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The Ups and the Downs of Being a Property Sourcer

By 8 January 2018November 18th, 2020No Comments

a busy desk and a woman holding a hand on her macbook

Starting off in a new job is always difficult, and a complete career change is what I decided to do. I expected the training to go over my head and a lot of it did. But I’ve worked hard to learn and listen to the people who have been there and done property sourcing.

Unlike a normal 9-5 job, when you start out, your head is full of dreams and how quickly you can quit the day job and move away – getting that retirement home and continuing my work from my huge villa in a nice hot country! This is a 5 year plan and I have every intention of achieving it. Currently, I’m sat in my garden enjoying the heatwave that is sweeping the country, and it’s wetting my appetite!

Property sourcing isn’t as easy as you think. If it was easy, everyone would do it. There are a number of ups and downs that should always be considered. You find the perfect deal for an investor, you package it up and you agree the deal. The initial highs are amazing and the thought of a deal dropping is so exciting. It’s like the first drop on the Big One in Blackpool! The adrenaline rushes through your body and your mind is all of a sudden sat at a bar in Spain. A few weeks later, and you’re back in Blackpool on the donkey ride after the deal collapses. That’s life – that’s property!

So, how do you get through these ups and downs? You must come to terms with the reality that deals may collapse for a number of reasons. Most of the time, there is nothing you can do about it. The important thing to consider is your pipeline. The more potential deals you have lined up, the greater the opportunity there is to succeed. It doesn’t matter if one deal falls through (no matter how disappointing it is) if you have more to work with.

Dealing with negativity is also part of being a property sourcer. We’ve found recently that people unsure about a sourcing network are popping up and are starting to ask questions. Questioning a company and its services is part and parcel of life. It is understandable and actually important for investors to ask. They need to know who you are and what you can offer them. It’s when people question you in order to attack you that is the hard one to take…

If you’d like to learn more about the life of a property sourcer, get in touch at [email protected].

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