How I acquired this house for £1 using a Lease Option | Vlog

[@kemradon]

Delayed completion option would be a great video 👍😊! Many thanks!

[@TheSajHussain]

Coming soon!

[@prawnk1ng]

This is a really good strategy. It’s like a BTL but with no deposit, just £1.

[@TheSajHussain]

It’s really good

[@ginageorgiou3793]

Brilliant! Thanks for explain so clearly

[@iamactuallyover18]

Interesting video! I can see why that deal would be win win for both parties in that particular circumstance for the seller

[@TheSajHussain]

Definitely!

[@iamshatex]

Thank you for sharing, was just looking into partnering with a company to learn this strategy. Your video uncluttered so much. You earned my sub and share. Do you run a course or mentorship program?

[@TheSajHussain]

Glad it was helpful! Here are a few ways I can help www.sajhussain.com/work-with-saj/

[@usman4772]

Hi saj, what if the vendor doesnt pay their mortgage for some reason, do the bank take the house back? And if so where does that leave you in terms of the lease option on the property? Thanks

[@TheSajHussain]

This requires a long answer, in brief. We pay the mortgage directly to the bank. If the vendor stopped paying then yes the property could get repossessed. The reality is you would monitor what is happening and never let it reach that point.

[@usman4772]

@@TheSajHussain thanks for the reply. I have a large pot to invest in property and have a couple of buy to lets already but im not finding many deals due to inexperience and the current boom pricing me out of the strategies i have knowledge on. I would quite like to invest my pot with someone who has extensive knowledge on these matters and to learn myself in time too hopefully through working with someone like yourself as i really appreciate the content of your particular videos. Do you have a method of contact to possibly discuss further. Thanks again.

[@khanofcaledonia6413]

Please provide more details on lease options and delayed completion.

[@storytimewithanne]

Thank you for sharing you make it look easy :)I am hoping to do this strategy too . if I was too get a lease option will I be able to rent the house and also live in the house myself

[@TheSajHussain]

Thanks Anne, yes it is possible. If you are enjoying these videos, then please do share them with your friends.

[@Cuiositycola]

Thanks a lot for this video. However what happens if when those 10 years have gone and you need to buy the house, but it has increased in value more than you can afford?

[@TheSajHussain]

Thank you for the support, before agreeing you would set a price which in the 10 year period you would buy at.

[@Cuiositycola]

@@TheSajHussain thank you very much for clarifying. Best regards

[@conradsmith7752]

Great informative video but the key question is how do you find these properties or owners willing to do this? I've been looking for months

[@TheSajHussain]

It's about finding motivated sellers. I'll be doing a video on this soon. In the mean you might find this one helpful kzbin.info/www/bejne/p3eoeJqaZ9ilfac

[@จะสอนลูกอย่างไรดีนะ]

Wow, Thank you so much. I can understand more about this property investment.

[@TheSajHussain]

Good to hear my videos are helping you learn! If you haven’t already, then do subscribe to the channel and enable the notification bell so you don’t miss any of the videos as they are released.

[@aftabahmed5104]

excellent Saj could you please help me with paperwork examples, I`m going to look for these types of deals

[@TheSajHussain]

Hi Aftab, keep watching as I'll be doing more videos on this strategy soon.

[@victorruhle8908]

Nice video Saj, My question is when you rent this out to tenants who could become tenant buyers in the future, how do you sell this on to them without involving the estate agency who is presumably looking after the property. Would I need to give the agency a slice of the deal? I live far away from my properties.

[@TheSajHussain]

Victor in my experience this type of deal requires very little management as the tenant buyer has a vested interest in maintaining the terms of the deal (i.e. paying the rent on time and looking after the property). So, a management agency is not necessary. The overall terms would be agreed before the tenant buyer moves in. These include how much they will pay to get into the deal, the monthly payment, the agreed purchase price and the key dates.

[@victorruhle8908]

@@TheSajHussain Saj, I already have the conventional tenants in place. I would like to convert them into tenant buyers. How do I do that without upsetting the agency?

[@TheSajHussain]

@@victorruhle8908 2 things to do. 1, review your agency agreement to see if a fee needs to be paid if your tenant purchases the property. 2, agree win/win terms with your tenant for them to purchase the house.

[@victorruhle8908]

@@TheSajHussain Thanks Saj!

