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Podcast 182 – Sheeple, Grant Cardone and Property

Self investment and self development is vital if you want to keep moving forward.

This podcast was recorded via Facebook Live after a weekend in London watching Grant Cardone.

A thoroughly enjoyable weekend (that literally took 14 hours of travelling to get from Stansted to Spain!) and a great reminder of how far one has come compared with when I first started 20 years ago.

Oh, and some examples of 'sheepage' (Yes, Ive made that word up - but it's people acting though 'sheep like')

Take a listen.

You can get more from me at https://www.daniellatto.co.uk including over 100 information fueled podcasts and don't forget to subscribe to my Youtube Channel!

Speak soon,

Dan Latto

Replay Podcast 81 – Property Sourcing – Why This Could Be Your First Step Into Property

Property Sourcing has the potential to earn a lot of money quickly. But it has to be done right.

So first you have to find the deals, then you have to package up those deals ready for presenting, then you have to ensure you have a mailing list full of investors.

In this podcast I talk about Property Sourcing and why it could be a good first step for you.

You can get more from me at https://www.daniellatto.co.uk including over 100 information fueled podcasts and don't forget to subscribe to my Youtube Channel!

Speak soon,

Dan Latto

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Rounhday Park Leeds – Day out visiting from Spain – Daniel latto

When we visited Leeds last month we popped into Roundhay Park - so we made a short video.

Investing in property made it so that we can pretty much go wherever whenever (and we chose Roundhay Park!) - we were in the UK visiting family and I just picked up the new Samsung S9 and wanted try out the 'slow mo' function of the camera. 

So we ended up in Tropical world at Roundhay park.

You can get more from me at https://www.daniellatto.co.uk including over 100 information fueled podcasts and don't forget to subscribe to my Youtube Channel!

Speak soon,

Dan Latto

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Property sourcing Compliance

Property Sourcing Compliance

If you're a Property Sourcer, then this part of your business is vital if you want to be still around in 5 or 10 years. 

Property Sourcing has become a major obsession for many getting started in property.

The question is, are you doing it legally ?

If you’re a Property Sourcer, and you want to stay above the law (of course you do!) then Tina Walsh can help you get there.

I see so many property sourcers who are not compliant, now's the time to do something about it before you get found out and fined (The penalties even include jail time).

Join Me In My Exclusive Facebook Group

How To Be A Property Sourcer

How To Be A Property Sourcer

Come and Join My income Accelerator Programme for just £37 a month !

In this video, I cover the 6 steps you need to implement to be a property sourcer.

1. Find the deal : You always need to be on the lookout for potential deals. There are various ways of finding property deals, including dropping leaflets, websites, advertising and so on. The key is in consistency, getting the wording right on the adverts and so on.

2. Qualify the deal : Is it really Below Market Value, or is it really just at market value. What works need doing on the property? What’s the rental value ?

3. Present the deal : You will need to ‘top and tail’ this deal into a format that is attractive and easily readable to your potential investors. So you need to create some form of .pdf that you can email out to people. In addition to this you will also need to provide a professional looking profile for you, as people buy from people they know, like and trust. Building your reputation is important. It can take 10 years to build and only a few seconds to ruin it. So build it well.

4. Build Your Investor List : You need a database of potential investors that can potentially buy that deal from you. Once you have this, any deal you come up with can be sold much quicker than finding the deal and then struggling to actually sell it. Building up a good list of potential purchasers is vital.

5. Become the Broker : If you don’t want to actually do the sourcing work, you can work with other property sourcers and help sell their deals, in return for part of the sourcing fee. This makes you the middle person – you will need 2 databases. The first database will be the people who source deals. The second database is the people who will buy the deal from you.

6. Legal Obligations : Are you aware of your legal obligations ? Are you acting as an Estate Agency ? If so, then you will need to abide by the requirements set down for all Estate Agents. Too many Property Sourcers get this wrong and do not comply with the law. It’s an important point.

Want to get a Quick Start and become a Property Sourcer?


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Property Training | Property Flips & Refurbishment Day

 When I first started in property, my strategy was to buy low, refurbish the property and then sell high.

Going back 20 years though, we didn’t have the level of education we have available to us now.
  • No internet.
  • No podcasts
  • No Youtube
  • No training courses
  • No Mentors

So I made A LOT of mistakes.

