“Sourced has created an environment for me to succeed.” – Tim Kampel, Sourced Franchisee
At Sourced, our Franchisees are the heart and soul of our business, the foundation upon which our property ecosystem is constructed. We spoke to one of our many successful Franchisees, Tim Kampel, and found out how he got into property, what attracted him to joining Sourced, and what his hopes for the future are.
Starting His Property Journey
Tim took his first steps into the property world at 18 years old when he secured a position as a trainee negotiator.
His property career developed over the following years as Tim tried his hand in different roles in the sector, including as a branch manager of a letting agency.
In 2008, Tim decided that it was time to spread his wings further and start his own property business. He founded Box Property Solutions – a business that provides Home Information Packs (HIPs), Energy Performance Certificates (EPCs), property photography, and floor plans.
Tim’s success in the property sector resulted in him being chosen as a judge at the 2017 Property Professional Show and, in 2020, he and his Box Property Solutions company won a national award.
However, Tim’s real dream was to get into property development.
Tim first encountered Sourced in 2021.
Though his business was a success, Tim was keen to take the next step in his property career. “I loved my business, I still run it now, but I was eager to move into property development and start working on larger projects”.
In July 2021, Tim started to look into other opportunities, monitoring several over a few months, trying to identify which platform would provide him with the best foundation to start building his property development business.
At the beginning of October, Tim spoke to Sourced’s head office and, just a week later, he met the HQ team and signed up to become a part of Sourced Franchise.
Tim unfortunately missed his initial induction training due to Covid, however, not even a global pandemic could hold him back as he quickly proved his flair for property, selling several deals before his induction had taken place.
In Tim’s words, “There were three key things that made me decide to go with Sourced. First of all, the support and knowledge of the HQ team and support staff was excellent. Where most other platforms offer sales training and not much else, Sourced’s support services were exactly what I needed to get my business up and running.
The second reason was the network that I could become a part of. The network that Sourced has created is the perfect environment to succeed for people who want to build their property career.
The other reason I joined was for the access to capital funding that they offered. I knew that in order to complete the larger projects that I wanted to take on, I would need some financial support. The Sourced Capital arm of Sourced provided the lender capabilities that I needed. I am currently looking for a project where I can utilise this platform, and I have a joint venture opportunity which is pending at the moment”.
Tim’s First Sourced Project
Tim’s Grange Terrace project before and after.
As mentioned above, Tim’s start with Sourced saw him find some successes straight away. As well as selling some deals before his induction, Tim also identified a flip project that he decided he wanted to undertake himself.
The Grange Terrace project saw Tim secure the property for £39,999 plus incentives. The refurb works cost £34,000, and the property received a GDV of £95,000.
The property is now mortgaged with £71,250 paid back out of his next project.
Tim decided to rent the property out and had no problem finding a tenant who is planning on staying at Grange Terrace for 5-6 years. The tenant moved in at £600 per month, which more than covers Tim’s monthly mortgage repayments of £367.
All in all, Tim made a tidy profit of £17,000 from the project and gained a new property for his portfolio.
Tim’s Time to Shine
There’s no slowing down for Tim, he has big plans for the coming year. “I am just waiting for my joint venture proposal to go through and then I can get started on the biggest property project I have ever done!”.
Tim’s joint venture will see a former care home transformed into 27 apartments. An offer of £2.5M was made towards the purchase of the property, with each planned individual apartment valued at £227,000.
The GDV of the property came in at a whopping £6.1M – meaning an overall profit of just over £1M.
“How could most of us take on a project of this size? Sourced provides the education, opportunity, knowledge, and funding!”, says Tim.
As well as his joint venture, Tim continues to source property deals that he can sell on, and still has his eyes out for joint venture, flip, and refurb opportunities.
He has also taken his son on as an apprentice, passing on his knowledge and expertise to the next generation of property developers!
Congratulations on all your success Tim! We can’t wait to see where your property journey takes you, and your son, next!
There’s no better time to start your own property journey than right now! Take your first steps today by downloading our prospectus!