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The Property Podcast

ASK137: How do I avoid getting cut out of the deal when sourcing? PLUS: Is it time to call in the professionals?

The Property Podcast

Rob Bence & Rob Dix

Business News, News, Business, Education, Investing

4.82K Ratings

🗓️ 22 May 2018

⏱️ 7 minutes

🧾️ Download transcript

Summary

It's time for another couple of questions in this week’s edition of ‘Ask Rob & Rob’, Abby & Bryony ask Rob & Rob...How do I avoid getting cut out of the deal when sourcing? PLUS: Is it time to call in the professionals?... ASK YOUR OWN QUESTION TO ROB & ROB! Don't be shy! All you need to do is leave a message with your name and whatever's on your mind. Just pick up the phone and call 013 808 00035 (normal UK call rates apply). Or if you prefer, click here to leave a recording via your computer instead. See omnystudio.com/listener for privacy information.

Transcript

Click on a timestamp to play from that location

0:00.0

Hi, I'm Rob. And I'm Rob. And this is Ask Rob and Rob.

0:06.0

Yes, welcome to Ask Rob and Rob. You know where you are with this show.

0:12.0

Couple of questions, a couple answers, everyone goes away a little bit wiser.

0:15.9

Today we've got a cracking couple of questions in from Abbey and Bryony, so we'll listen to those

0:19.3

in just a minute, but first a quick recap of how you can send in a question of your own.

0:24.0

Yes, it's completely changed. No, it hasn't. It's the same as every week.

0:27.3

You can call in via 013-808,000.35, or you can go to the Property Hub.net

0:35.0

forward slash ask.

0:37.0

However you do it, it's super simple and that's exactly what Abby has done.

0:40.0

Hi Robin Rob, my name's Abby from Bedfordshire. on. my way through all the podcasts and the free training that you do. So I'm in the process of buying my first property to flip, but my question revolves around deal sourcing.

0:59.6

Whilst the purchase of my properties going through, I thought I'd carry on doing

1:03.8

viewings and sourcing deals for a few reasons really. One in case that my

1:09.2

purchase falls through so I've got something to fall back on. Two, so that I sort of keep up with the market

1:15.0

so that when I come to buy my next property,

1:17.0

I'm still in the loop with everything that's going on.

1:19.5

And three, I thought that if I find any deals in the meantime, could sort of sell them on to make myself a bit of money in the meantime

1:27.0

My question really is do you have to be regulated to sell deals and how do you make sure that when you're giving investors information about the deals that you've got that they can't go away and sort of

1:46.0

go direct to the vendor or to the estate agent themselves. Yes thank you Abby great

1:50.1

couple of questions there. Firstly for sourcing you need to be

1:53.2

registered with a couple of different bodies so you need to be registered with the

1:56.1

information Commissioner's office the ICO and you also need to be regulated by one of

2:00.9

the ombudsman schemes so it's probably going to cost you

...

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