Subscribe to the only dedicated property deal sourcing podcast in the UK. Make sure your profile, tells people what you do. The disadvantage is that they'll usually offer a limited variety of properties – generally new builds or off-plan – which doesn't help if you're looking (for example) for a property where you can add value. What will it rent for? So needless to say as a sourcer, you’re going to want investors and I can tell you now there are several investors that attend property networking meetings especially investors that understand they’re going to have and they’re going to pay for a sourcing fee to find deals and just make sure that you’re making a note of these people, get their business cards, get their telephone numbers and arrange to meet them outside of your networking meeting, because you really want to get around that room and speak to many people as you can. If you are going to get to networking meetings, one of the biggest pieces of advice I can give you is to not focus too much on long lengthy conversations at the networking meetings and have probably at most two to three minutes with each person that you meet and find out how you can help them. From here, find owners who’s mailing address is different from the property address and send them a personalized letter offering your services. 24th June 2013. You can find that angel investor who not only will invest in your start-up, but will also sit on your shoulder, offering mentorship, solid advice, and provide access to their network of contacts. You should definitely have a look, but it won't necessarily be right: we offer a very specific service, which will be fantastic for some investors and totally unsuitable for others. If the property is still a good deal once you've combined the purchase price and the sourcing fee, then it's worth paying. Find the right investor for your next project. Sourcing is a fragmented market. Will it rent? Does that mean you should work with them? I speak to Mark about how to work with a property sourcer to access better opportunities than you could find … They're often the first to hear when one of their existing landlords is thinking about selling a property, so might be able to point you towards a ready-to-let property that they're already managing. There's no shortage of shady people operating in this space, but even if I trusted someone implicitly I wouldn't trust their opinion on a property without doing my own research. And then find the people that are going to be sort of most crucial to the early stages of your development. This circle is made up of family, friends, and acquaintances. Property Hub Invest is about far more than just sourcing property – but if you want to find your own investments, we’ll happily tell you exactly how to do it. If the property was really worth $2 million, the seller would have sold it to someone else for $2 million. Now I would assume Andy’s asked this question because as a newbie, you’re not going to have sort of a massive list of investors. Related: Creative Financing: 5 Outside-the-Box Tools Savvy Investors Use to Build Wealth. Many real estate investors find … Real estate ventures need one thing, perhaps more than anything else: funding. So make sure you’re going in there seeing if anyone needs your help. What's it worth now? You’re not going to have the experience where everyone is jumping at asking you to source them deals. Ep50: How Kate Wieliczko Built A Successful Property Sourcing Business During The Lockdown, How To Source Property Deals To Grow Your Own Portfolio Or Sell To Other Investors, Hot Tips for Launching a Successful Property Sourcing Business on a Low Budget, Ep49: 3 Tips For Negotiating Rent to Rent Deals with Landlords, Ep51: 5 Top Tips for People Starting A Property Business, Ep45: From Full Time Job to Her First Property Deal – How Deal Packaging Was The Perfect Way Into Property Investing for Judith Ragg. It could be a parent, aunt, coworker, the goalie from your rec soccer team—any individual you personally know. The only dedicated deal sourcing Facebook group in the UK. And then you got the groups. The advantage of using an established company is that you'll easily be able to find them online, so there's less time spent searching – and crucially, you'll probably be able to find reviews online too. Search forums like The Property Hub (there are also various property groups on Facebook) for posts mentioning your target area: you'll find local events you can attend, people who invest locally (who might know somebody, or even pass on the odd property themselves) and perhaps sourcers themselves. There's one simple way to establish whether the fee is worth paying: add it to the purchase price. If you think you can easily find someone who'll do the entire job of investing in property for you with no work involved on your part, there are plenty of people who'll gladly sell you that dream – but you're putting yourself at huge risk. Nothing on this website should be interpreted as "advice". Well, full disclosure: I'm a co-founder of Property Hub, which includes a sourcing service called Property Hub Invest. So you can use that and explain to your family and friends and work colleagues and whoever that if they’ve got money to invest, you can invest it wisely for them in terms of finding property deals that are going to generate them an income. Our head of property sourcing for investors follows a top down approach of selecting cities that have the most favourable supply versus demand fundamentals. Just tell absolutely everyone what you do. The property is actually worth $2 million." Today we're sharing three of our top ways to find new investors for your property deals. Mark: Right. Auctions are a very … Social media can be your best friend as a lean startup or solo entrepreneur looking to … If you have a burning question about property sourcing … Remember, when you approach others outside your network for funds, … Independent local agents are usually very well connected so this is a handy shortcut – and as they'll be managing the property, they've got a vested interest in finding you something that will let easily. A step by step guide on how to get started property investing and generate your first deal lead. To find multi-family investors, start a Reonomy property search by... Land Investors. How to Find Real Estate Investors for Partnerships. Sourcing fees can be anything from £500 to £5,000 or more – so what's a fair price to pay? So when I say networking meetings, you will all probably or most of all have attended at least one if not several local property networking meetings and things such as PIN, PPN, PEN, all the different ones – there’s quite a few now that are cropping up all over the place. Some investors may opt to buy real estate leads, such as through paid websites or software. Answering these questions is enormously important: not a week goes by when I don't hear a story about someone who bought a “below market value” property in an area they didn't know properly – only to find out it'd been massively overpriced, or the rent had been overstated, or it needed a load of extra money spending on it, or it would struggle to rent at all. So what is the best way of building an investor contact database to sell package deals to as a newbie sourcer? QA01: What Is The Best Way Of Building An Investor Contact Database To Sell Packaged Deals To As A Newbie Sourcer? Now, one of the things I also want to sort of make clear and hopefully it will help people feel a little bit more at ease about investor databases is there are only so many email addresses and names that will be active serious buyers on any investor lists. They’ll be time wasters, they’ll be time kickers and you know, we’ve got a list of 10,000 buyers I can tell you now. Become an Insiders Circle member and get the support and training you need to gain momentum in your property journey. Having built up a nationwide sourcing business, he's now teaching other investors how to find their own deals – either to build their portfolio, or make a profit by selling them on to others. On the assumption that it's not suitable, in this article I'll give you some pointers on finding some property sourcers and doing your research on them. 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