A new online marketplace which will connect property investors to property sourcers across the UK has been launched.
Invesourced, a property investment platform, is the brainchild of two young Welsh property entrepreneurs, who have launched an online marketplace designed to disrupt the way in which property investors find and make decisions around investment opportunities.
Shane Williams, a property sourcing specialist, and Kelly Hopkins, a property investor, met via a business transaction earlier this year. Following comparison of their experiences, they developed an idea Williams had been working on that they believe will revolutionise the sector, with the business now launching with four full-time staff from a headquarters in Caerphilly.
What is it?
Invesourced is described as being an online marketplace connecting property investors to property sourcers across the UK, achieving this by allowing users to share their respective investment profiles and investment opportunities and, ultimately, connect to secure lucrative opportunities. The founders say it represents an 'efficient, streamlined solution' for a market that is 'currently fragmented and sometimes unregulated'.
Professional property sourcers specialise in finding properties (either commercial or residential) that are either undervalued or where the valuation would be substantially increased by a renovation or a change of use. Sourcers also conduct the relevant calculations and package the opportunity to investors in return for a fee, which is typically a percentage of the purchase value.
Property investors can save a lot of time and gain access to deals and opportunities they would not otherwise see by working with property sourcers, but the link between the two is often disjointed. The sides often use WhatsApp groups, social media groups or mailing lists to flag and discuss opportunities.
The new platform is aiming to change that by enabling property sourcers to upload multiple deals, packaged ready for investors. These can then be viewed by multiple investors and filtered by their investment appetite around price, risk, geographic region and type of property.
Invesourced will take a percentage of the property sourcer’s fee, while sourcers will need to be complaint, meaning they will have professional indemnity insurance, an ICO registration, Property Ombudsman or Property Redress Scheme membership and be compliant with anti-money laundering regulations.
The platform is developing a way to assist and work with non-compliant sourcers, which will partly involve mapping out a route to help them become compliant.
The company’s founders each represent one of the two sides of the business model, with Williams a self-taught property sourcer who has been operating independently until now, meeting Hopkins when he sourced a deal for her. Upon discussing their respective frustrations with the market, they revisited an idea Williams had been working on and decided to launch Invesourced.
Hopkins is a keen property investor who juggles this passion while currently being on maternity leave from her role as an accountant for the NHS.
The pair's aim now is to build the business into the go-to online marketplace for property investors and sourcers, making the market more efficient in the process.
“As a professional property sourcer, I have seen first-hand the frustrations and inefficiencies of this market. More than anything, I like helping people," Williams said. "That's why our goal is to make Invesourced, a one-stop property shop, not only advertising the best off-market deals, but also by incorporating a property professional directory and developing communities for both investors and sourcers to share tips and help each other.”
“I truly believe this idea has the potential to achieve that on a big scale. We have already seen strong interest from both investors and sourcers who understand the benefits and the time it will save them. I am excited to be launching this venture with Kelly and feel this will be the start of a much bigger journey for all of us.”
Hopkins added: “We are very excited about this new venture, which we believe has the potential to disrupt but ultimately streamline the property investment market.
“As a property investor currently on maternity leave from my job as an accountant for the NHS, the opportunity arose to get involved in a company whose aim is to streamline the process of property investing. I have seen first-hand the way the market works currently, and I know this will improve the process significantly.
“I felt it was an opportunity too good to miss (albeit at a very busy time in my life). I am very excited to be partnering with Shane to create a possible market game change. We are very ambitious with three staff as well as Shane already working in our new premises. We are already seeing strong interest from both investors and sourcers but we believe this is just the start.”