How I Make Money - Step By Step guide to Deal Packaging
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- čas přidán 3. 07. 2024
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Thanks for watching! Will you give deal packaging a go after watching this video? 🏠
Hello there ,
Thank you for your videos .
Are you providing any training for beginners ?
Look forward to working with you Justin
Likewise Steve 🤝
I think one area most deal packagers just starting out don't fully understand is the contracts stage ie memorandum of sale to solicitors, vendor and investor would be good to do a video on the legal's side
Hi Justin, great video. I have a BTL that I may be selling this year and may well use your services to find my next property. What are the best alternatives to sourcing tenants without using a letting agent?
How do you find investors and properties for them?
Thank you for your video, I have been finding amazing deals (was looking for myself) unfortunately I didn’t have investors to back me up. Also the properties went very fast with people bidding and giving more than asking price. Just lost one with 5 offers..
Anyway I enjoy looking for great deals, so I thought I have to learn how to present deals to others? I know my figures for sure like BMV deal analyser … but what else? Where can I learn? To do it right I need to have all information to succeed. Any links or courses you can suggest? Thank you
Hi Justin. im looking to get started in deal packaging/sourcing but still trying to figure out all the steps and processes of it all. would you be able to do a video on negotiating with vendors? for bmv and what the next steps are throughout the whole process please?
Any updates? Looking to start myself
One question i have is, what if you find so many good deals and the client doesn't go ahead with any of them?
What would you estimate the first year start up cost to be? Becoming compliant & going to property events aswell as taking time to investigate properties and investors? Would ypu say its a numbers game or a quality agenda to get of the ground? Am hungry to do this but feel very uneasy about starting with them having to carry the overheads. Love to here from you. Your video was simple to understand Thankyou.
Hi Daniel, in your shoes I would try to find a company that already has an investor database (e.g. PropertyX, or similar). As a company can already have 1,000s of investors looking, where as it could take you a long time to find just a handful of investors. This is an easier way to get started, allowing you to just focus on finding great properties. I would concentrate on viewing and offering volume, whilst building relationships with agents and builders, etc.
Hello Justin, great encouraging video. I am new to this and I am encouraged by everything you said here but I would really like your mentorship in the areas of established compliance even if it means me finding the properties and then sharing the fees with you as long you help get me to the finishing line. Is this something you could help me with???
Hey Michael. Glad you enjoyed the video. Drop me a message on instagram and il see if I can help @justinnwilkins
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Hi Justin, Good overview on sourcing...drop me line I am in the business of directing London investors to Midland deal packagers
Hi Justin great video thanks for sharing. Can i ask how you learnt Deal packaging so what training providers and courses? Where are you based and are you still sourcing? Thanks David
Hi David, yes my business is completely based around sourcing. I have 3 full time staff including me, and this is what we do day in day out for clients! I initially learnt sourcing from a previous mentor, and then developed my own version of the business model as my business grew. I’m based in the south but source properties in the north! 🤝
@@JustinWilkins thanks so much for replying. Do you mind sharing who mentored you? I am just about to start Deal sourcing myself well co sourcing to start as I have no investors yet. Cheers David
@@davidclauss46 Adam who mentored me now travels the world in a van, great guy, he's been on my channel in the past but I don't think he mentors any more. I have a course on deal sourcing, or I can put you in the direction of a more relevant sourcing mentor if you need one!
@@JustinWilkins hey Justin thanks so much for the info. Yes it would be good to have a recommendation of a good mentor please. Thanks for info about your course i have done some paid for ones already though cheers David
What books are good to learn about deal packiging
Not found any unfortunately. Just had to learn this game 2 different ways; 1) lots of action and making some mistakes along the way. 2) I had a mentor at the beginning to help learn the basics
Hi l just staring when l find a house and it’s a good price l tell my investor he has searches done and conveyecing through his legal team once completed l get my finders fee? Is that how it works?
Hi! Companies run this in different ways, some take part of the fee upfront, part on exchange. Some take all the fee upfront and some take all the fee at the end. I do 50/50 as I think it’s a fair balance to the client and my business prior to providing the work.
Where do you find your clients? And why would a buyer pay you £2,500-£5,000 just for sourcing?
Good question. A large portion of my investors reach out to me through social media - usually by joining my mailing list. But in the earlier days I did a lot of networking to try and meet people that wanted my help.
If the property is right, or the deal is right, then in theory anyone should be willing to pay £2,500-£5,000. Even though I run a business in this industry, if someone came to me with a cracking deal and I wanted it, then I’d happily pay their sourcing fee - someone once told me, the fee is irrelevant if the deal is good enough! 😃
I recommend listening to the video from 2:07 where I talk about types of clients. Because there is a huge amount of people out there willing to pay for this service, to save them the huge amounts of time, driving, viewing and making offers.
@@JustinWilkins by sourcing the right deals, I assume you are also guaranteeing your client a positive ROI on their investments? How do you guarantee that all 20 of your deals per year will result in positive ROI?
Another excellent video - thank you Justin. Could you please do a short video on the contractual terms that you have in your sourcing agreements. I can see lots of room for trouble if you don’t have the right contracts. For example, when is the property taken off the market? And how do you prevent the investor cutting you out by him or her going to straight to the vendor and offering them some of your sourcing fee? Any thoughts would be greatly appreciated.
@@AdaptedStudios you can’t guarantee, and you’ll have a far better relationship with the investors if you make it clear you can’t guarantee results. Instead, try to find the best deals possible with plenty of detailed evidence to explain how you came to the end figures (rent, EV and ROI). Give numerous examples, best case / worst case. Then explain to the client that they must also do their own due diligence to confirm your figures - but give them the option to walk away if they aren’t satisfied. I’ve found that makes for the best possible relationship.
@@mohammadcheema7375 thanks for the suggestion! Great idea but unfortunately could be too niche and / or open myself up to issues online! Feel free to send me any questions that you have and il try to help answer them
Hiya Justin, are you able you able to recommend the educational company you chose please?
Mine 🙃
how do you find good deals. i have to to find sa/r2r/hmo deals for a sourcer. how do i proceed. i am new to this way of looking at things