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The Property Podcast

ASK246: How do I develop local knowledge? PLUS: What are the benefits of buying with a mortgage?

The Property Podcast

Rob Bence & Rob Dix

Education, Business News, Business, News, Investing

4.82K Ratings

🗓️ 28 July 2020

⏱️ 6 minutes

🧾️ Download transcript

Summary

This week on Ask Rob & Rob, the guys are helping one caller up his location knowledge and explaining why buying with a mortgage is the better option. First up this week is Chris from London. He’s been talking to another investor about a property in Bootle, Liverpool.  However this investor has informed Chris that the street isn’t exactly the best or the most desirable in the area and that he should look elsewhere.  So now Chris is wondering if house prices can really differ that much street by street and with being based down south, how can he gain local property knowledge in different locations?  Naturally this question was made for Rob B so what does he recommend Chris do to improve his location knowledge?  Next up we’ve got Marlon who’s looking to find out what the benefits are of buying with a mortgage as opposed to purchasing in cash if you’re able to? His reason for asking is that he’s got 60% of the property purchase price and the oher 40% will be loaned to him by a family member, which he will go on to pay back like a mortgage, but without any interest and at a more flexible rate.  If you’ve been thinking about purchasing in cash, you’ll probably want to listen to this episode first, along with this podcast episode and take this course.  Enjoy!   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.

0:07.8

Welcome to Ask Rob and Rob. That's staple of a Tuesday where we receive two property questions and then provide answers to them.

0:14.8

Chris and Marlon are our questioners this week so we will waste very little time

0:18.7

before hearing those but first it's worth having a quick recap of how you get your own

0:22.4

question in.

0:23.2

Yes, you can call us on 013, 808, AAA,

0:27.0

O3-35, leaves a voicemail and you may hear yourself on the show.

0:31.4

Or the other way to hear yourself on the show is

0:33.4

go to property hub dot net forward slash ask that's exactly what Chris is done

0:37.7

let's listen to his question.

0:39.3

Hi rather Rob Chris here from London. I spoke with an investor about the possible property in Buto, Liverpool the other day and he told me that that street is not the best and I should look elsewhere. I have the

0:54.3

following question is it true that property is very that much by street is it

0:59.1

through that if I buy somewhere else which is two minutes away all my problems will be solved somehow.

1:06.3

I find this a bit hard to believe but if this is the case how do I go about getting the local knowledge?

1:15.0

Because going from a state agent to a state agent and asking what they think about

1:20.4

this street or the other, I don't think that approach you'll get me very far.

1:24.9

Oh, Chris, this is made for me. North Liverpool, that's where I'm originally from.

1:29.1

And a quick answer is yes. Streets can be really different. This isn't exclusive to

1:35.6

Liverpool. This is all over the country. If you think about London, the difference of

1:40.0

two areas maybe a few hundred yards away can be vast and it's no different for any

1:45.6

other city or major town in the country. Now the good news is you don't need to know

1:51.0

every single street because loads of streets are the same.

...

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