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Rob D

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Everything posted by Rob D

  1. We've put together a quick Excel calculator for seeing how much you'll save, and an article here with some more of the details. A rare win for investors! We'll be talking about some of the likely effects of this on next Tuesday's Ask Rob & Rob podcast.
  2. Hi Ryan, I'm really sorry you were disappointed. For us, the lesson is to find ways to be clearer about what we offer. On our Discovery Webinars we go out of our way to say that our services aren't for everyone, and are targeted at a certain type of investor. But that doesn't help you if you haven't attended one! On the relevant page of our site we say "We secure off-plan, new, and nearly new properties from major national and regional developers". But I understand that's easily missed, and we're actually working on something pretty cool this week that makes it easier to find the right information to decide whether to get in contact. We can definitely do better to make sure people like you aren't wasting time calling in when the service isn't going to be suitable. Only a tiny fraction of the Property Hub community will ever pay us for a service, and that's something we're extremely comfortable with. It's enough to allow us to create content that everyone can benefit from, regardless of strategy – which we feel very strongly about, because nobody should be forced or encouraged down a path that isn't right for them. The brilliant thing about property is that you can use it in so many different ways to achieve a whole variety of goals. I would, though, be very dubious about anyone who claims to be able to help you with anything you're trying to achieve. If one client wanted to invest in HMOs in Ayrshire and the next wanted a prime city centre flat in London, it would take an immense amount of knowledge to effectively vet the deals before passing them on. Every company and individual I've come across operates in a niche, whether that's geographical, or relating to a particular strategy (buy-and-hold, HMOs, refurbs, flips etc), or both. The challenge then is to find the right company, which we've written this article to help with. Again, I'm sorry you had a wasted call and I hope you continue to get value from all our free resources. Thanks, Rob
  3. Hi Avram! Dino is spot on in his advice around sourcing companies. We've written an article about the research to do into sourcers which you might find useful too.
  4. Hi Elliot - we've got an article about buying off-plan as well as a free course as part of Property Hub University. Following a few simple rules at the start can avoid the majority of horror stories you hear about buying off-plan.
  5. http://pro.mouseprice.com sort-of has this, if you log in and go to "Comps Search Rental". You can only tell what it was marketed for (not eventually let for), but better than nothing.
  6. Plan your day the night before, and identify your most important task so you can do it first. I've been doing it for years, and there's a bit efficiency boost from waking up knowing exactly what you're going to do. It also gives your brain the ability to be processing it in the background overnight. I also believe that seeing the positive in situations is a habit. If you spend 60 days deliberately trying to find the silver lining in everything bad that happens (even if it's a struggle and you don't actually believe what you're telling yourself), you'll eventually "brainwash" yourself and start doing it automatically.
  7. Hi Alex, sorry for the late reply! I've written about peer to peer lending here, which goes into some of the different models and risks to look out for. It's a long way from being risk-free, but if you put in the work to get enough diversification between loans and platforms it can be a nice supplement to other investments - or somewhere to put cash to work while you save up for the next deposit.
  8. I can't believe it's been four years since we covered this on the podcast! The sector has matured a bit since then, and I recently wrote a comprehensive guide to property crowdfunding that goes into some of the risks, and who it's likely to be right/wrong for. I've made a note to return to the subject on the podcast soon too!
  9. One of the most common questions we get asked on Ask Rob & Rob and by email is "How do I invest such-and-such an amount of money?" We can talk about what we'd do, but there are only two of us and there are hundreds of different views and approaches here in the forum! So let's turn this into a thread where we can direct people to get as many different perspectives as possible. The most common amounts we get asked about are £50k and £100k. Let's choose £100k, because it allows for more options. So: What's the best way to invest £100k in property? Obviously, it depends on what you're trying to achieve. So let us know: What you'd do with the money (What and where? How much borrowing? What strategy?) What you'd be aiming to achieve as a result of your investment (A certain income? Capital growth? In what period of time?) Looking forward to seeing your ideas!
  10. Tax used to be a fact of life that property investors didn't think about too much. But not anymore: ever since the government started making massive changes in 2015, it's a subject that all investors need to get to grips with before they can get serious about property. As well as getting your questions asked on this forum, we've put together a whole series of free resources: A free course on Property Hub University: The beginner's guide to property tax A comprehensive landlord tax guide Multiple podcast episodes, which you can find here And if you want expert advice on your tax situation (and possibly someone to take the whole problem off your hands for you), speak to our team at Property Hub Tax. You'll find them in this forum too, so say hello!
  11. We will do for sure! Spot on - I stopped paying any attention to the news in January and I've been happier and more productive ever since! The essence of Stoicism is to distinguish between what you can control and what you can't, and calmly accept everything you can't. I think politics falls squarely under "things you can't control"...not without shaking a lot of hands and kissing a lot of babies at least!
  12. Hi James, I studied in Nottingham and have some property there. A fine part of the world - underrated in my opinion! Just had a quick look on Rightmove (it doesn't take much) for the city centre up to £100k. Most of the stuff under £90k looks pretty questionable, but there are some flats on for £100k that look like they'd stack quite nicely. So just get 10% off the asking price and you've hit your budget
  13. Hi Dafydd! There's no "right" answer, but I'd recommend having initial conversations with your existing lender and a broker before you sink any time into looking at property – otherwise you might be way off the mark in terms of what your budget is going to be.
