How to make money sourcing property deals
How to make money sourcing property for investors
There’s a big misconception in the real estate community, many people think in order to make money from property you need to have money to start with. This isn’t the case. More people than you might think start their property journey with little to no money for their venture, this forces people to be creative from the start, to make it work.
Sourcing property deals for investors is a perfect example of a property business strategy that you don’t need a great deal of money to do. Sourcing deals for others has a number of up sides. Firstly, you can generate lump sums of cash relatively quickly. When you are not buying a property, you are able to bypass a lot of time consuming processes. In this case you are just finding the deals and selling the purchasing rights of the property to an investor. On average you could get£3,000+ per property deal sourced.
Secondly, sourcing deals will more than likely become more lucrative for you as time goes on. Over time your property knowledge and skills will grow and sharpen and most importantly you will build your credibility as a knowledgeable and reliable property deal sourcer, to become the go-to professional for finding great deals! This can lead to people looking to work with you and potentially join venturing with you in the future.
5 simple steps to property sourcing
1. Find a property
You’ll need to source properties that have the potential of being a good investment. Some things to look for are if a property is a) Below market value b) has the ability for added value and/or c) is a great rental property opportunity.
2. Secure under contract
Negotiate a selling price with the vendor of the property and secure it under contract.
3. Offer to property investors
Find the right investors for the property deal you have sourced and present the deal to them.
4. Assign purchase agreement
Once an investor is found, assign the purchase agreement over to them, with the vendor.
5. Get paid
The investor will pay you for the fantastic deal you have just sourced them!
The beauty of sourcing is how fast the whole process can be completed, from finding a property deal to selling the purchasing rights to an investor and finally getting paid can take as little as a day or two. Keep in mind this would be unusual as most deals take longer to complete for different reasons, but, with the right buyers and systems in place anything is possible. Pivro can help you find the best property deals, making the first step an easy one.
To learn more, contact Pivro and speak with a marketing automation for property professionals expert who can answer any questions you might have.
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