Fast forward 20 years to today, and we don’t need to make those same mistakes, and we even have access to mentors who have personally flipped hundreds of properties and helped their investors do so too.

So last week, I was having a conversation with Mike, a good friend of mine who has been doing property flips for 25 years or so and the conversation went on to how things have changed in the property market.

Even investors with a lot of experience are getting stuck.

And if they’re getting stuck, no wonder others with less experience are too.  

New legislation, changes in the amount of properties available, it’s all changing.

But luckily, we have people like Mike out there who can spot the changes, and adapt accordingly to make the most out of the new opportunities this represents.

And luckily for the rest of us, he’s teaching it in May in Rugby and in Cardiff.

It’s a one day training course at a price that’s so low it’s ridiculous!

Find Our More About The Property Training Day


Now Mike LOVES helping others.  It’s one of the reasons we speak so often.

I love surrounding myself with positive can do people who actually have the EXPERIENCE.  Someone just like me who gets frustrated when the new property trainer with 6 months experience starts selling training because they got their first deal right.

But Mike is the real deal.  He’s done all these deals himself, not just learned them on a training course somewhere, but actually implemented what he knows for the last 25 years. TWENTY FIVE YEARS!!

I’ve known Mike for about 5 years now, and he’s even been one of my coaching clients. 

But you know when you meet someone, and you instantly connect, and you know that the person is a good stand up guy?

That’s Mike – he knows his stuff inside out and back to front and he’s an excellent coach, trainer and presenter as well as a valued friend.

So if you’re at a more advanced level, or you want to be, then take a look.

Find Our More About The Property Training Day

 

I hope you can make one of the dates, because if you can, you’ll be in very good hands with Mike.

If you do go – let me know how it goes for you !

Dan

Listen Now – Podcast 117 – Property Sourcing and Compliance – Staying Legal – Listen Now

Property Sourcing has become a major obsession for many getting started in property.

The question is, are you doing it legally ?

If you’re a Property Sourcer, and you want to stay above the law (of course you do!) then Tina Walsh can help you get there.

I see so many property sourcers who are not compliant, nows the time to do something about it before you get found out and fined (The penalties even include jail time).

So – take a listen, then reach out to Tina Walsh at www.propertysourcingcompliance.co.uk

Hope you enjoy it !

 

Daniel Latto

Property Sourcing Compliance – Staying Legal | Video Introduction to the Podcast

Podcast 117 – Property Sourcing Compliance – Staying Legal

Property Sourcing Compliance – sounds like a bit of a waste of time doesn’t it.

But not if you want to stay legal.

So many people who are property sourcers are simply not compliant, and this puts their business at risk, and in turn their clients too.

This is the Video Introduction to Podcast 117 – Property Sourcing Compliance – you can listen to the podcast now.

Plus – you can get A LOT of information from Tinas website at www.getpropertycompliant.co.uk/

 

Property Sourcing has become a major obsession for many getting started in property. And rightly so.  Being able to source a property legally, at upto 40% off it’s open market value is a powerful skillset to learn.

If you’re wanting to learn how to become a property sourcer, then that podcast is here 

Property Sourcing Compliance.

The question is, are you doing it legally ?

Property Sourcing Compliance

Property Sourcing Compliance

If you’re a Property Sourcer, and you want to stay above the law (of course you do!) then Tina Walsh can help you get there.

I see so many property sourcers who are not compliant, nows the time to do something about it before you get found out and fined (The penalties even include jail time).

You can reach out to Tina Walsh at her website

But do your research as this is really a very important aspect of your business to get right.

 

The last thing you need is a knock at the door by the wrong people but it can and will happen.

I get that marketing your property sourcing business is very important, but being compliant as a property sourcer is vital too.

It’s one of those ‘protection’ cards you get in Monopoly (like the ‘get out of jail free’ card) – it doesn’t feel useful when you win it, until you have to go to jail in the monopoly game, and it’s at that point you’re grateful you have it !

So – go and listen to the podcast here

The other thing about Property Sourcing Compliance is that if you want to be in this for the long run, then making sure you’re playing within the confines of the law is essential.

This means sometimes you have to do the right thing, especially when nobody is looking !

The problem with property is that there are so many sharks out there that just want to take your money and not give you anything in return.

