Meet Sandra George, Sourced Franchisee, who back in 2021, made the decision to leave her job at the university and turn her passion for property into a business.
Her goal was to home educate her son, so she was looking for a business opportunity that would allow her to work from home, all whilst being part of a supportive community.
Sandra evaluated numerous franchise opportunities, but Sourced captured her attention.
“From all the options I looked at, Sourced is the most switched on, in terms of the level of support and the training,” Sandra shares. She further explains, “It helped me fulfil my dream of working in property, while being at home with my son.”
Upon exploring what Sourced had to offer, Sandra was convinced that it was the key to achieving her property-related dreams, thanks to the expertise of our team and a nationwide network of property franchisees.
The expansive network of over 220 franchisees across the country, highlights the distinct advantages and resources that made Sourced stand out.
Sandra's First Project
Sandra’s first project was marked by a bold decision. Despite her limited hands-on experience in property development— she chose to embark on a challenging project.
Opting for a property flip as her first venture, Sandra demonstrated her willingness to dive deep into the world of real estate. Her journey began with a comprehensive “Flips and Refurbs” training course at Sourced HQ, equipping her with the necessary skills and knowledge to tackle her ambitious project: transforming a 3-bedroom detached property into a 4-bedroom family home. This included adding an extra bedroom and renovating the kitchen and conservatory, aiming to increase the property’s market value for resale.
Financial Support and Guidance
Sourced’s support extended beyond training; it also provided financial backing through its peer-to-peer platform, Sourced Capital.
Sandra’s experience with the funding process was notably positive.
“The funding process was amazing and personal. I was in constant contact with different members of the Capital team, which is different from borrowing from a bridging company or a bank.”
This personalised approach, coupled with Sourced’s rigorous due diligence, instilled confidence in Sandra, enabling her to secure a loan based on 70% of the Gross Development Value (GDV) of the property.
This financial leverage meant she had ample funds to execute the renovation, with the purchase price set below market value at £190,000 and a renovation budget of £20,000.
Sandra’s first project sold for £32,000 more than the initial valuation, making her a take home profit of £17,000.
Future Goals
Motivated by her initial success, Sandra is now setting her sights higher for future projects.
She plans to acquire two properties with the ambition of converting them into flats, a project for which she is currently enhancing her skills through additional training in rent-to-rent and serviced accommodation at Sourced. Her long-term vision extends beyond flips and conversions; Sandra aims to build a portfolio of rent-to-rent properties, particularly focusing on serviced accommodations, demonstrating her commitment to diversifying and expanding her property business.
Sourced: A Platform for Aspiring Property Entrepreneurs
“Sourced is for anyone who has a passion for property or wants to build a property business,”
The franchise is designed to support both novice and seasoned investors by simplifying the complexities of managing a property business.
With access to an extensive pool of knowledge, investor and property leads, and financial resources through Sourced Capital, franchisees like Sandra are well-equipped to bring their property projects to fruition. Sourced’s dedicated support team further aids franchisees in strategising and navigating the challenges of the property market, ensuring a smooth path to success.
Discover more about owning and operating a Sourced Property Franchise. Download more information today.
Author
Sam Clayton
