. The amount of shares, it just depends. Every now another, another thing that people don't understand is everything depends on the strength of the deal. If it's an all money out, the way I do it is after like refinance, you get your all money out, we go 50, 50 if there's some money left in. I have had investors, we're selling, could we go with 60, 40 or you know, if there's some money left in, could we have 70, 30. And then when I get my money out, which will be in eight, nine months time, you know, through the rents, then can we go to 50, 50? So it's all about agreeing those heads of terms before you go into the joint venture. Once you get to know like and trust, then you can talk about deals. The next, the next conversation should be, look, you know how, you know what, what would work for you? And it's really important to ask this. And a lot of people don't ask, so don't assume 50, 50, ask your JV investor. Go through the numbers and say, look, what would work for you? It's always about them. It's not about you. Okay? And then they'll get to appreciate that. So the numbers you can work on now, if they come back and say, no, this doesn't work for me, it doesn't mean it's, you know, the offer has fallen flat. Try to sort of re. Sort of be sort of like negotiate that and say, well, how about this? How about if we, you know, all it just, just take is just some fine tuning, tweaking.

Fantastic. I think the next couple of questions are kind of what we've just touched on and it was really interesting how you said you have like a holding company, then you have your different JV companies. So my question on that one is to do that you have to make a decision early on that you're going to have a holding company which can cost a little bit extra. Is that correct?

Yeah. So if you are looking at doing. I wouldn't start it earlier on because I started my property investing journey with JVs before, you know, it's only when you start doing a lot of JVs. So rather than being. You've got another admin task there rather than being a company director of 20 JVs and the holding company just makes it simple, it just has shares. So you have to go through articles association. Yes, yes, there is an extra admin cost. There's obviously you're going to have bookkeeping and the accountancy cost, you know, you know, company filing. But it only works is once you get a few JVs under your belt is it's just more easy. And there's also many good tax like tax benefits. You can extract money and your holding company can obviously extract funds from your junior company without any tax need to be paid because the parent company owns the junior company.

So on that as well. So if I was somebody, let's say who wanted to joint venture with yourself and you've got a holding company, would that put me off a little bit? Because if you've got a holding company above the company that we're going to do, does that mean you've got more power overall?

No. No. So it would be just the same as having the, you know, all, you know all it is is just shares. So another simplified word for it is shares. So just imagine if you and me were to do a property deal or any of our like attendees here today, this afternoon we'd open up a new company, SPV and my, you know, like subject to heads of terms, you know, what you're happy with and what is the deal here. So we would basically, so we would basically allocate a, A Shareholding structure, I would own. I, you know, I would own a percentage, whether it's 40, 60, 30, 20, whatever, you know.

Fantastic. So we've talked a bit more about JVs. We've got a question. What type of contracts do you use with JV slash investors.

JVs. Firstly, we have to agree, like basically initial heads of turns and then when we just have just a legal document that's just been drafted through solicitors, like, it's just basically replicates that there. And there are some JVS that, you know, we've just got basic heads of terms on like a word document. The main thing here is knowing, liking and trusting and people who you work with, really.

So.

You can have different memorandums, schedules. So it just depends, you know, you know, the articles association, whatnot.

So, but the head of terms that you've got as well, is it something that you would take to the solicitor or is it something that, because it's written on a piece of paper that is strong enough for any future disputes, for example.

Yeah, so everything is the outline. So it depends who you, you know, look, don't jump in, jump in bed, like you said with, with, you know, someone too quick. And another thing is as well, I was speaking at Brendan Quinn's event in London the other day and there. And someone made actually a good point in there's. I get pitch a lot of JVs and investment opportunities to come my way, but I'm now very in like a humble position. I can actually choose my investors. Just because there's investment there that, you know, they want to deploy money into your property deal. It does, it doesn't mean that, you know, you need to take the money because they could not be the right fit for you. Okay, we can pick and choose investors. There have been investors where you, you've agreed heads of terms, going to refinance, pay you back in month 12. They could be phoning you every day saying, when, when, oh, so when am I going to get my money back? Or, you know, hounding you. So just because someone's got funds doesn't mean you need to work with them. Your visions and values have to be aligned, put JV aside, even working on a loan basis, if it's not the right investor for you, then that, you know, problems can arise. But going back to agreements. Yeah, so what we do is sometimes some of my JV partners just basically require solicitor to put their stamp on there or, you know, have a read. Are you happy? There's no legal document as such, but it's something that we agree with before, but what we do do is obviously have the correct company structure, percentage owned, and the document just reflex bounces off that. Really brilliant.

