Money Transfer (That's What I Want)

Hello there and welcome to Episode 8. That was Samuel Pitt from OFX, the online foreign exchange and payments company and he’ll be giving us all the tips and tricks for moving money later in the show. Now before Samuel tells us what we should or shouldn’t be doing on a Saturday night, Spoiler alert: it’s not transferring money, I’d like to ask you for a favour.

I’ve been receiving lots of emails from listeners, and I really appreciate your feedback because it means that I can provide the content that you want.

And today’s episode is an example of just that. I got an email from a listener in Singapore asking about transferring money to the UK to buy property. So please, please keep your emails coming in so that instead of guessing what you’re looking for, you can tell me what you’d like covered and I’ll find someone who knows more about it than me.

To get in touch, go to www.expatpropertystory.com and tap on the contact section in the menu and from there you can write me a message and give me your feedback  on the shows so far and your ideas for future episodes.

I wish I’d had more people to turn to back in 2017 when my wife and I were trying to turn our Expat Property Story into a Harry Potter type series rather than a Roald Dahl short story. Long time listeners will recall that our first purchase, a city centre apartment in Manchester had fallen through after it had been mistakenly sold to two different investors and we were the ones to miss out. Lightning struck twice and unbelievably the same thing had happened with our second attempt, a house on a new-build development on the outskirts of Leeds. This time, the sourcing agent had compensated us by reducing his fee by a thousand pounds and finding us an alternative property on the same estate.

Now, have you ever done that thing where you have a right go at someone about something and then you have to go back to the same person with your tail between your legs?

It reminds me of the time I was sat in a meeting at work once and someone’s phone went off and my dragon of a boss went mental. She had a thing about how it was totally unprofessional and unacceptable if your phone went off during a meeting. Well everyone started frantically checking their phones for what seemed ages until our boss rather sheepishly discovered that in fact it was her phone making all the noise!

So that’s a little bit how I felt when I went back to the agent with the news that I’d just got from my broker telling me that our lender would no longer be lending us the money. Last week’s guest Helen warned us of the possibility of new-build developments frequently being unmortgageable for various reasons, but this had nothing to do with the developer, and everything to do with the lender, who had changed their lending criteria.

They were no longer offering loans of less than £100,000 to anyone living outside the EU. This was of course back in the days when the UK was inside the EU so I guess that they have since amended this rule. But back in 2017, for us, this was a disaster. I was nervous that we’d lose both our fee for reserving the property and the fee for the sourcing agent and there’s another mistake you can learn from. Don’t pay a sourcer until after the deal has gone through.

It was a Friday when I found so I asked the sourcing agent to give me the weekend to try and find a solution. One such solution would be to buy it with cash and I thought about taking out what they call a ‘tax loan’ here in Hong Kong. These loans were originally offered to people in need of funds to pay their yearly tax loans and they’re available during the tax season which is roughly between November and April. The loans are quick to arrange and offer rates of interest as low as 1.85%. This is far cheaper than any mortgage.

In fact I heard about a guy here in Hong Kong who borrows money using a tax loan in Hong Kong at under 2% and then sends the money back to Australia to pay off big chunks of his mortgage loan which has a rate of just under 5%

Of course this strategy is not without risk. He could lose his job and of course there would be currency fluctuations, which we’ll cover later in the show.

So a tax loan was certainly one of the options in our toolbox in 2017.

We also thought about re-mortgaging our London property. We’d bought this property for just over £150,000 in 2003 and by 2017 there was less than £50,000 left to pay off.

Now, back then, the idea of remortgaging this property after spending so many years chipping away at the debt via a repayment mortgage was more than a little scary, but the more we learned about property investment and the more we thought about it, the less risky it seemed.

But since we couldn’t get a mortgage on this new property, all our money would be tied up in this one deal. It’s hard to believe we were even considering such a strategy now, let alone being on the point of acting on it. I guess that shows how far we’ve come.

Fortunately, we knew just enough back than to recognise that this would not be a good idea… so on the Monday, despite being worried that he wouldn’t give us back his commission I phoned the agent and told him that we wanted to pull out of the deal and I asked for the return of our funds.

