Using traditional and digital methods to secure deals
ByRaj Beri, Co-editor, YPN.
I know that we live in a digital world and these days, property sourcing is deemed to be a very digital activity. Apart from the continued use of sites like Rightmove, it also involves using a plethora of online platforms and Apps. Have the more traditional methods of deal sourcing now largely disappeared? If you think so, then you may be missing a trick!
In his article in the April issue of YPN, young investor Tristan Gordon describes two case studies–one sourced using the well-established method of “walking the patch”. The other case study (plus several other deals) was sourced using the tech platform PropertyData to identify potential deals.
For the traditional method of walking the patch, he identified a property that had been neglected and through multiple leaflets/letters, he managed to make contact with the vendor which led to a profitable flip. Using PropertyData’s powerful features he also identified an “outlier”, which was stuck on the market with three agents. This will become a lucrative title split
Tristan’s top tips:
Tip 1:Persistence and consistency–as soon as you stop looking for deals, your lead generation pipeline will stop, so despite challenges and hurdles, just keep going.
Tip 2:If you are just starting out, focus, focus and focus some more.That could be something as simple as“I’ll just flip properties”, so stick with that until you’re successful. Learn from the first deal and then apply the learning to the next deal.T
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