Property Sourcers, We need people to go out and source high yielding properties (real eatate) in UK

We pay £50 for every property deal you bring to us which has been properly negotiated.

A. The properties we are looking for

We are looking for houses and flats in the UK that yield at:

9% for single assured shorthold tenancies
12% for houses in multiple occupation (HMO)

The rent to use for the yield calculation can be found by inputting the postcode of the property here: RENT CHECKER

For flats and houses use the number of bedrooms of the property to determine the rent.
For HMOs use the 1 bedroom with shared facilities rate and multiply by the number of bedrooms. For HMOs you can count all additional reception rooms as bedrooms. There must be at least 1 bathroom to every 5 bedrooms.

As a rough guide you can use the following prices to determine whether a property is priced attractively:

AST (Single Lets)
Location	1 bed	2 bed	3 bed	4 bed	5bed
London	£100k	£130k	£160k	£190k	£225k
Within M25	£90k	£105k	£130k	£155k	£175k
Outer M25 (up to 50 miles)	£75k	£90k	£110k	£130k	£150k
Everywhere else in UK (including Wales, Scotland & Northern Ireland)	£50k	£60k	£75k	£90k	£120k
HMOs (min 4 potential bedrooms) i.e. 3 bed 2 reception, 4 bed
Location	Max Price
London	£35,000 per bedroom
Within M25	£30,000 per bedroom
Outer M25 (up to 50 miles)	£25,000 per bedroom
Everywhere else in UK (including Wales, Scotland & Northern Ireland)	£20,000 per bedroom

B. What we pay

For every property you secure for us at

at least a 15% discount to the asking price AND
you get the estate agent to get the vendor to agree to use our solicitor

We pay £50 for each property you find.

The deal has to be structured where the agreed price equals the sales price and the discount off the asking price is expressed as a finders fee. So for example if there was a property advertised for £100,000 and you were able to get the vendor to agree to discount of 15% we would want the deal to be structured as:

Agreed Selling Price: £100,000
Finders Fee: £15,000
Net price receivable to vendor: £85,000

Use the following script if questioned why we need to structure the deal this way or why the vendor needs to use our solicitor:

"I work for a property sourcing company that specialises in structuring no or little money down deals for their clients. For this to work they need the agreed sales price to equal the asking price, the property to value up at the asking price and the discount off the asking price to be paid as a finders fee via the solicitors.

This structure is fully CML (Council of Mortgage Lenders) compliant and full disclosure to all parties is applied. They require the vendor to use their own solicitor, which they pay for, to ensure the transaction is processed smoothly and quickly."

C. What to actually do

Download the 3^rd party sourcer contract and sign and send to enquiries@ahuja.co.uk
Search for properties wherever you wish. This can be Rightmove, estate agents websites, fish4 or the local press.
Offer on properties that yield in excess of 9% or 12% for HMOs at a 15% discount to the asking price.
For properties that get agreed fill out the Property Lead Form and click on submit.
Wait for a response from the Ahuja office to see if it was a successful find and if we are going to issue a report. If we do record it on this invoice and add a £50 charge to this invoice.
Send invoice to hana@ahuja.co.uk for payment making sure you include the addresses of properties you found on the invoice. Invoices should be sent by the 7^th of the month for all properties found the previous month.

Thank you for deciding to work for the Ahuja Group!

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