Building Business Partnerships in the Property Sector
Creating lasting and valuable business partnerships is something our property mentors often talk about during our courses. It’s these relationships that form the solid foundation of many a successful property investment business.
To highlight the point, here’s the story of how Property Mastery Academy founders, Mark Lloyd and Jackie Reeves met. Mark and Jackie have been business partners for over twenty years, during which time they've built several successful businesses in a variety of market sectors.
How Mark and Jackie first met
Mark Lloyd was running a central heating company with his business partner, Andre. They had been trading for about six months when Andre was contacted by Jackie Reeves who represented a trade organisation along with her partner, also called Mark.
An appointment was made to meet but Andre, an excellent gas engineer, had to rearrange each time as he was in high demand. Eventually, when Jackie finally managed to tie him down, she couldn't make the appointment, so Mark came instead.
In the end, all four bounced ideas around, liked what the others were doing, and decided to start to work together. The four set up four companies over the next few years.
How a property business was formed
One day, Andre decided to leave the business to become an airline pilot. Jackie and the two Marks chose to sell the central heating company and wind down one of the other companies. Sadly, Jackie’s original partner, Mark, died of cancer a few years later.
In 2009/2010, Mark Lloyd and Jackie Reeves sold their last company. At the time, it seemed like they’d reached the end of the road as their companies were the one thing that held them together. But Mark asked Jackie if she wanted to continue working together, and the answer was a definite yes.
In October 2009, Mark and Jackie made a life-changing decision. After buying a property overseas and a buy-to-let in the UK, they decided to sell their existing business and become serious full-time property investors. Over the next 18 months, they focused on learning everything they could about property by attending training courses and investing heavily in their property education.
Look for complementary skills in your business partners
Mark and Jackie have now been in business together for 25 years – with lots of ups and downs along the way. Mark is the first to admit he’s not the best paperwork person – so that side of things often falls to Jackie.
While Mark researches potential sites and sniffs out interesting deals, Jackie’s there to back him up by drafting bids and handling complicated admin. Having a combination of skills in your partnership, and in your wider investment team, puts you in a strong position.
If Mark and Jackie’s story has inspired you, then it may be time to think about how you can forge new business partnerships.
In property investment, you’ll come across many different types of characters and personalities. Don’t be afraid to do business with people who aren’t like you – what you’re looking for is someone you have confidence in and with whom you can work harmoniously.
To find out more about Property Mastery Academy’s history and our diverse team of property mentors, visit our About Us page.
Want to learn more about property investment from our property mentors?
Look out for the next PMA Mentoring Programme; we’ll be running one in Jan/Feb 2018.
Our property investment strategies are designed to equip you with everything you need to get out there and make your mark in the world of property.
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