Can I just say what a wonderful interview. This is the first one I have watched that someone is fully transparent and open about a strategy. None of this cryptic talk and tails. Just straightforward, this is how I did it vibe. Thank you so much. So many gems. ❤
Very nice young man. As a freeholder it's nice to see what's in the mind of a lease holder. His got a great business model. What's crazy if you were doing conversations back in the early 1980's. what I sold the flat's for in London 1983 to 1987. Today the lease extension costs more than what the flat's were originally sold for. I knew when I held onto the freeholds I knew they would be worth money one day. Never in a million years did I think I would be getting the money from lease extensions that I'm getting paid in my life. I was thinking it will be in the children's future. It will be interesting to see how the government will compensate freeholders for the marriage value. I hope one day the government can get rid of the capital gains tax in the UK. I now live in Belgium we have no capital gains tax regardless of how many property's you have. Also fixed interest rates for the life of the mortgage. Great insights and vlogs 👏 Appreciate your efforts and hard work bringing us such interesting vlogs.
Great Interview Saj. What Jason is doing is what a lot of old investors been doing in London. The difference is that - they will never shout sbout this strategy. Respect to Jason👍
Everytime I heard the word Leasehold for properties I was just giving up on the topic. It was too complicated. Today all made sense. Jason, great inputs, we really appreciate. Also, might be shocking for those born and raised in the UK, but I know 3 couples that bought flats and they dont even know that in theory they need to give it back one day.
Hi Jason. So for this method to be effective in todays market for North London especially. Let’s say 325k, You’d need to have a 25% deposit for a BTL mortgage on the flat ( 70 year lease remaining to be accepted for the loan ) + the estimated fee’s for extending the lease from a surveyor. (10-20k?) . Do the fee’s for a lease extension or buying a share of freehold increase dramatically under 80 years due to the marriage value on a 325k flat (in the region of 30-40k is that a realistic number based on your experience of buying a share of freehold?) - would you say this is not very effective without a large sum of cash 100-150k & better to look at other strategies like R2R or buying a house in places up north. If I looked at buying on a residential flat and using it to increase the leasehold or buy a share of the freehold to add value in north London does this have a similar effect? Thanks.
@Rhys Newton this strategy works well in the south and south east. Further north houses are cheaper in some parts so it is not worth buying flats. Areas like Kent, Slough, Stevenage, Hemel Hampstead, Reading, Luton, London, Prime Central London, Essex, Watford, etc are where this strategy works very well.
@@rhysnewton the lower the lease below 80yrs, which is the marriage value, the more it costs to extend the lease at a proportional rate not an exponential rate.
Great interview.Thank you both. I had a question on your lease extension surveyor. Would you double check the average with him always? Can you negotiate with the free holder on the lease extension price? Is it a leanthy process ? Thank you
Yes I always double check with the lease extension surveyor before I go ahead and purchase if I don't know the exact price from the freeholder. And yes you can negotiate with the Freeholder if you are not happy with the premium figure.
I have a couple of short lease flats in same block I brought cash a few years ago for about £42k each in my personal name. They have about 18 years left with good rents but prices have gone up to +£60k for neighbouring properties! I want to sell them to my Ltd company then mortgage them. Do I extend lease after the ltd buys them? And how do I calculate cost of lease extension?
I would extend the lease once they are sold to the limited company as the flats will be worth more after you extend the lease. The lower the value of the flat, the less stamp duty and capital gains tax you will have to pay.
Have you ever considered short lease properties?
One of my strategies will be short lease flats. At some point, I will ask Jason for training.
Thanks, Saj & Jason
Can I just say what a wonderful interview. This is the first one I have watched that someone is fully transparent and open about a strategy. None of this cryptic talk and tails. Just straightforward, this is how I did it vibe. Thank you so much. So many gems. ❤
Thanks, who else would you like to see on the podcast?
Very nice young man. As a freeholder it's nice to see what's in the mind of a lease holder. His got a great business model.
What's crazy if you were doing conversations back in the early 1980's. what I sold the flat's for in London 1983 to 1987. Today the lease extension costs more than what the flat's were originally sold for. I knew when I held onto the freeholds I knew they would be worth money one day. Never in a million years did I think I would be getting the money from lease extensions that I'm getting paid in my life. I was thinking it will be in the children's future. It will be interesting to see how the government will compensate freeholders for the marriage value.
