I SAID 3. WE HAVE 3.

In my last newsletter, I wrote about the chaos that had taken over Project One.

We’d fired most of the team.

Ripped work back out.

Rebuilt it.

And I’d somehow appointed myself as a joiner in the process.

I finished that newsletter saying:

“Project Three might be a little bigger than expected.”

Well…

Things have changed slightly since then.

We didn't buy the portfolio.

But we did buy another house.

Which, considering Project One has gone over budget, was obviously the sensible thing to do.

Yes, Camm Street has gone over budget.

But the trick with property is buying well.

We walk away from a lot of deals simply because there isn't enough profit in them to cover us when things go wrong.

Because things will go wrong.

That's why I love property.

If you buy well, almost every problem can be solved with either time or money.

Camm Street has needed a little more of both than planned..

But it's exposed the teething problems in scaling, taught us a hell of a lot and made us better for the next one.

And even though we've gone over budget, we're still expecting to make a pretty healthy profit.

And finally…

Decorators are finished.

Carpets Wednesday.

Photos Friday.

& As promised, its will be on the market Monday.

Meanwhile, we've bought another project…

Almost Project Three time…

But let me tell you about Project Two first… (Saying that is pretty cool, by the way.)

Well…

Considering the same team was working across both projects, this one hasn't exactly been straightforward either.

But this time, we caught the problems before we got too far down the line.

SEE. I'm learning.

The biggest lesson from Project One was making my site visits intentional.

I'm not there to be everyone's friend. I'm there to make sure things are getting done to the standard we expect.

Since setting myself that rule, I've spotted three problems in the last week alone.

All three were rectified the same day, before they became much bigger problems during second fix.

Progress.

We now have two floors almost fully boarded and skimming starts towards the back end of this week.

Which leads me nicely onto…

Project Three.

I’m not actually going to tell you what Project Three is yet..

Instead, I want to talk about something I think is pretty cool.

We're finally getting Asset Collective into a position where we can actually scale.

Right now:

Project One is about to hit the market.

Project Two is being boarded ready for skimming.

Project Three is in conveyancing.

The challenge now?

Cash flow.

We need to finish funding Project Two while purchasing Project Three, with the majority of our capital still tied up in Projects One and Two.

BUT THIS IS THE COOL BIT.

If we can get Project Three funded, when the capital comes back out of Project One, we can use it to buy Project Four - with the profit helping fund the refurbishment.

Then we do the same when the capital comes back from Project Two and move into Project Five.

And suddenly we're not starting from scratch every time we finish a house.

The capital starts recycling.

One project funds the next.

Then the next.

Then the next.

And that's the point where this starts becoming less about doing individual property deals…

and more about building a real business.

Investor update

First of all, to our current investors - thank you.

You've helped us get Asset Collective off the ground and into the position we're in today, and I genuinely look forward to working with you all over the next few years.

Now we're ready for the next stage.

We're looking to raise another £100,000 of private investment to help us keep the projects moving and continue scaling.

And I genuinely think what we've built is a pretty compelling offering.

Our returns can be up to 3x what you'd currently get from a high-interest savings account, with one big difference:

You can actually see where your money is going.

Come to the projects.

Walk around them.

See the work happening.

Touch and feel what your investment is helping us build.

If you're interested in being part of what we're building:

Reply to this email and come and see it for yourself.

🗓️ Upcoming Deadlines

Did You Know?
Leaving your money in the bank right now is likely earning you less than inflation, meaning your cash is actually losing value over time.

Till next time,