Property Millionaire Starts Again with Nothing in a Foreign Country (Part 4/4)

so I’ve got seven days to buy a house in the United States of America using none of my own money Oh Terrance and I speak the sword is prepared to give it ours man I mean uncommon I’ll go freakin supposed to do confirm with them every 15 minutes thanks for nothing we have a lease option on it and then he has a renter rent [Applause] [Applause] yeah yeah yeah what would be the most you could accept to live with and what do you think obviously I need to do something to my what were the lowest you can accept and still live with it’s hard because there’s a lot of properties that are really really cheap if we want it cash and we just went for it Milly’s although sometimes 74 we point on performance 60s without the defend you sixty-nine lights over the logo 65-63 system on that or 69 over 60 is that this up is up because as low as you’re pretty close to if we did 1601 but asking you to pay for the transfer fees and stuff that work for you he’s trying to play with numbers if you paid 69 and I could contribute 3% okay so you’re basically saying if we bought in 69 you got off something if you’re really really serious about it right okay if I pay the closing costs or anything right let’s do 86 catch everything pay the closing costs I’ll pay the transfer tax if I don’t would it take from the top needs to be going out the movie you could do it next week well that’s quite cool that’s quite cool lease option agreement will either pay the price that you want but on our terms or we’ll pay the price that we want but

on your terms of fun so if we might listen cash tomorrow yeah we’ve more like a bit about a bit of our work in essays by bit did by occasional attacks whatsoever yeah interesting yeah cap cares yeah this is weekend given that they’ll maybe give you watch 65,000 yeah and then we’ve been completely financed into you and that your offer because ever set up trying but home to other projects at the same time the benefit long is we would do the beefed up in the house and if we if you never hear from us again you’ve got a silly we thought price that’s a pocket always easily say we go to the bank take out three grand fix everything up put tenants back in it you know it’s a plus one three better no I can have a guy come here tomorrow take this back in this whole floor for me and then start painting on Saturday for at least nine hundred dollars in five years how much do you think this place we want oh [ __ ] five years like I said they want a common face no more than that easy work that yeah you want 65 yeah would you be up for any sort of deal any sort of arrangement or any sort of deal with perhaps we come to our new try a higher amount but not straight away it’s a Mike riddle no I’m not ready to like at least one so like maybe I know 85 wait five hundred a thousand in three years but in the meantime what we’ll do is we will essentially be your tenant will give you a monthly rent will give you eight five thousand four in three years no red one your foot now I know it’s early no no just to see what lobby walking me that do the same thing I’m like not just drink air because my team to do I think the cash hmm goodbye more yeah if you got a really good deal on this the cash like a really good deal yeah well we’d have to Christmas that orange to know for sure but if we got it like after 20 at least 20 22 25 ask it like it 150 150 why would you why would you 255 but then not 85 in three years you don’t use the moment yeah and then we know why that you’d be prepared to do a completion do that because I have [Applause] he was just standing in the middle of the road look what the heck is he doing he looked like you wanted to kill me yeah duration like okay no so basically

he’s open to the idea of us taking on his mortgage and everything like we talked about but he’s just got a couple of concerns and what’s to make sure it’s done properly I totally get that that’s cool so what do you mean are you are you around you want to join or maybe meet and just go through all the different ifs and buts and I can talk you through we can I mean I don’t know what you want to do okay yeah I mean we were just leaving Camden it’s a bit of it’s not being great so I think this property would be a lot better I guess we could probably be there about half hour yeah calling forty minutes just in case because it just in case traffic but yeah that’s great and we can have a chat and see what happens so would you do it would you just text me the address again because I can’t remember the exact address and I’m just we’re just in the car and stuff at the moment if you text me the address and and we’ll be there in next 40 minutes I appreciate that man you’re awesome I’ll see you in 40 minutes cheers bro bye bye oh dude I think we’re gonna get a deal yeah so what’s the plan how far is it for me to the problems ahead it should be really really hope that we don’t miss this appointment listen hold on me well that’s what did he say the concerns will were the telephones so if we can put his concern is that we’re gonna bugger off back to UK he turns from the trashed place and I grab you never hears from us again okay we need to meet him if this if we get the agent inside that guy we can 1 billion percent do this I think I mean if we can get Mervyn on our side yeah if Mervyn wants this deal to happen it will happen because the seller is motivated so we need to go over and get him on side big time maybe uh let me do the talking I get why but that means to come on we can afford it I think the thing is what so so what’s the crack then what’s you actually so we happy to do early so concern about everything else the tendons and the you know that the year the five years you know he’s open to him and I still you know a decade obviously so well I his mortgage pleasures his mortgage treatment is roughly just it’s two hundred dollars a month so that’s what it is that you’re selling right yes okay that’s cool what she what she’s main concern was main concern is just the duration I mean that’s the biggest thing the duration of the deal can you get a little extra yeah so I get that okay if we said table give a few thousand hundred for right they will pay him 200 per month to cover is more which and then in five years we’ll give him seventy five thousand pound what he will he be up for that like 350 next 150 bucks long oh he’s gonna get that back in the first he’s gonna get two grand in the first year he’s gonna get an extra it’s six seven runs mm-hmm what are you giving the gal at this deal if we do this how are you gonna get paid oh well the field that I have to give would have to be negotiated and to negotiate anything about that markup would be my fee or you guys can pay me on the society even if that’s something you’re open to but usually if there’s an assignment of these types of deals that’s typically the traditional way but basically and what you’re saying is you would like potentially something up front from us

