Just looked at your lease option blog and i am very interested to know how to get letting agents to work with me to source lease option deals. I can see a huge opportunity with recent landlords who have bought overly priced properties in 2005- 2006 with high LTV mortgages needing a lease option as a solution. And i was wondering what the best way would be to work with letting agents to source these sellers.

thanks

Vince

I am a relatively new investor but have set up avenues to to get BMV leads, options leads all sent through to me, the BMV deals I deal with but I get alot of options leads that I would like to use to make cashflow, Ive been reading and there seems an endless amount of different options that are possible, so im unsure of where to start, alot of the options leads are people willing to sell but with not enough equity left in to make it a BMV deal.

Do you run a course or can you advise where i can learn what to do with these leads to make the most of them as could really do with making some cashflow to supliment my BMV deals I would like to do.

Look forward to your response.

Much appreciated

I work primarily in the NE and Midlands area, but am developing links in Manchester and will get back to you on your question.

There are some agencies I can recommend as a good starting point who could work with you.

I am also personally looking to purchase LO props – if you’d like to contact me directly we could discuss that.

I will be available Thursday for a chat. If you send me a contact number I will give you a call then.

Warm regards,

Mark Jackson

I get alot of leads in NI which i dont do anything with. If you would like to receive these leads to see if they are any good to you send me an email BMV7000@gmail.com

I am a retired investor with an established portfolio. but we have too many unprofitable leasehold props, ie new build apartments and they are all mortgaged.

When interest rates rise to say 6% they would become cash flow negative.

The present market is also difficult for a traditional sale.

Is a Lease Option to an existing ( or new ) Tenant Buyer the answer ?

Also would the monthly service charge remain with the Owner for the period of the term ?

Thank you and regards

Ken Ward

We have heard alot about your property option techniques, can you send us some details about this because this is something we would like to
get involved in.

Regards

Richard

Thanks for writing and posing the question below. Great to hear that you are looking to build a lease options portfolio. I will be pleased to give you a few pointers.

To find leads and deals:

It’s good to decide early on if you have the time and energy to generate your own leads and deals or whether you want to buy them.

To generate them means to get a good solid education in marketing and to follow a measured, inexpensive but effective campaign. Leaflets, referrals, simple newspaper ads in small local publications and notes in local shop windows have all brought me excellent results.

You can buy leads and deals through a third party, which can save you a great deal of time. Be careful, though, and always remember to do your own due diligence before committing money to a packaged deal, or even a lead. You may be looking for deals of a certain quality, and often the ones being sold make little financial sense. The best way is always to deal with reputable providers who are known to you personally.

If you would like more specific help to build a portfolio, please feel free to write to me at this address with a paragraph or two about yourself and your property investment goals.

Warm regards,

Mark Jackson

I would like to know a little more about what you want to achieve.

The bank cannot object to an option agreement, so to sell on an option is fine. I would advise the correct procedure is followed in this regard.

Timely monthly payments need to be made and as security the seller may consider paying the mortgage themselves rather than giving that to a tenant buyer.

When giving terms (for instance selling on a 12 month option) it is common to charge a premium – either on the rent or the purchase price, and sometimes both. This compensates for lost interest, but needs to be a win win for both parties. In this case you may want to credit some of the monthly contribution to the purchase price.

12 months for a tenant buyer is a good term

Regards, Mark