the point of obsession and ignore the noise . Many people will try to dissuade you from starting to invest in anything because of the risk associated with any type of investment . Most of them will be close friends and family and most times they will be discouraging you out of love and concern for your financial stability .
However , no-one ever made any real money without taking real risk . Remember , the greater the risk the greater the reward . Walk your own path and do not be deterred .
10
Take Action and START
Procrastination has been the death of many a business idea . the longer you wait the more expensive property will become . The best time to start in property investing was 10 years ago ... the secondbest time is NOW .
It won ’ t be easy , but it will be worth it in the end .
SOURCES EDPF
NIGEL ADRIAANSE Chief Executive Officer - Enterprise Development Property Fund ( EDPF ), an IMPACT Fund with a mission to empower black entrepreneurs who wish to enter the property sector .
SA Real Estate Investor Magazine FEBRUARY 2021 25
Building your
UK Power Team
How to safely invest in offshore real estate
when you’re stuck in SA
PART 9
I
n the eighth article in this series, we gave
you some basic ideas on how to raise
capital for your property investment
deals. We also explored how you can
legally move money from South Africa
to the UK. In this article, we take a closer
look at how to identify the professional
and ‘on the ground’ teams you will need
to establish to invest in UK property from
South Africa.
In business, it is said that a smart man
surrounds himself with people who are
smarter than him in various technical
areas. This is especially true when it
comes to property investment. With the
world becoming a smaller place thanks to
technology, it is now possible to live in one
country and invest in another. Students
enrolled in our FastTrack programme
have been able to purchase property
throughout the pandemic without having
to visit the UK – however, it is almost
impossible to do this without having an
exemplary, trustworthy team working for
you, allowing your property investment
business to function efficiently.
Sean Thomson, property investment coach at Wealth
Trek, provides some guidance on building your property
investment power team in the United Kingdom.
52
FEBRUARY 2021 SA Real Estate Investor Magazine
My experience has shown that building
a trustworthy team comes down to being
able to ask the right questions or having
a reliable source recommend someone
knowledgeable. We do much the same
thing through our programme, leveraging
my knowledge and experience and
bringing trusted service providers to the
table.
Who should be on
your professional team?
Mentor
For me, a mentor is the most important
cog in the wheel. A good mentor must
be active in the field you are wanting to
get involved in. They should be happy to
bring a vetted team to the table to help
you achieve your goals.
Solicitor
It’s important to have a solicitor who can
act on your behalf and undertake all the
legal due diligence required regarding
your property purchases. When you are
purchasing in a foreign country, where
tricky areas require expert navigation, a
solicitor who is a property specialist can
help to ensure that you are protected,
now and in the future.
Finance broker
An independent broker who can source
bespoke funding exclusively for foreign
national or expat investors is key. Getting
funding is tricky – it’s not as easy as calling
up a High Street bank. Our students are
able to obtain finance in the UK without
being residents. This is crucially important
when you want to leverage and build a
portfolio (rather than just purchase one or
two properties).
Accountant
An accountant can assist with the set-
up of a structure and will ensure that
your UK property business runs as tax
efficiently as possible, given your status
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