Tina Walsh is a client of mine (and an ex-copper!) – and I know just how good she is.

In addition to that, running her property sourcing compliance training is really important to her as she sincerely wants to help other people make money and stay legal too.

Thats one for the reasons we push Tina as THE go to person for Property Surcing Compliance.

So what’s involved in Property Sourcing Compliance then ?

Well who better than to listen tot he expert who lives eats and breathes this stuff ?

Listen to the podcast, or get your self over to one of the Property Sourcing Compliance Training events that Tina runs.

Hope you enjoy it !

Daniel Latto

 

Property Sourcing Compliance

Learning About Property Sourcing Compliance Investing Isn't Too Difficult To Do



Is an investment in property something you are considering?

The difficulty for most is the upfront costs in getting started.

But you can start as a Property Sourcer first which could be your 'side hustle'.  This could help you generate the extra cash to go full time as a property investor and even start developing etc.

But you're going to make sure that you come under the law when it comes to Property Sourcing Compliance.

I've simply seen too many people start up as a 'property sourcer' thinking that there are no regulations, and of course this couldn't be further from the truth.

Do you have any questions about Property Sourcing Compliance that are keeping you from moving forward?


Being  a property sourcer can be a very challenging endeavor.


When you are provided with good advice and information, much of the challenge can be removed, which is why we recommend Tina. Read more and get some information that can help you get on your way and even better, make contact with Tina and her Facebook Group.

Remember that property sourcing is all about the numbers. When you're sourcing property to sell on to someone else, there's no point in getting emotional or attached to the place.

But again, I've seen people do just that ! You need to keep your eye on the numbers and make your decisions with your head, not your heart.

Make sure to gain a thorough understanding of local property values. Mortgages and rent in local neighborhoods can help you figure out the home's value better than any financial statement. When you understand what is happening at the street level, your decision will be better informed.

Find a market you enjoy. If you find a market that you like, it can actually help you become successful. No matter if you are a flipper or purchasing properties that require little money down, stick with the things you already understand.

If you want to get into property sourcing but do not have enough money to get coaching, then changing your environment into one thats conducive to your success is vital.


Attend networking events, meet with other property sourcers and so on.



As a Property Sourcer,  be very picky about the properties you source for your clients and don't just jump into the first deal just to get one under your belt.  They all count, and you need to make sure you get your first one right.

Getting a Property Sourcing Coach can help you find the right deal of course.

Make sure to do your due diligence. Spending sufficient time researching is far easier than getting overwhelmed and over-leveraged. Deals often appear wonderful at face value, but digging deeper than the surface might bring other details about.

Put your trust in the numbers. It may sound obvious, but the numbers are what property investing investing is all about. Numbers don't lie, so do the math you need to do to understand a good investment and then stick with the plan.

Join Facebook forums online that discuss investing. You can learn smart investment tips from the experts. You will be able to ask questions to professionals. Lots of support can be found in investment communities. If you are new to the investment world, you can pick up great tips this way.

A word of warning though about forums.

There are lots of 'know it alls' who have virtually no experience.

I've seen one lady profess that she can't work out how to retire on her property investments and she's been an investor for at least 15 years - I mean - how bad do you have to be !

Just make sure you know who you are dealing with, there are a lot of 'sharks' out there.


Property Sourcing Compliance is no kid's game. It is imperative to know what you are getting into and what you can expect.

Hopefully, this article has given you some critical advice that can help you make some good decisions. The key is gain as much information as possible to ensure your success.

Podcast 41 Replay – Interview with Mark Evans from West Palm Beach, Florida And Dealing With Up To 100 Property Deals A Month

In this podcast, my good Facebook friend Mark Evans discusses how he handles up to 100 property deals a month, how he got started and how you can get started too.

We start off with how he secured his first deal with little experience and how how got to work smarter, not just harder.

That said, as well as working smarter, Mark triggers his Hustle Muscle with early morning starts and the implementation of systems in his business.

We also cover property sourcing using direct mail postcards.

This is an awesome interview and many of things we talk about can be used around the world when it comes to sourcing great property deals.

I have a tonne of respect for Mark and how he conducts both himself and his business.

He also has 2 books available :

Virtual Real Estate Investing Made Easy (Available on Amazon) &
One Buck Deals (also on Amazon)

Hope you enjoy it and my use of the term ‘dude’ !

