What makes a UK Property Sourcing Company, good?
Anyone can source a deal, technically speaking it is easy. You just need to find a property, get an offer accepted and pass it on to someone who would want it.
Legislation and to be regulated is also easy. It takes no more than £1,500 to set up a limited company, register yourself with an ombudsman plus other regulatory bodies, put an indemnity insurance in place, and technically that’s it, you are ready to go as a Property Sourcing Company.
This idea and way of thinking is growing even more than ever since creating a Property Sourcing Company seems to me to have become a rather fashionable new way of property training, with a lot of new people coming out from a few days training or videos with a sourcing business setup and ready to go. This is not to discredit those new UK Property Sourcers who have the ethics and the professional capabilities to thrive in their business and truly help investors grow their portfolio though. Some ‘newbies’ are awesome in how they run their businesses!
Having been in the sourcing business for over 8 years however, I have seen various types. I do also understand that it is not only ‘finding a property’ what clients pay me for instance. After all, if property was easy, or a ‘getting rich quick scheme’, then probably Property Sourcers would not be needed that much.
Property Sourcing Agents UK
Question about sourcing No.1: Have you ever seen a ‘deal’, on a platform or group, that it seems to be just the perfect one and as soon as you enquired you receive a reply somewhere along the lines of ‘sorry this deal has already been taken’ and instantly got invited to join a mailing list and eventually been sent another property in return not as ‘juicy’, as the previous one you initially were drawn to?
Question about sourcing No.2: Have you ever been presented a ‘deal’, on a platform or group, which did not turn out (like…at all), in the way it was put forward to you initially?
Reality check about sourcing No.1: Let’s be clear…sh*t happens. It’s life, and property is no exception. Even for best property sourcing companies have gone through this experience. It is an absolute fact that deals sometimes do not turn out as we expected. That happened in some of my own purchases, and surely happened to others too. It is part of being an investor.
Selling sh*t however is different story…
Reality check about sourcing No.2: any ‘deal’ can look great on a spreadsheet. However, the reality in a competitive market is not as black and white. Risk assessment, exits, and rentability (regardless the rental yield), is paramount.
I often find myself rather ‘putting off’ some clients from some properties. Having said that, it is for that same very reason why what we expect to happen on the ones we move forward is very much what happens in reality. The best places to invest in property uk really depends on what you are looking for.
If you want a to look at a realistic figure in terms of good rental yields and about our property sourcing services in Stoke-on-Trent, Newcastle-under-Lyme and Crewe, please do contact us.
Please do bear in mind: the deal will not LOOK awesome 🙂
Treasure Tower Property Consultants