The agent predictably suggested we leave the money on account while we waited for him to find an alternative property. I told him that I was open to the idea but that I had no idea how long it would take him to find a property we were happy with and that in the meantime I would rather have the money sitting in my bank account accruing interest rather than his. After a series of emails, he eventually agreed and the money was returned.

By this stage, we had already decided to change strategy. It was now November. The failed purchase of the flat in Manchester had been agreed in July and in the intervening four months, our property education via books, podcasts and property forums had continued.

In Episode One, I revealed that back in 2017, I was in my very early fifties and had embarked on a ten-year plan to build a property portfolio. But the more research I did the more I realised that a focus on capital growth would be too slow for our needs, and these properties we’d been trying in vain to buy represented just that: a punt on capital growth, rather than the promise of cashflow in the here and now.

So perhaps these failed purchases were not in fact failures. Maybe they were a blessing in disguise?

Although we hadn’t worked out the details of our focus on yield rather than capital growth we knew that the first step would be to re-mortgage our London property to raise more funds.

As Chapter One of our Expat Property Story comes to a close, we still haven’t bought a property, but no deal is better than a bad deal.

Tune in next week to find out what happens next

Now as I said this episode is in response to an email from a listener who asked for advice on moving money from one currency to another so I invited my foreign exchange brokerage to give us some hints and that’s what Samuel Pitt from OFX did. I started by asking him how the company started.

Samuel Pitt

It was born out of a garden shed in northern beaches of Sydney, actually, two blokes came together about 20 years ago, thinking about the foreign exchange, you know, international money transfer situation in Australia, and they thought the only way to move money in or out of the country was through the banks. And to do that money transfer through the banks cost a  lot of money took a lot of time, there were a lot of fees and charges and, you know, hidden complexities, and they  thought there must be a better way to actually do things. So they came together. And this was at the advent of the Internet. And they sort of came together and they created this webpage to basically educate the Australian community as to you know, the do's and don'ts of the ins and outs of international money transfers. And that evolved from an Information Service to an actual service where people could register an FX account, and they could move their money instead of through the banks through this organisation back then it was called USD Forex, the way it basically worked was when someone needed to transfer some money, the United States, for example, they would send out effects the Australian dollars, and then our effects would maintain a USD account on shore in the US. And so when the Australian dollars had been received in the Australian dollar account in Australia, then the US equivalent would be paid out of the USD account onshore and the US to wherever it was going in the US. So we're looking at two domestic transfers, you know, all right. We weren't using or utilising the Swift networks or other rails, it was just basically two domestic payments, which made for a much happier situation, that evolution continued over the next 20 years. Fast forward to today 2022 And we're an ASX listed company, headquartered here in Sydney, with eight locations around the world, our second largest operations in London, followed by San Francisco, Toronto, Hong Kong, Singapore, Auckland, and we've just opened an office in Dublin to serve as our European friends since the Brexit situation, the licensing. And regulatory landscape meant that we had to open a European office and Dublin was the lucky location. So here we are, we've transferred billions of dollars, you know, we've got 10s of 1000s of customers in all reaches of the world. And it's all sort of bubbling along really well.

Expat Property-Guy

When I started using you guys, you were called Clear FX.

Samuel Pitt

So Clear FX is our Hong Kong outfit. Basically, what we had was we had Oz Forex here in Australia, UK Forex in the UK, US Forex in the US Clear FX in Hong Kong, and so on. And then about three years ago, we went through a global rebrand. And so while all of those entities remain those legal entities, we're now just known as OFX globally.

Expat Property-Guy

So for people who don't know who are just looking to start transferring money, you need an account with OFX, right?

