Nathan Griffiths joined Sourced in 2020. Before joining the franchise, Nathan already had around 5 years of experience in the property market, where he completed 6 property projects, all of which were flips and refurbs.
Choosing the right path
Nathan had been working at a company specialising in packaging since he finished school. His father, though, started investing in property when Nathan was young and transferred his passion to his son, who wanted to grasp the opportunity. So, Nathan started working on some small projects alongside his day job, and then decided to scale his property portfolio and turn property into a full-time role.
Why did Nathan choose Sourced?
After being in property for a handful of years, Nathan wanted to move to larger and more profitable projects. This is why he started looking at other options, trying to find a way to learn more about property and pursue his dream of investing in developments.
Nathan found Sourced while searching online and after watching one of our live webinars, he got in touch and ‘the rest is history’ as he admits with a smile.
One of the reasons that made him join Sourced is the access to our exclusive funding arm, Sourced Capital. This allows our franchisees to borrow up to 100% of the purchase price and the work costs of the project, making it a lot easier to invest in property with no big initial outlay.
“The funding is a great platform to get started, so I jumped at the opportunity”, Nathan shares.
Nathan also mentioned the ongoing support we provide at Sourced, stating that “our support people are there should I need them for anything, and they are always at the end of the phone.
The First Project with Sourced
After Nathan attended the induction training at Sourced HQ, he put a plan in place and started looking for his first project. He implemented a clever tactic he learned in the training course from our Franchise Director, Chris Kirkwood. The franchisee found an agent who introduced him to the vendor, who then showed him the property. Due to the state of the house, Nathan managed to seal the deal at a discounted price of £55,000.
He then estimated that he’d need £35,000 – £38,000 for the refurbishment. So, he got in contact with our funding team, Sourced Capital.
Nathan estimates that the GDV has increased between 10% – 15%. After finishing and selling the property on the open market, Nathan will get a profit of £40,000 – £45,000.
“Ultimately I want to do developments, but you cannot run before you learn how to walk, so I thought to do one more flip, before moving to developments. You can do a project like this by covering only the upfront costs with the platform, using little capital of your own. I always had to find the money for the deposit, money for renovation, and before starting this project, my capital was minimal so joining Sourced was the ideal plan and exactly what I needed.”
Long-Term Plan
Nathan plans to continue doing some flips and refurbs; however, his passion lies in developments. Once he sells the current project on the open market, Nathan wants to use the money for his next project, which he hopes to be a building plot.
Who should invest in a Sourced Property Franchise?
“Sourced Franchise is for anyone looking to invest in property”, Nathan shares. “There is a fantastic network of like-minded people, the HQ team is always on hand to help out and there are many initiatives and excellent training courses. The training that Sourced provides has broadened my horizons and I learned various ways to make money from property that I didn’t know.”
