“At Sourced, franchisees are the foundation to which our property eco-system is built on. We caught up with one of our most successful franchisees; Savraj Lotta who is a passionate property investor.
He’s shared his story on how he got into the industry, his journey with Sourced and what the future looks like which hopefully may inspire you to take the leap into property investment.”
Inspiration for Property
From the age of 16, Savraj Lotta presumed he would go into property at a later age as he wasn’t aware of the funding and capital in place to help build a property portfolio. Whilst studying a Bachelor’s degree in Economics, he started to develop his passion for property explaining that ‘’The idea of working in property and growing a property business was really logical to me, the goal for me was to do something myself and make my own decisions.” From this, Savraj started doing flip projects, which he found to be a good learning curve to start out whilst also being able to manage this alongside university.
This was only the beginning as he started to expand his knowledge about the dos and don’ts when it comes to property. He naturally moved onto larger projects and started researching on how to make more money in property which led him to Sourced.
Since joining Sourced
Savraj joined Sourced in July 2021 and within just 8 weeks of joining, he had already secured 3 rent-to-rent properties and had an offer accepted on an HMO. Since then, he’s focused on looking to generate cash flow stating ‘’when I looked at rent-to-rents, this could provide me with my salary alongside buy to lets but sourcing properties was a bonus if I could do 1 to 2 a month. It was also a great way to learn further about property’’. This success with starting out inspired Savraj to push further by wanting to grow his own portfolio even more with larger projects funded by Sourced Capital or joint ventures with Sourced.
Each person’s journey or reasoning as to why they joined Sourced is different but for Savraj, he shared an insight on his rationale for joining Sourced by saying “’What attracted me to joining and growing my business was to not only grow in the short term but be able to work with Sourced for a long period. The training and the networking were extremely beneficial.’’ He goes on further to say, ‘’I’ve learnt so much from different people whether that be franchisees, support people or people at the head office. Being able to talk to people at Sourced and my support person helped me to be more knowledgeable in property and essentially have bigger goals for myself.’’
Savraj also provided some advice as to the type of person a Sourced Franchise would fit best for based off his own personal experience:
‘’I think the best person would be someone who has initial knowledge about property but is looking to learn as much as they can about different property strategies and make use of those. Sourced are big on when you join, you start sourcing and then grow from there. I’d recommend it to those who are seriously looking to grow their business.’’
Details on current/project
In terms of what he’s up to now, Savraj has currently just completed a project based in Cardiff which is a standard flip. The project is a three-bed terrace, bought for £87,000 and he has spent around £18,700 on it with the expectation of the new valuation to be somewhere in the region of around £150,000. Savraj is also working on a commercial conversion to 14 units with a GDV of around £3m. With further projects in the pipeline, Savraj shows no signs of slowing down.
If you’re interested in taking your first steps with Sourced Franchise, download our prospectus today here.