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First HMO Conversion Added to the Portfolio

Gabriel Wenner comes from no property experience, but with the help of Sourced, his focus is to build his own HMO portfolio and earn a substantial income from it. Gabriel and his partner, Vanessa, are currently working on a 6 bed HMO conversion project, funded by Sourced Capital with a GDV of around £200,000.

The Franchisee’s Background and Property History

Before joining Sourced in May 2020, the franchisee had no experience in property, apart from attending a few networking events. Gabriel had built a career in video production, working on TV programmes and now he owns his own studio.

Together with his partner Vanessa, they spent the past year gathering knowledge on how to grow a profitable property portfolio. They’ve been utilising the resources that come with their franchise, including a support structure and over 70 training days per year. Our bespoke training courses are exclusive to franchisees, and they are covered by your franchise fee when you come on board with us.

Over the course of last year, Gabriel started sourcing properties, which allowed him to generate some quick cash and helped him come to grips with the basics of property first. However, Gabriel and Vanessa’s main focus is expanding their HMO portfolio for a more long-term and steadier cashflow.

Currently, the franchisees are working on their first 6 bed HMO conversion project, aimed at the professional’s market, located in Barrow-in-Furness. Vanessa and Gabriel spotted this conversion opportunity through social media, by browsing through property related groups on Facebook. Gabriel shares, the vendor of this property was in quite a rush to sell it, and they managed to come to a deal they were both happy with fairly quickly.

Watch the video to find out more.

Are you looking to get into property or to scale your existing property business? Download your copy of the Sourced Network franchise prospectus to find out how Sourced can help you: