Running three property strategies at once? Why sourcers stall, and how to narrow down

Most of the sourcers I speak to are running three strategies at once.

Buy-to-lets for the investors who want something simple. HMOs because the yields look better. And a third thing: flips, serviced accommodation, rent-to-rent, title splits or social housing, depending on which course or podcast they found last.

They're busy every day. They're not closing many deals. And they usually think the answer is to work harder.

It isn't. The answer is to do less.

Why three strategies slow you down

Each strategy is really a separate business. It has its own:

• buyers, who want different things and ask different questions

• numbers, with different spreadsheets, refurb costs and lender rules

• contacts: agents, builders, providers, brokers

• marketing, because "BTL in Liverpool" and "HMO in Manchester" are different adverts

Run three and you're building three businesses at a third of the speed. You never get good enough at any one of them for it to feel easy.

It also confuses the people you need. An agent doesn't know what to send you. An investor doesn't know what you're known for. You can't answer "what's the product?" in one sentence, because there are three.

How to tell if this is you

Be honest with these:

• You can't describe what you sell in one sentence with numbers in it.

• You've viewed houses this month that didn't fit any investor you actually have.

• Your social posts jump between strategies week to week.

• You've started learning a new strategy in the last six months before the first one paid you properly.

• You feel busy, but if you add up the hours spent on things that moved money, it's a small number.

Two or more, and narrowing down will probably do more for you than anything else this year.

The fix: pick one lane

Here's the process I use with mentees. It takes about a week.

1. Track your time for one week.

Every 30 minutes, write down what you did. Then sort it into three piles: income-generating, admin, and non-essential. Most people find the income pile is much smaller than they thought. You're not as busy as you feel. You're scattered.

2. Look at what's actually paid you.

Which strategy has brought in money in the last 12 months? Not what you're excited about. What's paid.

3. Pick one strategy and one patch.

The one that's paid, in the area you know best. If nothing has paid yet, pick the simplest one with the most demand from investors you can actually speak to.

4. Park the rest. Don't delete them.

Write the other strategies down somewhere and leave them for six months. You're not saying no for ever. You're saying not yet.

5. Pick two words for the year.

Two words that describe where you're going. Every new project gets one check: does it match one or both? If not, it's a shiny object. Bin it.

What happens when you narrow down

The first few weeks feel worse. You'll turn down things you'd have chased before, and that's uncomfortable.

Then it gets easier. Your viewings are quicker yes/no decisions. Agents start sending you the right houses. Your posts say the same thing every week, so people remember it. Investors can say yes or no in one message.

One deal a month on one strategy you can repeat is a real business. That's the goal.

The honest downside: if the market for your one strategy changes, you'll need to change with it. I've moved from buy-to-lets to HMOs to serviced accommodation to social housing over the years, testing each one with my own money first. Narrowing down doesn't mean never changing. It means changing deliberately, one lane at a time, instead of running all of them at once.

Frequently asked questions

Isn't it risky to rely on one strategy?

Less risky than doing three badly. Get one working and repeatable first. Adding a second is easy once the first runs without you thinking about it.

What if my investors want different things?

Match the product to the investor's budget, not their stated preference. Most investors say "HMO" but mean "hands-off". One well-chosen product suits more of them than you'd expect.

How long should I stay in one lane?

Give it at least six months. Property moves slower than people expect, and most strategies don't show what they're worth in a few weeks.

Want help narrowing it down?

Narrowing, not adding, is what most of my mentoring is about. We look at your numbers, your time and your market, and pick the lane together.

If you're already doing deals and this sounds familiar, book a mentoring call. It's a one-hour video call, and if mentoring isn't the right fit, I'll tell you.