Alex Lowrie - Property Sourcing

12/12/2022

What's New? 🖐️

Quite a few things have changed in my professional life over the last 6 weeks...

In early November, I made the decision to leave my job and embark on the adventure of starting my own business, and becoming self employed! It was a tough decision to make, but I needed a new sense of motivation, and essentially, a kick up the b***y! I didn't want to have the comfort of a fixed monthly salary whilst working in property.

6 weeks in and i'm confident i've made the correct choice. As much as I enjoyed working with my previous employer, there's something different about owning your own company - you have to make it work! Despite still very much being in the construction stage of the business creation, I've made some promising connections and had some fantastic conversations over the past few weeks, which has further instilled in me that this is the best course of action to be taking. I certainly have even more respect for people who have taken the route of setting up on their own, it's a lot of work and the added stress should not be taken lightly!!

The plan has slightly changed since its inception, I'd say it has improved x3..! I'm excited to share the full extent of it when it's up and running in the New Year!

09/11/2022

R2SA Deals Available in....

- Gloucestershire
- Bristol
- Newport
- Cardiff

Interested? Drop a comment below or a DM for more details and a chat! 👋👋

12/10/2022

Viewings, viewings, viewings 👀

I still haven't decided whether I prefer viewing properties as a buyer/on behalf of a buyer, or conducting the viewings as the selling agent... In any case It's great having the perspective from both sides!

I recently went to view a giant block of apartments in deep South West Wales. A fairly sleepy town, but the views were spectacular (see photo). The deal itself was very enticing, an almost 'too good to be true' opportunity on paper. Post viewing we realised financially the deal did in fact stack to the levels we anticipated, however, there were still a few unknowns to be explored! After some further DD and vigorous stone turning, our buyer put forward an offer which was accepted 🙌 I look forward to being able to share more details of the deal once the purchase has reached completion 🚀

If you want to hear about our current opportunities like the one above, feel free to drop me a message 🖐️

11/10/2022

Hello!

I'll admit, I've been a bit of a lurker rather than an active poster recently. I see the value and importance of letting the world know what you are up to.

So, I'm putting it out there, I'm going to make a conscious effort to start posting more frequently! When I look back at the last 6 weeks, many interesting things have happened personally and professionally... watch this space!

09/08/2022

My targets for the year, Q2 update... 🎯

Below are a mixture of my targets for Q2 and my actual achievements:

- 🏡 Source a mixture of 50+ property deals, ranging from R2SA, BTL, BRRs & Developments - Success! ✔️ The emphasis within the company is to find deals as a team, and we are now focussing on quality over quality. We are finding, and putting out new deals every week. Feel free to drop me a message to hear about the opportunities we have!

- 🤝 Build & maintain relationships with agents, co-sourcers, developers & other property professionals in 10 new locations within the U.K. - Success ✅ not sure of the number, but it is well over 10. Since we shifted our attentions to larger purchase and development deals, our main focus has been to create and develop relationships with key contacts in locations U.K. wide. Really enjoying the process!

- 📙 Read 10 books (Target of 20 for the year) - FAIL ❌ Still only 4 down, 6 in 4 months is achievable... suggestions on good reads below!

- 🏢 Complete and exchange on residential property purchase - Success ✅ we're in!

- 🥋 Obtain my first white belt stripe in Brazilian Jiu-Jitsu - Success ✅ I'm now a 2 stripe white belt! It's a great feeling to receive such a an obvious symbol of progression. Other achievements aren't as obvious to see which is why I feel it's important to document and track certain goals.

I have some ideas about what achievements i'd like to achieve for Q3 and Q4, which I will post in the coming weeks. Self accountability is something I would never have done, but i'm enjoying come back to my previous posts and seeing how far i've come, and where I need to imporve

08/08/2022

Current opportunities with Bespoke!

By switching our primary focus to building relationships with developers, agents and land owners, we have acquired some extremely interesting off-market opportunities direct to vendor and direct to mandate. Opportunities include:

- Cash-flowing student apartment blocks in Manchester
- Newly developed blocks and new builds in Manchester, Staines, Chelmsford, North London & Barry
- A huge portfolio sale in Cardiff (7% yield)
- A BMV portfolio of properties in the North East
- Development opportunities in The Valleys, Hertfordshire & North London

We are currently working to secure more opportunities like the above, but also extending to hotel sales, consented and unconsented sites

If you would like more information, email me at [email protected]

22/07/2022

Blocks, Portfolios & Development Opportunities 🏢 🔨

We've been beavering away at Bespoke Sourcing HQ, focusing on building new business relationships with developers, commercial agents and sourcing agents. The hard work is paying off, as we now have multiple apartment block, portfolio & development acquisitions available to our investors.