Daniel Latto

>>

 

 

Podcast 37 Replay – How To Be A Property Sourcer

This podcast is taken directly from my new online Facebook Live show ‘The Property Cashflow Show’.

I talk about the 6 things you need to do to become a property sourcer.

I have clients making regular income from sourcing property deals throughout the UK and they receive between £1,500 and £3250 per deal sourced using these 6 simple strategies.

Of course, the devil is in the detail – but knowing these 6 strategies will give you the boost you need to get you started and become a property sourcer.

All ‘The Property Cashflow Show’ episodes can be found at https://www.daniellatto.co.uk/shows/property-cashflow/
Hope you enjoy the podcast.
Daniel Latto

>>

 

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High Yield Property Deal – Middlesborough just £45,000 !

So here is a deal that I really want to show you.  It is for a property in Middlesborough and I want to show you what is possible as a fee for a property sourcer for a low end property.

This property costs just £45,000 and needs refurbishment of £3,800.  So you are looking at £48,800 for the property to be complete.

Now on this deal the sourcer is charging £3,500.  Will they get this kind of money?

Of course they will.

They’ll be able to sell this as a cash deal to someone in London who will add it to their portfolio and build up their residual income.

Now if they can make this kind of money on these deals, then it is possible for you too.

Sourcing These Kinds Of Property Deals

Could you source 10 of these deals a month and sell them to people in somewhere like London?  If you can find and package the deals then you can sell those deals on.  As you saw in the video, the property sourcer is packaging the deal differently to how most people package them.

Why are they doing it that way?

Because they are packaging the deals to someone who is out of the area.  If these are your buyers then you have to package the deal in a way that is easier for them.

Learn More About Becoming A Property Sourcer

If you want to learn more about becoming a property sourcer and making these kinds of deals there is a free training for you.

It will show you how to source these deals with real examples and then how to package them up to sell on.

To access the recording click here

Property Sourced Deals – Wales 20% Below Market Value

Here is a deal that has been sourced by a property sourcer in Wales.

It has 2 properties within the deal and comes with 20% off the market value and is also available to offers.

The equity in this deal is £86,000.

Do you think that there is someone out there that wants to make £86,000? Of course there is.

You could be sourcing deals like this and selling them on.  A deal like this could easily earn you £3,000 in sourcing fees.  Wouldn’t that be a nice cash boost for you?

Take a look at the video and see what you think to the deal.

If you would like to be sourcing deals like this then you need to get some training behind you and a great support network.  Luckily, I have a free video that will show you how to become a property sourcer and find all of these deals for yourself.

To access the recording click here

Example Property Sourced deals – Liverpool – Massively Discounted

A great deal here that has been sourced in Liverpool.  This is a property with a market value of £720,000 going for just a mere £540,000!!!

Now do you think as a property sourcer you would be able to get £5,000 for this deal with a property flipper?  Of course you would.  They’d love to make £175,000 from one deal.

Who wouldn’t want to make £175,000 from doing just one deal?

In this video I talk with you about coaching and support networks.  Check it out.

 

 

Getting A Proper Support Network For Your Property Business

Like I said in the video, being in the Facebook groups that I mentioned aren’t a support network.  These groups aren’t there to help you to stay motivated and keep going when you can’t see how you are progressing.

If you are going to join a Facebook group then you need it to be one where people have experience in property and they are pushing and encouraging you to be the best you can be.

You are also going to need to get the right coaching behind you as well as the Facebook group.  That coaching is going to help you to be the difference.

To help you to increase your knowledge base I have put together a video for you.  It will show you all of the things that you need to know to become a successful property sourcer.

To access the recording click here

BMV Deal in Birmingham Property Sourced – More Deals Sourced Every Day

Here is another deal that I am showing you and it also shows the importance of how you build up your property sourcing business.

This deal has been around for a week now without selling so the price, which was already reduced considerably, is open to offers.  You might be able to get an extra £4,ooo discount on this deal as a result.

Normally I tend to see deals coming through once in a week and then they are gone.

Take a look at this video and you will see why this one is still available.

Building Your Property Sourcing Business The Right Way

This is why I keep on saying that you need to build your property sourcing business the right way.  One aspect of the business is to find and make these deals.  Another part is having a list of people to sell the deals on to.

