We often hear the question – why would you need a property sourcer, why not just go on Rightmove? We love answering this question and a good sourer is worth paying for! Here is why?
- Do you live close by to your investment area? Do you have time to do numerous viewings and be the first in the door or do you work fulltime? Do you have time to analyse multiple deals and negotiate with agents? Property sourcers are able to save investors a great deal of time by doing viewings during the day, doing due diligence and getting offers accepted at a good price.
- Do you know which property strategies are out there and which work best for your goals? Even if you know you want HMOs, do you have the experience to analyse a deal and ensure the figures stack? This is a service a property sourcer can offer as they will be professional property investors with experience and knowledge they can share.
- Do you know which locations work best for your chosen strategies? Take Liverpool for example, certain areas are good for HMOs and other areas are good for family BTLs but are you as an investor aware of the local knowledge as to what streets work for these? Buy the wrong £39k house and you could well only have benefit tenants knocking at your door! A property sourcer will have that local knowledge and be able to advise where and why to buy a property.
- Do you have a strong network of agents for which you have a strong relationship with that have been nurtured and thus be the first person they will call? Professional Property sourcers will have built a good working relationship with a range of agents and thus be the first to hear of a deal before anyone else.
- Do you have access to off market deals? Property sourcers are likely to have invested a significant amount of money and time into advertising in order to create leads rather than relying on agents.
- Do you have a power team of surveyors, mortgage brokers, solicitors, letting agents and also a build team that will refurb / develop the property? This is where a professional sourcer can provide a hands off service from finding a property through to preparing it for let and managing the property so an investor can be completely hands off and just enjoy the returns.
