Keeping investors in the loop

At Sourced Capital we’ve been working hard to improve our communication with investors and have put a team in place to ensure that you are kept up to date on the projects that you have invested into.

For some investors, they are happy to sit back and wait for their money to come in at the end of a project loan term. For others, they want to follow the project step by step, to understand what their money is being spent on, when and where, but also to learn about the different steps our borrowers take in different types of developments. We like to call it – Earn and Learn. Not only are investors getting their returns on their investment, but they can also learn about property throughout the process, should they wish to.

The different types of updates you may get include:

  • Drawdown statement
  • Monitoring surveyors report
  • Video update
  • 360 tours
  • Image/ roundup update
  • Repayment statement

Drawdown Statements

As an investor, you will receive this document once the project has been drawdown, providing you an overview of the project. This statement will include the following information:

  • Drawdown date
  • Loan term
  • Returns
  • Capital invested
  • Repayment date
  • Security

Monitoring Surveyors Report

If the project you have invested into has a lot of works to be carried out (for example a new build development like the Upper Hoyland project), then there will be a build schedule which will be agreed at the due diligence stage before the project funding has been raised. The Sourced Capital team will request a monitoring survey report before releasing any funds.

Monitoring surveyors are appointed to protect our investor’s capital. In essence, their role is to monitor the progress of the project and approve the drawdown of funds.
Drawing on their experience of building surveying, construction project management and cost management, they undertake a range of activities that reduce the short-term financial risk and seek to ensure the long-term benefit of the completed project.

There will be an initial report, followed by interim reports throughout the project. These reports will:

  • Monitor construction progress with reference to both the programme and the cost plan
  • Monitor the quality of the work being delivered by the contractor and their appointed sub-contractors
  • Approve the interim payments in line with the drawdown schedule
  • Ensure compliance at all stages
  • Approve Practical Completion of the project

Video Updates

On larger projects, Sourced Capital will sometimes take the marketing team to the site to record a video to show the progress. A video can really highlight where the project is up to and can give an investor real insight into the development and what stage it is at. It’s great to see projects come to life.

360 Updates

Dependant on the project size and exit strategy, sometimes borrowers will have a 360 tour of the property created, to show the progress of the property or the end product. Using technology in this way can really show potential buyers of the properties just what it looks like and provides a digital tour – especially in recent times with COVID-19, when the digital world has been more important than ever. Here’s an example of a 360 tour from the High Street, Hull project.

Image/ Round up

In between monitoring survey reports (if the project has them) the Sourced Capital team speak to the borrowers regularly and will get photos of the sites and will even go to visit the sites, to make sure everything is on track. The Sourced Capital team will share these updates via the Sourced Capital platform on the updates page as a pdf with a short paragraph.

Repayment Statement

Similarly to the drawdown statement, the repayment statement is something that investors receive to provide an overview of the project. This statement confirms that a project has been repaid.

As a registered member of Sourced Capital, you can go into each project and view all its updates – whether you’ve invested or not. Having a look at projects and their updates can give you a taste of what you will see when you might invest into your next project. All you need to do to view a project’s updates is:

  1. Register (if you aren’t already an investor)
  2. Log into the Sourced Capital platform
  3. Click a project on the projects page
  4. Click on the updates tab
  5. View all the updates for that project

Keeping you in the loop - project updates

Investors of each project are emailed when there is a new project update. If you’d like to receive extra updates or would like to see a particular type of project update more regularly, please get in touch with us, we love to improve the experience for our investors.

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