So, you’re thinking about using a property sourcing company for your next investment? Smart move… or is it?
Let’s break down the good, the bad, and the ugly of working with these firms (of which – bias alert – we’re one). By the end, you’ll be better equipped to decide if it’s the right move for you (and your wallet).
The pros (AKA why you might want to give it a go)
Time is money, and they save you buckets of it
Let’s face it: trawling through property listings, arranging viewings, and negotiating deals is a major commitment. A good sourcing company does all this legwork for you. While they’re out there hustling, you can focus on earning the money that will fuel your property investment business.
They know the market inside-out
Unless you eat, sleep, and breathe property, chances are a sourcing company knows more than you do. They’ve got their finger on the pulse of the market, and will have access to deals that are never marketed publicly.
Discounts? Yes, please!
Some sourcing companies have relationships with developers and agents that can net you a discount: it’s like having a coupon, but for houses. In our case, we secure discounts by buying in bulk – which developers agree to because it saves them time and marketing costs.
They do the due diligence for you
A good sourcing company can save you from accidentally agreeing to buy a money pit by filtering out problematic properties before you even see them.
You should still research their research – but having someone else act as the first filter should give you time and confidence.
The cons (because nothing in life is perfect)
It’ll cost you
No surprises here – sourcing companies aren’t working for free. Their fees can add a chunk to the property price. The trick is to factor in their fee and see if you’re still happy with the deal.
Less control
When you hand over the reins, you’re trusting someone else to find your perfect property. You’ll never be giving up control completely – the final decision is still in your hands – but some people find it uncomfortable, and would rather go it alone.
Fewer fish in your sea
A sourcing company normally won’t restrict themselves to a particular area – so if you have a very firm idea of where you want to invest, you’ll see more deals if you do the legwork yourself.
The trust issue
Let’s be real: not all sourcing companies are created equal. If you’re not careful, you can end up doing a worse deal than you would on your own… or even losing money altogether.
The Property Hub Invest difference
At Property Hub Invest, we’re not asking you to blindly trust us. We’ve been putting our money where our mouth is for over a decade.
Every week, we’re out there sharing our knowledge through our podcast, YouTube channel, newsletter, and even our Sunday Times column.
Why do we do this? Because we believe the more you know about property investment, the better decisions you’ll make. And if those decisions lead you to work with us, great. If not, that’s fine too.
So before you even think about picking up the phone to us, why not check out some of our content? Listen to a podcast episode, watch a YouTube video, maybe even read one of our articles (I promise they’re not all as dry as this one). Get a feel for who we are, how we think, and what we’re all about.
That way, when you do decide to reach out, you’ll do it with confidence, knowing exactly who you’re dealing with.
