Ep25: What Is The Difference Between Sourcing & Deal Packaging?
When people are first starting off in property sourcing there can be an element of confusion around sourcing and packaging deals, with some people thinking they are the same thing. They are in fact, very different so it is important to understand the difference between sourcing and deal packaging. In this segment Mark shows you:
- The key differences between sourcing and deal packaging
- The benefits of deal packaging
- Why people get involved with deal packaging
- How to get started
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Local vs. Remote Sourcing
There are a wide range of benefits and drawbacks associated to focusing on local sourcing, just as there are with remote sourcing. Weighing up which is the better option for your deal strategy can be a difficult decision but going through the pros and cons of each in this segment should help you to make the correct choice. In this section Mark covers:
- The benefits of local knowledge
- The importance of building relationships with local businesses/contacts
- How to identify whether the area compliments your strategy
- How local relationships are vital for remote sourcing
- Skills that will help you to build relationships with agents remotely
- Mistakes that you are likely to make and what to watch out for
Podcast Episode Highlights
05:15 Insiders Circle Q&A
06:20 Saving time
06:55 Identifying motivated sellers
08:25 Virtual viewings
09:00 Gather information
10:15 Presenting offer subject to info provided
13:30 Estimating refurbs
15:15 Sourcing With Mark – What is the Difference Between Sourcing and Deal Packaging?
16:50 Options to consider after sourcing
17:30 The main differences
20:10 Sourcing, analysing and securing
21:45 Monetising from deals
23:30 Head To Head – Local vs. Remote Sourcing
24:15 Definitions of local/remote sourcing
25:00 Local knowledge
26:00 Local business relationships
27:30 Complimenting your strategy
28:05 Volume of deals
29:00 Selection of areas
30:20 Working with agents remotely
31:15 Common mistakes
33:20 Skills to develop
35:30 Hybrid approach
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