Investors Work with ‘Property Sourcers’ for These 5 Reasons
My post this week is primarily aimed at addressing some common misconceptions regarding working with property consultants or ‘property sourcers’ that I’ve come across online…
So here are the top 5 reasons why experienced investors ask for help from me developing their property portfolio.
1 SAVES TIME. Majority of investors are quite busy. They either own a business or are senior professionals in their respective fields. They simply do not have the time to perform all works required to acquire their next property investment.
2 OPPORTUNITY ACCESS. Good property sourcers do not only have access to off-market deals, but they may also obtain early access to deals from agents before they get listed on the open market. They also take over the negotiation.
3 DUE DILIGENCE. Many investors want everything handled by someone else, from the investment case to the cost estimates and refurb. And someone who represents their interests — not the seller’s.
4 KNOWLEDGE OF THE AREA. Working with someone who knows everything about the investment area is crucial in property investing.
5 NETWORKING / EXPERTISE. Despite the fact that many investors who engage with sourcers and property consultants are very skilled themselves, it is beneficial to work with someone who has specific property expertise. But also has access to a reputable network of professional services and trades they can call upon.
