The Scottish Property Podcast Player

What really happens when a property deal goes wrong—and who should take responsibility?

Matt Morrison returns to the podcast after completing more than 700 property deals. He also revisits a Borders investment that did not go entirely to plan, sharing his perspective on how the strategy changed from buy-to-let to serviced accommodation, why the refurbishment costs increased and what everyone involved could have communicated more clearly.

Using the original deal pack, emails and costings, Matt explains the difference between the initial £15,000 refurbishment estimate and the final cost of £26,260. He also discusses why the property achieved the £90,000 valuation stated in the original deal pack and the lessons he has taken from the experience.

EPISODE HIGHLIGHTS

• How Matt progressed from around ten deals in his first year to more than 700

• Matt’s perspective on a Borders investment that did not go entirely to plan

• How changing from buy-to-let to serviced accommodation affected the refurbishment

• The emails showing a final refurbishment cost of £26,260

• Why clearer communication between the investor, sourcer and builder was needed

• How the final valuation compared with the original deal pack

• The ten deals Matt identified as having gone off plan

• Damp, delays and a break-in at a £25,000 flat

• Why a Home Report could have exposed non-traditional construction in Dundee

• The Edinburgh flat where RAAC was discovered after purchase

• How dry rot turned Matt’s £12,000 refurbishment into a £25,000–£30,000 project

• Why Matt refunded £1,500 after a buyer’s solicitor failed to submit an offer

• Whether property sourcers need stronger regulation

• The title problem that left Matt with approximately £12,000 at risk

• One flat being valued at £65,000, £45,000 and £70,000 within six weeks

• Growing a portfolio towards 40 properties while managing more than 200 rental units

• Why Matt wants to scale his marketing spend to approximately £20,000 per month

• How he decides which deals to keep and which to offer investors

CHAPTERS

00:00 – Meet Matt Morrison

00:38 – How Matt reached 700 property deals

01:50 – Revisiting a Borders property deal

06:20 – What the original deal pack showed

07:14 – Buy-to-let versus serviced-accommodation refurbishment

08:28 – The final £26,260 refurbishment cost

09:55 – Project management and the builder’s unexpected extras

12:00 – What went wrong with communication

16:18 – Why the £90,000 valuation matched the deal pack

20:03 – The ten deals that did not go to plan

21:06 – Damp, delays and a break-in at a £25,000 flat

22:11 – Why Home Reports matter on off-market deals

24:32 – A three-week refurbishment that took 16 weeks

25:41 – The Dundee flat only one lender would finance

29:14 – RAAC discovered after buying an Edinburgh flat

35:57 – Underestimated refurbishments and hidden dry rot

39:01 – Losing two Edinburgh deals and refunding the fee

42:22 – Should property sourcers be more regulated?

44:39 – The Westfield Court buyback

45:52 – Spending £12,000 before discovering a title problem

49:09 – One flat, three completely different valuations

51:37 – Matt’s business today55:01 – Building a 40-property portfolio

56:35 – Scaling marketing to £20,000 per month

59:30 – Why the same deal does not suit every investor

01:01:18 – Does Matt keep the best deals for himself?

01:02:55 – Matt’s advice for new property sourcers

NETWORKING EVENTS

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SPONSORED BY

Prime Property Auctions — know someone selling a property? You could earn £1,500 just for making an introduction.

👉 https://primepropertyauctions.co.uk/

💬 What due diligence would you insist on before buying through a property sourcer? Let us know in the comments 👇