They met through the Sourced network, now they’re splitting £35k profit from one short project.
Ariel had a background in software development and was looking to break into the property sector, Rick’s was in property but joined Sourced for access to our in-house brokerage. They found a perfect investment property: cheap, exempt from stamp duty, and in desperate need of a face-lift. Using skills that they’d obtained from Sourced’s training and education resources, Ariel and Rick didn’t see this three-bedroom, end-of-terrace property in Burnley as a dump, they saw it as an opportunity.
And they were right:
Bought: £80k
Refurb: £35k
Extras: £10k
Projected: £160k
Profit: £35k
If you want see Ariel and Rick’s property progress, click the link here to head to our YouTube!
This 6-month, quick turnaround flip has made them £35k, but the potential doesn’t stop there: it gives them options. If they choose to hold on to the property and rent it out, the rent made each month will make them passive cash while they grow their portfolio. Alternatively, by selling, they make a lump sum of £35k to reinvest in their next joint venture and can continue to watch their profit grow more and more with each project!
Without Sourced, Ariel and Rick would never have met; Ariel would never had received the training and support needed to succeed in property, and Rick wouldn’t have been able to fund his dream property development projects with such ease. Just think about all the opportunities that being a Sourced Property Partner could create for you.
Ariel and Rick’s success is proof of how valuable access to the right education and a powerful network of likeminded property professionals really can be. If you would like to find out more, book a call with us today!