£0 HOUSES IN 48 HOURS!
In this year’s Eviction the stakes have been raised a big-time high, with the winner receiving the keys to the Kingdom by a life-changing prize of a whole week’s one-to-one mentoring and financial freedom challenge.
There is more drama and more heartbreak.
Let’s take a look at all the action as participants aim to be the winner of this year’s The Eviction.
This episode’s theme was Lease Option Agreement.
Lease Option Agreement is when you buy a property—which, the participants will be buying—and pay for later. These guys will be buying a property now, and paying for it for seven years. They will gain monthly advantage from it in terms of cash flow.
I guided the participants about what Lease option Agreement was, how they will secure a no-money down deal, and be with them throughout the process. I also told them that my ears and eyes will be with them through Anthony and David.
Both of them are highly experienced property investors, and know what they are talking about.
I guided the participants about the difference between assets and liabilities.
I told them that assets are something that increase in value and give you benefits regularly. Whereas, liabilities are something that decrease in value over time. We are encouraged by the media to spend money on liabilities, and often to buy liabilities now and pay for them later.
For instance, I was offered to buy my hot tub now and pay for it later. That is not a smart move because the hot tub will decrease in value over time, and I’ll still be paying for it on the previous value.
So, who would want to give you their house for free and tell you that you can pay for it in five years’ time?
- The people who have inherited the property and don’t need the money now.
b. People who have negative equity in the property
The people who have negative equity in the property, won’t have any money in their pockets even if they sold the property at full price. So, you can buy the property, tell them you’re going to pay for it in five years’ time, and benefit from the capital appreciation.
After this boot camp, I divided the participants into two teams, and gave them their next challenge: securing lease option agreements in the next fifty hours, and giving me a presentation on the contract they have secured.
The teams had fifty hours to secure a lease option agreement, which is not ambitious at all, considering the fact that the teams had secured more than three-thousand pounds in forty-eight hours.
Both the teams started the work right away, discussed the plan, and started talking to people. David even visited a property and talked to the landlord.
Anthony met with David and team, told them their weak points and strong points, and gave them advice for the game plan. David and team then headed off and talked to more landlords.
On the other hand, Lawson’s team also talked to various landlords and discussed the proposal of lease option agreement. Anthony was with them and guided them regarding what to tell them landlords. They went to Black Pool to view properties. Black Pool is home to one of the least expensive properties; however, there are other socio-economic problems that have to be faced.
According to Anthony, the team had become more experienced by the end of the day. They did not talk over each other, they spoke with conviction to the landlords, and they held their own space.
The teams continued viewing properties, talking to landlords, and negotiating their way to lease option agreements.
After the time was up, the teams returned to the board room.
I talked to both the teams and appreciated their efforts because they managed to get, not just one deal, but multiple deals. They managed to get contracts and positive cash flows.
I talked to Lawson’s team, and asked Fazz about his contribution to the team. From the footage and my discussion with everyone, I saw that most of the weight was on Lawson’s shoulders. Oyin, on the other hand, was sick and couldn’t take part in the challenge. Lawson was safe and permitted to go to the next round.
Fazz said that he expected to be evicted after the round. But he was happy that he got this far. He certainly learned a lot in the competition.
I talked to Andrew, after Fazz and Lawson went out of the board room. I asked him what he thought about Anthony and me thinking that he is the weakest link in the team.
However, Andrew thought that he was the strongest one in the team.
Evans spoke up on this and told everyone that he made at least two-hundred calls, while Andrew didn’t do that. Moreover, Andrew managed to secure only one deal which Evans had got.
Because of the situation, I brought Anthony in to hear his thoughts on the subject.
Anthony said that the advice given was not followed through. The amount of time wasted on opportunities that could have been availed was sad. The other guys managed to close multiple deals, but Andrew did not, and he had amazing opportunities to do so. If Andrew had acted in time and secured the deal, their team could have won.
It was really difficult for me to do it, but I had to evict Andrew after listening and seeing everything.
The hard word, the struggle, and the adrenaline continues in the next episode of The Eviction.
Don’t forget to catch The Eviction on my YouTube channel. And while you’re there, click on the subscribe button and the notification icon.
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