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The Property Podcast

ASK162: Should I pull out of this deal? PLUS: Is it a good idea to wait for the Brexit dip?

The Property Podcast

Rob Bence & Rob Dix

News, Investing, Education, Business, Business News

4.82K Ratings

🗓️ 13 November 2018

⏱️ 9 minutes

🧾️ Download transcript

Summary

We’re back with two property investment related questions from our wonderful Hubbers this week, after deep-delving into the one (but very detailed) question relating to off-plan investments last week. If you missed it, you can catch it here. On this week’s Ask Rob & Rob, James tells us how he inherited a property which was then sold to buy his residential property. He had a sum left over to invest in a 3-bedroom, end-of-terrace property in Northampton where he’s been stuck in the conveyancing process for 6 months! It’s not James’ fault - there are issues further up the chain. However, whilst he’s been sitting tight for 6 months, he’s also been soaking up all the information on our Property Podcasts (wise move, James!) and has been thinking about whether this property investment is the right one for him after all. Should he continue with his property purchase or should he pull out, cut his losses, have a rethink and put his new-found buy to let knowledge into practice with a different property in a different location? Perhaps somewhere where capital growth is likely to be stronger and the rental returns higher? As listeners will know, the Robs aren’t huge fans of the conveyancing process, so James isn’t alone with his frustrations. The buying process is painful and this does give buyers plenty of time to think and reflect on their buy to let property investment purchases. But would the Robs continue with the property or would they pull out of the process if they thought something better was around the corner? Find out in today’s episode. The second question comes from Rob (yes, another Rob!). He wants to know if he should invest in buy to let property now or hold off because of Brexit. He believes that a “no deal” will likely result in a huge market dip - but is this really the case? If you listen back to the Brexit episode, you’ll hear our thoughts on Brexit and how the Robs think it will affect the property market, but in this episode we expand a tad further. The Brexit negativity is here and now - all markets are assuming the worst. The media is doing a damn good job at making investors question their investment decisions, but should you let them steer you? Is now the time to retreat? Or is it time to stand firm and be brave with your buy to let investment plans? Hit the play button to listen.  Do you have a buy to let or property related question for Rob & Rob? You could feature on the next episode by giving us a call on 013 808 00035 and leaving a message with your name and question (normal UK call rates apply). Or if you prefer, click here to leave a recording via your computer instead. The next question on Ask Rob & Rob could be yours. Have you joined us over in The Property Hub Forum yet? Our online community is friendly, informative, and the members are waiting to welcome you with open arms. So get yourself over and introduce yourself. 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.

0:07.0

Hello everyone and welcome to Ask Rob and Rob. The show where you give us great questions and we hopefully give you great answers.

0:16.2

We've got two wonderful hubbers who've delivered for us this week and if you'd like to be on the show in the future and be considered wonderful by Rob and I then follow

0:24.1

the simple instructions. Yeah all you got to do is leave us a message and you can do it

0:28.0

in one of two different ways. You can give us a call on the number that you should

0:31.2

know by now. It's 01 1.3808.000.

0:34.0

3.8.000.35.

0:37.0

Or you can go to our website and leave us a voicemail there instead.

0:40.0

The link to head over to is the Property Hub.

0:42.0

Dotnet slash ask.

0:43.8

Okay, let's get into our first question because James needs a bit of help.

0:47.0

Hi Rob and Rob, my name's James.

0:50.6

My question relates to my personal investment situation, so hopefully it isn't too specific.

0:57.0

Last year I inherited a property for my late mother, which I sold and I've used a chunk of that capital to buy a place with my

1:05.3

girlfriend a residential property but I'm also really keen to invest the

1:09.3

remaining capital in By Tilets. Six months ago I was really keen to get some of this money invested

1:15.0

rather than it just sit in the bank and I did some research and I had an offer

1:19.2

except it on a three bedroom Ender Terrace in Northampton. Now that was in March and the

1:25.3

conveyancing process for that property is still continuing now because of issues

1:29.7

further up the chain. Now the problem is I've learned an awful lot in those six months

1:34.7

I'm about by to that investment locations not at least from you to so my question

1:40.2

really is whether I should carry on with the purchase even though it's

...

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