Register your interest in Serviced Accommodation Discovery Day here, and a member of our team will get back to you to confirm your place at your preferred date.

 

 

In this podcast, we hear from Andrew Southwood of Culbone Finance, who helps small property businesses stretch their cash further, by providing the right finance, so they can grow their businesses and thrive. Andrew is a property investor and one of the few commercial lenders active in property networks. He comes highly recommended by Kevin as well as many other property entrepreneurs. This is a fantastic keynote full of ideas, concepts, tips and more!

 

KEY TAKEAWAYS

• As small businesses, we simply don’t have enough money to do all the things we want to do. Often, we don’t even have enough for the businesses to truly thrive. Andrew’s job is to stretch your cash as far as is possible to go. He can do that by offering you the right type of business finance.
• A lot of the wealth Andrew has today was created when he and his wife would buy ‘rubbish houses on good streets’ and flip them to make a profit. Andrew does some serviced accommodation himself but is primarily a property investor, not a landlord, so he has someone else manage his properties for him.
• Andrews background has always been in finance and banking, he has always lent money to small businesses so has a huge amount of knowledge of this area.
• Andrew goes to meetings and other places with a cheque book ready to lend small businesses money. He also works for lenders, so unusually working with him you have access to a lender and not a broker!
• Asking people what they think about money can give you a real insight into how their minds work and what it would be like to work with them. It’s really important we ask ourselves questions about what we believe.
• Different generations often have differing perspectives about money. Andrew was influenced by his Dad’s views as a pre-war baby and had to learn to get over the concept that ‘all debt is bad’ in order to create his property business.
• One way to invest is instead of using the money you would to buy the furniture you can afford with cash, you can use finance. You can use Andrew’s money instead of your own. You could even go into a lease option for furniture, you can get the items immediately and there are tax benefits. You can then buy a higher standard of equipment and furniture meaning you will get a better standard of customers and ultimately more profit.
• You should never need to pay a broker money, they will get paid by the lender.
• Only use brokers that are FCA regulated. If they aren’t you have zero protection if anything goes wrong with them. A non-regulated broker also have a lot less finance options for you as many won’t work with those who are unregulated.
• Andrew always tries to give his service accommodation customers the best that he can. He puts a lot of thought into his accommodation, it isn’t just white walls and basic furniture. It means he gets a lot of repeat business, particularly with contractors.
• One of the benefits of Andrew being a lender and not a broker is that he has dedicated money, so the lenders he works for have given him specific ‘chunks of money’ explicitly for furniture financing for example. Many lenders don’t want to lend money for this as it depreciates massively in value, so, it will be one of the first products ‘to go’.
• Rent to rent is considered a high risk for lenders which is reflected in payment terms, however Andrew works with those that do lend on this strategy and because they allow him to ‘twist’ and ‘change’ money he can stretch payment terms for the small business owner.
• Even if you only need a little bit of money Andrew can help. He can easily and simply lend you small amounts of money with just a personal/directors guarantee as security.

 

BEST MOMENTS

“An awful lot of things that should definitely get you interested”

 

“You can grow your business stronger and faster so that you can thrive”

 

“I’ve been doing this for a long time, I’ve been running a small business for many, many years. I understand how finance works in business and my job is to try and make small business finance easy to understand and simple”

 

“Who we are as people has a lot of impact on how we think about money”

 

“I’m not going to use jargon at you, I will explain things to you in the simplest terms”

 

“When you are considering how to finance your business, don’t just think about mortgages”

 

VALUABLE RESOURCES

The Serviced Accommodation Property Podcast

https://propertysoldier.co.uk/

Rich Dad, Poor Dad by Robert T Kiyosaki

Serviced Accommodation Success by Kevin Poneskis

 

ABOUT THE GUEST

Andrew Southwood

Small businesses rarely have enough money to succeed and finding finance can be overwhelming and confusing. Andrew Southwood of Culbone Finance helps small property businesses stretch their cash further, by providing the right finance, so they can grow their businesses and thrive

Andrew is a property investor and one of the few commercial lenders active in property networks.

He has more than 35 years experience of lending to small business as well as running a business himself

Andrew believes all small businesses with a good idea should have the opportunity to thrive

He is passionate about making small business finance, simple

Contact Andrew at:

Email - [email protected]

Phone - 07774 267121

Web - www.culbonefinance.co.uk

ABOUT THE HOST

Your host Kevin Poneskis enjoys public speaking, travelling, exercising, and keeping fit. He also enjoys working with a charity called STOLL which provides accommodation and training for homeless veterans.

 

Kevin was in the British Army serving 24 years, mostly in a Commando unit and retired at the rank of Regimental Sergeant Major. He left the Army in 2011 and became a full-time property investor. During most of his Army career, Kevin was investing in property and has been a property investor now for over 27 years.

 

CONTACT METHOD

https://en-gb.facebook.com/propertysoldier/

[email protected]