you know how much money waving a knife up this day if he goes off well we know the Lorraine is approached to make well you tell us you told us 8 to 12 yes that we’ve confirmed with other people this other make neighbors know that my family is basically we’re paying him to depends a month we will win it out and we’ll make that property difference and then in five years this property will point it with a lot more than tell me five yeah and then when we play him 75 will obviously be able to cash in the difference we can even sell it at the end of the term if you want to see if we say if we said to him he’s never doing the extraction before we’ve done if we say to him we’ll take it over the mortgage payments will be the person that makes everything happen and where he kept all of the cash flow all of it so anything above 300 200 well we said we’re gonna give 350 okay we have thought because we don’t only be in 2000 no there’s no no because he that 2000 pound was really for him yeah yes 100% 100% so if we give the vendor also we leave him to own this because if he overs this he’ll make it happen he didn’t care what happen cuz we can’t speak to Sarah be with ya if we say to him look we’ll help you and teach you what a lease option is right you pay the owner 200 bucks a month anything above that you keep but you’re responsible with that money for the maintenance of the property but then at the end of the time we have the option to buy it this is the most complicated agreement a bucket a sphere yeah yeah yeah we have a lease option on it and then yeah we’ll have the option to buy is upstairs and then you married kids where did you live with okay how much money to make come on hold on on average okay how much the boy this is how much you made last month okay so basically it’s been slow because you only get paid when you make a deal right have you ever thought about managing properties managing them you’re just open to making money right and learning new things uh-huh okay here’s the thing if we buy this problems you’re on a lease option agreement we will make really good cash flow every single month okay the problem it is with from our point of view is we’re not we’re not in the area which is also a problem for the owner because he’s thinking all these guys aren’t in the area what happens if there’s bad tenants doesn’t make sense we’re suggesting that we buy on an option but you manage it

and you keep 100% of the cash flow 100% so listen we pay the landlord 200 bucks a month the owner okay then you rent it out how much would you rent this place out for as it is good so you pay him 200 you keep 800 and I mean you might have to pay some costs and stuff but any profit you make you keep 100% and then in five years we’ll buy it for 75 grand that’ll be our option to buy it and then you can continue managing it for us and we’ll give you a percentage of the rent probably but that’s five years you’ll be a millionaire by then I’ll be a millionaire by then I don’t know what do you think okay you need to speak to the owner you need to tell him we’ll pay them 200 bucks a month will bite the 75,000 pounds in five years I’ll give you all the contracts and stuff to do that which he can sign I’ll also send you another memorandum of understanding which we can sign which is what I basically just told you like the bullet points of this conversation and the agreement and you can sign it will sign it then you get that if you can get the seller on board you be sure you should be making at least three four hundred bucks a month and just just for managing it let’s do it done let’s do it Dale man dude you’re freaking awesome awesome absolutely stoked we just sent over the contract to Marvin the broker he has sent it back the deal has been agreed and tomorrow morning we are flying back from New York to London England what a week what a week you know what it’s been an incredible incredible journey I hope that you managed to make sense of what was going on so basically we are buying the house on a no-money-down lease option agreement but the estate agent he is going to be managing it and taking control of it and benefiting from the cash flow it’s the perfect joint venture where also we spoke to Marvin we’re going to be doing more deals with him and he’s learnt so much he’s so inspired he’s now going to be looking to do some lease option agreement himself you know what just blows it on the line but I think the lesson in this is not that I fantastic not at all I actually was a bit of a dummy of this week the real lesson is that was the right knowledge and the right gritty determination any body can make money in the property industry anywhere in the world you just need to take action get the knowledge and go do it Wow look at this well we did it I can’t believe that we did it but we did it what a day to be alive to think when did we found we found you just from zillow and now we’re doing business together so this is gonna be on YouTube are you okay with that are you okay to go on YouTube oh man you know what we’re really killing it in the UK okay we’re here my name is Samuel Samuel Leeds my name yeah yeah we’re killing it in the UK we came to the state we’ve no money yeah yeah you just basically on a on a challenge to try and do a deal with no mama and if it wasn’t for you we wouldn’t have been able to do this deal so you are the friggin man no no no but you know what this is this is awesome and I can’t wait to do business with ya so you’re we’ll just imagine like what’s called a memorandum or sale to go it’s basically just so it just lays like what we’ve agreed you present that to the degree you send those will be your contracts bioscience on their doctors on and that’s what you do anyway yeah then you sign them in the vendor Center and then we send them to the yeah it’s my English it’s my English / so once we’ve got their beefs once I will sign outside give it to the owner Hugh sign it and then we can put them in touch with the is this is this like the strangest agreement you’ve ever made going forward you’re gonna be responsible for pitting tenants in here okay advertising it collecting the rent you can do that corner you’re gonna keep the rain you don’t

have to pee Samuel any rent the only thing you’re gonna need to pay obviously just the basic as it no it’s gonna be as if you own the property the mean to this I’m pilot umpire D and buy them expand in the rain every month just maybe maybe just keep the box by I mean yeah that’s cool man do or something thank you I appreciate this opportunity this is awesome you’re all some breath company UK man yeah come to UK nine thank you so much I appreciate your business I look forward to working with you I look forward to it man we’ll be in touch I’m training a dog my friend