In this episode, Kevin speaks with Shimon Rudich, a lawyer with expertise in lease purchase options and other creative ways of acquiring property. He is also a property investor and the landlord of numerous residential, HMO and commercial properties.

Simone explains how to buy, develop, and earn from multiple properties, even if your credit rating is terrible. Doing so without securing a mortgage first. He shares the details of several of the deals he has made throughout his career. Deals anyone can replicate to secure properties and land that they would not otherwise be able to afford to invest in.

KEY TAKEAWAYS

• It makes sense to have multiple streams of income.
• Lease purchase options are a highly viable way to start making money from properties.
• Lease options enable you to secure the exclusive right to buy a property at an agreed-upon future date.
• Buying a property using a lease option means you do not need to secure a mortgage first.
• With the right agreement, you can live in the property or lease it out before you the final purchase date.
• Look for the win-win and take care of the vendor to secure the best and most deals.
• Options are especially tempting for vendors that are struggling to sell or facing repossession.
• Using lease options enables you to invest in big projects, for example converting a large house into flats.
• Be sure to look beyond what the property is worth now. See the potential, especially the options that add value fast.
• Think out of the box to sweat assets like land. Simone shares an interesting way to do this, in the podcast.
• If you are not paying upfront and can hang onto an asset for years until it accrues substantial value, you can afford to offer the vendor a great price.
• With lease options, you need to understand the difference between an exchange and completion. Simone covers this subject, in the podcast.

BEST MOMENTS

‘A lease option is the right, but not an obligation, to buy a property.’

‘Lease options are a win-win scenario.’

VALUABLE RESOURCES

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The Serviced Accommodation Property Podcast

https://propertysoldier.co.uk/

Rich Dad, Poor Dad by Robert T Kiyosaki

Serviced Accommodation Success by Kevin Poneskis

https://progressivepropertyreferral.com/serviced-accommodation-discovery-day/amb0676

ABOUT THE HOST

Your host Kevin Poneskis enjoys public speaking, travelling, exercising, and keeping fit. He also enjoys working with a charity called STOLL which provides accommodation and training for homeless veterans.

Kevin was in the British Army serving 24 years, mostly in a Commando unit and retired at the rank of Regimental Sergeant Major. He left the Army in 2011 and became a full-time property investor. During most of his Army career, Kevin was investing in property and has been a property investor now for over 27 years.

CONTACT METHOD

https://en-gb.facebook.com/propertysoldier/

kevin@propertysoldier.co.uk