Feb 19 2024 13 mins 13
This time the focus is on selling property for more money in the current buyer's market using Purchase Lease Options (PLOs). Simon discusses how landlords can benefit from selling properties to tenant buyers, highlighting the advantages of maximising revenue from the sale while eliminating the hassle of property management.
KEY TAKEAWAYS
- Selling property to tenant buyers using Purchase Lease Options (PLOs) can be a lucrative strategy for maximising revenue from a property sale.
- Landlords who no longer want to deal with the hassle of owning a property but do not need immediate funds can benefit from selling through PLOs.
- Tenant buyers are individuals eager to get on the property ladder but may not qualify for a mortgage immediately, making them ideal candidates for PLO agreements.
- Tenant buyers pay an upfront option fee, demonstrating their commitment to purchasing the property in the future.
- Finding tenant buyers can be done through various methods, such as signage, leaflet distribution, and collaboration with mortgage brokers specialising in first-time buyers.
BEST MOMENTS
"By selling the property on a purchase lease option to a tenant buyer, there are many benefits. First of all, they get rid of the hassle, and that can be very quickly."
"Most landlords, when selling a property, they want to get as much as they can from that property, but they don't necessarily need the money now."
"So how do we find these people? Well, there are lots of ways. First of all, you can always put up a sign in the window of the property or outside the property saying something like, why rent when you can buy?"
"And for the landlord who doesn't want their property anymore, They want to sell but don't need the money right now. Putting a tenant buyer into that property could be a great solution."
VALUABLE RESOURCES
To secure a complementary copy of the chapter on "How to sell to Tenant Buyers from Simon's new book Lease Options Magic visit https://www.leaseoptionsmagic.co.uk/SellPLO
To attend your first pin meeting as Simon's guest visit http://www.pinmeeting.co.uk/, find your local meeting, and at the bottom of the page where you normally pay £20, click on where is says "pay with a voucher code" and use this code: PODCAST. This will by pass the payment page and you can attend your first pin meeting for free.
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).
Register at Mindset For Property at - www.mindsetforproperty.co.uk
Contact and follow Simon here:
Facebook: http://www.facebook.com/OfficialSimonZutshi
LinkedIn: https://www.linkedin.com/in/simonzutshi/
YouTube: https://www.youtube.com/SimonZutshiOfficial
Twitter: https://twitter.com/simonzutshi
Instagram: https://www.instagram.com/simonzutshi/
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.
