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

[email protected]

 

Jon Woodman

[email protected]

[email protected]

 

www.art2arts.co.uk

 

www.roomfortea.com

 

https://www.linkedin.com/in/jon-woodman-27b6894/

https://www.facebook.com/jon.woodman2

 

 

 

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