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The Property Podcast

ASK271: I’ve had great growth - now should I sell or rent? PLUS: How do I get a job in lettings?

The Property Podcast

Rob Bence & Rob Dix

Business News, Education, News, Investing, Business

4.82K Ratings

🗓️ 9 February 2021

⏱️ 8 minutes

🧾️ Download transcript

Summary

Welcome back to another fun filled episode of Ask Rob & Rob. We’ve got another two great questions to answer, so let’s get stuck in. First up we’ve got Des who has a question about a property he already owns.  He previously bought it 15 years ago for around £80,000 and it’s now worth around £200,000.  The property is currently mortgaged at £150,000 as Des has previously released equity to invest elsewhere.  Des wants to know whether, after such good growth, he should sell it or rent it out?  The next question is from Imran who’s looking for a helping hand in getting his foot in the door of a letting agent.  He’s currently studying for a property qualification but has had no luck so far with the jobs he’s been applying for.  So naturally, he’s turned to Rob & Rob to see if they have any advice on how he can stand out from the crowd when trying to get a job in lettings. If you’re in similar positions as Des and Imran, then this is an episode for you.   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

Hello everyone and welcome to Ask Rob and Rob, the show where you get your normally

0:12.2

property questions in and we do our very best to answer them.

0:16.0

Now this show is a normal episode because they are property questions and two very good

0:20.4

questions at that.

0:21.7

But before we get going, let's give you a quick reminder how you can get your questions

0:25.7

in to the show.

0:26.7

Here all you need is these numbers in this order, 0138083035, that's 0138083035 or you

0:33.8

can dispense with numbers completely and just go to propertyhave.net slash ask.

0:37.6

Either way, leave us a voicemail, get your question in, just like Des did.

0:42.0

A Rob and Rob, thank you very much for doing these podcasts to find them really helpful.

0:45.8

My name is Des, listen to your podcast the other day on exit strategies.

0:49.9

What I'm interested in is I've got a probably that have held for about 15 years, I bought

0:53.6

it for £80,000, it's probably now worth around £200,000, but it's mortgage that £150,000.

0:59.8

Obviously I've remodeled it to invest elsewhere and I've kind of done okay with that.

1:05.0

I guess my question is should I sell it or should I rent it?

1:08.0

It's a leasehold property, got 90 years left on it, I'm mindful that if I sell it, I'll

1:12.5

be liable for capital gains so may not be able to take much out of it.

1:16.1

So should I just rent it knowing that my mortgage is £280,000 on the plus costs and my rental

1:21.9

income is probably around £900 a month less cost, so I just really appreciate your insight

1:26.9

and yes or no as to whether I should hold or whether I should sell.

1:31.1

So anyway, great job guys, will you appreciate it and go forward to hearing from you.

1:35.1

Thank you for the question, Des, and what I love about this is it's such a great example

...

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