International Property Solutions (IPS) was conceptualised in March 2003 and incorporated in March 2004 by Scott Picken.
Scott recognised the opportunity for the business after he and his investment partners experienced enormous logistical difficulties while buying properties in the UK and, in particular, South Africa whilst working full-time in London. Holidaying in SA for a few weeks each year did not afford time for the thorough searches that need to be done to find an investment property with a difference. Even when the properties had been sourced (usually through family or friends), the time consuming, expensive and frustrating purchasing process began: the investors had fairly limited knowledge of the property investment process, and communication between the key participants in the process was poor. The investors did not have their resources organised and thus had to organise the entire process –– from lawyer to accountant to tenant –– whilst holding down senior positions in London. The investors’ experience in buying property in the United Kingdom was very similar; once again time was the biggest issue and the investors did not fully understand the complexities and differences in the British process.
Their overall experience was that procuring good investment properties is a complex and time consuming procedure. Some of the challenges facing potential investors include, inter alia:
Lack of time and resources to source good investment properties;
Lack of time to fully investigate and manage the purchasing process effectively;
Lack of access to finance;
Underestimating the complexity of the process; and
Lack of knowledge about, and access to, the professional support required.
The company was set up as a direct result of their experiences. IPS provides all inclusive property solutions: a vehicle for property investors to streamline the process, reduce the challenges and facilitate effective property investment and property development in South Africa and the United Kingdom.
