A service that sells properties and elements of joint venture schemes to investors says it’s seeking to expand after completing on £200m of deals in four years.
Sourced describes itself as helping franchisees to start and build their own property business, identify and fund potential projects or alternatively, to sell them on to other investors and earn a sourcing fee.
It was launched in September 2017 by property entrepreneur Stephen Moss, who was joined by Chris Kirkwood. It now promotes some 250 deals a month which are opportunities identified by franchisees and verified by the Sourced team.
Its peer-to-peer funding platform Sourced Capital funded deals to the value of £10m in 2020, its first full year, and aims to increase that to over £40m in 2022.
The group currently employs over 20 staff at its Warrington headquarters and has now developed its own app.
Kirkwood says: “Running your own property business is an attractive and profitable career option but even for those with some industry experience, it is a big learning curve. One-off training courses are often ineffective because they don’t offer ongoing support people need to put their ideas into practice.
“We recognised there was a gap in the market for a company that could educate entrepreneurs, and help them to identify and complete projects. Sourced offers a property business in a box, allowing them to achieve far higher returns compared to building a property portfolio from scratch.”