Understanding Deal Sourcing

Simon delves into the world of property deal sourcing, offering valuable insights for both aspiring deal sourcers and seasoned investors. He covers the importance of finding great property deals, the criteria for identifying reliable deal sourcers, and the essential compliance measures they should adhere to. You will learn how to assess the quality of deals, the significance of having clear buying criteria, and the benefits of networking within the property investment community.  KEY TAKEAWAYS Deal sourcing involves finding investment properties for those who may have the funds but lack the time or expertise to locate good deals themselves. It can be a lucrative opportunity for both investors and aspiring deal sourcers. When looking for a deal sourcer, investors should assess their recent deals, training background, whether they keep some deals for themselves, and their compliance with industry regulations, such as membership in the Property Redress Scheme and registration with the ICO and HMRC. Investors should be cautious of deal sourcers who request upfront payments to find deals. Instead, it's advisable to pay a reservation fee for specific properties once they are identified, ensuring that the investment is based on tangible opportunities. Both investors and deal sourcers need to conduct thorough due diligence. Investors should clarify their buying criteria to act quickly on good deals, while deal sourcers should vet potential investors to ensure they are financially capable and serious about purchasing properties. Currently, there are more sellers than buyers in the market, creating opportunities for both investors and deal sourcers. Engaging in deal sourcing can be a profitable venture, especially for those willing to put in the effort to find and pass on quality deals. BEST MOMENTS "If you're finding great deals that you don't want, instead of wasting those, why not pass them on to other investors and either get paid a fee for that." "A good deal sourcer will have a one-page summary of each deal they found saying why it is a good deal." "If you are selling property to someone, unfortunately, a lot of people use property as a way of laundering money." "My very strong recommendation is do not pay anyone any money up front to find you deals." "Finding deals that you don't want and passing them on to other people is a great way to make extra money." VALUABLE RESOURCES If you want to learn more about how to find the best deals in your area, join Simon for an Indepth 90 minute online Master Class. Register here https://property.isrefer.com/go/DSW/Podcast/ To find your local pin meeting visit: www.PinMeeting.co.uk and use voucher code PODCAST to attend you first meeting as Simon's guest (instead of paying the normal £20). Contact and follow Simon here: Facebook: http://www.facebook.com/OfficialSimonZutshi LinkedIn: https://www.linkedin.com/in/simonzutshi/ YouTube: https://www.youtube.com/SimonZutshiOfficial Twitter: https://twitter.com/simonzutshi Instagram: https://www.instagram.com/simonzutshi/ Simon Zutshi, experienced investor, successful entrepreneur and best-selling author, is widely recognised as one of the top wealth creation strategists in the UK. Having started to invest in property in 1995 and went on to become financially independent by the age of 32. Passionate about sharing his experience, Simon founded the property investor’s network (pin) in 2003 www.pinmeeting.co.uk   pin has since grown to become the largest property networking organisation in the UK, with monthly meetings in 50 cities, designed specifically to provide a supportive, educational and inspirational environment for people like you to network with and learn from other successful investors. Since 2003, Simon has taught thousands of entrepreneurs and business owners how to successfully invest in a tax-efficient way.  How to create additional streams of income, give them more time to do the things they want to do and build their long-term wealth. Simon’s book “Property Magic” which is now in its sixth edition, became an instant hit when first released in 2008 and remains an Amazon No 1 best-selling property book. Simon launched his latest business, www.CrowdProperty.com, in 2014, which is an FCA Regulated peer to peer lending platform to facilitate loans between private individuals and property professionals.   This Podcast has been brought to you by Disruptive Media. https://disruptivemedia.co.uk/