  14. My idea of diversification is...investing in property in a different way! For the last couple of years I've been writing bridging loans – so still property, but different type of investment (debt rather than equity) and time horizon (6-12 months rather than years). The returns dwarf anything I could get elsewhere. I've got various trackers in ISA wrappers that I've held for years, but I'm not convinced by the global growth story so I can't bring myself to put much more in. I've had success with stock-picking in the past, but it involves a massive amount of research and I don't have the time. Basically, I've really got to hope I see the next crash coming
  15. We've done a couple of podcasts recently that feed into this: Brexit discussed on Ask Rob & Rob: http://thepropertyhub.net/ask39-how-willroperty-market/ Supply and Demand explained: http://thepropertyhub.net/tpp167-supply-demand-explained/ I think the uncertainty combined with the post-SDLT slowdown might be creating a nice little buying opportunity - be greedy when others are fearful etc! Leaving the EU would hit demand (especially for HMOs one would have thought), but the balance is so wildly off at the moment I can't see it'd make too much difference. Interestingly, the doom-laden predictions aren't quite what they seem at first glance: In any case, given that the entire establishment is doing everything in their power to keep us in, I'd say there's about a 0% chance of it actually happening so we'll never know
  16. Hi Andre, my recommendation would be to take templates to a solicitor and get them tweaked to suit your needs. I wouldn't want to be relying on something I just downloaded for this, but it can work out a lot cheaper if you go to a solicitor with a very clear idea of what you want. (And once you've got something exactly right, you can use it for all future deals.) I can't help with templates, but if you want a solicitor recommendation just drop me an email (rob@propertygeek.net).
  17. This is going to be super-exciting! Lots of our meetup leaders from around the country are going to be there too, and it'll be great to meet lots of new people. Apparently advance tickets for the live podcast recording have already sold out, but don't worry – if you still want to see us make idiots of ourselves, they always hold back some first-come-first-served places on the day itself.
  18. Thank you for your support everyone! It's currently ranked #7 out of ALL books on Amazon UK, which is a bit ridiculous... If you're having any issues with the extras or launch competition, just drop me an email and I'll get it sorted for you - rob@propertygeek.net
  19. Thank you so much Anselm! I really hope you enjoy it. (Amazon link here, while I'm having a self-promotional day!)
  20. Late to the game here - how did I miss this? Your option "a" sounds the best to me, but the beauty of Trello is it's so flexible you can go with whatever's intuitive to you. The benefit of columns like "action needed" is that you can get fancy and use Zapier to fire off automations when the card is moved between columns. e.g. You drag a card to "maintenance request", and it fires off an email to your handyman with a job sheet. You can also use the Google Sheets integration to add each property's spreadsheet neatly to its card. The Trello board then becomes the "dashboard" from which you can just follow links to access any information you need. And if you use Slack at all, the Trello integration is really good. We use it to fire notifications to our "#updates" channel whenever a card is modified, so you can see a stream of what's going on at any time. Hope there's something useful in there somewhere!
  21. Hi Katie, best bet is to check with your mortgage advisor. I've known it to be possible if you can prove the source of the original funds and provide a letter confirming that it's a gift, but it could well vary from lender to lender. A broker/advisor is very useful in cases like this, as they can make sure the lender is happy in the first place and also that it doesn't fall foul of any over-enthusiastic interventions on the way through the process.
  22. Thank you for bringing this to everyone's attention Tim. In a classic government move, they've appeared to bring it in despite inconclusive/mixed results in a limited trial, and with very little publicity! My understanding is that the landlord or agent must have sight of original documents in the presence of the applicant (or existing tenant in the case of a new fixed term) and take copies, so I'm not sure how "online" checking would be sufficient.
  23. I loved it – I thought the acting was fantastic, and it didn't dumb down the details just for the sake of making it an easier watch. I highly recommend the book too, and all Michael Lewis' others – I think he's massively underrated. (Will move this thread to General Discussion now )
  24. If you've been listening to the podcast, you might know that I've got a book – the "ambitiously" titled The Complete Guide To Property Investment – coming out this Thursday! I just wanted to give a heads-up in the Hub that if you reserve a copy before Thursday, you'll get some extra bonuses thrown in at no extra cost – including an online Q&A, and chapter-by-chapter audio notes with me talking about things I couldn't fit into the book. (You'll also be entered into a very exciting launch competition I'm keeping quiet for now!) All you need is to click this link and enter your email address before Wednesday evening. I'll then send you a link to buy on Amazon on Thursday (paperback or Kindle, £9.99) and you can unlock the bonuses. Excitedly, Rob
  25. 3 languages at 18 months? Wow! I'd say you've put your finger on it: flipping, R2R etc are all jobs, whereas "investment" is long-term almost by definition. So the question is whether you prefer your current job or a new one! Some people go into property all guns blazing, and find the motivation to keep a roof over the family's head spurs them on to great success very quickly. But I suspect there are many more that crash and burn who we don't hear about... Only you know yourself enough to make the decision, but if it were me I'd be taking the slow and steady approach.
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