256 - The Ultimate Purchase Lease Option
We welcome back Property Entrepreneur Board member Jon Woodman who was recently voted The Property Entrepreneur Board Member of the Year by his peers, the Board Ryder Cup winner and finally the Board Deal of The Year by his peers. Jon whose company The Accommodation Company is based in Hampshire, provides Serviced Accommodation as well as supporting his local councils with temporary accommodation. We discuss how he was referred to the landlords of 2 semi detached properties, one a 4 bed house and the other 4 flats with a dance studio to the rear. Jon secured a Purchase Lease Option for £1 option fee, for a 5 year period with the option of a further 2 years. Jon has invested £50,000 to update the property and has provided the flats for Temporary Accommodation and the house for Short term lets. £1 option fee ✅ Fixed rent , no increases ✅ Rent deducted from purchase price ✅ Option to extend with no fee and same rent ✅ No increase in purchase price up to 7 years ✅ The figures are: Agreed Purchase Price £1.3m Agreed Rent £4,000 pm (deducted from the purchase price) Gross rents: £16,500 Running costs: £3,000 pm Net profit : £9,500 pm / £114,000 Over 5 years: £570,000 Over 7 years: £798,000 Potential GDV as new build flats: £5-6.5m Potential build costs £2-3m (depending on number of flats) Potential profit £1.5m Want to contact Mark or his guests? www.thepropertybrokerage.co.uk mark@thepropertybrokerage.co.uk Jon Woodman info@theaccommodationcompany.com jon@art2arts.co.uk www.art2arts.co.uk www.roomfortea.com https://www.linkedin.com/in/jon-woodman-27b6894/ https://www.facebook.com/jon.woodman2 Want to learn more? Want to know the ONLY 5 PROBLEMS you need to overcome to become a High Net Worth Property Entrepreneur making 6 and 7 figure annual profits? Click here now to download our FREE PDF report Daniel Hill's brand new, first-ever published book Karma Credits: The Universal Law of Wealth, Health and Happiness can be purchased on Amazon. Click here now to purchase a copy. If you’ve not already joined the 10.9k Property Entrepreneurs for FREE in the Property Entrepreneur Facebook Group, click here to join now: The Property Entrepreneurs Community If you're listening to this podcast but have not yet subscribed, click the subscribe button to listen to what Daniel and other industry leading guests have to say on a weekly basis on all things business, investment property and lifestyle: The Official Property Entrepreneur Podcast Keep up to date with Daniel’s unique and proven Blueprints by subscribing to The Blueprint YouTube Channel now Follow Daniel on Social: Instagram: @propertyentrepreneur_ Facebook: @PropertyEntrepreneurOfficial LinkedIn: @propertyentrepreneur