I hope one day the government can get rid of the capital gains tax in the UK. I now live in Belgium we have no capital gains tax regardless of how many property's you have.
Also fixed interest rates for the life of the mortgage.
Great insights and vlogs 👏
Appreciate your efforts and hard work bringing us such interesting vlogs.
Thanks for listening ❤
Great Interview Saj. What Jason is doing is what a lot of old investors been doing in London. The difference is that - they will never shout sbout this strategy. Respect to Jason👍
Thanks for listening ❤. Yes your statement is very true.
Thanks for sharing. It's good to get to meet both gentlemen in person.
Everytime I heard the word Leasehold for properties I was just giving up on the topic. It was too complicated.
Today all made sense. Jason, great inputs, we really appreciate.
Also, might be shocking for those born and raised in the UK, but I know 3 couples that bought flats and they dont even know that in theory they need to give it back one day.
Really great interview and what an inspirational success story too.
Thanks for listening ❤
Thanks for the invite Saj. I really enjoyed this podcast. #shortleases #property
Hi Jason. So for this method to be effective in todays market for North London especially. Let’s say 325k, You’d need to have a 25% deposit for a BTL mortgage on the flat ( 70 year lease remaining to be accepted for the loan ) + the estimated fee’s for extending the lease from a surveyor. (10-20k?) . Do the fee’s for a lease extension or buying a share of freehold increase dramatically under 80 years due to the marriage value on a 325k flat (in the region of 30-40k is that a realistic number based on your experience of buying a share of freehold?) - would you say this is not very effective without a large sum of cash 100-150k & better to look at other strategies like R2R or buying a house in places up north. If I looked at buying on a residential flat and using it to increase the leasehold or buy a share of the freehold to add value in north London does this have a similar effect? Thanks.
Also when you mentioned saving 13k and investing to buy another. Did you mean a flat up north? And not including the lease extension?
@Rhys Newton this strategy works well in the south and south east. Further north houses are cheaper in some parts so it is not worth buying flats.
Areas like Kent, Slough, Stevenage, Hemel Hampstead, Reading, Luton, London, Prime Central London, Essex, Watford, etc are where this strategy works very well.
@@rhysnewton the lower the lease below 80yrs, which is the marriage value, the more it costs to extend the lease at a proportional rate not an exponential rate.
@@rhysnewton I will have to check back about the 13k ad I can't remember which part I mentioned this as I did the podcast 1 month ago.
I really like these sit down interviews Saj. Good stuff.
Thanks Russel
Thanks for listening ❤
Great Video Saj & Jason!!
Thank you
Thanks for the listening ❤
Another good and insightful interview 🔥👍🏼
Much appreciated!
Thanks for listening ❤
Quality podcast and very informative.
Great video. I’ve learnt a lot. Thank you. Please keep them coming!
Thanks, will do!
Love these podcasts
Really clear and informative, thank you 😊
Glad it was helpful!
Thanks for listening ❤
Very inspiring
Thanks for listening 🎶 🙏🏿
Thanks for listening ❤. We are trying to inspire and motivate all individuals.
@@jasonpatterson365 Do you have a channel?
Great interview.Thank you both. I had a question on your lease extension surveyor. Would you double check the average with him always? Can you negotiate with the free holder on the lease extension price? Is it a leanthy process ?
Thank you
Yes I always double check with the lease extension surveyor before I go ahead and purchase if I don't know the exact price from the freeholder. And yes you can negotiate with the Freeholder if you are not happy with the premium figure.
I have a couple of short lease flats in same block I brought cash a few years ago for about £42k each in my personal name. They have about 18 years left with good rents but prices have gone up to +£60k for neighbouring properties! I want to sell them to my Ltd company then mortgage them. Do I extend lease after the ltd buys them? And how do I calculate cost of lease extension?
I would extend the lease once they are sold to the limited company as the flats will be worth more after you extend the lease.
The lower the value of the flat, the less stamp duty and capital gains tax you will have to pay.
ua-cam.com/video/rHlE1J9fqKo/v-deo.html in this link are some lease extension calculator links. Go towards the end of the presentation slides.
I did 1 short lease flat and issue was freeholder never was willing to agree a fair price or even close
Why doesn’t the freeholder just buy the leasehold themselves, extend the lease and sell?
Does he have a course?