The Property by Kazy Podcast EP 51 | "My Tenant Didn't Pay Me Rent For A Year!" - Lee Anderson
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Jun 22, 2024 Lee Anderson, a seasoned property businessman and innovator at Lebern Property Services, shares his journey in transforming the property industry through technology. He recounts the harsh realities of managing non-paying tenants and the financial lessons learned from adversity. Lee explores the importance of community representation in real estate and delves into the innovative social housing models that guarantee rent. He highlights the role of automation in property management and emphasizes the significance of building a supportive network for personal and professional growth.
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First Property Purchase
- Lee Anderson bought his first property in Southampton in 2005, following his dad's purchase for his brother.
- He admits to making mistakes, buying in a bad area at market price with no value-add potential.
Year Without Rent
- Anderson's tenant didn't pay rent for a year, leading to legal and financial struggles.
- He learned the importance of correct paperwork, managing properties effectively, and securing suitable margins.
Bulk Buying Strategy
- After his initial struggles, Anderson negotiated discounts on new-build properties by reserving in bulk.
- He then packaged these deals with incentives like gifted deposits and legal fees to attract buyers.