This week on Ask Rob & Rob, the guys are back again with two different questions that they’ve not covered previously. They’ll be talking about what to do in the event of there being a lack of comparables discussing if properties that have lost value are worth investing in now.
Our first caller today is Paul from Burnley. At the beginning of the year Paul purchased his first buy-to-let property and now he’s hoping to soon complete on property number six!
That’s pretty good going for less than 12 month’s work!
Paul’s strategy is buy-refurbish-refinance with a difference – he focuses on bungalows. So not your usual property choice, but clearly it’s working for him.
However he’s now ran into a bit of an issue. Because it’s such a niche strategy, he’s having difficulties when it comes to searching for comparables in order to remortgage the properties.
Obviously Paul’s end game is to have made as much profit as possible on the properties, so he’s wondering what he can do to prepare that information when the valuations take place?
Luckily, Rob D is on hand to offer Paul some pointers on how he can go about this.
The second question comes from Luke in Liverpool. He has a small portfolio himself and is continuously looking to add to it.
He’s been keeping his eye on the local market in and around Liverpool, in different areas and has noticed that some developments that were priced between £130,000 – £140,000 are now on the market for around £90,000.
So now he’s wondering if these kind of properties are a good investment opportunity or if they are just going to continuously lose value and he should stay well away?
Naturally, there was only one Rob that could offer advice on the Liverpool market, cue Rob B.
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.
Share your thoughts on this episode – and find out what others are saying – in the Property Hub Forum.Go to the forum
Did you enjoy this episode? Then please leave us a review: it’s the best way to say thank you, because it helps others find us.
To show our appreciation, we’ll read out your review on the show! Learn how to leave a review in Apple Podcasts.