HEARTBREAKING 💔 TRUE STORY FROM LAST WEEK... Someone booked a Discovery Call with me last week. It quickly became a confessional and a plea for help. A senior professional who's given me permission to share this story but not his identity. We'll call him 'Chris'. Chris had secured a Derby property at auction based on a recommendation from a "deal sourcer" he met in a WhatsApp group who told him it was a "great investment opportunity." What happened: - Paid the auction deposit - Paid the sourcer £5,000 upfront - Now has 28 days to complete and is asking: "What's the best mortgage rate?" I start asking questions. The picture gets worse. Context: - His first investment property purchase - High earner but lives in London and wants extra income to support his University-bound daughters. - The property? A Victorian conversion in Rose Hill (DE22/Derby) - various structural problems and covenants in the deeds. - Not a standard residential mortgage case - Won't complete in 28 days through traditional lending (never would have) The only option: Bridging finance. ...but it gets worse: The 'deal' isn't even good value. He overpaid in comparison to the area and becuase of his condition it's unlikely to be worth the price he paid. Will he get 75% LTV? Doubtful. Will the valuation match auction price? Unlikely. Will interest and fees destroy 'gaurenteed' returns? Absolutely. The WhatsApp "sourcer"... - Never asked about his investment experience. - Never asked about his personal circumstances (which might dictate appetite for risk) - Never asked some basic questions andnchecked his mortgage eligibility BEFORE suggesting an unconditional purchase (Auction). - Never considered exit strategy and target tenant type. ...they just took his money. A cowboy! 🤠 If he can't complete, he loses: - The auction deposit - The £5,000 sourcing fee - Faces potential legal penalties All because someone wanted quick commission. ❌️This isn't how professional sourcing works.❌️ - We understand WHO we're sourcing for (and because its the law under HM Revenue & Customs - Know Your Client [KYC] ) - WHY we're sourcing and for what goal/aim - WHAT we're sourcing with a strategy (and a backup) and target tenant type in mind - WHERE we support our client through trusted professionals and trades Your hard-earned capital deserves professional standards, not WhatsApp group amateurs. 🔎 If you don't know how to spot the difference - DM me. No sales pitch. Just please use genuine, certified people and avoid the noise! 🔍We Find - 🛠We Refurb - 🏡We Let - 🤝We Manage Buy a hands-off property from £50k. Buy a hands-off portfolio from £200k. Sensible investments, unrivalled support. #propertyinvestment #executiveinvesting #professionalsourcing

Posted by James Lovell-Smith at 2025-09-13 13:31:55 UTC