How To Find Lease Option Deals: With only four contestants left, the competition reaches its peak in episode 4 of my property reality show, The Eviction! This time, they have to secure a lucrative purchase lease option agreement with just £1!
From strategic negotiations to jaw-dropping lease deals, if you want to learn all about how to find lease option deals, I highly recommend watching the full episode until the end. You can find the video above or on my YouTube channel.
If you want to get started in property, lease options are a great way to start with little money. Purchase lease option agreements allow you to control a property, with an option to buy it at a fix price in a period of years. You can pay as little as £1 for this option to purchase.
That said, you will still need to pay the seller for use of the property during the option period. However, you can rent the property out at a profit during this time. You can do this by renting the property out room by room or as serviced accommodation. You can then save some, or all, of the profit you make, and use it to buy the property at the end of the option period.
So that is what lease option deals are, but how do you find them? In this article, I will show you how to find lease option deals. If you find this article helpful, please consider sharing it on social media. This is the sort of information that isn’t taught in the education system, so the more people that hear it, the better!
1. How To Find Lease Option Deals: Directly With The Seller
You can find potential lease option deals on online portals such as RightMove. You should start by looking for properties that have been listed for a long time and haven’t sold. Then, look for properties that are listed for below their last sale price. This is a good sign that the seller is in negative equity, meaning that even if they sell the property, it will not fully cover the mortgage. This means they might be open to a lease option agreement, because they just want to get rid of the property.
You can zoom in on pictures on the online property portal of your choice to find the door number. Write to the seller directly and explain what you can offer them.
2. How To Find Lease Option Deals: Estate Agents
Another option is to go through an estate agent. Most estate agents don’t understand lease option agreements, so it is still better if you can speak to the seller. The way to do this is to ask for an evening viewing. Often, estate agents are not available for evening viewings, and you will be dealing directly with the seller.
Even if you make a deal with the seller, do not try to cut the agent out. Offer to pay the agent's commission, as if it was a sale. This is not only the right thing to do, it also means the agent will be more likely to pass you other lease option opportunities in the future.
3. How To Find Lease Option Deals: Marketing
Another way to find lease option opportunities is through marketing. This could include leaflets, posters or paid social media adverts.
You should target areas that have a lot of properties in negative equity. This means areas where property has lost value in recent years. Marketing for deals is a more advance strategy, and you should begin with the first two options before trying it.
How To Find Lease Option Deals And Other Property Strategies
If you want to learn how to find lease option deals and many other property strategies, you will need some training. Why not come and learn from the best? Join me at my next £1 training event
On the course, you will learn how to:
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Become a property investor using other people’s money so that you can get started straight away
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Utilise the 5 different types of raised finance so that you know exactly what to offer and when
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Find the perfect properties for the BRRR strategy
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Recycle your money so that you can ‘rinse and repeat’
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Build a power team you can trust, so that you can save time and money
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And much more!
Tickets are only £1, and you can get yours here. If you are ready to take action, I hope to see you very soon!
