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The Sourcing Roller-Coaster

By 5 December 2020No Comments

I’ve previously mentioned feeling like I was on a roller coaster during my initial training with Sourced. It would appear that it was a pretty good taster of what the life of a property sourcer would be like!

You have the highs such as; securing new clients, agreeing a purchase or sale or collecting the keys for your refurb project. Also it’s great getting feedback from showing a purchaser around a property, getting architect drawings through for your latest refurb and having a great vision on how a development project will turn out (which include the numbers stacking up)! Even just the simple pleasure of chatting with someone who is as enthusiastic as me about the property industry. All of these things are hugely motivational and form some of the reasons why I decided to pursue my career change.

On the flip side…

There are situations when a prospect is not what it seemed to be when you complete due diligence, or you find yourself wading through hundreds of properties to find the right deals. It’s also annoying when you’re a day late finding a property that is ideal for your client, or you receive a builder’s quote that is way more than expected. You get days when offers have been rejected, properties are removed from the market, and the amount of effort it takes to drag deals over the line sometimes can be hard work. Oh, not to mention a lot of conversations about drains than I’d prefer.

And this was all in the space of a few days!

Why did I write this down? A couple of reasons. Firstly, I’m finding writing these blogs quite cathartic, and on days when I’ve maybe had a few doubts about my new career, it’s good to write down the good as well as the bad. Secondly, I think this really shows why property sourcers can be so valuable for an investor. As one of my clients said to me recently “I pay you a fee to deal with all the sh**, do all the hard yards and present me with a good investment”. And I’m happy with that, because so far the highs far outweigh the lows.

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