A lesson in finding a win/win for everyone
by Phil Saunders, YPN writer and property investor.
It was great to chat to Simant Soni this month about his creative property investment deal in Reading, which is featured in the November 21 issue of YPN. To complete this deal, he used what’s called an “exchange with delayed completion”.
In simple terms, an exchange with delayed completion, or EDC for short, means that the buyer and the vendor exchange contracts, just as you do for a normal property purchase, but agree a period of time that can extend to months or even years before the transaction completes.
This case study just goes to show that no matter what area you are investing in, there are deals out there. You just have to open your mind to the opportunities that are there. Like Simant, I am a graduate of Simon Zutshi’s property mastermind programme and Simon always taught me that whether you believe there are deals in your area or not, you are ABSOLUTELY right!
Simant is living proof of that. Reading, like South East England in general, is an expensive area and buying property there was beyond his means. He simply didn’t have the capital to raise the deposit to buy and saving to do so would have taken him many years.
Yet he wasn’t perturbed. He channelled his energy into finding a way to get the property he wanted in a way that massively reduced the amount of money he needed to put into the deal. What’s more, the landlord is really happy as Simant managed to solve the headache of running the property by taking that onboard himself.
This case study is a real example of a win-win for all parties. You can read the full article, along with case study figures and detailed insight into the deal, in the November 2021 issue of YPN.