What is Property Sourcing?
Property Sourcing is a service used by investors to secure investment property usually at a discounted price. A property sourcing company carefully selects investment property for an investor to generate an income. Using a property sourcing company is advantageous as you can find investment property to suit the your needs and have it presented to you in a break-down of the area, costs, return of investment and refurb costs. A good property sourcer will have every detail resented before you in a clear concise package.
So what are the advantages of using a property sourcer?
1. It Saves You Time.
In business, time is money. Choosing to find an investment through a sourcing company saves you valuable time. Time is precious, and if you are not a full time property investor my guess is that you'd probably be wanting to use your time in another way rather than trekking down to visit hundreds of different investment properties everyday. Using a property sourcing company is a completely passive way to invest in property.
When starting in the property industry investors normally have little experience, limited local contacts and limited understanding of strategy's. As this is the case, investors may find it hard to grow and scale their property company in the beginning especially if they have external duties outside the property industry such as a full time job.
As a professional property sourcing company excellence is what we strive for. Along with deals from property portals we also undergo extensive direct to vendor campaigns which ensures that our clients get exclusive and exciting off market deals delivered straight via their inbox.
2. It Can be a Hands-off approach.
Sourcing agents go out view the properties for you, negotiate, list detailed refurbishment lists along with extracting important information from the vendor/EA so you understand the property fully. They then package this information on a simple and concise PDF which outlines the full numbers involved with the deal along with pictures and video walk throughs to give investors a better idea of the property.
This will save you a lot of precious time. Working with a property professional such as a deal sourcer allows the entire process to be more streamlined and hands-off.
3. They understand what you want.
A good property sourcing company is knowledgeable about the property market and will be able to tell you the hotspots in a given area, this ensures you get best profitable investment possible.
When consulting a property sourcing company they should have your best interests at heart. Having a 1:1 conversation with a sourcing agent can help inform them of your criteria so when they strategically search for properties that are right for you.
Each investor is different, so is each deal. We understand that some investors want different things out of property than others. That's why when you use our source to order package we hunt for the perfect deal that suits an investors individual needs. We get to know investors short term and long term goals so we can better understand what they want to derive from property in the long run, not just the short.
4. It'll provide more flexibility and choice.
The fourth thing that a sourcing company can provide is choice.
If you also want to secure and search for your own deals then that fine as well. Although consulting a sourcing agent could allow more potential deals giving the investor more choice and flexibility when choosing their next property investment.
Many property sourcers can also project manage your investments which means that you don't need to worry about doing the refurbishment on the property if the property is further a field. The investment is once more completely passive.
5. They Make YOU Money.
Property sourcing companies are there to provide you with the best value for money. They can handle the process from start to finish. From getting the keys for the client to undergoing project management on a refurbishment to handing the keys back to the EA for rental.
For these reasons, property sourcing companies are greatly sort after services. They save you time and hassle and make you money without the risk of poor investment properties that lack cash-flow and capital appreciation.
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Thanks for reading.