The Path to Church Property Ownership

The Business of Church

About the Guest(s):

Alex Dawson is the founder and director of Alex Martin Commercial, a company established in 2010 that specialises in supporting faith-based groups to secure and acquire church buildings. With over 15-20 years of experience in the property market, Alex has become a prominent figure in the church property sector, especially within the Greater London area.

Pastor Priscilla Asibey is an investment analyst with a proficient background in portfolio and fund management, financial analysis and modeling, mergers and acquisitions, and real estate projects. She is the deputy head of the Treasury Operations Department at Ghana International Bank. Alongside her professional career, she is also closely involved in the International Gospel of Truth Church (IGTC UK) as pastor Sylvester Apoku Manu's wife, who has been in ministry for more than 17 years.

Episode Summary:

In this riveting episode of the Business of Church podcast, hosts Des Stewart and Cory Belfon welcome Alex Dawson and Pastor Priscilla Asibey to discuss the complexities and triumphs of acquiring a church building. The conversation delves into the tenacity and faith required to navigate the property market and the strategic planning that led to the purchase of a building for the International Gospel of Truth Church.

The journey opens with Pastor Priscilla sharing the arduous process of relocating the church multiple times due to change of use requirements and escalating rental expenses. The discussion sheds light on the church's relentless pursuit of securing a permanent home and the substantial financial and personal sacrifices made to achieve this goal. Alex Dawson weighs in as an agent from the property sector, providing candid realism and advice to faith organisations on the cut-throat arena of commercial real estate, especially within London.

• The episode zeroes in on the importance of financial readiness and having a robust business strategy in addition to spiritual conviction.
• Alex discusses the challenges churches face within the property market, notably the high demand versus limited supply of suitably classified buildings.
• Pastor Priscilla's account is a testament to the rewards of daring faith coupled with sound financial management and planning.
• The contrast between the need for being commercially savvy and reliance on divine intervention is thoughtfully explored.
• Strategies for long-term financial planning and securing sufficient funds for property acquisition are addressed.

Key Takeaways:

• Transparency, strategic long-term planning, and the readiness to make personal sacrifices are crucial for securing a church building.
• Commercial mortgages for church properties often require a deposit exceeding the standard 30% due to market competition.
• It's vital to be on the property ladder to ensure growth and legacy for the church community.
• Trusting relationships and clear communication with agents and financial institutions can significantly influence the outcome of property acquisitions.
• Faith-based organisations must balance spiritual beliefs with pragmatic and informed financial decisions.

Notable Quotes:

1. "The only way a church ever gets on the property ladder is with a story like this, bouncing from building to building..." - Alex Dawson
2. "You need to be sat with your bank manager or your financial broker and be able to press the button." - Alex Dawson
3. "You've got to get on the ladder and they, their ego, their pride doesn't allow it... create the foundation." - Alex Dawson

Resources:

• Alex Martin Commercial: Website
• International Gospel of Truth Church (IGTC UK) information: Website
• Good to Give: Website

Tune in to the full episode to immerse yourself in the engaging conversation featuring Alex Dawson and Pastor Priscilla Asibey. Learn from their experiences,