Property and Finance Blog

I am often asked about the power of networking and where can I meet the best property people? The simplest and best way is to get out there and start networking. I have made networking an integral part of my business and many other successful property people do too because they know it works. There is only one place I know of where I will see more property experts and property people every month ….

Just over two years ago a couple from Berkshire had a gathering in a pub for a few ‘local’ investors. With a little help from their friends the first one attracted 50 people. Since then it has grown into a phenomenon!  The Berkshire Property Meet defied the credit crunch and doubled in size in 2008. Last month they had to hold THREE evenings because demand was so high.

One thing is certain – Juswant & Sylvia Rai are totally committed to the success of everyone that attends and it shows in the quality of people that turn up and their willingness to help.

It is also the only place where I will see Rob Moore, Mark Homer, Richard Shepherd, Vanish Patel, Simon Zutshi, John Lee, Vincent Wong, Paul Galbraith, Ant Lyons, Phil Martin & Jim Haliburton in one place – all mixing with 250 other property experts, professionals and novices every month who come from London, Portsmouth, Birmingham, Manchester, Aberdeen and even Toronto.

Start 2010 the way you mean to go on and do come over and say hi to me and my team. We look forward to meeting you there.

Register and book NOW for Jan 2010.

http://www.berkshirepropertymeet.com

Options

This is a great way to get numbers to work when they dont! (BTL that is with
slightly negative cash flow)
Its a great way to get buyers to buy before they are to qualify for a mortgage
(e.g. Buyer with money but new to the UK)

Properties that are for sale and don’t stack can easily be bought on a lease
option for little or no money
Then under better marketing and management rent to a motivated buyer who
has an option to buy it later.

Remember though you will need leads from both sides of the fence.
You need to  find property and you need to have buyers on a rent to own basis
so that you can work on the famous sandwich option  principle.

Sandwich Options

It means you are the meat in the sandwich!
You sit in the middle arranging the vendor and the buyer.
When you have them in place you have a nice deal where you promised to
pay the mortgage and rent out to the buyer.
The buyer pays you a premium e.g. £10,000.00 and  you ask him to overpay some rent
on the basis that they will use some of that overpayment towards the profit.

How Long?

That’s entirely up to you and of course the Vendor. If they are not motivated
to sell short term because they want a better price then you know you can get them to wait longer.So anything from 3
to 15 years is possible.

Profile
How long and who with are also part of the profiles that you need to recognize
when you speak to either side.

Vendor: Should not be in financial trouble and should not be arguing about a
longer term arrangement.
Ideally the vendor just needs the pain of the house or flat removed because
they have to leave the country or generally need to be relocated.

Other scenarios may include:

Divorce but settlement needs to be made later
Financial constraint: Means its easier for the Vendor to allow you to take over the property as its a drain on
his or hers current other commitments e.g. he or she may have moved into a flat
with another person and may want to hold on to the house for their own reasons or security.

Their are dozens of other profiles and I’ll try to cover others in future blogs

The Key

A vendor or a buyer must not be in financial trouble, constraints yes but if
they are about to be repossessed or be made personally bankruptthen don’t take
the option.

You need financial knowledge of both the buyer and the seller must be in good
or fair financial condition.
Taking charge or people on either side who have money issues may well backfire
on you.

Legal advice

Its the vendor who must be sent away  to be advised independently as well . The
buyer should be advised but its not as critical.
Always remember that when an option is taken and it backfires because the
vendor is not aware of an issue it will be your fault.

Why ?because you will be seen as the wheeler dealer not anybody else. So as a
so called expert its up to you make sure your deals are secure.

Your deals are dependent on the vendor and if they don’t take the independent
advice its a loophole for them to be able to retract from the deal.

Leaving you with an angry tenant buyer.

So due diligence is just as important with a lease option as it is for a normal
purchase

Barry Danser

http://www.barrydanser.com

http://www.rentrescue.co.uk

Property Giants
10-12 July 2009
Hilton Metropole Hotel Edgware Road London
PROPERTY GIANTS – AMAZING OFFER FOR BARRY DANSER CUSTOMERS

Property Giants event organiser, Steve Foley is suffering from sunstroke & we didn’t like to take advantage but couldn’t resist & have persuaded him to allow the first 20 of my best customers into the ‘Event of the Year’ – absolutely F.R.E.E
Be Quick – it will be a bunfight
Send Steve an e-mail at steve@econfex.com with ‘PROPERTY GIANTS – BARRY DANSER SENT ME’ in the subject line.
Good luck, and if you don’t make the first 20, it’s still a steal at only £127 for two and a half days, full refreshments and lunches, and the “Meet the Mentors” dinner on Saturday night!
It promises to be the property event of the year: 12 months networking in two and a half days!

http://www.propertygiants.co.uk

Check it out now – you MUST be there
Keep it Real – Estate
Barry

http://www.propertygiants.co.uk

The Hampshire Property Club have organised an
information packed
evening for you this Thursday 2nd July

http://www.hampshirepropertyclub.co.uk

Jim Halliburton will be giving his presentation on
HMO and Multilets  Jim  is an
excellent and knowledgeable speaker,
his presentations are always inspirational.

And there’s more!!!

Prior to the main presentation there will be an
Expert Round Table Event,
where you can meet, talk to and listen to several
experts within the
property industry! I will be there on one of
those tables This is to give you time and space John
to really ask your important questions without
having to jostle through crowds,
or wait in endless queues for a few seconds to
talk.

For all details and to book please go to

http://www.hampshirepropertyclub.co.uk

Look forward to seeing you there!

Rent Rescue

I have to say last year I was rubbished for predicting that in some areas rentals would fall.
I was told that the rental market would improve because people could not afford to buy.

Duhhhh : How can they afford to rent if the decrease in real income and an increase in unemployment
Keeps happening.I feel that rental yields are holding up only because of comparable values being reduced.

The good news is we can rent out your property and give you peace of mind a fixed rental with no hassles and no
extra charges we just send you the money every month.

Apart from the peace of mind of a guaranteed amount, cash flow and some great add ons (we pay for an eviction not you). You have the peace of mind that the people behind this wonderful scheme will be with you every step of the way because if they dont put a good tenant in they will not make any money.

This is a fully managed product we look after all aspects for you.

Avoidance of DSS and no multi lets are our profile. So at the time of writing rent rescue has a few issues so please go to http://www.barrydanser.com/resources down load the application form (give us a try you say no and there is no charge) also download our leaflet.

I hope I can sort out the website but there is a hosting problem email me on info@barrydanser.com and I’ll answer all of your questions.