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Property Sourcing Edinburgh
About our Property Sourcing Service
Our clients come from near and far. As near as Edinburgh and as far as Harrogate, London, Australia, Hong Kong and even Singapore. Each client has a different reason for choosing to engage Quirky Property for Property Sourcing, but typically it’s down to:
- Being ‘cash rich, time poor’ due to busy careers in other industries
- Having little knowledge of property or the local market in Edinburgh
- Living some distance away, making viewing and securing properties difficult
- Having ambitions to grow a portfolio quickly, without being too involved
- Deciding to de-risking growth by engaging a professional rather than learn from mistakes
- Wanting a hands-off investment, both in securing, and ongoing management
Designed to take all the stress out of investing in buy-to-let property, our turnkey service not only finds you the right property, but also manages the sales process, optimises the property and lets it out on your behalf. Leaving you to put your feet up while your investment is hard at work.
Enjoy a totally ‘hands-off’ experience, while we do all the legwork for you. Using our knowledge and market expertise, we’ll identify well-located properties that will attract good quality tenants, provide a low-risk long-term investment and have value added potential to deliver annual rental and capital growth.
Our Property Sourcing service is designed to help you make the most of your investment strategy and take the hassle out of finding your next property. Whether you’re from out of town, just starting out, or a busy property professional who needs hands-on support, we can help. We’ll do the legwork, putting our network and knowledge to work to find the property that is right for you.
As an Investor, you may be looking to invest in residential property in Edinburgh, but do not live in Edinburgh. Without an up-to-date understanding of the local market it can be hard to know which areas to invest in, what size of property, and what standards you must provide to maximise your rental returns. We can be your eyes and ears on the ground and provide you with all the insight and local knowledge you need.
You may be starting out as a Landlord / Investor and need some guidance, or perhaps you are an experienced Investor, but too busy to property source for yourself. Either way, our local expertise can help you build a quality residential investment portfolio in Edinburgh.
We can source a range of properties depending on the investment strategy. If you are seeking a straightforward ready-made investment with minimum fuss, we can find opportunities that are pre-packaged and pre-let. Alternatively, we can source empty properties, or ones in need of refurbishment. Whatever your situation, Quirky Property is on hand to provide a full 360 degree service from initial sourcing and sales, through to lettings and management and all the way through to HMO licencing and project managing of a refurbishment.
Our property sourcing service includes:
- It all starts with a one to one consultation over the phone, video call, or face to face over a coffee, so that we can get to know you and understand your requirements.
- We’ll then help you choose a property investment strategy, discussing criteria such as investment capital, gross yields, risk profile, exit strategy and timescales.
- We will ascertain the types of property you wish to invest in and create a clear understanding of the budget, area, size, tenant type, capital investment required
- We will provide our local expertise in relation to the professional, student and HMO property rental market to match your investment criteria, reducing the chance of you making a poor investment choice.
- During a 12-week sourcing period, we will provide you with a total of 8 investment opportunities matching your investment criteria, both on and off the open market, and provide you links to potential investments.
- If you prefer, we can conduct viewings on your behalf as and when required
- We can create an outline plan where necessary to include refurbishment costs, HMO considerations and guides on expected rental returns.
- Once you have made a decision, we will assist in negotiating the deal with the agent or seller on your behalf.
- We can provide assistance and guidance during the sale progression where required, as well as key collection and holding service on completion.
- Our full 360-degree property service will allow us to ensure your new investment maximises its potential. Our service can include project managing refurbishments, HMO licencing applications, listing the property for let.
Please note we can NOT provide Tax, Pension or Financial advice in relation to your property investments and strategy.
A turnkey service literally means “all you need to do is turn the key”– but in this instance, we even do that for you!
Many of our clients never even visit the property themselves, making it the perfect partnership for armchair or overseas investors who are happy to sit back while we put their investment to work.
In terms of the service Quirky Property offers, it means we offer the total package. As well as finding you the right property and packaging the right deal, our team will take care of the progression, obtain estimates and project manage any works, prepare and let the property and then move the tenants in.
All without you ever having to leave your home.
An ‘On-Market’ opportunity would be a property we have sourced that matches your investment criteria, and typically, the property is advertised on the open market, and listed on portals such as Rightmove.
Quirky Property will be your local property expert, conducting viewings on your behalf with local agents across the whole of the market to identify properties which meet your investment criteria.
“An ‘Off-Market’ market property deal relies on our network of current Landlords, Investors, developers and local agents. We can source a range of properties depending on the investment strategy, be it a professional rental, a HMO or student let. Some investment opportunities may be pre-let creating minimum fuss for you as an Investor.
Some opportunities, whether ‘On’ or ‘Off’ Market, may take further consideration, and there may be more risk attached. Careful consideration must be given to seasonal letting periods, Article 4, and cost of refurbishment. Quirky Property will always provide honest advice as well as expert lettings advice.
