Comments on: Revealed: one of the industry’s best kept secrets – How you can make a life-changing income from land without purchase or ownership…

By: Lyndon Forshaw

Lyndon Forshaw — Thu, 12 Aug 2010 13:59:14 +0000

HI Robert,
We ask as many of the neighbours as possible in such instances. It usually does the trick.
Regards

Lyndon

By: WeeManSilver

WeeManSilver — Sun, 01 Aug 2010 07:04:34 +0000

Many thanks for the free ebook Lyndon, as a complete n00b to property it is heartening to see people like yourself giving away this kind of information for free!

Having read through the whole ebook it is quite an eye opener to realise that I actually understood the whole process.

Having looked around where I live on Google maps I have already seen 2 potential sites, I also looked around a town I used to live in as a kid and I found some places that could have potential too!

Thanks again and keep up the fantastic blog!

Cheers

Mike

By: Robert Mulholland

Robert Mulholland — Thu, 29 Jul 2010 18:32:27 +0000

Hi Lyndon
This question isnt relevant to your land finder but you might be able to help me, i have located a property that has been empty for approx 10-12yrs now, i have tried land registry and they have no details of ownership, tried local authority and they cant help, do you know of any other avenues i can use to locate the owners.
Kind Regards
Robert Mulholland

By: Lyndon Forshaw

Lyndon Forshaw — Wed, 09 Jun 2010 15:00:17 +0000

Hi Ali,

Pleased you like the report. I would recommend you consult your accountant re Tax & VAT advice as we all have different circumstances. However, you are correct is saying that when you sell on an option it doesn’t incur a capital gains tax liability.

Regards

Lyndon

By: Ali

Ali — Tue, 25 May 2010 16:58:50 +0000

Hi Lyndon
Thanks for your great report and for sharing your knowledge and expertise. Would I be right in thinking that because we’re dealing with Options and not ownership, there are no capital gains tax liabilities? Also, is VAT relevant here?
Many thanks
Ali

By: Lyndon Forshaw

Lyndon Forshaw — Mon, 24 May 2010 12:52:34 +0000

HI Paul,
If the land owner wants to realise a price for his land way over and above it’s current value then he is going have to wait until you have increased it’s value by obtaining planning permission to develop the land. I’m not sure what the existing use of the land in question is but we make money by Optioning the land at one price, then we increase its value through planning permission (or get a developer to do it), and then sell that land or control of that land on after its value has been increased. For instance a plot that currently forms part of a garden may be worth just a few thousand pounds today. However, with planning consent to build a detached house on there it could be worth 200k or more. Clearly you wouldn’t want to pay 200k or more until planning permission has been granted. So the land owner will have to wait until then.

Hope this helps

Lyndon

By: paul

paul — Sun, 23 May 2010 21:52:14 +0000

Hi Lyndon
Have read your report but have a question.
If I found some land and approached the owner,and they were willing to sell
I would think they would want the money fairly quickly,not sign a lease option
for £1.00 for 12 to 18 months before they realise any cash,what would make them want to do this I dont see the benefit to them.
Thanks
Paul

By: Lyndon Forshaw

Lyndon Forshaw — Tue, 18 May 2010 14:46:55 +0000

Hi Patrick,
Glad you like the report and I will briefly answer your questions below.
1. I always argue to the landowner that my real investment into the deal isn’t the £1. In fact I don’t even mention the figure – I just leave it to my solicitor to pay this. investment is the cost of the planning application and all that goes with it which I argue (exaggerate!) can cost many thousands of pounds – which is ultimately what will increase the value of his site whether I buy it or not. So this investment is the real sum I’m paying. 99 times out of 100 this works.
2. It isn’t necessary to state that you will obtain planning permission in the Option. That is the case when you enter a conditional contract – subject to planning permission. It si best left out as you say.
Developers who the option is sold to must be obliged to apply for planning permission and also pay you a deposit to ensure they do.
3. Yes you can make any caveats to the offer that you see fit. Though a search with the service provider carried out by your solicitor would confirm proximity.
4. page 46 figures are with the benefit of planning consent.
5. It generally will go via your solicitor, but your solicitor will be in contact with both the developer solicitor and the land owner solicitor so they can agree between them.

Hope this helps

Cheers

Lyndon

By: Patrick

Patrick — Fri, 14 May 2010 16:17:34 +0000

Hi Lyndon,

I have just finished studying your “Land Finder Fortunes” manual (including investigating the various websites and resources that you mentioned) and like most people above, I would like to compliment and thank you for an excellent document. This is something that I am very keen to try and your answers to some of the queries above have helped even more, as they addressed some queries I had. However, I have 5 other questions, for which I’d be very grateful for an answer:

1. I can imagine a situation where a landowner makes the point that for the duration of the option period (12 to 18 months), the option prevents him from selling his property, in the event of say him having a family emergency and therefore, he wants a lot more than the negligible fee of say £1 for that risk. What would you suggest for such a situation, apart from the obvious one of offering substantially more money, which would then put a more significant risk on me?

2. Is it necessary to state in the option agreement with the landowner, that the agreement is subject to planning permission? My thinking is that it is best to leave this out and if planning is not obtained, then I can simply let the option lapse. Whereas, if it is included, it could just be something for the landowner to latch on to in a negative way. For example, it could highlight to the landowner that he may be going through a process which he could see as bothersome, for potentially no reward, if permission is not granted. And / or, it could highlight to him that he could apply for planning permission himself. I can of course see the need and benefit of mentioning in the Purchase Option Agreement with the developer, that the agreement is subject to planning permission.

3. If we are unsure about the proximity and therefore cost of such things as utility and sewer connections, can we make the offer price in the option agreement subject to these costs being clarified?

4. On page 46 you give an indicative cost of land, is this with or without planning permission?

5. At completion, does the money due to the landowner goes directly from the developer to the landowner / his solicitor, or does it go via my solicitor?

Many thanks again for the document and for producing this blog.

I look forward to hearing from you.

Regards,
Patrick

By: rob lamb

rob lamb — Mon, 19 Apr 2010 07:56:38 +0000

Hi Lydon
Ok really good to read your report and I waisted no time in getting out there and looking.
Found a good site but with two houses on, They look old and run down with a few tramps living there.Now what do I do.?
I feel a bit sheepish to just go and bang on the doors and ask do you want to sell.?

Help Please