In Part Two of his five-part series about Purchase Options and Purchase Lease Options, Simon talks you through the ways in which you can flip property without actually buying it, meaning you'll need less cash and make a higher return on your investment.
KEY TAKEAWAYS
Flips typically involve finding properties in need of improvement, working on it so as to increase its value, and then selling on at a profit. This usually involves buying the property at the beginning of the process.
Instead of buying the property, you can control it with a Purchase Option, meaning you don't need a big deposit or mortgage, have no purchasing fees to pay, and can sell within six months.
Finding a motivated seller is key to this strategy. You also need a power of attorney, granting you the right to sell this property on.
You can potentially give your seller more money than from a traditional sale. Your improvements will add much-needed value and increase its sale potential.
BEST MOMENTS
'Flipping property is a great way to make lumps of cash!'
'There is an easier and more profitable way of doing this'
'This is known as an assisted sale'
'This is just one tool in your investor toolkit'
VALUABLE RESOURCES
To download the 8 questions to ask Estate Agents to get them to bring Purchase options and Purchase Lease options to you please visit www.PLOtraining.com
Property Magic: How to Buy Property Using Other People's Time, Money and Experience by Simon Zutshi
To find your local pin meeting visit: www.PinMeeting.co.uk and use voucher code PODCAST to attend you first meeting as Simon's guest (instead of paying the normal £20).
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Register at Mindset For Property at - www.mindsetforproperty.co.uk
ABOUT THE HOST
Simon Zutshi, experienced investor, successful entrepreneur and best-selling author, is widely recognised as one of the top wealth creation strategists in the UK. Having started to invest in property in 1995 and went on to become financially independent by the age of 32.
Passionate about sharing his experience, Simon founded the property investor’s network (pin) in 2003 www.pinmeeting.co.uk. pin has since grown to become the largest property networking organisation in the UK, with monthly meetings in 50 cities, designed specifically to provide a supportive, educational and inspirational environment for people like you to network with and learn from other successful investors.
Since 2003, Simon has taught thousands of entrepreneurs and business owners how to successfully invest in a tax-efficient way. How to create additional streams of income, give them more time to do the things they want to do and build their long-term wealth.
Simon’s book “Property Magic” which is now in its sixth edition, became an instant hit when first released in 2008 and remains an Amazon No 1 best-selling property book.
Simon launched his latest business, www.CrowdProperty.com, in 2014, which is an FCA Regulated peer to peer lending platform to facilitate loans between private individuals and property professionals.
CONTACT METHOD
Contact and follow Simon here:
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