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  • Entrepreneurs

    Starting as a property sourcer

    Hello everyone,

    I am currently in the process of setting up as a property sourcer - signing up with property ombudsman, professional indemnity etc. I am looking for ideas for networking and finding investors that would be interested in my service. I don't want to waste the time of estate agents and vendors if I don't have interest buyers lined up. My business will be kept local around Derby and the surrounding areas. This kind of business interests me and I don't want to be an investor - I've gone down that road and investing in property directly and being a landlord is not for me.

    Does anybody know any property sourcers who I could drop an email to or contact on Linkedin to pick their brains? As long as they are happy for a short conversation, I'd like to know how others got started in the business. I think finding properties and putting time into searching will not be a problem but finding interested buyers and knowing what they want is difficult.

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    Anthony Dixon

    Property Sourcer

    Hi Anthony,

    We have a few discussions that will assist you in your quest:

    Deal Sourcing Company - Where to sell deals?

    FREE deal sourcing course

    So I thought I'd be property broker / sourcer 

    Your deal sourcing business will be largely dependent on building relationships with investors, so attending local networking events is a good way to start becoming visible and known in the area and will also be a good place to meet other deal sourcers.

    There is almost certainly groups on facebook dedicated to deal sourcing, and you will also find deal sourcers on the various facebook property groups, so you can connect with them via "friending" them and then sending a private message to make contact and ask if they would be willing to speak with you.

    I hope that helps for starters?


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    Thanks Vanessa

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    Anthony Dixon

    Property Sourcer

    Hi Anthony

    Assuming you are based in Derby, an area I am interested in investing in the near future.

    Could you let us know what is your background and expertise in property to have a flavour of your credentials? Or ping me a private message.

    Regards

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    Hi,

    I cannot private message you at the moment as I am on probation on the forum but will do in the future. In terms of the preferred housing stock I want to source, I will be looking mainly at your two/three bedroom terraced or semi-detached houses, usually Victorian era, at lower to mid-value in the market. I have an idea about the right areas but need to back up my thoughts by talking to estate agents then it will be further investigation and due diligence. I will use a combination of leaflet drops, online portals/estate agents and Repolist to source. I won't be starting the business until after Christmas, I'm doing a few casual shifts to build some cash for marketing.

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    Anthony Dixon

    Property Sourcer

    Hi just seen your post and having had lunch in Derby back in June - I’m wondering why you want to invest in Derby?.....  is there something happening there? .....  you see I was thinking of the same as it’s not too far from London and on the edge of the Peaks which is lovely....

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    Its a tough business to enter unless you know your stuff

    To do that you need a good CV and that for me means having built your own portfolio

    Agents are just information givers . They will think every property is a good investment

    They should not be your main source for education

    JLasset asked about your background and expertise in property

    A flavour of your credentials to date would assist in guiding you to the right place to learn

    I felt your answer didn`t really hit the spot with me as it left me non the wiser I`m afraid.

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    Jonathan Clarke. http://www.buytoletmk.com


    Thanks Jonathan,

    I would rather private message all my details on my work and investment history. But if my CV doesn't stack up then I will have to consider another line of work. It is part of the issue, impressing investors enough that they would want to use your services.

    Cheers

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    Anthony Dixon

    Property Sourcer


    Join your local chamber of commerce.

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    Yeah, I thought about this one. I think it is a good idea not only for property sourcing but for other business opportunities.

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    Anthony Dixon

    Property Sourcer

    Hi Anthony,

    I would recommend you consider the Keller Williams proposition - it might be just right for you.  It allows you to start an estate agency business under their umbrella for £200.00 per month, working out of a hub/workshare environment.

    This would be a great way to build your own property business, being trained to a very high standard by KW, one of the best training companies in the world.

    If you read the entire thread I linked to, I hope you will see the possibilities of going down this route, rather than going it alone.

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