#017 What Does Success Look Like for You?

Welcome to Raising Angel (Alternate) Funding. What does success look like for you? Join Ray Mclennan discussing wealth hacks including pension transfer values, capital gains tax, stamp duty, which questions to ask investors, mind-set, training and strategy. KEY TAKEAWAYS Capital Gains Tax. Buy something, sell it, make an uplift and pay tax on it. You pay tax on everything else, now you've got to pay tax on the uplift. Wouldn't it be nice to to pay that tax...? Wouldn't it be useful? Stamp Duty. In England and Wales this is one thing. In Scotland it's called land and buildings transaction tax. LBTT. It's even higher there. If you're buying a commercial property, the stamp duty can be eye-watering at times. It used to be a price you pay to get your document stamped. Literally £50-100. Then they started to make it a percentage of the property. In 2004, stamp duty went up by 400% virtually overnight. Wouldn't it be nice, not to pay stamp duty...? Fees. Usually a project such as a commercial conversion, the total fees (everything included) usually work out to 7%. To broker a deal, the fee can be 4%, 3%, 2%, 1%, depending on the size of the deal.  Find out the summary we use to send to investors. We take your application and translate it onto one page. When an investor looks at this, imagine he's walking down the street, in between meetings, his phone goes and he takes it out. What is it? It's an email from Ray with a commercial conversion opportunity in Newcastle for, whatever. It has to be accessible here, there's a red button and a green button. Red for not interested, green for interested. We share a little bit more information to a shortlist of interested investors, then we ask for some kind of commitment before we share any further information.  Global Financial Freedom. Would it be nice to earn a fee for referring somebody to an investor? Does it have to be your own money? 99.999% of the time you'll be using somebody else's money, does it make sense that you learn how to use that money properly? VALUABLE RESOURCES Ray’s Blog Raising Angel Finance’s Blog Ray’s Twitter The Skill Stack Podcast - Ray McLennan Serviced Accommodation Podcast Freakonomics Podcast There's No such Thing as a Fish Podcast ABOUT THE HOST Ray McLennan is a keynote public speaker and former corporate solicitor who has many years of experience owning and operating a variety of businesses in the UK and Ireland. Ray is the Regional Manager for Scotland & Ireland for Angels Den, which has over 13,500 high net worth Angel investors that help to find funding for property and SME businesses. Ray also helped to create Property Angels Den (PAD) in Sept 2014, which matches High Net Worth Investors with property proposals of all sizes. PAD now meets regularly and has funded dozens of property projects all over the UK.