#203

Buying a leasehold property with less than 80 years left on the lease offers savvy investors the opportunity to add value and force the appreciation in a short timeframe.

This allows you to potentially recycle your cash and turbo charge the growth of your portfolio.

Short lease extensions are equally powerful whether you’re trading for a quick profit or holding for cashflow.

And if you can combine lease extensions with other value adding strategies such as BRR (Buy Refurbish, Refinance) and reconfiguring properties to add more bedrooms, then you can make some serious cash.

Jason Patterson, is a seasoned property investor with over 23 years of experience in UK property.

He built his portfolio from a standing start, from money saved from his job stacking shelves in Sainsbury’s in Camden, North London.

In total, Jason worked at Sainsbury’s for 11 years, and as a side hustle, he almost accidentally focused on leasehold properties with short leases, a niche that would later earn him his nickname as the Short Lease King.

During the episode, we discuss:

o   Benefits of purchasing properties with short leases

o   Explanation of what constitutes a short lease

o   Impact on property value and mortgageability

o   Sweet Spot for Short Leases

o   Discussion on ideal lease lengths for extending

o   Combining short lease strategy with mortgageability

o   Steps to gather lease extension information

o   Importance of contacting freeholders

o   Explanation of Section 42/Leasehold Reform

o   Impact of potential leasehold reforms on buying strategies

o   Handling Vendor Resistance

o   Challenges with uncooperative vendors  

o   Augmenting Short Lease Strategy with Additional Strategies

o   Combining this strategy with BRR and reconfiguration

o  "Triple Threat" properties

o   Criteria and considerations for choosing properties

o   Common mistakes new investors make

o   Reasons why this strategy may suit expats

o   Financial Considerations and Leasehold Reforms

o   The effect of Leasehold reform

o   Impact of leasehold reforms on profitability

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Keywords

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