In this episode, Jonathan and Kieron delve into the topic of joint ventures (JVs) versus traditional investment routes for property development. They discuss the nuances of JVs, highlighting the importance of collaboration, shared responsibilities, and the need for clear agreements to ensure successful partnerships. They also touch on their own personal experiences, the significance of networking, and the value of open communication in maintaining strong relationships with investors. KEY TAKEAWAYS A joint venture involves a partnership where both parties contribute resources, such as money or expertise, and share the risks and rewards of a project, unlike traditional investors who simply provide funding. Establishing clear roles and responsibilities at the outset of a joint venture is crucial to avoid misunderstandings and ensure that both parties know what is expected of them. Maintaining open and transparent communication with partners and investors is essential, especially when challenges arise. Regular updates and honest discussions help build trust and strengthen relationships. Having formal legal agreements in place is vital to protect both parties in a joint venture. These agreements should outline profit-sharing, responsibilities, and exit strategies in case things do not go as planned. Engaging in networking events and collaborating with others in the industry can lead to valuable partnerships and opportunities for growth, as sharing experiences and knowledge can enhance the success of property development projects. BEST MOMENTS "A joint venture is where they're coming on board as a business partner involved in the deal. They'll be taking on a lot of the risks with you rather than just giving you money and letting you do your own thing." "I think early doors you need to lay down the rules of that partnership and be very clear as to who's doing what, what the duties of running that business are." "You don't want to both be having a conversation with a lender, because that's just confusing. You want to be copied in, but you don't want to be. Somebody needs to drive that." "If you're doing a joint venture, you need to find someone who's got both experience or at least new build experience." "Don't just rely on a handshake. I think those days are long and truly gone." HOST BIOS Jonathan is a property developer and entrepreneur with a background in finance and construction. Originally from South Africa, he holds degrees in Accounting and Auditing and relocated to England in 2003. He gained financial and operational experience at firms such as RSM, Prudential, and Baker Tilly before transitioning into property. Since 2014, Jonathan has managed major commercial-to-residential conversions and new build developments, particularly across the South West. His analytical mindset and on-the-ground experience help listeners navigate the property world with confidence. Kieron is a construction expert and entrepreneur with over 20 years of industry experience. Starting as a mason, he went on to found Shepherd Construction in 2012, delivering projects across both the public and private sectors. From extensions to luxury new builds, Kieron has earned a reputation for quality, precision, and strong leadership. As Managing Director, he’s involved in every stage—from design to delivery—offering a no-nonsense, deeply practical perspective to anyone looking to build with success. https://www.facebook.com/jonathan.stobbs.7/ https://www.linkedin.com/in/jonathanstobbs/ https://www.facebook.com/kieron.shepherd.73 https://www.linkedin.com/in/kieron-shepherd-83b979aa/