Over £500,000 of Joint Venture Finance raised + Numerous Property Deals with Emerald Fisk
The Property Nomads Podcast · Rob Smallbone & Aaron Devoy
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Show Notes
AN INTERVIEW WITH EMERALD FISK – FOUNDER OF THE ONLINE LANDLORD
In this latest edition of their fascinating mini-series devoted to successful people in property investment, Rob meets Emerald Fisk, co-director of Prospects Property. Emerald’s impressive biography includes having raised over half a million pounds in joint venture finance and is currently the head of a property empire that includes Buy-To-Lets, Serviced Accommodation, mixed-use properties and a number of flips.
In this exclusive interview, Emerald talks about her outlook on investment, the strategies that have made her so successful, and her hopes and ambitions for the future.
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KEY TAKEAWAYS
- Emerald discovered her way into property investment through the medium of podcasts. By hearing other people’s stories, and heeding the advice of successful and experienced people, Emerald began attending events where she received the help and the push she needed to enter the industry.
- Emerald has found that having a solid support network and a skilled power team behind her, has made the acquisition process, as well as the management of her properties, much simpler and far more efficient.
- Emerald is not a fan of development projects - After having spent a lot of time developing a land deal, Emerald has come to the conclusion that these types of deals are not for her. They are too slow to work through, the risks are too high, and too much time is spent in meetings.
- Venture capital was gained by building a solid network of contacts. Emerald believes that it is important to constantly be on the lookout for investors rather than waiting until finance has run out, as many do. Emerald’s viewpoint is that it’s always wise to keep potential investors informed and “warmed up”, meaning that if an opportunity arises, she can instantly inform her network and gain finance quickly.
- Having a solid plan is far more attractive to investors. Many enter the industry without having a clear plan, which can put investors off.
- Emerald’s ideal investment is a small family buy-to-let property, which she says, she can rent out all day long, such is the demand, especially in areas that may be a little more deprived than others.
- Having two exit strategies for a flip property is essential - Emerald always tries to sell first, but if there is no interest, then she is equally happy to rent out the property. This is a valuable safeguard against any negative market trends.
- At the beginning, it’s not unusual to spend all your time and energy chasing deals and investors. But as your experience and your contacts grow, you can afford to be more selective.
- Emerald sees the value in sourcing deals for investors as a means to sustain liquidity. Sometimes the property itself may be a project that will require more time than you have available. In these cases, it may be best to simply hand the deal off and take a fee for doing so.
- Emerald is definitely of the opinion that a healthy portfolio is far more valuable than an expansive one. Her vision for the future centres around accumulating a workable bank of properties that bring in healthy returns instead of trying to take over the world.
- All you ever need is one deal and one investor. Take your time. One deal every six months is quite enough to build a stable, successful portfolio that could provide you with a healthy income for rest of your life. Be patient and build as quickly as your life allows. Build solid contacts and develop successful relationships.
BEST MOMENTS
‘It’s not necessarily about the number of properties you have. It’s also about the quality’
‘Property journeys go up and down’
‘Stick me on a building site rather than fluffing cushions’
‘No one’s going to lend you money if you don’t have a clear plan’
‘The clear strategy is what enabled me to gain more venture finance’
‘I’m a lifestyle person. I want to enjoy the work I do’
‘If you do everything under an ethical umbrella, there’s really no wrong way of doing things’
‘When you’re building something big, you have to start with foundations. And people can’t always see the foundations’
VALUABLE RESOURCES
The Property Nomads Podcast
ABOUT THE GUEST
Emerald Fisk is co-director of Prospects Property, with Sarah. Emerald has raised over £500,000 of JV finance and has another £200,000 in the pipeline. Emerald explains how and why this has been achieved and how running around like a headless chicken really isn’t a good strategy in the long run.
Emerald currently has 5 BTL's, 1 Lease Option (land and we are looking at a planning gain), seven SA units, but they will be gone by the end of 2019, two flips in the pipeline and two mixed used buildings. Emerald is currently sourcing deals in South Wales and wants to expand her Buy To Let portfolio there too along with undertaking various projects (specifically blocks of flats) in the Gloucester area.
ABOUT THE HOST
Rob Smallbone and Matt McSherry, the hosts of The Property Nomads Podcast, are on a global mission to guide your success. Success can happen in many ways, shapes and forms. Think about what success means to you. More properties? More clients? Financial freedom? Time freedom?
Rob & Matt are just two guys who want to make a huge difference to people around the world. They are here to guide your success in property, business and life and to inspire you to achieve your goals, dreams and visions. They’ve travelled, explored, and invested. And they’re not planning on stopping these activities anytime soon.
Buckle up, sit tight and enjoy the ride that is life.
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