Just 49 days later, he completed on the purchase of an established letting agency, fully funded by Sourced.
Through Sourced Living’s Assisted Acquisitions Programme, John was able to step into a real trading business with existing income, landlords, tenants, systems and a team already in place.
The result
John’s acquisition included:
• £450,000 purchase price
• 262 managed units
• £293,000 annual turnover
• 100% funded by Sourced
Rather than spending years building a lettings portfolio from scratch, John became the owner of an existing agency with infrastructure already in place.
A faster route into lettings business ownership
For many people, starting a lettings business can feel like a long road.
You need to build trust with landlords, win instructions, find tenants, manage compliance, set up systems and create a reliable income stream.
Sourced Living gives Partners the training, technology, brand and support to do that. But through the Assisted Acquisitions Programme, Partners may also have the opportunity to acquire existing lettings businesses or portfolios.
That means they can step into a business that is already operating, instead of having to build everything from day one.
Why Sourced goes all in
At Sourced, we do not succeed unless our Partners succeed.
That is why we support Partners through the process from start to finish, including identifying suitable opportunities, reviewing the business, supporting due diligence, helping with funding and continuing to guide Partners after completion.
It is not about handing over a brand and leaving people to figure it out alone.
It is about giving ambitious people a faster, supported route into lettings business ownership.
Watch John’s story
In our latest Sourced in the Spotlight interview, we sat down with John inside the agency he now owns.
He shares how the opportunity came about, what the acquisition process looked like and what life is like now as an agency owner. You can watch the full interview here.
For John, it started with one conversation.
If you are curious about what opportunities could be available to you, speak to the Sourced Living team today.
Author
Chris Kirkwood