[@TheSajHussain]

@@victorruhle8908 You are most welcome

[@Burning_desire22]

Hi Saj is it better to invest in bigger deals houses when the dip begins rather than buying a few 2 med terrace houses? I think a big deal like a 3 bed semi will appreciate a lot more and will be a lot hassle free. Is this a good strategy, my end goal is to sell up and get into joint venture development in 7-10 years time.

[@TheSajHussain]

A lot of variables need to be considered.

[@Burning_desire22]

@@TheSajHussain Like what, im thinking for my next purchase in the recession make it a big one where say i get somethhing that was worth £200,000 last year for £170,000 in 10 months time, rent it out at a low 6% yield and hoping it appreciates back to £200,000 in 5 years. That way i would of paid off like £30k in mortgage in that time and also have capital gains, Does this sound realistic? I think 70k houses having too many of those is a headache and they dont go up in value much and you lack the quality of the tenants

[@miriamb1904]

Ok, great video, but I still don’t understand if someone wants to get rid of the debt and mortgage(which can be sort straight away after taking property over) why would they accept 10years of waiting to get money for the house? What would be the benefits for them? Am I missing the point or something? Perhaps anyone has some good tips for more videos I can learn and understand better about? :)

[@knownsensesocialmedia7618]

It’s all Good love the sandwich bit too... I heard it’s not legal and some lenders could refuse the mortgage if you were to retain the property because you had a relationship with vendor through lease option? If it’s all good than please recommend me a specialist lease option solicitor.

[@TheSajHussain]

Some Lenders are more difficult than others to deal with. Message me on Instagram or Facebook and I'll connect you with solicitors that understand these transactions. @TheSajHussain

[@millionairemom]

How to find these deals.... and how to word the contract.

[@TheSajHussain]

These strategies work best when the seller is trying to escape the debt/mortgage, maybe because they are in negative equity. That climate is normally created when there are way more sellers than buyers as was the case about 10 years ago. I believe this climate will be back in 2021. There are a few good solicitors that understand these transaction and they will create all the relevant paperwork for you. Make you you subscribe and enable notifications as I will be doing more videos on how to find and do these deals.

[@TraderUDDIN]

How did the seller in debt profit from this by agreeing to hand over this property to you for £1. Its obvious you have managed and took control of all the payments related to the house but what was the sellers profit? Sold the house for £119k. Gave £80k back to the lender.

[@TheSajHussain]

The seller was in negative equity at the point the transaction was agreed.

[@masoodahmed1953]

For lease options what is the amounts the current owners get and how?

[@TheSajHussain]

That's for you to negotiate with the owner. It's all flexible and it's really about looking at their circumstances and what is it that they are trying to achieve.

[@masoodahmed1953]

@@TheSajHussain thanks for the reply. I wonder how do I learn a bit more re this please.

[@SportsZone-qv6qo]

Can you help me to set up a letting agency??

[@navmohindra579]

Wow...inspiring use of LO

[@TheSajHussain]

Thank you Nav

[@moshazza5684]

So to clarify the owner didn't sell it to you. You give them £1 to make it legal and the deal was to pay their debt on house i.e motgage plus other for 10 years with the agreement to buy at end of it ? . So you have no initial major outlay other than refurb and legal costs

[@TheSajHussain]

Hi Mo, the £1 was to take legal control over the property with a right to buy anytime within those 10 years.

[@billysims9284]

saj i raised the 700k for a deal thrn my jv pulls out :? Feels crap

[@TheSajHussain]

Sorry to hear that Billy. Here is a video that will give you some strategies to raise money from private investors. kzbin.info/www/bejne/i2ayYZuai6-bjrM

[@billysims9284]

@@TheSajHussain saj one day if I see you having a meal at a restaurant I will have to pay that bill but yet not reveal myself

[@billysims9284]

@@TheSajHussain i asked you a question on ask saj which changed my life.

[@TheSajHussain]

@@billysims9284 which question was that?

[@umarahmed3113]

Is this halal to do?

[@ChrisBrown1957]

Erm ... £70 a month mortgage on a HOUSE? I pay £100 a week on a BUNGALOW. I(I'm doing summat wrong!)

[@TheSajHussain]

It's been great whilst it lasted. The mortgage is about 20 years old and is 'interest only'. The current rate is less than 1.5%pa hence only £70pcm. When this mortgage was setup the Lenders/Banks never envisaged The Bank of England base rate could be 0.1% as it is today. These mortgage products were designed to be around 1% above base rate.