In this episode of the Elevate Podcast, Ryan Castle talks with John Bolton (JB), founder of Squirrel and official Master Builders partner, about one of the biggest handbrakes on growth for building businesses: access to capital. JB shares how he left ANZ to start Squirrel in the middle of the GFC, breaks down the difference between house and land, spec and turnkey builds, and introduces 100% Turnkey Funding, a new product developed exclusively with Master Builders. For eligible Registered Master Builders with a pre-sold turnkey project, Squirrel funds 100% of the land and the construction cost, less a 20% implied builder margin, backed by Master Build completion cover.
JB also explains what builders need to set up to get started, why a 15% mezzanine loan can still be cheaper than giving away half your profit, and where the product is heading next. To finish, he shares what Squirrel’s research reveals about the $1.4 trillion downsizer market (think single level living, a garage and stylish duplexes) and his outlook on interest rates and house prices heading into 2027.
Useful links:
squirrel.co.nz
Turnkey Funding for builders
Squirrel’s downsizer research blog
Full findings report is available to download: https://squirrel.co.nz/modals/pfu-research-report
Where else you can find us
Website: https://www.masterbuilder.org.nz/
Elevate Platform: http://elevate.masterbuilder.org.nz
Instagram: https://www.instagram.com/masterbuildernz/
Facebook: https://www.facebook.com/registeredmasterbuilders
YouTube: https://www.youtube.com/channel/UCmh_9vl0pFf0zSB6N7RrVeg