Samuel Pitt

That's right, whenever we're moving money. And this is actually a really important point. So say, I want to move money to Hong Kong, for whatever reason, I have to register an OFX account in my name. And then when I'm doing that transaction, when I'm sending, say, my Australian dollars to OFX to then be converted and pay to Hong Kong dollars, those funds have to come from an account in MY name, it can't come from your account or someone else's account, it has to come from an account that says Samuel Pitt, through my own fixed account, and then it can be paid to whomever the beneficiary obviously doesn't have to be an account in my name, it can be can be to you for a gift or to my sister or my supplier that I'm doing business with, what have you

Expat Property-Guy

So the recipient doesn't need to have an account?

Samuel Pitt

No, that's right.

Expat Property-Guy

So I was doing a little bit of research on all things to do with Forex. And I'm a bit of an amateur Sam, I'll be honest with you. But I came across a couple of things that you SHOULD know about, which I don't know about. And one of them is something called tight spread. What does that mean?

Samuel Pitt

Well spread is just basically when you're looking at the margin that's applied to the interbank rate. So what you'll find is the currency markets are very volatile, and they're constantly moving, alright, so if I'm going to do a spot transfer, that's just a, you know, when I'm not looking at any sort of hedging or risk mitigation strategies, if I'm just doing a straight transfer from me to you, I'll be doing what's called a spot transfers, I'll just be taking the rate at the time I'm transferring. So the interbank rate is the rate that's set by the price makers. Okay. So it's the rate that you see on the on the television, when you look at the Forex report, or if you look on the internet, you see, you know, what's the US dollar doing? That's the interbank rate. Now, the way that anyone makes money on forex transactions is by applying a margin to that rate. So when you see that the, you know, the US dollar sitting at 71 cents, that's obviously not the rate that you're going to be transacting on because, I mean, then it would be a free service and just not how the world works. So on every transaction, there'll be an application of margin. So typically, what you'll see a bank doing is they'll apply a margin and say two to 5%, on top of that interbank rate. So that's the spread. And then typically what you'd see with OFX for example, on how much you're looking to transfer and in which currency pair, we would apply margin more like less than half a percent. So that's a very tight spread, you'd typically see a bank operating on very flabby margins of widespread and then operators like our effects would be operating on a very tight margin or tight spreads.

Expat Property-Guy

As a customer, you want a tight spread?

Samuel Pitt

You do,

Expat Property-Guy

Right, ok

Samuel Pitt

The tighter the better,

Narrator

The larger the value of a transaction, the tighter the spread. So you would typically get a much better rate transferring a million dollars as you would transferring 1000.

Samuel Pitt

It all depends on the currency pair. So obviously, thresholds will be different when we're transferring between or converting between, you know, Australian dollars and US dollars, as opposed to a more exotic currency, say, Thai baht, or South African rand, or one of the lesser traded currencies, I couldn't really tell you off the top of my head, what the thresholds might be, I mean that the price brackets would really be between $250 and $10,000. And then between $10,000 and $100,000. And then perhaps between 100 and $100,000, and 500,000, and then a million plus.

Expat Property-Guy

In my experience, you guys have been the cheapest way for me to transfer money to the UK. And I did sit down with a friend of mine. And in Hong Kong, with HSBC, for example, they've got this account, it's called a Premier account, where you have to have a million Hong Kong dollars in it. And that will get you a better rate. We sat down and tried to do the maths on this. And the rate was pretty much exactly the same. If you use an OFX account as if you use an HSBC Premier account. So how come your rates are so low? How do you manage to do that compared to your competitors?

Samuel Pitt

Yeah, it's a good question. The way that we managed to work on such tight spreads is pretty simple. When you think about the banks, and you think about the FX component of a bank, it's about less than 1% of their business. Okay, so banks are very good at all sorts of things. And don't get me wrong, I'll never bank bash, because we have terrific relationships with our banking partners around the world. And we all need banks for mortgages, home loans, credit cards, transactional banking, we need banks for all of these things. But what we don't need banks for is as foreign exchange because it's such a minuscule part of their business they don't care about and they don't do it very well. We've got eight offices around the world, we've got 400 staff, and all we do is FX, okay, whereas the banks have got their fingers in all sorts of pies, they've got hundreds of 1000s of employees, shopfronts, staff, they're paying their CEOs 10s of millions of dollars a year, whereas our fix is a much leaner operation, all we do is FX, we don't offer cards, or mortgages or lending or what have you, just effects where we always can, we're always facilitating domestic transfers. So in that respect, we can keep things very tight. That's how we can offer on some transfers, you know, margins less than half a percent, whereas the banks, you know, they're just not in a position to offer such sharp rates, because, you know, they have other priorities

Expat Property-Guy

Because of the nature of their business...  I learned a great new word there bank bashing? Is there a better day of the week for transferring money?

