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The Property Podcast

ASK220: Which location should I choose for a buy-refurb-refinance strategy? PLUS: Can I charge my tenant for this damage?

The Property Podcast

Rob Bence & Rob Dix

Business News, News, Business, Education, Investing

4.82K Ratings

🗓️ 28 January 2020

⏱️ 9 minutes

🧾️ Download transcript

Summary

This week on Ask Rob & Rob, the guys are helping one caller decide on which location they should be looking at, and a landlord who’s got damp issues in his property.  Our first caller, Harry from Bristol, is currently preparing to make his first property investment. He’s only interested in receiving cash flow at the moment, so his strategy is buy, refurbish and refinance. He’s in the process of scouting for locations so he’s turned to Rob & Rob for advice. He’s keen on the North West or South Wales however, South Wales is closer to home.  With Harry's strategy, should he be investing in an area closer to home or taking the risk and investing in the popular North West?  The second question this week comes from Boris. Boris has a tenant that is due to vacate his property and has discovered that there’s quite a bit of mold and damp. This is partly due to how the property is built, with lack of ventilation.  He wants to know if he’s entitled to ask the tenant to pay for redecoration where it’s needed in the property.  In addition to this, Boris mentioned he wants to change to a new lettings agent, but what happens about the money held in deposit?  So, Boris wants to know if both letting agents new and old can work together to get the work on the property completed. Can he charge the tenants or will he have to pay himself? Tune in to find out... 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.

0:03.2

And I'm Rob.

0:04.0

And this is Ask Rub and Rob.

0:08.0

It certainly is Ask Rob and Rob.

0:10.0

Welcome everyone and thank you for joining us if you're listening to this on the day

0:13.4

from so happy Tuesday we certainly got some great questions in this week and if you'd

0:16.9

like to join the show and get your questions answered then please do get them in we

0:21.7

make it super simple for you to do that.

0:23.3

We sure do you just have to call 013 808 triple 035

0:27.3

that's 0138.8.035

0:30.8

or you can go to Property Hub.net slash Ask.

0:34.7

Using either of those very simple methods,

0:37.1

just record your question for us

0:38.7

and we will furnish you in due course with an answer.

0:41.6

So let's deliver on that promise right now for Harry.

0:44.0

Hi Robs, I'm Harry from Bristol. First and foremost, I'd like to thank you very much for

0:49.1

your podcasts. Over the last month I've listened to a year's worth and they've been very valuable and it saved me from spending tens of thousands of pounds on a course.

0:58.0

I'm currently planning to prepare into invest for the first time and I'm currently at the stage on choosing an area and wondered if I could ask your opinion.

1:05.3

My current circumstances are that I'm from Bristol I have 25,000 pounds to invest so100k with a 75% LTV mortgage.

1:15.0

I'm only interested in cash for at the minute.

1:18.0

The capital I'm not worried about that can come later,

1:20.0

and therefore the strategy that I'm looking at is by to let refurbish refinance.

...

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