Once we fully understand your property purchase criteria, our property sourcing service generally covers:
- An ongoing, rigorous search for properties, both on and off the market, which match your investment criteria, providing you links to potential investments
- We will, over a 12-week period, send you up to 8 potential investments
- If you are happy with any of the opportunities we present, we will then arrange to view the property on your behalf
- We will then feedback our thoughts, based on rental returns, furniture and any refurbishment costs required, and whether there are any risk factors to consider including building issues, rental or location issues or any article 4 and HMO regulations
- Gain quotes for any necessary refurbishment or upgrade costs
- Once you are happy, we can liaise with the vendor or selling agent to negotiate an offer to purchase, and advise on terms of the sale
- We provide assistance and guidance during the sale progression where required
- Key holding / collection service on completion
- Start work to ensure the property is ready for either let/ or refurbishment
If, after an initial chat, you are interested in proceeding with Quirky Property, we’ll arrange to meet in person (or virtually) so we can go through the different options we offer, what the anticipated outcomes would be, what is involved and how we operate.
Our goal is to really understand your needs: what is it that you want to achieve, how quickly you want to achieve it and the risk level you are comfortable at. Once we are agreed, we then move to the next stage.
You will complete the required paperwork and we’ll go through due diligence such as AML and proof of funding. Once this is all done, the deposit is payable, which is 60% of the sourcing cost.
More often than not, we may already have properties that meet your criteria. If not, we will utilise our market knowledge, contacts and database to track down the right opportunity for you.
If you would like us to provide you our sourcing service, please contact our Edinburgh Team on 0131 610 1002.
Thinking of investing in Edinburgh?
If you want to grow your buy-to-let portfolio in Edinburgh, let us take the hassle out of finding your next investment.
Call our friendly team for a chat about your options
The Property Sourcing Process
During an in-depth consultation, we’ll chat through the different options we offer, what the anticipated outcomes would be, what is involved and how we operate.
Our goal is to really understand your needs: what is it that you want to achieve, how quickly you want to achieve it and the risk level you are comfortable at.
Once we are agreed, we then move to the next stage.
You will have a dedicated contact who will be your personal expert, and will liaise with you on potential properties. They will undertake viewings on your behalf and report back – sending photos and videos for your review.
If we think it’s a suitable match, we’ll put together a Deal Analysis for the property, a handy overview sheet detailing the figures for investment, improvement and returns.
Once we’ve agreed on ‘the one’, our team will then seek to agree a optimal purchase price and close the deal.
Our experienced team will arrange to visit the property, and undertake an indepth analysis of the property and identifying any cosmetic and remedial works required.
We’ll undertake a full Optimisation Analysis that includes a specific works lists, contractor estimates and a breakdown of the best ways to improve the property and prepare it for let, utilising materials and finishes carefully chosen to look great and last well.
Once the offer is accepted, we’ll oversee the purchase progression step by step, liaising with the your appointed Conveyancers and Mortgage Broker as required.
We’ll book a survey to check for remedial works and then review the report with an aim to renegotiate the purchase price if required. If you have any questions throughout, we are there to answer them.
The aim is to streamline the purchase process to reach completion in a timely and stress-free manner, before collecting the keys when the completion date arrives.
Works will be scheduled in as soon as practically possible to minimise lost income. On completion, we’ll collect the keys, take meter readings and photos of the property. Our team of contractors will then undertake the scheduled works to the property under our watchful project management, ensuring it’s compliant and has appeal for tenants.
We’ll quality check and handle final snagging, keeping you up-to-date with videos, photos and schedules.
As the project is nearing completion, the Quirky Property Lettings Team will be notified to prep the marketing.
As one of our Property Sourcing clients, the property will automatically receive our Premium Marketing Package, complete with professionally edited photos, a full Matterport Virtual Tour and floorplans.
The Lettings Team will qualify all leads and book in viewings. Once we find you the right tenant, in-depth referencing confirms employment status, earnings, credit score, rental history and right to rent checks. After which, the Tenancy documents are signed and issued along with prescribed information.
You will be notified of the successful completion of the application and the move in date.
You will be assigned a dedicated Property Manager, who will be your point of contact for everything relating to your property such as maintenance, inspections and Tenancy renewals. Their aim is to ensure your property is well maintained and your income secure.
Annual Rent Reviews will take place, inspection reports provided and, when required, the property will be marketed well in advance to minimise void periods (often no more than a week and in Student HMO’s none at all).
Often, the first property is just the start of the journey and at the end of the process, we find ourselves back together at the Strategic Planning stage of the cycle, reviewing the outcomes achieved and looking at the next steps. It might be that you choose to purchase another property, or multiple properties, all without having to leave home. You may decide to refinance, to release funds to purchase further properties.
Or it might be time to plan your exit, in which case we can also handle the sales process for you through our specialist HMO Sales Service, helping you to maximise the sale value of your property, or re-sell to a new investor.
Want to know more?
We’d love to have an informal chat about our process and how we could work together to achieve your investment goals. After which, if you are interested in proceeding with Quirky Property, we can arrange to meet in person or virtually, to go through your requirements in more detail.
Drop us a message with your details and a member of the team will be in touch to discuss further.