This week The Robs are looking at more listener deals but this time they’re taking on the challenge of helping Nathan decide between two deals.
He’s torn between two properties and doesn’t know which one to go for. Should be invest in Leeds or Manchester?! Two fantastic cities and two very different deals. So which one do The Robs think he should go for?
Settle in as Manchester and Leeds battle it out to win Nathan’s investment.
First up we have a two bedroom flat in the middle of Manchester on Princess Street for £240,000. It’s pretty central and close to two main train lines and was converted around 15 years ago. Certainly move in ready.
He thinks he’ll be able to achieve £920 pcm after taking off his management fees. Once other fees have been deducted, he’s looking at a net profit of just under £200 per month, giving him an ROI of 3%.
A 3% ROI isn’t exactly going to get you excited, but Nathan said he’s in this for the long run and capital growth is more his long-term plan. So should this be the property he goes for?
The second option is a two bedroom flat in the middle of Leeds at Westpoint for £245,000. It’s pretty much the same as the Manchester deal in terms of central location and rental price of £1,000 pcm. It just has a slightly higher ROI of 4.1% which is the equivalent of about £60 a month, so not life changing amounts.
Compared to the Manchester conversion, this property is a high-end new build. It’s got a huge balcony and whereas the Manchester apartment was 600 sqft, the Leeds apartment is over 900 sqft!
So does this make it a no brainer and Nathan should be going for bigger and newer?
Tune in to find out what The Robs have to say and which property they think Nathan should go for.
And if you want to find out more about whether you should invest in Manchester or Leeds, we have some handy resources for you right here:
This week’s news story isn’t coming from one of our beloved tabloids, we’re reading an open consultation from the government. So this lengthy headline of ‘A new deal for renting: resetting the balance of rights and responsibilities between landlords and tenants’ is actually worth reading as it’s to do with the appeal of section 21.
Everyone pretty much lost their minds a few months ago when section 21 came into play, but what are they hoping to do about it now we’ve all had a chance to digest it?
Are there changes ahead?
Have a read and listen to what The Robs think on this week’s episode.
This week’s Hub Extra is a book called ‘The Ultimate Blueprint for an Insanely Successful Business’ which is highly recommended by Rob D about accounting. Now don’t switch off just yet, we know accountancy isn’t the most exciting of topics, but this book will become more appealing to you the bigger you grow your business.
Even Rob B picked this as one of his holiday reads! So give it a read and let us know what you think.
We’d love to hear what you think of this week’s Property Podcast over on Facebook, Twitter or Instagram. You might even have a topic you’d like us to cover in the future - if so, pop us a message on social and we’ll see what we can do.
Make sure you’ve liked and subscribed to our brand new YouTube channel where we upload new content every week!
If that wasn’t enough, you can also join our friendly property community on the Property Hub forum.