Samuel Pitt

Yes, well, this is a very good question. Never transfer must be careful. I can't give advice, but you must never transfer on a weekend, the month the currency markets closed on the weekend. So you just get the worst rate, you know, possible on a weekend. And they often say, Look, don't transfer on a Monday or Friday, because, you know, the markets are just opening or about to close. So, you know, if I was gonna say the best time to transfer would be anyway, on a Tuesday through Thursday,

Narrator

Predicting the movement of a currency pair is practically impossible.

Samuel Pitt 

The currency markets are so volatile, and, you know, depending on which currency hearing you're looking at, but and so many factors, you know, who's sitting in the White House? And what's going on with COVID? How many, you know, what's the employment rate here? What's you know, what's going on with Putin over there? You know, all of these factors, really do play a part in offence. There's just so many factors that it's kind of impossible to predict and strike. But we can be very clear in knowing that the markets are closed on the weekend, I often get that query, you know, say on a Tuesday, and they say, Oh, I was looking at the rates, and they were very poor. See, when were you looking at the rates on Saturday night? You know, I thought, well, you should be doing something more interesting than looking at the markets on the Saturday night anyway. Nonetheless, the reason you saw a very poor rate on Saturday night was because the markets were closed. Have another look now, are the rates improved? That's always a good one to keep in your back pocket.

Expat Property-Guy 

Is it seasonal as well, I guess that would apply to things like Christmas, Chinese New Year, depending on the holidays of one of the pairs that you're transferring between would have an effect.

Samuel Pitt 

That's true that does have an effect and a bit more than that. It's always about timing as well. So You've got to be very careful, especially leading up to the Christmas period, you want to have all your ducks in a row because obviously, there's a plethora of public holidays and bits and pieces where we've got to be mindful of that as well. We send a blanket email to all of our customers about two weeks before Christmas, saying, you know, if you're thinking to transfer money for gifts, or what have you get it done before that time, because you don't want to get stuck between that Christmas and New Year period.

Expat Property-Guy 

The other thing that I noticed when I was doing my research was the speed of execution of a transfer is quite important, obviously, how fast are you guys?

Samuel Pitt 

Because we're facilitating to domestic payments, the payments will be same day and taking into account time difference. For example, if I'm moving Australian dollars to US dollars, and I book a deal on Tuesday morning, and I send the Australian dollars to OFX on Tuesday morning, it's domestic payment will receive those dollars that day. And then as soon as we receive those dollars marketers received, we pay out of our USD account to wherever the recipient is in the US. So that money will almost get there before I've sent it with the time difference, because we're just doing two domestic payments. So for major currency corridors, it's generally same or next day, we've just had a recent innovation actually, in the last three months where we're using a new technology and new provider with some of our more exotic currencies, so Filipino Peso, Indian Rupee Indonesian Rupiah, and Malaysian Ringgit with this new technology API technology, a new provider, the payments are actually instant. So that's been terribly exciting. Because previously, we using one of our banking partners, those payments, were taking three business days. Now they're taking about seven seconds. But yes, I mean, every day that things are getting faster and cheaper and more convenient, because this is what consumers are demanding.

Expat Property-Guy 

Should clients be mindful about transferring a large amount? Is it better to do it in several tranches?

