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The Property Podcast

ASK335: Why are my offers being refused? PLUS: How do I minimise tax on a flip?

The Property Podcast

Rob Bence & Rob Dix

Business News, News, Business, Education, Investing

4.82K Ratings

🗓️ 31 May 2022

⏱️ 9 minutes

🧾️ Download transcript

Summary

We’ve got some cracking questions for you this week, so let’s dive straight in!  Kicking us off is Jessica!  Jess has been listening to the podcast for a while now, and she’s finally ready to purchase her first property.  She’s been looking around Liverpool for the past 18 months and has put in multiple offers, in various areas and price ranges but has found her offers consistently being rejected.  Even though her offers are always at asking price or above, she’s starting to wonder if being a single buyer is what’s setting her back?  So, she’s hoping Rob & Rob can give her some advice and help her get her foot on the ladder.  Next up, we’ve got a question from Ben in Birmingham.  Ben’s looking to purchase a property for £275,000 flip it and sell it for £385,000 leaving him with a healthy £30,000 in profit.   But he’s wondering if he can avoid the hefty capital gains tax on this.  He’s got a few different ideas in mind but he’s hoping Rob & Rob will be able to help him decide.  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.  And if you’d like to find out more information about Portfolio you can do that here.  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 the show. We've got some cracking property questions coming

0:12.9

up for you from Jessica and Ben this week, but before we get into the questions on those

0:17.6

lovely individuals, a quick reminder of how you can get your question onto the show.

0:22.8

It's so easy, just call 013808-3035 or go to property hub.net-ask. When you get to

0:30.3

either of those destinations, just leave us a voicemail. You can re-record it if you

0:34.2

mess it up. It's only fair. We do it in the podcast, so you should be able to do it when

0:37.2

you're leaving your question. And then we will get it answered for you just as we're

0:41.0

about to you now for Jessica.

0:42.7

Hi Robin Robb. Absolutely love your show. I've been listening for a couple of years now and

0:49.2

finally I'm at the stage where I'm getting my Thursday's property. Still obviously

0:53.6

interested in doing investment in the future, but for now I'm just trying to get my foot

0:57.9

on the ladder. I've put various offers on about seven or eight houses with various price

1:04.2

ranges and different areas around Liverpool and I've only had a single offer accepted,

1:11.1

which then fell through due to a down valuation. I just keep getting overlooked and I'm

1:17.3

offering asking price or over as I'm buying on my own. I'm not really sure whether this

1:22.7

is kind of setting me back, but I have a 10% deposit in no further cash to put forward.

1:29.0

I just seem to be getting my offers rejected. I'm not sure what's going on at the moment,

1:33.3

but I just wondered if you had any tips as to how I can get on the property ladder and

1:37.4

stop missing out. I've been looking probably now for about a year and a half. Thank you.

1:42.8

Hey Jessica, thank you for your question and great city full of wonderful people that you're

1:49.0

trying to invest in and clearly I have no bias. But seriously Liverpool is an area we have talked

1:55.4

about as a great place to invest over the last few years, so I can understand why it has your

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