Name of your website?First Time Buyer Network
Your name?
Eileen Francis
Your Location (city, etc)
Sutton Coldfield, Birmingham, United Kingdom
Please give us a short summary of your website?
Support for First Time Buyers to get on the property ladder. In the UK the number of first time buyers has fallen dramatically since the year 2000. We aim to redress this balance by giving first time buyers access to below market value properties. Rent to Buy options are new in the UK but common in the US. We will help first time buyers on to the property ladder by reducing the amount of deposits payable via rent to buy schemes. We will also give them access to our new to be launched website, Cashbackweb, where members will receive cashback for their high street shopping - helping to alleviate their financial worries.
What inspired you to launch your own website?
I have been in the property industry for 10 years as a landlord - many of my tenants complained that they would like to be homeowners rather than tenants - but could not afford it. I thought about my children having difficulty getting on the ladder, so my husband and I launched the First Time Buyer Network in June 2008. We say that there were no other schemes available for first time buyers that would genuinely put money in their pockets and as we had been in the industry for some time we felt we had the experience to help them do so.
When did you launch your first website, and what was it?
Our first website was cash4urhome.co.uk which helped people facing repossession pay of their creditors quickly before they received a default on their credit file.
How did you decide on a name for your website?
We thought the first time buyer network was good because visitors could also meet and talk with other first time buyers on the forum. Also we plan to set up monthly networking events around the Uk where first time buyers can come to meet property professionals and others who are able to guide them into property ownership.
What makes your website different from other, similar offerings?
We have substantial industry experience - 10 years as landlords. We do not just 'talk the talk'. Our work is based on experience not theory. Our service is unique in that we offer repossessions and below market value properties to first time buyers - so we create a 'win - win' situation. Our first time buyers have a property with instant equity and our distressed sellers can achieve a quick sale. We also have the unique ability to allow our member to shop in our online cashbackweb store - instant discounts to high street brands and £5 for everyone who registers! Even better - you receive another £5 for each person you refer!!
What is your eventual goal? (To sell it, keep it for income, secure a book or other mainstream media deal?)
We hope to build the network into a recognisable brand - so all first time buyers know where to go for help - we want to be the first port of call. We are currently writing a book to help first time buyers understand the theory as well and the practice.
How does your investment of time and money balance against your success?
It is early days yet - a lot of time and money has been spent on upfront investment of development and research
If you had an unlimited development budget for development, how would you change your site?
Make it more interactive - with video content, more feeds,live customer service/chat facilities. Set up RSS feed so people could take our feed to their site.
If your site got really big, really quickly, would you be able to keep up with the demand?
Thats a difficult question - we would manage it.
What unexpected costs and headaches have you had to deal with?
Technical site problems - accessing content and copywrite information ( information that is not copywritten) Networking with like minded people who can provide support.
What has been your biggest challenge?
Getting the site up and running. Time taken to develop ideas that were once in your head. Getting everyone on the same page as you hypothetically. Getting newspapers to feature us in editorials.
What method has been most successful for promoting your website?
Website pay per click and newspapers
How has running your website differed from your expectations?
Much more time than expected invested in development and changes.
How long have you run the site already, and how long will you continue to keep it up if you don't enjoy big gains in traffic, income or popularity?
One month - we will continue for the foreseeable future - we try to put our all into our projects.
What do you think of the site?
I love it - let me know your ideas. Thank you for giving me the time to tell you about the project I love, Kind regards Eileen Francis, Sutton Coldfield, UK.
What is your website address?
First Time Buyer Network
