ASK248: I got a bargain - should I flip it? PLUS: Will this help me avoid the stamp duty surcharge?

It’s another Tuesday, so it’s another Ask Rob & Rob. And we’ve got two cracking property questions for you.

The first question is from Dom who’s just completed on a 2-bedroom flat in South London. He agreed the price back in January before the dreaded coronavirus, and went back to negotiate on the advice of Rob & Rob and managed to snap up an absolute bargain!

So he’s ended up with a new house at a massively discounted price. 

Today he’s asking whether Rob & Rob reckon he should flip it, take the cash and wait for another dip. 

Rob B has some solid advice today and a bit of warning about that ‘paper-profit’. Dom needs to be careful about allocating overall transaction costs and also about potentially investing on the expectation of a dip in the market. 

Why should Dom be careful? Why should nobody ever invest based on assumptions? Tune in to find out.

Next up is Sabrina from Newcastle. She got hooked on the podcast after reading Rob D’s book and hasn’t looked back ever since - that’s what we like to hear! 

Sabrina is a first time buyer and wants to know if investing in property via a limited company would preserve her first time buyer status for when she eventually buys her own residential property to live in - therefore avoiding that 3% stamp duty surcharge on second properties.  

Listen as Rob D takes the lead on this question and explains how we’re all judged as individuals when it comes to property transactions. 

Try as we might, there’s no getting around stamp duty unfortunately. 

If only we could wave that magic wand!

Tune in to today’s Ask Rob & Rob, it’s one not to be missed!

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