Our speaker this month is Leteasha Van Engelen. Leteasha is an Adelaide property investor with an amazing wealth of experience in multiple property strategies as well as in business. Our regular attendees may remember Leteasha from when her father Albert Graf spoke at our meeting several months ago.
Leteasha grew up in and around the building industry, as her father was a builder. She purchased her first house when she was 19 years old which she later sold for 11 times what she paid for it. She started her first business at 24 years old- a wedding business she ran from home while managing 2 stores for a major retail company. She also opened a skate shop business which her sister managed.
Several years ago she started having an interest in Property Development and has since been studying with many property development mentors. She currently works full time and also works with her father doing Property Inspections.
Leteasha loves doing creative property deals and using other peoples money. She has created deals worth over $160 Million. A lot of them were using OPTIONS and that is what she will be speaking to you about.
What is an Option?
An option buys you time to do due dilligence and or find a buyer.
How does an option work?
1. Option holder options the property for $x at 12 months.
2. The option holder gets a development approval on the property.
3. The Option holder assigns the option to the buyer for $x + $x.
4. Buyer settles with the option holder.
5. Buyer settles with the seller in 12 months.
Don’t miss this opportunity to learn about options and other creative strategies that can make you $$$ from this very accomplished investor!
We look forward to seeing you there!