It’s all well and good finding 10 deals, but if you don’t have a big enough list to send them to then you aren’t going to be able to move them.  This is why it is important to go out and build your list of buyers.

The more buyers you have, the more your chances of selling these deals on.  It really is that simple.

How To Build Your Property Sourcing Business The Right Way

To build your property sourcing business the right way you are going to have to learn about all of the different aspects of the business.  It’s no good just learning one and then hoping that the others will just click into place for you.

You are also going to need to back up your education with some coaching from an experienced property coach.  This is going to help you to keep going when the chips are down and push through those blocks that stop you from succeeding.

Getting a Property Coaching is vital – >>> take a look

And if you’re looking for a Business Coach in Birmingham – here’s the link >> Business Coach 

Property Sourcing – Could You Make Money With This Deal. 20% In Hertfordshire With £94,000 of Equity

Here is a property in Hertfordshire that has become available through a property sourcer.

The deal is at 20% below market value and that gives you equity of £94,000.  As a property sourcer, what do you think your chances are of selling this deal on?

Pretty high I’d say.

You could very easily package this deal on to an investor who will  add value to the property and then sell it on to the open market.

£94,000 gives people a lot of room to make improvements with and still make a profit.

Or alternatively you could keep the deal for yourself and then use the profit that you make from selling it on to purchase rental properties.  You will see in the video why I would recommend this as a flip rather than a rental.

Take a look at the video and think about what you would do to sell this deal on.

Overseas Property Investors

I am seeing more and more property investors from overseas building up a property portfolio here in the UK.  Given the state of the £ at the moment compared to the euro it is clear to see how it is easier for European investors to leverage their currency to buy properties here.

As a property sourcer you could make it your speciality that you source deals for foreign investors.

When the £ becomes stronger again, they are also going to get more of their own currency coming to them.  This creates a great win-win situation for you and them.

If you would like to know more about how to become a property investor then you can learn about how to do it the correct way through coaching :

 

Learn How to

  • source new deals
  • how to know if they are the right deals
  • how to package those deals
  • how to sell those deals

 

Property Sourcing – A WHOPPING £210,000 EQUITY in one deal !

Most of the videos about properties that I’ve been sharing with you lately have been for properties at the low end of the scale.  So now I am going to show you a property at the higher end of the scale.  These properties are out there waiting to be found and there are also investors waiting to buy them.

One of the great things about finding properties at this end of the price scale is the kind of fee that you can charge to the potential buyers.  With a property that has £210,000 in equity right from the start, do you think that will be easy to get £5,000 for a sourcing fee?

Of course it will be.  There are people out there that would snap your hand off to make £205,000 on just 1 property.

Take a look at the video and see what you think to the details of this property.

Becoming Financially Free

So would you buy this for yourself to add value to or would you sell the deal on and make a quick profit?  If you take the latter option you can then put that money to one side and build it up to create your own deposit so that one day you can buy your own property to either sell on or rent out.

The more rental properties that you have paying you a great return, the sooner you can be financially free.  Remember that financial freedom comes from having a residual income that is higher than your outgoings.  Another tip that can help you to get there faster is to cut down your outgoings.  The less that you need to have going out, the sooner you can hit financial freedom.

That is where the real juice is.

The Recording

As I mentioned in the video there is a recording you can watch that will show you how to source properties just like this one.  It runs for 2 hours so you will need to make plenty of notes as I want you to get the most out of this.

To access the recording just click here

Property Sourcing – Another BMV Deal – Manchester 2 bed at £54,000

In this video I am showing you 2 properties that have come through in Manchester.  Both deals are below market value and bring in a good rental income and as a fee on this you would be looking to charge around £2,000 to £3,000 per property.

So let’s say that you sourced these yourself.  That means that you are getting £4,000 to £6,000 in cash from selling these two deals on.

Or, you could receive around £950 a month by keeping them for yourself.

Take a look at the video and then see which option would be best for you

So which one would you go for?  If you don’t have the cash to buy outright or put a 25% deposit down then of course it will be to sell. The idea being of course that you put the money that you make to one side and start to save towards building your own property portfolio so that you have money coming each month without having to go out and chase it.

Imagine what it will be like after you’ve replaced your income with rental income.  Wake up and feel like having a lie in that morning?  Do it.  Have an extra hour in bed.  Have two if you like.

