What is property sourcing? If you are new to the UK property market, this term might sound alien to you. We at P&A, have amassed a great portfolio over the years and have sourced various  property deals to customers, receiving good reviews.  

All these years of successes and failures have taught us various lessons which we are happy to share with you today.  So, if you are new in the property business and are trying to find your footing, or if you are an investor interested in deal sourcing property , this article will prove to be useful for you.  

What is property sourcing

Property sourcing refers to the art of finding, analysing, and negotiating property deals for your personal use or selling them to investors.Before you jump headfirst into scouting properties without any leads, stop and think about your needs.  We are assuming that you, the reader, are a beginner in this area. So really think about what you or your investor is looking for in their property.  

Get as many details about as you can. Some examples to consider before looking for a property would be: 

Area demographics, crime rates, type of population (students, young professionals, retirees), etc.  

Get as many details about as you can. Some examples to consider before looking for a property would be: 

Area demographics, crime rates, type of population (students, young professionals, retirees), etc.  

Additional Research.

While researching the neighbourhood, it will also be helpful to find the average prices of renting an serviced apartment or an HMO in that area and can prepare a ballpark figure to show your investors.  Click here for  more information on how to find a perfect property for Service Accommodations.

But keep in mind the kind of services your investors aim to provide and only compare prices with those that provide the same quality of service.  

We also suggest you take a look at the properties using a map view. That way, you can identify the streets and decide which is more lucrative and discard ones that you don’t need. 

If you are just starting, we suggest you look into areas that are in your neighbourhood than going to a different county over 50 miles away, as you will know more about them.  

You might even know some people who could help you along the way. Starting small can also help you build the confidence you need to branch out to a different county.  

Finishing a property sourcing deal

Once you have all your information from your extensive research, you need to analyse that data and concisely put them for the investors.  

Every investor is interested in different types of data so, find out what kind of data your investor needs in their report and add anything in case it is important.  

However, the basic data reported in your analysis should have: 

Validity

 Make sure you have a reliable source for all this data as the validity of your data will make or break your reputation in the business.  

If you are found to have faked some data or made a mistake, you will find it difficult to get any clients. But if you have a reliable source you will find things to be significantly easier.  

You can ask an experienced property sourcer for help  to go over your report if you feel underconfident about it.  

It is never wrong to ask for help and you might even get some tips from an experienced property sourcing company that might make things easier for you in the future! 

Your first few deals might take some time for you to put together but as you persevere, you will find things to be easier, gain more clientele, make more connections around the city and, gain confidence in your work.  Follow us on Facebook to get latest information about the UK property market

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