Which type of UK property sourcing are you interested in?
No matter which type of sourcing you are seeking information on, we've got you covered:
In my fifteen year plus property career, I have used all of the three types above. And I'll give you a quick synopsis of each (plus my opinion), below.
Let's dive in!
"Done for yourself" UK property sourcing is exactly what it sounds like...
You are sourcing properties that you intend to use yourself -- by either purchasing them, or applying some other property strategy.
My favourite type of sourcing -- and the type that I built most of my £2M portfolio using -- is by going direct to motivated sellers and buying below market value.
I cover this in great detail in my Guerrilla Property Marketing course.
Depending on the area you choose to operate in, the types of properties that you source may be used for:
You may even be looking at sourcing for the rent to rent strategy.
You may come across properties suitable for rent to rent using low to no-cost "direct to vendor" sourcing strategies, but if you're focusing on this strategy, then you'll probably want to primarily target landlords.
Again, we cover rent to rent property sourcing in much more detail in our Rent to Rent Deal Generator course.
"Done for others" property sourcing UK is usually known as "deal packaging".
This is where you use one of the strategies that we mentioned above to source properties, but instead of keeping them for yourself, you "package" them and pass them onto another investor for a fee.
Deal packaging is a great strategy that is super-useful for both experienced and beginner investors.
It's an ideal starter strategy for beginners, in that:
It's a great strategy for experienced investors to have at their disposal too, because if you come across a property that doesn't suit your own investment criteria or goals, then you can still monetize it by packaging the deal.
We cover the deal packaging strategy in much more detail in our Guerrilla Deal Packaging course.
Done for you sourcing is where you allow someone else -- an individual or company -- to do the sourcing for you.
This is much less time consuming than the other two methods, but it still does require you to do some work.
When the deal sourcer presents you with an opportunity, it's your responsibility to do your due diligence, to ensure that the deal really is a deal, and that it meets your investment objectives.
If you do it right, then you'll get the benefits of acquiring a great property deal, with a fraction of the work.
You will of course need to compensate the deal sourcer with a finder fee, for doing the sourcing work that you have avoided.At the time of writing, we work with a couple of trusted property sourcers, and you can get access to their deals by signing up to receive our property deals alerts by email, here.
Well, as I mentioned at the top, I have used all of these methods in my property career...
And I'm not alone in that: many investors will employ a mix of sourcing strategies, to accelerate their business growth.
Here's a quick summary of when you can / should use each...
Done yourself sourcing is for you if you have the time and inclination for it.
There's certainly a learning curve with this, and although it can certainly be done as a "spare time" endeavour to begin with, there's no doubt you'll need to make some sacrifices in terms of time with family, friends etc.
You'll also need funds for deposits if you intend to source for yourself.
So, this method is for you if you are time rich and cash rich.
Done for others sourcing (deal packaging) requires the time commitment of done for yourself sourcing, above...
But it does require less of an initial pot of funds to get started. You'll only need the funds it takes to get compliant.
So, this is for you if you are time rich but cash poor.
Done for you sourcing requires much less of a learning curve and less time on your part as someone else is doing most of the work for you.
So, this method is for you if you are time poor but cash rich.