So next question is, do you see more issues with lenders when a property company is owned by a holding company?

So you can hold. You can own a property company in a holding company, but I would advise against that. It's usually the SPV that owns it. Although a holding company is an spv, but the structure it should be for, it should have shares in other companies. I think I was speaking to my accountant, he's based in Birmingham as well. Ahmed. And Ahmed was saying, you can hold, you. You can hold properties in, you know, holding companies, but it's not advised, it's just. So this is quite a tax question. Always seek professional advice. Of course, it's more about a share holding kind of thing.

Yeah, brilliant. So, Abby, so is saying, I have two separate JV partners now, is this to have your type of structure in place or is it too early?

Sorry again, you were saying.

So effectively, the structure that you've got right now in terms of the holding company and the companies below in terms of jv, Abiso has got two JV partners at the moment. Is it time for him to create a company structure? Would you recommend that?

Yeah. So what I would say is, what does the future hold for you? I'm sure you want to obviously expand on your property portfolio and then if that is the case, and always seek the perfect tax advice first. But any, but. But any good savvy, you know, property accountant will say is, have you ever thought of, like, considered a holding company now going forward? So have a word with your tax advisor. But, you know, going forward, that would be the best route. It just basically creates less admin and less hassle and it's more kind of seamless, you know, structure. And, you know, this is what all the property and. And like all the property investors that are doing JVs will tell you as well.

Fantastic. So one of the things that you're really good at and it's come across really well and you've given a lot of value for our community members, is raising finance. And it's something that holds so many people probably in this room from getting to that next step, and you've mentioned how you do that or the type of people looking for investors and stuff. Is there anything that you've done, which is a bit out of the box, that has helped to raise finance? So what I mean, for example, one trick I was once told is, is if you Go and work into a co working space or you go to David Lloyd's for example, and you work in there, put a book out which says property. Because then people will stop you and start having conversations about property with you. And you develop relationships through that way if you got anything like that.

My property raising style is just basically off the back of just net networking and just social media and just be yourself with, with my JV partners and just with my investors. And do you know what is people think that they're going to be white collar, formal. You know, we just joke about just be yourself. That's, that's just all I can say. The most common trap and the most common myth people fall into is mindset is if you think you can, you can. If you think you can't, you can't. It's like saying if you walk into a Rolls Royce, you know, showroom and the first question you ask is after liking that car, you ask yourself is I can't afford that. You should be asking yourself how can I afford that? Everyone here is capable of something. Okay, you do have. Everyone here does have some sort of skill. But not many people want to get uncomfortable. Not many people want to go in front of people or do an elevator pitch. I used to suffer from stammer and I still do a little bit. I know it sounds weird, but I, I, you know, got myself uncomfortable. But people will see that in you. You know, just be yourself. In terms of unique, it's just basically when I. A golden nugget I can give you is when I go to networking events. You know, basically your, your agenda should be you're here to make money. And I'll be blunt with you as well. You're not here to talk about the weather or you know, football team. Obviously that's part of the process. But your basically agenda is I want to help solve problems with people and I want them to solve my problem. So what's my problem? My problem is I'm, you know, wanting to raise funds. I want to accelerate my property journey. But in order for them to help me, I have to help them. So, so, so you need to angle that and you need to have on the back of your mind is I'm here to make money. Like who can I connect with? Who can I like speak to? Who, who can I slowly build up the rapport with and just take it offline, you know, and, and just be yourself and with like, with, with like some of my investors. As I was saying, you'd think they'd be white Colored and shirt and tie. No, they, they laugh. They, they actually take the piss out of me. They just, they just, you know, like in joke about Indian food and curries and they don't actually look like investors. The worst dressed person in the room has the most money usually.

No, you're absolutely right. And talking about laughing and joking and you mentioned curry quite a few times. What is your favorite chutney? Because that is a big debate.

