DANIEL LOMBARD could make a successful business that would not only stop being part of the problem , but could actually create viable solutions to the distressed owner that helps them keep their home or maximise proceeds where not possible . From the investor ’ s perspective , they have an opportunity to earn above average predetermined contractual returns by investing in property while helping someone to try to save their home .
This moment was the genesis of the Assist Group of Companies .
Lessons learnt
“ There were many tough challenges and expensive lessons along the way , especially in the beginning ” reflects Daniel . “ But nothing worth fighting for comes easy .”
“ Starting any new business is tough enough , so you can imagine the challenges when starting a new
business with a unique business model and philosophy . We were breaking new ground in the distressed real estate market and it required large capital investment , patience , faith and vasbyt to find equity investors to initially come on board .”
“ When you ’ re starting out , finding equity investors is probably one of the biggest challenges , so don ’ t be tempted to sign away 50 % for the price of 10 %. Getting the financial institutions to participate is even more difficult . They are all scared of the word , financial distress , and it takes lots of time and effort to convince them to even have a first meeting .”
Financial Courage Team
SA Real Estate Investor Magazine OCT 2022 17