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The Property Podcast

ASK196: Should I sell now or wait for the boom? PLUS: Could new tax bands change my strategy?

The Property Podcast

Rob Bence & Rob Dix

Business News, News, Business, Education, Investing

4.82K Ratings

🗓️ 23 July 2019

⏱️ 8 minutes

🧾️ Download transcript

Summary

This week on Ask Rob & Rob, the guys are answering two questions that are affected by current and ongoing situations from property booms to increasing tax bands. This week’s first question is from Lee -  he has a clear strategy and wants to use property to increase his regular cash flow so that eventually he can be financially free. He’s roughly 60% through this process but his next property might allow this to happen a lot faster.  He has a 3-bedroom property in South London and the property price has grown 50% since he bought it back in 2010 - happy days! Lee thinks he’s got about £120,000 worth of equity in the property and has considered selling up and purchasing two properties to double his income - but this is where he gets a bit stuck.  Should he sell up now, or hang on and wait for a property boom and hopefully get more money than what the property is currently valued at? Tune in to find out what The Robs think he should do.  Our second question comes in from Chaz who’s wanting to know if a change in tax bands, dependant on who our next Prime Minister is, could result in him needing to change strategy?  It’s a bit of a tricky one because how many politicians actually follow through with what they say they’re going to do? But nevertheless, Rob & Rob give their opinion to help Chaz and his future strategy. Do you have a buy to let or property investment 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 on 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.

0:05.6

Welcome to Ask Rob and Rob, where every Tuesday we eliminate a little bit of uncertainty

0:12.4

from the world and share property

0:14.3

knowledge prompted by two wonderful questions from wonderful listeners just

0:18.1

like you. Today's questions are coming up in just a sec but how do you join these

0:22.4

fine people and ask your own question?

0:24.3

So yes, it's very simple to get involved.

0:27.5

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

0:33.4

forward slash ask.

0:35.0

That's exactly what Lee has done.

0:37.0

Hi Rob and Rob, my name is Lee. I'm from London.

0:41.0

I have a bit of a dilemma.

0:42.0

The strategy that we are using is

0:44.2

quite clear. We are looking to increase the cash flow so that we become

0:49.2

financially free. We're probably 60% through, but I think potentially this option that we're going to choose may allow that to happen a lot faster.

1:00.0

So we have a property, a three bedroom flat in South London in Croydon which is constantly growing

1:07.4

The property prices grew 50% since 2010 when we bought it so it's gone from say 250 to about 385 I would say

1:16.7

we've probably got about 120,000 in the property because we have leveraged of it previously.

1:24.0

I think if we were to pull the money out now and sell it, we could probably buy two more

1:29.2

properties, more than double our income however do we wait for a boom and

1:37.0

tell it a higher price or do we sell it now and buy properties that maybe we also look in places like

1:45.2

Birmingham and Manchester where we've got property already do we invest in

...

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