I am continuing my special series of discussions during the COVID19 pandemic, this time we are talking with Dan Holden from Holden Capital about all things finance and capital in times of uncertainty. During dynamic, volatile periods it is common for fear to take hold and cloud our vision of the future. It is often made more challenging when people and organizations around you are withdrawing capital or pausing to take stock. However, it is important to work through the fear, tackle the issue and get yourself set for future success. In this conversation we cover: 1. What property developers should they be doing to get their finance sorted. Use the down time to making themselves ready/bankable by having a business plan that:  - sets out their historical credentials, skills and ability to deliver - financial capacity through their assets and liabilities, and cashflow - how they intend to manage their business over the coming months and years Don’t do it alone. Talk to your advisors, accountant can help if they are a good one, or us as finance broker can add lots of value beyond just getting a good price on debt pieces. 2. Can you still get money to finance your property development project? Definitely but it’s a very different landscape with less players, lenders are holding their capital back and new ones filling the gap. 3. How have the finance/lending markets reacted? We have 160 lenders on our panel, I would put them into 2 categories; 1. many have temporarily closed, preferring to see how bad the economy is going to be hurt before lending more. 2. some have decided to keep lending but at lower gearing and risk, and some have put in place higher pricing 4. Should you delay applying for property development project funding? Not if you have a sound deal, understand your capabilities and accept that the cost of funding has shifted for now. Expand on risk return and impact of waiting or going ahead. 5. Should you be buying development sites? Same as above, need to understand your market, likely timing of events, have the ability to sit and wait but then be ready to deliver on the financiers requirements per 1. 6. What is something you have learnt in the past few weeks in response to what has been happening? - Not always the lenders that you expect to stand up when it gets tough - A lot of time waster financial offers emerging requiring careful due diligence to avoid disappointment - Developers are remaining positive and generally looking to be ready when the market re-opens 7. Any books, movies, shows you are recommending to people - Holden Capital's Constructive Finance podcast - we recently did a series on different loan products and how to best use them in your business to repatriate an recycle capital - Book: Profit First by Mike Michalewiscz – getting your business cash flow, being the way your money flows in an out of your business. Cash is king, cash is oxygen, few people finding that out the hard way in tough economic times - Book: Barefoot Investor by Scott Pape. Links - Holden Capital - www.holdencapital.com.au