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Balancing Financial Viability with Social Responsibility

Sparking the debate at LandlordZONE

Commercial Acceptances lends to ‘View From My Window’ enabling the next generation of developers

Commercial Acceptances (CA), one of the UK’s leading providers of short-term property bridging finance, and part of the FTSE 250 Close Brothers Group plc, has agreed funding to Lorraine Thomas and her company View From My Window (VFMW) to assist a collective of young developers with their maiden residential development project – a dilapidated four bedroom property in Croydon, South London. ….read full lender article

The loan of £325,000, including a £50,000 build fund was agreed with CA’s existing client, Lorraine Thomas acting as joint borrower and guarantor. It enabled the young developers (Shelley Ann-Meade, Melvin Appleford, and Rochelle Cox) to begin their first project with VFMW, who renovate and restore existing properties, before selling or renting them on the private market

NEWS UPDATE Fab Collab is buzzing! 

Auction Day

AUCTION DAY TODAY! No matter how experienced you are the run up to Auction is scarey and I guess exciting at the same time.

Why the stress – because it is SO unpredictable. Fact!

I do practise what I preach – prepare, prepare, prepare and do all of these things as a basic measure:

🏡 Visit the property (twice)

📚 Read the legal pack thoroughly (especially the Special Conditions of sale and the Addendum)

👩🏽‍⚖️ Instruct my solicitor to read the legal pack

🏦 Line up the finance / at least get Terms from a broker or direct from a preferred lender

🧱Have a Plan B and C – Have more than one Lot prepared that could be a viable option

👷🏽‍♀️ Have an available builder/team in mind. Someone who is going to be able to jump on the work immediately and not in three months time.

However until you enter the room (online or in person) you cannot predict how the day will pan out because the buyers you are up against don’t declare their hand until the bidding starts.
It’s not yours until that gavel goes down.

Buyers in the room with strong motivations for purchase (other than just portfolio building) means that some Lots rapidly become out of bounds and you don’t stand a chance.

Motivations such as purchasing because they want to live in it for a nearby good school or
they own the properties either side and they want to go for planning etc etc. These MUST HAVE buyers will always trump NICE TO HAVE buyers who don’t have the same conviction.

No matter how well organised you are these buyers will be prepared to break the ceiling price and pay way over what the property may actually be worth because of their motivation.

That said sometimes you enter a room and the buyers are just not there. That can also be scary because now you start wondering why!?! A whole other story.

Wish me luck!

#property #motivation #auctions


Today I’m taking part in #BoostYourBrandIntropost by Aarti Parmar – Brand Strategist to help people get a better insight into me and what you can expect if you follow or connect with me. Feel free to join in.

Aarti’s four questions are:

1. What can people expect to read about in my feed?

Here on LI I post on a Wednesday (ok ok – I’ll do better) about Property Property and more Property (if I’m not moaning about the broken Planning Regime or bad auction choices).

🏠 Property 1 : Mentoring. Property is a lonely place and a good mentor is worth their weight in gold to help navigate the pitfalls and challenges of this complexed landscape.

🏠 Property 2 : Development and construction. Building ground up. The journey/the cost/the joy/the stress

🏠 Property 3 : Investment. Being a socially conscious landlord and renting to those who are disadvantaged and don’t tick all the boxes. #

And that’s just the beginning.

I also write about my passions. Racism/Equality and young people today. I would like to feel that before my lights go out I would have contributed in some small way to creating a more balanced society where young people have a chance to get on to the property ladder and the colour of your skin does not hold you back from your path.

2. What type of clients do I most love working with?

✅Those READY to go in property. Ie those who have some form of investment (small is ok); understand risk and want to learn, earn and eventually own.

✅I also love to work with/rent to disadvantaged tenants who turn their lives around through having a roof over their head and step into greatness.

3. Which part of the world am I posting from?

I am posting from South London. Close to my property patch in Croydon.

4. Something that’s on my bucket list to do, be or have?

🏝Dream travel destinations include Mustique in the Caribbean and Necker Island in the British Virgin Islands.

👩🏽‍🏫 I’ve been honoured to be invited to preach, 3 times now and want to explore that calling deeper.

🗣 Some day pull off a show stopping TEDTalk.

Time Out – I’m dropping the 🎤🙌🏾

#BoostYourBrandIntroPost #propertymentor #propertydevelopment #challenge