The Flatfinder Site – No1 site for flats

We are working with Direct Sourcing Ltd and the Flatfinder site

Using our partnership with Direct Sourcing we are offering a flat finder service for investors. Allowing investors to check out local flats in Aberdeenshire, buy flats, survey and cost for renovations prior to reselling or letting as part of their portfolio.

Find out more at: https://www.flatfinder.site/ads

Other features of the Flatfinder site project:

1. We are offering our service as a social housing option for low income families
2. Direct Sourcing Ltd is acting as a SPV (special purpose vehicle)
3. Direct Sourcing will purchase and manage primarily flatted property
4. Genius Renovate Limited will provide all surveys, renovation and maintenance
5. The project will be reviewed each year and adjusted to suit the market
6. Our approved factor will source tenants and arrange reactive maintenance
7. We will also offer HMO and holiday lettings
8. Any programmed maintenance will be carried out by the Genius Renovate teams
9. Genius Renovate and Direct Sourcing will share the profits and invest in more property

The Flatfinder.site package will be managed by both Direct Sourcing and Genius Renovate.

Wording from our resolution:

“Form a partnership to buy flats to let. Genius Renovate Limited will lodge all profits after expenses into an interest paying client account or savings account named Direct Sourcing Ltd. Genius Renovate Limited will conduct surveys, provide costings, arrange maintenance and source sub contractors for all projects. Flats will be sourced at approximately £30,000. Any upgrades will be completed after one year. Property with an existing long term tenant will be bought where possible. Any new tenants will be sourced by a company approved factor. Rental income after expenses due to Direct Sourcing Ltd will be placed in the interest paying client account or savings account.

The partnership is to be reviewed on 16 November 2024 then annually.”

SHARE URL: https://www.genius-renovate.com/docs/news/23-11-26