This week on The Property Podcast, Rob & Rob are back by popular demand, evaluating your listener deals live on the show.
These episodes are ones that The Robs absolutely love doing, and this week we’ve got three cracking deals to get through.
So grab a brew and settle down as we listen to how Rob & Rob scour Rightmove and offer advice to our three lovely listeners Tim, Sarah and Ahmed.
First up we have Tim who has been looking at three bedroom terrace house in Worthing. The property was on the market for £325,000 but Tim managed to get a cracking deal and had an offer of £285,000 accepted. Kudos to you!
He reckons that realistically the rent is likely to be £1,150 pcm, however this valuation won’t pass the stress test criteria and Tim will have no choice but to go for a 5 year fixed term mortgage to be able to get the full 75% loan to value rate.
After running some quick numbers, it looks like Tim will potentially end up with a net yield of 1.5% and about £400 in his back pocket each month. Would The Robs choose this deal to add to their property portfolio?
Rob & Rob also take a look into Sarah’s two bedroom apartment in Didsbury that she bagged for £205,000 and Ahmed’s three bedroom terraced house in Birmingham that he got for £13,000 below asking price, but needs a lot of work doing to it!
So which of these three deals would Rob & Rob be most likely to invest in themselves?
Tune in to find out and listen to what advice they guys have to dish out.
In the news this week, Boris Johnson is in our good books again as he’s now announced a new railway link between Manchester and Leeds.
Transport for the North proposed this a while ago, but Boris has blown this right out of the water and is moving for a bigger and better plan! Not only will there be new connections from Manchester to Leeds, but also Manchester to Liverpool and Sheffield.
Hopefully this isn’t just a pipedream and Boris will actually follow through with it – we’ll just have to wait and see.
This week’s Hub Extra comes in from one of our Hubbers, David. It’s a website called Get The Data and it’s a site where you enter the postcode and it pulls loads of information about that location from a number of different sources.
It will give you everything from the nearest public transport stop to the food hygiene ratings of local restaurants and takeaways. So this is a great resource to use if you’re looking to invest in a new area and are wanting to get clued up on any particular location.
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