ASK279: Is it realistic to do a refurb remotely? PLUS: How do I get the confidence to invest away from home?

This week on Ask Rob & Rob, we’re answering two questions on investing in property away from home.

First up this week we’ve got Ben. 

Ben purchased his first property around four years ago before he got the property investment bug and found Property Hub. 

He never had any intentions of building a portfolio but now he wants to try and get as many properties under his belt as he can. 

He’s already decided that he wants to go down the BRRR (buy, refurb, rent, refinance) route and he’s aware that this strategy is more hands-on than most. 

Ben lives in the South East of England and knows that he’s priced out of his local area so he’s turning his attention to the north to find himself a project. 

But how cost effective is it trying to refurbish a property remotely? 

Will Ben’s margins be squeezed too much as he’ll have to outsource the work? So will it even be worth it in the end?

Our second caller is Hayley from Devon. 

She’s been listening to the podcast for a couple of years whilst saving up. She’s previously bought her own residential property and is now in the process of building her funds back up. 

She’s aware that the south of England is pretty expensive so is looking at purchasing a property further afield where property prices are a bit cheaper. 

But Hayley wants to know how do you actually gain the confidence to invest in an area that you have no knowledge of and don’t know anyone from there either? 

What advice will The Robs offer Ben and Hayley this week?

Tune in to find out.

 

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