Buy and Sell BVM and High Yielding Deals with Sitefindr
Last updated: 27 Aug 2024
Meet Reshma Thakore
In this episode of Deal Finder's Corner, Guillaume Black, CEO and Co-Founder of Property Filter, welcomes Reshma Thakore, the Co-Founder of Sitefindr. With over a decade of experience in estate agency work, Reshma shares her journey from running a successful estate agency to pioneering a national property platform. Alongside her partner, Hav, Reshma has built Sitefindr to facilitate seamless connections between property sources and investors, ensuring that only high-quality deals are presented.
Reshma delves into the creation of Sitefindr, a platform that has quickly become a go-to resource for investors and property sources alike. The focus is on how Sitefindr maintains high standards of quality and compliance while offering a streamlined process for buying and selling property deals. This article will cover the key points discussed in the episode, providing actionable insights for property investors and sources.
The birth of Sitefindr
Reshma Thakore and her team identified a gap in the property investment market. While working as estate agents, they realised the need for a platform that could offer more than just listings. They wanted to create a space where property sources could present deals that had already been vetted for quality, and where investors could access these deals with the confidence that they were secure and profitable.
"We are pioneering a national property platform designed to match property sources and investors with a focus on presenting only good quality deals that sell really fast."
This vision led to the creation of Sitefindr, a platform that goes beyond traditional property listings. The platform focuses on off-market deals that have been negotiated and secured, ensuring that investors are not wasting time on deals that may fall through.
Why Sitefindr stands out
Sitefindr differentiates itself from other platforms through its rigorous vetting process. Only about 20% of the deals submitted to Sitefindr make it through to the platform. This high standard is what allows investors to trust that the deals they see on Sitefindr are genuinely valuable.
Quality control
Reshma emphasised the importance of quality in property deals. She explained how Sitefindr’s team performs thorough due diligence on every deal before it is listed on the platform. This includes checking the property’s condition, ensuring that the deal is secured with the seller, and confirming that the financials stack up.
"The idea is that Sitefindr will facilitate the qualification and matching of investors and deals while taking care of compliance and all the sales progression. Quality breeds quality."
This level of scrutiny ensures that only the best deals are presented to investors, and as a result, deals on Sitefindr often sell within 48 to 72 hours.
Case studies: Success stories with Sitefindr
Case study 1: Quick flip in South London
A property source submitted a two-bedroom Victorian conversion located in South London. The property needed minimal refurbishment and was ideal for a quick flip. After vetting, the property was listed on Sitefindr. Within 48 hours, an investor expressed interest, and the deal was secured. The refurbishment was completed within three months, and the property was sold, generating a profit of £70,000 for the investor.
Property Type: Two-beds Victorian conversion
Location: South London
Profit: £70,000
Time to Sale: 48 hours to secure the deal, 3 months to complete refurbishment
Case study 2: Probate property in Thornton Heath
Sitefindr helped a property source who had secured a dilapidated four-bedroom house in Thornton Heath. The property was part of a probate sale and had significant potential for redevelopment. Sitefindr facilitated the connection between the source and a motivated investor, and the deal was completed in just two weeks. The investor reaped a profit of £75,000 by reassigning the contract.
Property Type: Four-beds dilapidated house
Location: Thornton Heath
Profit: £75,000
Time to Completion: 2 weeks
Case study 3: High-yielding buy-to-let in Liverpool
A three-bedroom property in Liverpool was listed on Sitefindr as a buy-to-let investment. The property offered an 11% gross yield, making it an attractive option for investors seeking long-term income. After thorough due diligence, the property was secured by an investor within 72 hours of listing on the platform. The investor was able to leverage Sitefindr’s professional services to manage the conveyancing process efficiently, leading to a smooth and timely completion.
Property Type: Three-beds buy-to-let
Location: Liverpool
Yield: 11% gross yield
Time to Sale: 72 hours to secure the deal
The benefits for investors and deal sources
For investors:
Investors using Sitefindr can expect to find off-market deals that are pre-qualified and secured. This means that when they show interest in a deal, they can be confident that the seller is committed and that the deal will go through smoothly.
"Investors can be rest assured that if they're showing interest in a deal, it's pre-qualified and secured, ensuring a smooth and trustworthy process from start to finish."
The platform also provides investors with access to professional services, including solicitors and finance companies, to ensure that the entire process is handled efficiently.
For deal sources:
For those who source property deals, Sitefindr offers a unique opportunity to focus on what they do best—finding and negotiating deals—without worrying about the administrative burden of compliance and sales progression. Deal sources can upload their deals to the platform for free, and if the deal is approved and sold, they earn a substantial fee.
Conclusion
Sitefindr is revolutionising the property investment industry by offering a platform where quality is the top priority. With its rigorous vetting process and comprehensive support for both investors and deal sources, Sitefindr ensures that only the best deals are available, and that the process of buying and selling these deals is as smooth as possible.
If you’re an investor looking for high-yielding, below market value deals, or a deal source looking for a reliable platform to present your deals, Sitefindr is the solution you’ve been waiting for.