Feel tired and not really up to working today?  It’s fine.  You’ve earned your freedom.  Have the day off if you like.

This is the level that I want you to get to.  To be truly free.

If you aren’t sourcing your own properties yet then I have a recording for you to watch.  It’s around two hours long and it is jam-packed with content showing you how to source and package your own properties.  To watch it all you have to do is click here.

Property Sourcing – Imagine Buying A £33,000 Property That Pays £385 A Month Every Month For Life!

I’ve got another property deal here for Manchester that came in that I want to tell you about.  These days, it is hard to find properties that are going to come in below £40,000 but this one has come in at just £33k and is currently paying £385 a month from the tenant that is living there.

These figures are great for anyone wanting to buy such a property as the market value is £50,000 so there is £17,000 in equity on the property straight away and you will also be getting a great yield on that as well.

If you take a look at this video, I will tell you about the things that you need to be aware of when buying this kind of deal.

The Link I Mentioned

So if you found a deal like this, do you think that you would be able to sell it on for £3,000?  Of course you would.  People would snap that type of deal up from you all day.  They are going to get a great return from it and for the right kind of landlord it can be a great addition to their property portfolio.

Of course you will more than likely be looking to sell this on to a landlord that is used to dealing with Local Housing Authorities (LHA).  The price of the property will be relevant to the type of area so they are less likely to be getting professional type tenants in to live there.  Your job as a property sourcer is to find those types of landlords and then package the deal talking about those aspects.  If you try to sell them this kind of a deal as a place for up and coming professionals then you are going to lose their interest and attract the wrong kind of landlords to your offer.

This is one of the things that we cover in this recording.  The recording tells you about how to source new deals and also how to package them correctly and then sell them on.  It contains real life examples that have already been done before.

To access the recording, simply click this link.

Property Sourcing – How To Make Money Sourcing Property Deals

I just wanted to share this deal with you that I’ve received.  This is the sort of deal that you could be finding yourself and making some great money on.  Take a look at the video and then you will see for yourself how great it is.

Remember that people are doing deals like this every day.  I am currently receiving over 100 deals a month like this and there is a market out there to take these deals on.  Do you want to keep working the 9-5 or do you want to get out there and take a piece of the action for yourself?

You too could be earning thousands of pounds per deal that you do.  How would your life be different if you managed to do just 2 of these a month?

Then imagine doing 4.

I want you to think about what you would do with a deal like this when you find it.  So take a look at this and then have a think about it.

Link For The Recording

Selling This Deal On

With such a low sale point and a very low sourcing fee being asked on this property, you could even take this deal on and then re-sell it.  The property and the sourcing fee combined would give you a total price of £104,500 which still makes it a great deal for someone else to take on and you could easily put £3,000 on top of that for your own sourcing fee.

Can you see how easy it can be to start making money as a property sourcer?

What you would need to do with this is package it up for someone who is looking to buy it for £107,500 and then add value to it and sell it on for £150,000.  They then get £42,500  minus the costs of the refurb and they take that to use on the next property.  They have a nice chunk of cash in the bank, you have £3k in the bank, the original sourcer gets paid and the seller gets out of a sticky situation and avoids repossession.  Imagine how much stress will be saved for the seller knowing that they aren’t going to be repossessed this month.

How To Start Finding Your Own Deals

Knowing how to find these deals and make all of the correct types of contacts can be hard work when you don’t know what you are doing and also don’t know who to contact to get this deal completed quickly.  You need to get some help to make sure that you avoid all of the pitfalls and start making a profit quickly.

To help you, I have put together a recording that will show you how to do all of the aspects of property sourcing and avoid the pitfalls.  It has case studies of what others have done that started out just like you.

To access the recording just click here.

Make sure that you have something to write on and something to write with.  You will need to take lots of notes from this to make sure that you are able to use all of the content.

Be Genuine When Putting Property Sourcing Deals Together

One of the things that you need to make sure of when putting deals together is to be genuine in what you are offering.  If you are going to be someone that is going to try and get one over on people then I won’t pass on your deals for you and word will get around so fast that you will get lumbered with deals that you can’t sell on.

You need to make sure that when you are presenting a property you have sourced, that you have also shown the prospective buyer all of the costs involved with the property so that they can make an accurate assessment before buying.  If after they agree to go ahead with the sale, they then find there are extra fees involved that you didn’t disclose, then you will stand a very good chance of losing their trust.