Samuel Pitt

Yeah, well, this is also a good point, because especially when we're looking at larger transfers, say you sold a property or you're buying a boat, or, you know, for those big ticket items, what you'll find is with OFX, at least, there's no maximum, but where you will see a limit. And often a daily limit is with the bank. So getting the money to OFX. I was helping a gentleman this week, purchasing a property here in Sydney, and his money was coming from Ireland. So he booked a 300,000 Euro transfer, but his Irish bank would only let him transfer 20,000 euros each day. So he was concerned as to how that will work. But we could provide him with some comfort, because he can book the deal with OFX for 300,000 euros, and then fund the deal in tranches, we're not going to cancel the deal, the rate is locked at the time the deal was booked. And then it might take him a week to fund the deal. But that's no big deal. If he was in Ireland, he could probably walk into his bank and say I'd like to increase the daily limit. And he could probably move the 300,000 to us in one go. But because he wasn't in Ireland, and because of the security measures that have been increased in that respect, he had to just move the money in that respect. And the same goes with the US payments. If you're not physically in the United States, a US bank won't let you transfer from your account to ours. So we'll have to direct debit the funds. And that's another consideration as well.

Narrator

The more money you're transferring, the more important currency exchange rates become.

Expat Property-Guy

I guess there must be a trade off between the amount that you're transferring to get you the better rate because you're transferring more. And the idea that you want to hedge your bets,

Samuel Pitt

When you've got a large amount, you can hedge your bets because you think well, I can transfer it today's right? And it's pretty good. But what if tomorrow, it's even better? So the question is, do I transfer it all now? Or do I do it in two or three lots. And that's a matter for you. But obviously, there are always options to think about, you know, risk mitigation strategies, and so on. And there's forward exchange contracts is one of them and also limit orders.

Narrator

If you don't have the funds available to transfer, but you're happy with the rate, you can arrange what's called a forward contract,

Samuel Pitt

All you're doing with the forward exchange contract is locking in a rate for a period of time. So I can purchase a million US dollars at this rate. And I can draw down on that periodically to make my payments instead of paying an invoice in January at this rate and then paying an invoice in February at a poor right and then paying another invoice in March at a better you know I can have certainty I can budget I can you know all of my reporting takes on a whole new level of sophistication and clarity.

Narrator

Limit orders allow you to transfer funds when the rate hits a pre specified figure

Samuel Pitt

With a limit order for example, or say I've just sold my property here in Australia and I'm moving to the UK and my funds are sitting in my Australian dollar account and I don't have a whole lot of urgency I can just I'm just waiting for special rate to maximise the amount of sterling that I'm gonna get on the other end. I can fix for example, to put in a limit order so they'll target a rate of favourable rate. So we'll talk with our current CDOs about what that looks like. Because obviously we're not going to target advance for rate that's never going to occur when so anyway, basically, I'll fix can watch the market for you. 24 hours Do you set a set a timer to say in the next three months if the rate hits here, that's when I'd like to transact. And I'd like to convert the funds and pay out Sterling. So it's basically targeting a rate when and if the market hits that rate, that's when it becomes contractual, that's when we'll purchase the currency from the market. And then if the market doesn't hit that rate, the deal just falls away. Nothing comes of it. In terms of a forward exchange contract, we typically, you know, lock rates for 12 months, but you can roll the forward forward for another 12 months, up to 24 months. But what you have to remember with a forward is you do have an obligation to follow through with the forward. You can't just keep rolling it forward. The contract has to be finalised at some point as opposed to an option. And we don't play a lot in the options space. But we do offer vanilla options where you can obviously take advantage of the upside, and you can walk away from it as well. So that that becomes particularly good when you're looking at property purchases, for example, from purchasing a property in the UK. And there's a lot of uncertainty around you know, property transactions, especially you know, what happens if that falls through? or what have you with a forward? Yes, you can, you can lock in a rate now you can draw down perhaps for your deposit, and then and then finalise settlement, whatever it is down the track, regardless of what the rate is down the track, you've locked in your rate. So you're fine. But you've got to make good on that contract. With an option, if something dreadful happens, and it all falls to bits, you can walk away from that contract.

Expat Property-Guy

Why would you do a forward contract if you can do an option? 

