ASK334: What if tenants don't pay? PLUS: How do I stop getting outbid?

The guys are back with another round of listener questions!  And this week we’ve got a double whammy!  We usually answer one question per listener but when the questions are this good, we just can’t say no to answering both, so let’s dive right into Alexis’ questions.  Alexis and her husband live in Manchester, and they’ve been trying to purchase a property for the last year, but due to the booming market, they’ve not been able to secure a property yet.  They put their first offer down back in April and they’ve put multiple offers down since, but each time they keep getting outbid and the houses end up selling above market value.  What Alexis wants to know is how do they stop getting outbid? And is it even possible in a hot market or does she need to bite the bullet and buy any property she can get her hands on just so they can get into the market?  Her next question is all about tenants.   Alexis’ neighbour is also a landlord and unfortunately, her tenants haven’t been paying their rent. Alexis knows that you can get insurance to help protect you in these circumstances, but what happens if you have multiple properties in the same boat as this would hugely impact cashflow.  Alexis wants Rob & Rob’s advice on what to do if her tenants don’t pay their rent.  Tune in to find out what advice the guys have got for her.  Do you have a buy-to-let or property investment related question for Rob & Rob? You could feature on the next episode by giving us a call on 013 808 00035 and leaving a message with your name and question (normal UK call rates apply).   Or if you prefer, click here to leave a recording via your computer instead.  The next question on Ask Rob & Rob could be yours.   Have you joined us over on the Property Hub Forum yet? Our online community is friendly, informative, and the members are waiting to welcome you with open arms. So, get yourself over and introduce yourself.  And if you’d like to find out more information about Portfolio you can do that here.  See omnystudio.com/listener for privacy information.