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I was delighted to be joined on the podcast by Tina Walsh, a retired police officer and mother of 3, who works full time in her property business alongside her husband Tony.
Together, they are passionate about growing their own portfolio, as well as sourcing properties for other investors through their company, Sanctuary Property Sourcing. The couple are so passionate, in fact, that Tina has taken it upon herself to write the book on property sourcing compliance – something which is desperately needed in the industry.
In this interview, we discuss how, after a rocky start in property investment in 2004 and 2005, Tina came to know everything there is to know about compliance, and what pearls of wisdom she would pass on to prospective investors and sourcers who are new to the industry.
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After an unfortunate start in property investment in 2004 and 2005, just before the housing crash, Tina set up her property sourcing business in January, 2012. Rather than rushing in, she took 10 months to learn how to be legally compliant, which has stood her in good stead as the company’s grown.
Early on, she and her husband crewed for a large investor in Wales, who became their initial mentor, and helped them to immerse themselves in the sector and become the experts they are today. Tina’s early diligence and networking in the industry paid off, as over the course of the following 18 months, they were able to source 8 properties for one investor, and build a lasting relationship.
Five Year Plan
Since then, both Tina and Tony have been able to concentrate on the business full-time, and sourcing is only one element of their Five Year Plan, which includes their own portfolio of properties and a side-line in development.
In the immediate future, they are increasing their cash flow through an investment strategy which involves the purchase of blocks of flats for lease. They’ve recently had an offer accepted on a block of 6 flats, which will allow them ownership over the freehold, as well as control over the maintenance, and provide a great monthly return on investment.
This return will allow them to work on sourcing, not only properties for investment portfolios, but also large tracks of land for the development of care villages, with a long-term view to move further into the development side of the business.
About the Book
With her background in law, Tina has a meticulous understanding of the regulations and legalities involved in the property industry, and Property Sourcing and Compliance: How to Stay on the Right Side of the Law, is written in such a way that the information has been broken down into understandable language, to be a simple guide to becoming compliant for anyone new to the industry.
It also offers advice to investors, on the questions they should be asking to ensure their property sourcer is a professional, and has the depth of knowledge necessary to help them build their portfolio successfully.
So, while it took Tina 10 months to pore over the regulations and legislation necessary to set-up her property business, her new book (coming soon to Amazon) will guide anyone new to the industry through the information they need to become compliant, and make their business a success.
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