24 Nov Over £100K Lease Option Profit
A lease option (more formally Lease With the Option to Purchase) is a type of contract used in both residential and commercial real estate. In a lease–option, a property owner and tenant agree that, at the end of a specified rental period for a given property, the renter has the option of purchasing the property.
This large 6 bedroomed property will make me £121K over a 5 year period. Another example of creating a win / win for all parties. The vendor who sold me this property and was rescued from repossession has already made £30K from his previous property (see Edmund close deal) and will make a further £10K from this purchase lease option on completion. The vendor was 65 at the time and retired and these two properties were part of his retirement plans. He was literally on the verge of being repossessed days before I stepped in and paid off his arrears. In total he will now receive £40K from me rather than a kick in the face from the establishment. He is obviously delighted.
Get the details of this Bristol lease option deal here