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I currently live in Dubai but want to purchase a BTL property in the Birmingham area. I'm currently doing location research etc, but looking for someone on the ground who can do the sourcing for me.
Does anyone have any recommendations? Either an individual or company that does this kind of thing?
Thanks in advance
I would recommend going to local lettings agents and asking if they know of any landlords selling up, enabling you to purchase a tenanted property. That would greatly mitigate your risk of buying remotely imho, and no need to pay sourcing fees.Alternatively, you could look on the Vesta platform for a suitable property.
If you do use a sourcer, please ensure you use one that is a member of an independent redress scheme, as this will give you some financial protection.Also, pay your sourcing fees on a credit card, as, if it does not work out, you may be able to claim them from your CC provider under Section 75.
Vanessa Warwick Landlord and Co-Founder of PropertyTribes.com **If you have got value from Property Tribes, find out how you can support it in remaining a free to use community resource**
I am new to this platform. Kindly explain what the "probation" bit is about when it comes to responding to a post.
Thank you in advance.
Hi Monica, and welcome.Anyone can respond to a post from when they joined. However, there is a "probation" period (which is ten posts) where new members cannot make recommendations, include hyperlinks, or use the private messaging system until they have made at least 10 contributions. This is to protect our community from spammers.These are common protocols across all forums, not just Property Tribes.Please do not hesitate to ask if you have any further questions.
Thank you for your the clarification, greatly appreciated.
(*Moderator note: Comment removed as member has not passed probation and therefore not permitted to recommend themselves or others*).
Certainly steer towards caution as there are signs of overheating in Birmingham.
Probation? What is this guilty until proved innocence You might like to explain to me what you mean by probation?
Of course we are happy to explain what is meant by "probation". It's got nothing to do with "guilty until proved innocent".There is a "probation" period (which is ten posts) where new members cannot make recommendations, include hyperlinks, or use the private messaging system until they have made at least 10 contributions. This is to protect our community from spammers. These are common protocols across all forums, not just Property Tribes.Additionally, just to make you aware, any deal sourcer posting here has to provide the moderator with evidence that they are a member of an independent redress scheme, which is a legal requirement. This is also part of our community safe-guarding protocols.Please do not hesitate to ask if you have any further questions.
(*Moderator note: Content removed as breach of our Terms and Conditions*).
I provide a full end to end service, from procurement, redevelopment & management but I operation in and around Liverpool.
I have contacts in Birmingham who have been established for 30 years and will be able to help you,
As the PT forum is about opinions, I personally would be wary of purchasing an asset already tenanted. I believe there are more risks.
Also, I would recommend if you use a property sourer, to process the payment on completion via the solicitor. The charge can be included in the completion statement and comply with AML.
This is how I operate.
There are a number of so called "property sourcers" who are passing on a Right Move URL, with little or no Due Diligence. And always do your own DD.
My email is firstname.lastname@example.org. I can then forward my contact details who are based in Birmingham.
Have a good day.