ASK221: Is this property too cheap? PLUS: How much should I be paying my letting agent

This week on Ask Rob & Rob, the guys are helping one caller decide whether getting a cheaper property is a risk or should they be going for a property with more value? 

Our first caller, Stephen from Glasgow, is currently looking to make another investment. He’s been investing in property for years and currently has £30,000 to invest with. 

Stephen has got his eye on a few properties in an upcoming auction which are going for around £25,000-£35,000. But, he’s in a dilemma. He wants to know whether he should invest his £30,000 in the cheaper property or a £120,000 property which could benefit from capital growth. 

So, do Rob & Rob think that Stephen should go for the cheaper option or a more expensive property with the possibility of increasing the value? 

The second question this week comes from Osman, and he’s got a question on lettings. Osman owns one property and he is looking to get a fully managed service for it.

He wants to know what the average fee for a fully managed service is. Osman has had three quotes now, but he isn’t impressed with what he’s received. As Osman only has one property, he’s unsure on how much discount he could negotiate with agents. 

So, will Osman be impressed with the average fee for a fully managed service? 

Tune in to find out...

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