With over 20 years’ experience in the property industry and a strong, social-media following, Vincent Wong is an extremely famous face in the Property Investment sector. Wong is the Co-founder of exchange-listed company Wealth Dragons and has had an interesting and varied path to the top. Here, Vincent discusses the ground-breaking concept of Lease Options.
SUMMIT magazine names Wong as the “Father of Lease Options”, given his success in pioneering this financing strategy. What is particularly impressive is he is credited for bringing the strategy to the UK, Netherlands and Malaysia — three unique and contrasting property markets, which demonstrates the global scale of Vincent’s success.
Lease Options are a tangible alternative to traditional mortgage financing and is particularly appealing to those who struggle with income multiples and lack of deposit. Key benefits of Lease Options are that it removes the need for a Deposit and Mortgage altogether. Essentially, investors or holders of the Lease Option take over existing mortgage payments from another property owner. Option holders can then rent out the property for higher than the payments, usually generating a positive cash flow per month.
The five key tips for Lease Options are as follows:-
Readers can find out more about the Lease Option process and success stories in Vincent’s book, “Property Entrepreneur: The Wealth Dragon way to Build a Successful Property Business”.
Written and published by Michelle Whiting
Wealth Dragons Group Plc
Linford Wood Business Centre