The property sourcers that I use always give a full disclosure and I always let my clients know that I don’t earn anything from putting them together with my property sourcers.

There has to be that level of trust in a business relationship for it to be a long lasting and profitable relationship.  It’s the only what that I do business and it should be the same for you.

Take a look at the video below and let me know what you think about what I’ve said.

So as you can see from the example that I’ve given how important it is to give a full disclosure upfront.  If you are presenting a deal and miss out the ground rent or service charges then the client isn’t going to be too happy about it.

The aim of the game in property sourcing is to become someone that people can trust.  The people that are selling the property need to know that they can trust you and the people that are buying the deal need to know that they can trust you too.

Without that trust you are going to end up with people going elsewhere.

Create the win-win situation all of the time.  It isn’t about trying to screw the most money out of people, it’s about helping and providing a service.  That way you get happy buyers and happy sellers.

Are You Looking To Become A Property Sourcer?

Becoming a property sourcer is a great way to enter the property market at a very low cost.  You can work it around your current job and you can also use it to replace your full time income in a very short space of time.

Typically property sourcers earn £1,500 to £5,000 per deal.  How many of those deals would you need each month to replace your current income?

 

In the link you can sign up to a replay of a webinar I held telling you all about how to become a property sourcer.  You will learn about how to find new deals, how to package them and how to sell them on.  If that sounds like something you are interested in just click the link and sign up.

5 Simple Steps To Becoming A Property Sourcer

5 Simple Steps To Becoming A Property Sourcer : An easy way to start generating income from property

For those people who are ready to start in property but either can’t get a deposit together, or can’t get a mortgage, you can still make a great income on the side by becoming a property sourcer.

The beauty of doing this, is that when you can eventually fund the deposit, or you apply for the mortgage then you’ll already be in a great position to buy property Below Market Value (BMV) as you’re become an expert at finding deals.

So to help you, i’ve identified the simple 5 steps I help my clients create that will help you on your journey into becoming a Property Sourcer.

Obviously, in an article such as this, it’s not possible to go into the ins and outs as to how you put this together in detail.

Property Sourcing

5 Simple Steps To Becoming A Property Sourcer

So here’s the summary :

  1. Find the deal :

    You always need to be on the lookout for potential deals. There are various ways of finding property deals, including dropping leaflets, websites, advertising and so on. The key is in consistency, getting the wording right on the adverts and so on.

  2. Qualify the deal :

    Is it really Below Market Value, or is it really just at market value. What works need doing on the property? What’s the rental value ?

  3. Present the deal :

    You will need to ‘top and tail’ this deal into a format that is attractive and easily readable to your potential investors. So you need to create some form of .pdf that you can email out to people. In addition to this you will also need to provide a professional looking profile for you, as people buy from people they know, like and trust.  Building your reputation is important.  It can take 10 years to build and only a few seconds to ruin it.  So build it well.

  4. Build Your Investor List :

    You need a database of potential investors that can potentially buy that deal from you. Once you have this, any deal you come up with can be sold much quicker than finding the deal and then struggling to actually sell it. Building up a good list of potential purchasers is vital.

  5. Become the Broker :

    If you don’t want to actually do the sourcing work, you can work with other property sourcers and help sell their deals, in return for part of the sourcing fee. This makes you the middle person – you will need 2 databases.  The first database will be the people who source deals.  The second database is the people who will buy the deal from you.

  6. Legal Obligations :

    Are you aware of your legal obligations ? Are you acting as an Estate Agency ? If so, then you will need to abide by the requirements set down for all Estate Agents.  Too many Property Sourcers get this wrong and do not comply with the law.  It’s an important point.

You may notice I added an extra step for you to watch out for ! The legal side is SO important it was worth mentioning.

 

I hope you liked these  Simple Steps To Becoming A Property Sourcer.

As an overall strategy you can see that this type of income generation can be very lucrative in terms of generating income through Property Sourcing.

Many of my clients choose to become Property Sourcers to great effect – you can even read a case study about one of them here – Success Stories, along with finding out about how some of my other clients have performed.

Do these 5 steps well, by the end of next week, you can get your first deal – but as ever it always depends on doing the work.

