Drawing from experience to break the mould of property sales services.
Marcus Moore and Ron Kung are two property entrepreneurs who have come together to provide a new type of property sales service, with end-to-end solutions that are a win/win for both seller and buyer.
How they started in property
Marcus Moore created his own construction business at an early age, growing it over several years. Then in 2020 things changed. When lockdown hit, his construction contracts disappeared but instead of reeling from the impact, Marcus took the opportunity to make a big life change – he and his partner sold up and moved from Aylesbury to Plymouth.
Instead of building for other people, their plan was now to buy property to refurbish. He reached out to find local landlords in the area and met Ron. An experienced investor and deal sourcer, Ron was also owner of a chain of take-aways; Marcus had a builder’s eye along with skill in technology and numbers. Combining their talents, they created Empire Estates Property Solutions.
Auction house and estate agent
Their first venture was a national online auction house called The Hammer Auction House but they quickly realised this wasn’t the best approach for attracting clients who wanted to sell their property. They believed this was because of the perception that the purpose of selling a property through an auction is to achieve a quick sale at a reduced price. Undeterred, they therefore set up an online estate agency as well, under the Empire Estates Property Solutions brand.
In an article in the December 2021 issue, Marcus and Ron share the challenges they faced, and the compliance required for the business.
A non-traditional format
They didn’t want to operate as a rigid, traditional-style estate agent, and so explain how they look at the best exit for a property and how they can structure a deal – ie buy, lease, guaranteed rental, etc – therefore providing the vendor with more options than you generally get through a typical estate agent. They are currently closing seven-eight sales a month.
Initially sourcing HMOs and BTL-type properties, they have progressed to work on larger deals with developers and have also started to specialise in working with funds via family offices, private equity, pension funds etc.
Their approach is to provide an end-to-end solution, packaging deals up with an exit plan in place. They target high net worth buyers who will retain the asset.
The article illustrates details of their latest project, their largest to date with a GDV of £70M+.
Advice for investors
Marcus and Ron explain why you need a plan for what you want to achieve, a structure to underpin the plan and resilience – it’s important not to give up when things get difficult.
“Direct your thoughts, control your emotions, and you will get to your destiny”.
If you want to be inspired about what can be achieved in a short space of time with focus and determination, this article is a truly inspirational MUST read.
To read the full article and details of the case study, subscribe to YPN magazine.
YPN writer and property investor