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Listen "Securing a Long-Term Rental Agreement with a Savvy Mayfair Landlord"
Episode Synopsis
In this episode, Laurence discusses the possibility of renting a property in central London with the option to buy in the future. The property is located in Mayfair, where Laurence explores the idea of locking in a sale price today for a purchase in five years. The property owner is open to the concept but requires a deposit upfront.
KEY TAKEAWAYS
Negotiating a rent-to-buy agreement with a property owner can be a viable option for acquiring high-value properties in desirable locations.
It is important to have the property owner reveal the sale price they are looking for in the future, rather than proposing a number first.
Consider the potential risks and financial implications of putting down a sizable deposit upfront in a rent-to-buy agreement.
Thorough research on the property's value, market trends, and potential for appreciation is crucial before entering into a rent-to-buy agreement.
Setting clear timelines and exit strategies, such as marketing the property for sale if unable to purchase within the agreed timeframe, is essential for managing risks in a rent-to-buy agreement.
BEST MOMENTS
"So it sounds like he's, as you say, getting a little bit older. It's a little bit more hassle for him to manage it. It was an investment and he just basically wants to sell it now. So it's just understanding the reason behind the sale to see whether your option solution can work for him or not."
"Some money sometimes is better than no money at all so we could kind of suggest to him well how about if we just help you rent it out as a holiday let so you can kind of sell it to anyone at any time."
"So the reason that I've kind of pressed him a few times now in wanting him to give me the number of the sale price in five years time is because it would be much better always to get the person to reveal that number to you than you having to figure that out."
ABOUT THE HOST
Laurence Lameche is an Amazon No.1 Best Selling Author of a property book called "How I Bought 3 London Properties For A Football Ticket"
He is a property mentor who specialises in helping people get on the property ladder without needing a mortgage or a deposit, you can have bad credit, no experience, no job and still succeed with his simple, proven step by step process that works every time for everyone.
CONTACT METHOD
Contact and follow Laurence here:
LindkedIn: https://www.linkedin.com/in/laurencelameche/
Facebook: https://www.facebook.com/LaurenceLameche/
YouTube: https://www.youtube.com/@laurencelameche
Twitter: https://twitter.com/LaurenceLameche
Instagram: https://www.instagram.com/laurencelameche
KEY TAKEAWAYS
Negotiating a rent-to-buy agreement with a property owner can be a viable option for acquiring high-value properties in desirable locations.
It is important to have the property owner reveal the sale price they are looking for in the future, rather than proposing a number first.
Consider the potential risks and financial implications of putting down a sizable deposit upfront in a rent-to-buy agreement.
Thorough research on the property's value, market trends, and potential for appreciation is crucial before entering into a rent-to-buy agreement.
Setting clear timelines and exit strategies, such as marketing the property for sale if unable to purchase within the agreed timeframe, is essential for managing risks in a rent-to-buy agreement.
BEST MOMENTS
"So it sounds like he's, as you say, getting a little bit older. It's a little bit more hassle for him to manage it. It was an investment and he just basically wants to sell it now. So it's just understanding the reason behind the sale to see whether your option solution can work for him or not."
"Some money sometimes is better than no money at all so we could kind of suggest to him well how about if we just help you rent it out as a holiday let so you can kind of sell it to anyone at any time."
"So the reason that I've kind of pressed him a few times now in wanting him to give me the number of the sale price in five years time is because it would be much better always to get the person to reveal that number to you than you having to figure that out."
ABOUT THE HOST
Laurence Lameche is an Amazon No.1 Best Selling Author of a property book called "How I Bought 3 London Properties For A Football Ticket"
He is a property mentor who specialises in helping people get on the property ladder without needing a mortgage or a deposit, you can have bad credit, no experience, no job and still succeed with his simple, proven step by step process that works every time for everyone.
CONTACT METHOD
Contact and follow Laurence here:
LindkedIn: https://www.linkedin.com/in/laurencelameche/
Facebook: https://www.facebook.com/LaurenceLameche/
YouTube: https://www.youtube.com/@laurencelameche
Twitter: https://twitter.com/LaurenceLameche
Instagram: https://www.instagram.com/laurencelameche
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