What to do next 

Apply For A Strategy Session and Let’s See If We Can Help You Get Started Too

 
 

Want More Property Sourcing Advice?

Why not download my Free Property Coaching & Wealth Creation Podcast from iTunes.

Property Sourcer | download on itunes

 

How To Get Started As A Property Sourcer

To start as a property sourcer, you need to understand that the task ahead is not as easy as everyone makes out.

“Just drop a few leaflets et voila!”

I can hear those words ringing in my ears from peoples webinars or seminars I’ve attended.  And it’s just plain wrong I’m sorry to say.

The value of your Property Sourcer Coach is really revealed a few months in when you have done all the work, dropped all the leaflets, literally done everything your property sourcing coach has told you to do … only to find that you’re still waiting for any kind of result.

This is a test.

This is to test your commitment to changing your life.

And it’s meant to be difficult.

Property Sourcing : The Mental Strength To Get Deals Across The line

Improving your wealth through becoming a property sourcer involves mental, emotional, or economic personal improvement through psychological means.

Self help allows individuals to personally make themselves better by focusing whatever flaws they may have and eliminating them from their life. Sometimes self help can be difficult. The tips provided in this article should help alleviate that difficulty.

To achieve successful results in being a property sourcer, you need to do more than just set goals.

You should visualize them, too. How will it feel when you achieve them? What will the experience be like? This visualization process will motivate you by making your goals seem more tangible. It is also a process you can repeat as often as needed to restore your enthusiasm.

Try your best to keep a positive attitude everyday. No matter how bleak things can sometime look or be, keeping positive can help you get through the bad times. You can also get so much more done when you have a positive outlook on the task or the outcome of the tasks.

If you are struggling with the physical and emotional symptoms of not getting those results you’re looking for, do not hesitate to turn to your support system for affirmation and advice. Try to explain, in detail, how you are feeling. This will help your loved ones to understand what you’re going through.

You need to make it work by focusing on one main task per day

If your daily work schedule and life schedule leave you feeling empty and unfulfilled, think about the things that truly mean something to you and find a way, however small, to participate. Even if you can’t devote your life to being a property sourcer, you can devote a few minutes every day to doing something positive that will move your business forward.

If you hear a voice in your head, chances are it is just your subconscious talking to you. Those words you hear are called affirmations or your inner voice. Some of these may be positive, and some may be negative. The goal is to concentrate on the positive ones and work to eliminate ones that are negative.

Property Sourcer | Property Sourcing

Make sure to stay calm and re-read your property sourcing goals

Stress can be a common reaction to when you’re not getting your results. If you want to lower your stress, make sure to take deep breaths and find ways to stay calm. One of the easiest ways to reduce stress is to simply slow down.

Pamper yourself when you can. Depriving yourself of the things that you love in this life can make you miserable. Indulge in a few of your favorite things every now and then and your life will remain well rounded. This will improve your mood tenfold and increase your skills for handling any rough patches that come your way.

Make an honest effort to become more organised.

You’re about to something you’ve never done, which means you need to do things you’ve never done before.  When you are organized you have much more of a feeling of being in control, and this will help you gain self confidence. Additionally, your life will be less stressful because you no longer have to deal with disorganization. Having everything organized and in place can really calm you down.

Approach the challenges in your life with the attitude of finding a win-win solution to it. If you can take the time to find a resolution to challenges or problems in your life with a positive attitude, you are likely to find that it is quite satisfying when the issue is resolved.

When it comes to being a better version of you be sure that you are looking at yourself beyond what you can see on the surface.

This is important to realize and look into because only you know what truly lies beneath and only you wan work to develop this into positive characteristics.

When it comes to personal growth, be sure that you are careful with all of the large decisions that you make. This is important because bad decisions may eventually turn into repeats of themselves. It is important to assess each situation as though it is new, and insure you are choosing your solutions wisely.

Be someone that people want to come to for information and ideas.

You may not feel like a Property Sourcing Expert, but you are beginning to learn new things that will put you in the top 1% of the UK Population.

Think about it – how many other people have the knowledge you’re about to learn ?

Have a great Property Sourcing coach that will help lead you through your property sourcer journey

You will need someone who can help you through the tough times and it is important that you can have someone you can trust to turn to when you need that little bit of an extra push. This same person should also be there to celebrate with you when you have attained your goal.

 

 

 

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