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The Property Podcast

ASK279: Is it realistic to do a refurb remotely? PLUS: How do I get the confidence to invest away from home?

The Property Podcast

Rob Bence & Rob Dix

News, Investing, Education, Business, Business News

4.82K Ratings

🗓️ 6 April 2021

⏱️ 8 minutes

🧾️ Download transcript

Summary

This week on Ask Rob & Rob, we’re answering two questions on investing in property away from home. First up this week we’ve got Ben.  Ben purchased his first property around four years ago before he got the property investment bug and found Property Hub.  He never had any intentions of building a portfolio but now he wants to try and get as many properties under his belt as he can.  He’s already decided that he wants to go down the BRRR (buy, refurb, rent, refinance) route and he’s aware that this strategy is more hands-on than most.  Ben lives in the South East of England and knows that he’s priced out of his local area so he’s turning his attention to the north to find himself a project.  But how cost effective is it trying to refurbish a property remotely?  Will Ben’s margins be squeezed too much as he’ll have to outsource the work? So will it even be worth it in the end? Our second caller is Hayley from Devon.  She’s been listening to the podcast for a couple of years whilst saving up. She’s previously bought her own residential property and is now in the process of building her funds back up.  She’s aware that the south of England is pretty expensive so is looking at purchasing a property further afield where property prices are a bit cheaper.  But Hayley wants to know how do you actually gain the confidence to invest in an area that you have no knowledge of and don’t know anyone from there either?  What advice will The Robs offer Ben and Hayley this week? 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 and I'm Rob and this is Ask Rob and Rob.

0:07.8

Welcome to Ask Rob and Rob where you send your questions in and we answer them, it's

0:12.1

that easy.

0:13.1

This week we've got two questions from investors who are looking to pursue their property

0:17.1

ambitions away from home so we'll hear what advice we've got for them in just a second

0:22.0

after a quick recap of how to get your own question in.

0:24.9

We have two options, both are leaving us a message.

0:28.1

You can call in by dialing 013808-335 or you can go via our website, propertyhub.net forward

0:36.4

slash.

0:37.4

Ask super simple and we've got two wonderful listeners who followed that method to

0:41.2

it.

0:42.2

First up, we have Ben.

0:43.2

Hello guys, my name is Ben so I have one investment property bought just about four years ago.

0:49.7

Well before I've come hooked into property and your content which is excellent by the way.

0:54.9

I had never intended on building a portfolio back then but now I want to get my hands on

0:58.9

as many as I can.

1:00.0

I'm interested in the buy, refurb rent and refinance model, realise that it's far more involved

1:06.1

than a standard investment model which is the direction I initially thought I would

1:11.9

face my entire portfolio on.

1:14.4

My question is this, I'm priced out of the South East of England market where I live

1:19.6

and I would be looking to other areas further north to start a refurb project.

1:24.9

My question is basically can this be done remotely, effectively?

...

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