LIVE! With Shimon Rudich: Lawyer And Property Investor

Register your interest in Serviced Accommodation Discovery Day here, and a member of our team will get back to you to confirm your place at your preferred date.     Shimon Rudich is the guest speaker in this special episode of the Serviced Accommodation Property Podcast. Shimon is a lawyer, solicitor, and a prolific property investor who specialises in multiple acquisition strategies and lease options in property investment.  Shimon joins Kevin to talk about not just the best and most unexpected strategies he has used to acquire properties, but also the best way of making the most of them.     KEY TAKEAWAYS  Lease Option - A lease option is the right, but not the obligation, to buy a property. This can be beneficial if the value of the property increases in the long term. It also means you can offer the vendor a much higher price for the property at the outset, which makes you a far more attractive proposition.  Lease options also mean that you need far less capital at the outset because you have only promised to buy within a certain timeframe. Therefore, as Shimon points out, you can acquire a property, spend a small amount of capital in refurbishing it, and then sell it on at a profit, with minimal initial outlay.  When you are converting a large house into flats, you need space, plus you need to keep the walls in place wherever possible. Through the “Slice And Dice” method of converting a large, older property from a single residence into four flats, Shimon increased his investment greatly, and by having the vision to do so, was able to recognise that offering his vendor asking price was a wise move, as the returns were going to be far greater in the long run.  There are always strategies to be used no matter what the property. Even a piece of unused land can be put to good use with the right thinking. As Shimon points out, if you aren’t making money from Property then the problem is you. There are numerous worthwhile investments out there. We simply need to find them.  Another strategy is to exchange contracts, with the promise to complete in the future. This is similar to a lease option but means you are committing to buy, instead of reserving the right to buy. If you refuse to buy during this period or pull out of the sale, you will only lose your deposit.  If you have only one strategy in acquiring properties, you will not get far. Each acquisition is an opportunity for creativity. Look for the unexpected. Analyse the deal from all angles and form your strategy based on the property’s individual strengths and merits    BEST MOMENTS‘If you don’t make money from property then the problem is you’  ‘You will never learn enough. There is always something new you can learn’  ‘What I pay for a property in the North, you guys pay for a pair of shoes in Kent’  ‘Slice and dice doesn’t refer to Dominos Pizza!’  ‘Have you ever seen someone win at Monopoly by selling?’ ‘Six-digit profit is always better than five’ ‘As long as you have the right attitude, there is often a solution’ ‘If you only have one strategy for acquiring properties you’ll go nowhere’ ‘Acquire as much knowledge as possible, use it, and make a lot of money’   VALUABLE RESOURCESThe Serviced Accommodation Property PodcastMS-Law Solicitors   ABOUT THE GUESTShimon Rudich was born in Italy and has lived in the United Kingdom since 1994. Shimon studied Law at the University of Manchester and was admitted as a Solicitor in 2004.  Shimon has shown a natural flair for Law since his days as a student where he became involved in a successful case attracting national press. Shimon is a knowledgeable and respected property professional with a straight-talking can-do approach. Shimon attends various property events around the UK and lectures on various matters to educate property investors and peers. Shimon is often a keynote speaker and is sought out as the leading legal voice with a local, national and international client base. Shimon is adept in creative strategies for landlords on matters from option agreements to commercial contracts, to the buying and selling of residential or commercial property.  Contact Shimon at [email protected]   ABOUT THE HOSTYour host, Kevin Poneskis, enjoys public speaking, travelling, exercising and keeping fit. He also enjoys working with a charity called STOLL, which provides accommodation and training to homeless veterans.  Kevin was in the British Army serving 24 years, mostly in a commando unit, and retired at the rank of Regimental Sergeant Major. He left the Army in 2011 and became a full-time property investor. During his Army career, Kevin was investing in property and has now been a property investor for 27 years.   CONTACT METHODhttps://en-gb.facebook.com/propertysoldier/[email protected]