Today we catch up with Varsha and Sujan, a mother and son from London.
Varsha’s son, Sujan, was referred to us in 2020, and he was looking to help his mum make better use of her pension funds. They wanted to put the money to work in a way that would solve the issue of inheritance tax (IHT), and after a few conversations, they decided to trust us to provide the solution.
We asked them about their decision to invest in the Leeds property market.
“We wanted to make a low risk, tangible investment that I could pass down to my son.
The whole end-to-end process was the best thing for us as we just couldn’t have found the property, refurbished it and rented it out so quickly“
Rather than going down the route of stocks or bitcoin, Sujan’s mum wanted to make a low risk, tangible investment that she could pass down to her son. She wanted something that could solve her IHT problem without affecting Sujan’s ability to purchase his own residential property as a first-time buyer, saving on stamp duty.
There were already 2 BTL properties in London within the family’s portfolio, but the funds they had to invest wouldn’t stretch to purchasing more properties in the same area. As well as that, the returns in the North were far higher than the average London yields, so it just made sense for them to invest in Leeds.
Our end-to-end process allowed Sujan and Varsha to conveniently access the buoyant Leeds property market. They didn’t know the area at all and remarked, “if we had found 3 houses in Leeds, we wouldn’t have a clue which would be the best one from an investment perspective.” Sujan also told us that it would have been “impossible” for him to travel, find a viable property, conduct the necessary maintenance and so on by himself.
Like many people, Sujan couldn’t always take personal phone calls while at work, and he praised the team for their use of WhatsApp to keep him updated throughout the journey. He also valued that there was always someone on hand to answer any questions he had, but, importantly, he could reply to messages in his own time. The service was “well thought out and fit for purpose“, he commented.
Both Sujan & Varsha were pleased with the photos provided once the refurbishment was complete, and they couldn’t believe how quickly the property got rented out. And because of the buoyant rental market, the tenants paid a much higher rent than initially estimated, AND paid it 6 months’ upfront!
When asked what they’d say to prospective clients, their message was, “Do it! Lifestyle Property People are trustworthy and knowledgeable and won’t let you down. It is a lot of money to invest, but it’s well worth it.”
If, like Sujan and Varsha, you’re looking to build a long-term, sustainable property portfolio, book on to our exclusive Property Investment webinar. During this free event, we will walk through how our process works, the type of return you can expect, and there will also be an opportunity to book a private 121 Zoom call with our managing director.
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