Is that a big debate? Yeah.

I personally think red onion, whilst quite a lot of people say mango and then a few of them say tomato. But I think, I don't know, I don't agree with that.

So everyone's different here. It, you know, depends on different taste buds. So what we do with our property networking event is we have a curry night after. So it's half six till nine, then we go for a curry night after because everyone likes curry. But it all depends on, you know, taste buds. So what might work for you might not work for them. So curry is very similar to property. It depends on what flavor you'd like. There's different investors with different flavors. So if you've got a sweet tooth. Mango chutney. Personally, me, I like onion chutney with mint and the, the tangy one which is the lime pickle.

Brilliant. Okay, so I think we're coming towards the end of the presentation. It's been a fantastic one. The question I always ask our, our guest is the big one is so how can you help our community members and how can our community members help you?

Shall I go first?

Go for it.

So look, it's been a pleasure. I just need to know, look, all of the people that attended like today for this, for this steel finders corner, thank you so much. It was really an honor to share my journey with you and I hope to help. I just want to get feedback or a hands up. If you, if you took something away from this today, if I've added value in some sort of way, I know my job is done.

Thumbs up, hands up, thumbs up. In the chat, lots and lots of raising hands. I think it's been super, super valuable.

Today and the next stage for me is I'm also helping other, I've been helping property investors and I'm launching something new in exactly how to raise finance. I'm going to be hand holding, supporting you and you know all the way is in how to raise investor funds. Really digging in, looking at your challenges, hand holding you, supporting you and having accountability. So if you did want to reach out to me, where's the chat box, if I can put it on there.

So the chat box is on the left hand side. Just put your details in there.

I'm just going to put it in there and then if you do want to reach out guys info at, then please do. I'll be more than happy to help you on your property journey.

Fantastic. And what about the people who watch this recording later? How do they connect it with you on Facebook? Instagram I assume. Just type your name in which is fully.

Yep, so it's Salimir. If you can't find me there, I've just put it on the chat box there. Info@islandpropertynetwork.com so I'm actually a property host myself on, on, on the Isle of W. Our email is there. Just, you know, reach out to me by email. If you do have WhatsApp, I'll put my number on here as well. And that's another good way. Just put the reference as you met me on the deal finders corner and that's the best way and I just look forward to helping you. So wherever you're in your journey, please don't be shy. If you don't ask, you don't get and I'm here to basically help and support you. And also Property Filter has been immense help for me as well. Guillerm and the property team and Asif we met last year and, and, and exactly like that. Since I met him last year at HMO Awards, we've actually exchanged numbers and we've talked on so many occasions bouncing ideas and this is what it's all about, you know.

Absolutely. I think they are brilliant, brilliant marks. I, for me personally, I think collaboration is the key and I think what you've mentioned today about leverage because we have got skills within ourselves but we need skills from other people and together, collectively we can do some great things. So I think on that and what you've mentioned, it's time to wrap the deal Finders Corner up. So thank you everyone for joining me.

Because property is a lonely journey. I think if you do it on your own it's very hard. But if we're here with someone holding our hand, whether it's investors, it's your skills and knowledge, if you can definitely accelerate, it's all about mindset, you know, I, you know, wish you all well. And over to you, Asif.

Fantastic, brilliant, Great way to end it. So who have we got next week? Well, next week by popular demand, we have the very smart Kevin Whelan who will take us through a Deep dive into the world of SAS pensions after three hours of SaaS strategies last week, we still weren't done. Your questions just kept coming in. So we've invited Kevin back for a relaxed, straight talking Q and a deep dive into untangling the tricky bits of SSAS pensions and give you the clear answers you can actually put into practice and ultimately get you more deals and get you the finance. But for now, all there's less to say is the usual visit propertyfilter.co.uk, log onto your Property Filter account, check out the deal blueprint, define your gold mine area, engage with motivated sellers, assess assess properties in seconds, load your pipeline and make deals, have an endless supply of deals, join the top 1% and become a high achiever deal finder. So that's me, as if from Property Filter. Looking forward to seeing you all again next week. But in the meantime, go grab them deals and we'll catch you very, very soon. Thanks again.

Bye.