• Delayed Completion Case Study Part 1 [Audio]

    In this case study I wanted to share with you how I helped one of my mentees to secure a property in one of the best locations in London, near Muswell Hill and walk away with a deal that cost him very little to get in and with a cash flow of £435 every month. This was also his very first deal. To say he’s incredibly happy is an understatement.

    In this post you will see an audio where I was interviewed about this deal and what I did to help my mentee secure the deal. As you may know I have a very hands on approach to working with my clients. It’s what makes them so successful.

    Listen To The Case Study Details [Part 1]

    My mentees name is Vidas Balciunas who had been on several property courses in the past wanted to have the ability to take some real action and decided to join my 1-2-1 mentorship program. This involves some judicious hand holding and accountability. This is vital to success, you see it’s not just about knowledge it’s about taking action.

    As part of my mentorship program I show my students how to find motivated sellers the easy way and it was through one of these tried and tested lead generation methods that Vidas came across this incredibly hot lead

    The motivated seller called Vidas and thankfully he recorded the call. I always advise my mentees to record all their calls for several reasons. Firstly, it enables me to evaluate what the sellers is actually saying. I can hear the tone of their voice. Because of my experience, I can often read between the lines and hear what they are really telling the mentee.

    The other reason is that I can see how my mentee is handling the call and then I can give them feedback on their negotiation skills so they can improve with each call until they know exactly how to handle calls easily and professionally.

    The call was from a professional gentleman who was quite distressed as he was facing repossession in a matter of days. The property was a one bed flat in Muswell Hill in London. Because of the urgency of the call and the imminent repossession, I decided to babysit the deal for my mentee. I knew that we would have to act fast.

    The seller had owned the property for a number of years but had encountered some financial difficulties through setting up his own business which had not been as successful as he had hoped for.  He was currently in arrears on his mortgage to the tune of £8,000 and owed £217,000 on the mortgage. He had tried to sell the property a couple of times for £250,000 which would have been a solution to his problem but both sales fell through at the last minute leaving him this difficult situation.

    The seller had also been arrears twice before but had managed to get back on track as he had a strong emotional attachment to the property and had been desperately trying to keep it but nothing was working out for him and was facing repossession in a few days

    This is fairly typical of many of the desperate motivated sellers that we come across. People do try their best to retain their property but are not sure what to do and with not having the experience or skill in negotiating with Lenders, they often end up being repossessed not knowing that there are options available to them where this can be avoided.

    I realised that there were 3 options available to him – a property lease option, an instalment contract or my preferred choice in the case, a delayed completion.

    See Part 2 of this Delayed Completion Case Study where I reveal how I successfully managed to negotiate with the Lender and create a win-win situation for all through the use of a delayed completion strategy.

    If you want to find out more about delayed completions and other creative property strategies, call me on 0203 397 7030 or arrange a call back 

    About Reena Malra

    Connect with me: Google+ Reena Malra is one of the UKs most successful property investors and mentors. The strategies Reena has discovered and developed over the past few years take the focus off the price and put it on the flexible and convenient payment terms. This is how Reena can structure transactions to really benefit both the buyer and the seller. Reena specialises in property lease options, instalment contracts, rent torent, below market value (BMV), stopping repossessions, joint venture, delayed completion and tenant buyer strategies. She also runsworkshops and webinars, and offers property consultancy services and one-to-one mentoring.

    View all posts by Reena Malra

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    1. Delayed Completion Case Study | Part 2[Audio] | Reena Malra - April 10, 2013

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