The way I do property sourcing is a bit different, it’s all about getting to know your circumstances and your investment goals and finding the right properties for you. I will spend time working with you to develop a detailed sourcing brief, which enables me to source to your unique and specific criteria.
I am currently focusing the bulk of my sourcing activities in the Greater Manchester area due to my local knowledge, the strong yields and the upward price trajectory. I am open to sourcing in other areas such as London and Bedfordshrie. Sourcing a property for a client is the beginning of a long-term relationship where we can work together to achieve bigger and better things. When you choose to work with me you get access to my network of trusted partners in property and you get an expert on hand every step of the way.
How I source property
1) Getting to know you and your needs
I tend to work with 4 to 6 investors at any given time. The first step is either a phone call or a face to face meeting of around 45 minutes getting to know you and understand your position as an investor.
Total investible funds?
Sole trader or Ltd Company?
Short term and long term goals?
Yield vs Capital Growth?
Hands on or hands off?
Geographical areas for investment?
2) sourcing trip
Next I arrange a sourcing trip of 2-3 days, where I look at 30-40 properties. Some of these properties will be taken straight from the open market and some will be sourced off the market through my network of contacts.
My viewings involve a 60 point checklist where I cover all of the basics like internal condition, refurbishment spend, achievable rents and whether the property is close to schools and transport links. I source property for you in the same way I would source property for myself, I look at areas undergoing early stage regeneration like Salford Quays (https://www.salford.gov.uk/mediacityuk ) and Manchester Airport (http://www.airportcity.co.uk/) and I consider the impact of a changing transport infrastructure such as HS2/3 (https://www.gov.uk/government/organisations/high-speed-two-limited).
I also go a step further and try to understand as much as possible about the seller and their level of motivation to sell. I actively seek out probates (owner deceased) and repossessed properties as these are often available at a discounted price.
3) working together to choose the right property for you
Next I work with you to try and find a suitable property match from the ones I have viewed. We will have a detailed discussion about how each of the properties fits with your goals and what you would be willing to pay for them. I then conduct the negotiation with the estate agent to achieve the best possible purchase price. There are various negotiation techniques that I employ at this stage, but the key point is to know the true market value of the property and ensure the best possible price is achieved.
Once the sale has been agreed, I pass you over to the estate agent to go through the process of purchasing the property yourself, engaging your own broker and solicitors. I am very experienced with the bidding and buying process and I will be on hand throughout should you have any questions. If you need a good broker, solicitor or letting agent that can be arranged, if you want to use your own, that’s also fine.
If you need help managing your property, I can help you with that too.