- The blocks vary in size, some are fully tenanted, others will come with vacant possession. Locations vary from Huddersfield, Sheffield, Manchester, South Wales & Kent

- The portfolio is the biggest deal we have had to date so far. With an 8 figure asking price, the fully tenanted portfolio comes with a 7.3% gross yield plus other eye watering benefits

- The developments vary from commercial to residential to land with planning. Ranging from sites in London with planning for apartment blocks, to commercial to residential opportunities in South Wales

If you would be interested to hear more about these opportunities, send an email over to me at [email protected] with your requirements.

07/07/2022

Investor Requirements ✅ ✅

Our investor base is growing, and we have been commissioned to find them the following:

- Self contained apartment blocks 6-20 units. Most UK locations considered, new build preferred, must be entire block with freehold. Up to £10m

- Commercial conversions for 6 units or more. Greater Manchester, budget up to £6m

- Land with or without planning. Manchester, Liverpool, open budget, 1500sqft minimum

- Self contained blocks 3+ units. Bristol, Bath & Cheltenham. Ideally without studios. Up to £3m

- Dilapidated portfolios with scope to add value. Across the UK considered. 5 or more houses. Open budget

- R2SA Units. Across UK. Houses preferred over apartments. Open budget

If you have anything that meets this criteria, please do get in touch! We are very much open to co-sourcing with other reputable agents!

06/07/2022

SA Transformations 🐸 🤴

One of my favourite aspects of sourcing R2SA units is seeing the transformation of the properties once they have been set up for SA. 🔨🔨

The one shown in this picture was a standard, in need of TLC, 3 bedroom semi-detached house in Bristol. The investor got to work himself with decorations & general maintenance during the negotiated one month rent free period. He then handed the property over to his management company and they expertly set up the unit, matching the chosen colour scheme with hard and soft furnishings. The unit has had consistent bookings in place since it went live at the end of May, and quite rightly so! 💹

If you are interested in discussing R2SA with us, whether you are looking for yourself or are also a sourcing agent, drop me a message! 🖐️

05/07/2022

Co-Sourcer Partnerships 🤝 🤝

We are looking to partner with other sourcing agents who share the same passion for property deals, and more importantly, the same ethos.

Primarily, we are looking for agents who specialise in R2SA to partner with, the demand with our investors for R2SA deals is very strong, and we need to up the supply to match the demand!

If you are interested in working with us, drop me a message so we can arrange a call!

05/07/2022

Post Glastonbury... 🎸 🥁 🎻

It's been over 2 weeks since I last posted on social media. The hiatus is down to me going off to Glastonbury to volunteer for the charity Shelter at one of their many bars across the site! 🍻

I was on site for 6 days in total, worked 24 hours split over 3 x 8 hour shifts, and walked over 80 miles. Since being back, after the 8 hour coach journey back to Bristol...I developed Covid symptoms and was pretty much unable to work for a week - it's been a long 2 weeks! It feels good to be back up and running again! 🤸

My main takeaways from working at Glastonbury are:

- The operation is stupendous. Seeing a brief snippet behind the scenes really opened my eyes to how much goes into the organisation of the festival 🎪
- People will drink anything! £6 for a pint of Carlsberg... unreal 🍺
- I'm not as young as I once was. Staying up till the wee small hours and feeling no repercussions the next day is a distant memory 💀

Good to be back, property posts incoming 🏡

05/07/2022

We are looking to partner with other R2SA Sourcing agents across the UK. We have over 1000 investors interested in R2SA opportunities, and we are struggling to keep supply up with the demand!

If you are interested in discussing Co-Sourcing partnership opportunities with us, please drop me a message so we can schedule a call

Thanks
Alex - Bespoke Sourcing Ltd

■■■■ About us Bespoke Sourcing has a core philosophy of creating an ethical and credible Deal Sourcing practice, with the intention of working with investors for the long-term. Bespoke Sourcing is proud to make property investing professional, seamless and simple for our Investors. What we d...