As banks continue their reluctance to lend, SIPP holders are stepping in to secure high interest, helping businesses to expand with a new-found source of finance
Don't Miss The Informative And Amusing Video Towards The Bottom Of This Article
I Recently Attended A Property Meeting
One of the things I was interested to discover was who actually goes to these meetings. Is it property developers? Or is it property investors?
I didn’t have to wait long for my answer.
The first speaker opened with two statements.
He said: “If you’re a property developer with a project you can’t start because you need some money, put your hand up.” Roughly half the people in the room raised an arm.
He followed this with: “If you have money on which you’d like to make a good return by investing in property, put your hand up.” To my surprise, the other half of the people in the room raised an arm.
He said it happens at every meeting he attends. And he made the point that during the break, a lot of new business would get started if we speak with those people whose arms were down when ours were up. And visa versa.
It's All Due To The Power Of Networking
In any group of like-minded people, there’s often a perfect synergy. All you need to do is put your hand up and let other people in your network know what you’re looking for.
It happens all the time in SIPPclub.
People with money in their SIPPs looking to lend it in return for a good interest rate. Matched to individuals and businesses wanting to borrow money. Perhaps to expand their property portfolio. Or to take their business to the next level.
How to lend and borrow from a SIPP is explained on our Lend page.
Whilst SIPPclub might be able to make some useful introductions for you, there’s a much more efficient, effective and easier way to achieve this.
Within your own networks, there will be people who are looking for exactly what you have to offer. Modern technology makes it possible to identify them at the ‘click of a mouse’. That's because you’re part of networks all over the place. Consider these:
- Your business phone and email contacts
- Your personal mobile phone and email contacts
- Your social media networks, liked LinkedIn, Facebook and Twitter
The Most Relevant Social Media Network
It's likely to be the business-focused network - LinkedIn.
Whether you're looking to lend or borrow, LinkedIn could help. It automatically calculates how many people are connected to you, both directly and through people who know people you know. And if you join relevant interest groups, you could literally be a click away from millions of like-minded contacts.
It’s simple. Send them a message from within LinkedIn.
Like many things in life, it feels lovely to give.
There’s a fantastic example of giving in the video below from James Altucher
Choose Yourself: What James Altucher Can Teach You About Starting A Business
James Altucher is a hedge fund manager, serial entrepreneur and author. He reveals how, by giving ideas away, he created a business from nothing that he sold four months later for $10 million.
It’s a long, amusing and engaging video. It's well worth watching the whole thing, but if you don't have time and you want to cut to the chase, the main message starts at 9 minutes 50 seconds.
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AJ Bell Is Often The Best Value SIPP For Stockmarket Assets
Over time, charges can wipe out a huge part of your fund. We like AJ Bell because there are no set-up costs. If you hold passive funds, which is our preference, or shares, investment trusts, EFTs, gilts or bonds, you pay one small fixed fee no matter how large your fund. And when you come to draw your benefits either as occasional drawdown or UFPLS payments, there's a small charge for the whole year no matter how many times you access your money (many SIPP and SSAS providers charge more than this for each payment). However, you should always compare charges in detail, because AJ Bell could be more expensive than other providers, depending on the type of stockmarket assets you hold.
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As SIPPclub neither advises on, nor arranges, nor recommends specific investments or strategies, we're unable to say whether a SIPP or SSAS or any investment within it is right for you. Ultimately, it’s your money and your decision, and you should only proceed once you're satisfied you've undertaken sufficient due diligence. If you need advice, you should speak to your trusted adviser, or you could find a local adviser from Unbiased.co.uk. Alternatively, we'd be pleased to introduce to a suitably qualified independent financial adviser.
Please read our full Terms which includes criteria for SIPPclub membership.