When I first started out on my property investing journey you may or may not know that I didn’t have any money. I was told on a course that raising money was easy, and that if you find the deal then the money will come. Well, I had deals but still no money! I did what everyone told me to do, I spoke to family, and they were all skint too. I created an investor document and gave it ‘indirectly’ to the one person I knew that had money so that it didn’t look like I was asking. He was a bloke who lived on the street who had his own business and drove a Porche. He ghosted me too. I was out of options as my friends didn’t have any money either.
So, I was finding it extremely difficult. I’d put everything on credit cards and I was all maxed out.
I’d been taught that I could do a refurb for 15k, however, I soon found that things cost a lot more than what I had been told. This took me back to square one, skint, unable to finish my refurb, but this time without credit cards to fall back on. I’d maxed everything and was struggling to make all the payments.
I needed £4000 to get things finished. I asked absolutely everyone I knew if they wanted to get involved and get more interest than the banks etc, but everyone said no.
I was desperate. The only guy who said he would give it to me, did so on the basis that I would join a Ponzi Crypto scheme with him and he’d give me the money to put into that. He wanted an eye watering amount of interest as well as the grand he lent me to put into the scheme paying back too. My gut screamed at me not to do it, however, without the house being finished I couldn’t get a tenant in or refinance to get my money back. Added to this I had all the credit cards, mortgage and insurance which I just couldn’t keep paying for. I was struggling to survive with it all and it was crippling.
So, I took the money, finished the house, got all my money back out and paid that guy back the extortionate interest. At last I was able to eat something other than beans on toast again and I could move onto the next.
Why am I telling you this? Because I was the person who couldn’t raise money. It seemed easy for others but not me. I was envious even seeing people raise money and doing cool stuff and I was struggling. How bad is it that the only person in the world who would lend me money was some guy who just wanted me to get into a dodgy scam with him?! This was literally the only option I had which is quite depressing when you think about it! Lol.
However, the figures still worked despite getting the hefty interest and because it got me what I wanted, I was prepared to do it.
If you’re stuck thinking no one will ever give you money, I’ve been there too. But since then I’ve gone on to raise well over a million pounds in the last 12 months so there is hope for you too!
Instead of being a victim and complaining that no one would give me any money, thinking that I would never be able to do this, I just cracked on. I didn’t tell myself any BS stories, you know the ones people keep telling themselves? Like it’s OK for them because of this or they have made it work because they had money. Stop it. Just stop it. This does nothing to serve you whatsoever, and just keeps you stuck in this negative place where it’s never going to happen.
Naively I thought that I would do a course and everyone would throw money at me. This only works for strippers (minus the course).
Nobody threw money at me unfortunately (shock). Looking back on it now it was obvious. I didn’t know what I was doing, I didn’t have any credibility, or influence- I wasn’t popular on social media or anything. Would you hand over your cash to someone like that?
Like with everything in this business, it’s based on relationships and trust, and this takes time people (well it does if you’re starting from 0). I was patient and kept at it because I was desperate to change my life. It took me 2 full years for someone to actually give me money. I thought I had won the lottery! It felt amazing!! But none of it has happened by luck. It took a lot of hard work, determination, and keeping going when I wasn’t seeing any results.
But if you’re sat there thinking this doesn’t work and you can’t raise money, you’ve just got to keep going and keep getting better, plus I can show you how… <3
Lynsey Toft