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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.
I have just signed up to Property Tribes. I have been working in property for the last 12 years in some form or other (in house banking and as a real estate finance lawyer, developer and sourcer) and am also an HMO landlord. I have just started my own Company Koru Property Strategies with a partner and together we have been assisting people with building projects as well as property sourcing. I have only just taken on the property sourcing role for others and would like to know more about the independent redress scheme that you refer to above as it sounds like something I need to be aware of. If you have a moment I would very much appreciate your input. Thank you and best wishes
Koru Property Strategies
(*Moderator note: Content removed as breach of our Terms and Conditions*).