Your Property Network: April 2015 Book Review
How I Bought A House For £1 combines Freddie Rayner’s own story, investing history and case studies with a bit of how-to guidance on the subject of lease options. There are references to more traditional buy-to-let models as well though and it’s a useful sprint through the very basic principles for new investors.
Treat it primarily as an introduction to lease options. It’s a concise little book that you can pretty much digest in one sitting. The writing style veers towards ‘marketing’ but don’t let that put you off – there are some useful nuggets in here. You will however still need legal and specialist advice to implement the strategy/ies mentioned here – no book should be considered a substitute for that and Freddie makes that point clear.
Just to be clear: this is about securing an option on a house, or closing the deal, for a £1 transaction, not actually buying a property for that amount.
I was particularly interested to read this as Freddie only started in property when many are contemplating retirement, and he did so to fund care home fees for his in-laws. That’s inspirational enough for me – but you might find a hint of the delightfully irrepressible too.