ASK237: Is it realistic to keep your emotion out of a purchase? PLUS: Should I use a recession to my advantage?

The Property Podcast

Rob Bence & Rob Dix

Education, Business News, Business, News, Investing

4.8 • 2K Ratings

🗓️ 26 May 2020

⏱️ 7 minutes

🔗️ Recording | iTunes | RSS

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Summary

This week on Ask Rob & Rob, the guys are trying to spread some positivity and calm people down with their worries on the current climate. Many investors are in the purchase process already and some are getting nervous. So should they stick it out or run a mile? Our first question this week comes in from Steve who has a follow up question from this podcast episode a few weeks ago. He’s got a property that’s going to complete in a few weeks and although he’s trying to stay positive about the long term, he can’t help but have some doubts while we ride the coronavirus storm.. In short, he’s wanting a bit of positivity and reassurance in regards to what he should do moving forward. Next up we’ve got Sarah who’s wondering if she should try and use a potential recession to her advantage. She’s in the process of buying two flats in Salford, with one to complete soon. However, she’s considering delaying exchange to see if she could take advantage of any interest rate drops and possibly renegotiate prices. Do Rob & Rob think she should proceed or try and renegotiate her current deals? There’s probably an awful lot of people in the same situation as Steve and Sarah. So what do The Robs think they should do? 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

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0:00.0	Hi, I'm Rob. And I'm Rob. And this is Ask Rob and Rob.
0:07.0	Welcome to Ask Rob and Rob. The place to come to get all your property questions answered.
0:12.0	There's a lot of questions around at the moment. Most of them, some... to get all your property questions answered.
0:12.8	There's a lot of questions around at the moment.
0:14.3	Most of them, some variation of what happens now.
0:17.2	Well, that's true for both our questions today, and we are going to be answering both
0:20.4	of them.
0:21.4	Before we do that, though, you've probably got questions of your own so
0:24.1	here's how to send them in. You can call it in on 13 808 AAA
0:28.4	30035 and you'll hear a voicemail message just leave your question there or you can go to
0:35.0	property hub dot net forward slash ask and hit a button and leave your message there
0:40.0	both very simple no pressure you don't speak to anyone and you can take a second or third attempt if you mess it up
0:46.3	Now luckily that is a simple process and we are delighted to have two more questions on this week, the first of which comes in from Steve.
0:55.0	Hello Rob and Rob, my name's Steve. I'm bringing in with the question following really your
1:00.0	podcast about letting your emotions not overtake you when you're making these decisions
1:04.8	about property investment. We've got a property that's going through to purchase very soon,
1:09.7	maybe by the end of this week or maybe by the end of next and while I'm trying to take a long view
1:15.4	and think about the long term I must admit I'm a bit nervous about the potential impact of the
1:21.9	virus and the economic shock that's going on around the world around it.
1:26.0	So I'm interested in your views on that and about how to think about the long term and not worry too much about what could be a short term shock or perhaps
1:34.8	rethink and not press on with a purchase when there is potentially a big shot coming.
1:41.0	So yeah, thanks for considering that and thanks again for the
	...

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