Samuel Pitt

Because an option you've got to pay a premium with afford we typically ask for 5% deposit on the forward with an option, you've got to pay a premium, whatever that premium is, depends on I wouldn't go into the machinations of that. But you do have to pay a premium to enjoy that freedom. I suppose there's no such thing as a free lunch.

Expat Property-Guy

Wouldn't it be great if you could have a backward contract ha ha?

Samuel Pitt

Yeah, wouldn't that be great... ha ha But those risk mitigation strategies, they are important and something that you can't typically work very well with your bank is impossible to raise anyone on the phone from the bank at the best of times, that alone help you with these strategies. And that's what someone like our FX does really well.

Expat Property-Guy

I did have a situation a couple of years ago back in 2019. And I used the forward contract facility. So I was selling a property here in Hong Kong, the sale had been agreed. And I wanted to transfer the money to buy property in the UK. So the sale had been arranged. But the buyer of the property in Hong Kong needed more time to pay me the deposit. And at the time, there was a general election in the UK. And I was worried that the pound would rise after the election. And I wouldn't have the funds available to transfer until after the election. So I looked into the forward contract currency idea, only to find out that legislation had been passed a couple of years ago, meaning that you could only place a forward contract if you were directly paying for goods or service. But then it turned out that the legislation didn't apply to me because I was based in Hong Kong. So what... Are there different...

Samuel Pitt

Well, it's always very important to make your inquiries as to where you are in the world and which currencies you're dealing with to make sure that you're in a position to take out such cover. So Hong Kong, we do offer forwards, there's absolutely no issue there. In all of our regions. Singapore is the only region that we can afford at this stage.

Expat Property-Guy

How would it have worked? If I was transferring from Singapore, for example? Would I have to provide documentation that it was for a goods and service?

Samuel Pitt

Well, if you'd asked our Singapore team to book a forward for you, we just would tell you that we're not licensed, to engage in that kind of transaction.

Expat Property-Guy

I did, in fact, end up booking that forward contract. But I was nervous at the time that my buyer would pull out of the deal. I've booked a forward contract, and I can't actually go through with it. What would have happened then?

Samuel Pitt

Well, and this is what we were talking about with the forward, you still have to make good on the contract. Whereas if you'd have been an option, then you could have just walked away, but you still would have to honour them.

Expat Property-Guy

And what happens if you don't?

Samuel Pitt

Then we would obviously have to recoup the funds in some way, shape or form.

Expat Property-Guy

Okay, right. Not horses heads or anything like that in the bed or anything like that? Ha ha

Samuel Pitt

No, no ha ha

Expat Property-Guy

What is the worst thing that you can do? If you're transferring money? Apart from what you said about not transferring at the weekend? Probably try and avoid Mondays and Fridays. Is there anything else that you should say? Okay, no, don't do that.

Samuel Pitt

That's a good question. What's the worst thing you can do? I did have a gentleman towards the end of last year and he was purchasing a very expensive car in Japan and we'd booked the deal for a considerable amount of money. And then the gentleman walked into a bank and deposited cash to fund the deal. Obviously, typically, it's always bank to bank transfer service earning no cash. Everyone's terribly frightened of cash from an anti money laundering perspective. So never try and fund a deal that you've booked with cash. I think that's an absolute 'do not do' because then, trying to get the cash back to him and have the records There's transactions and slips. And it was an absolute nightmare that took a long time to resolve. Never try and fund a deal the cash never transfer on the weekend. And never fund a deal from an account that's not yours on your own fix, for example profile, because it's going to be a nightmare. And always make sure that your details are correct. Your SWIFT codes are correct your account number and base being sought codes and all of those, those routing numbers are all correct, because the recall of funds not mentioning any names. HSBC is an absolute nightmare, and takes months and months and months. And it's a very frustrating situation. So always make sure you're very calm, cool, calm and collected and have all the right information. So we can get the job done as neatly as possible.

Expat Property-Guy

You talked about risk mitigation, is there anything that you could say about that, that you haven't already said?

Samuel Pitt

No, I think we've covered it off. I mean, really the main strategies of the Ford exchange contracts that limit orders that the dealer options, you know, being careful not to transfer on the weekends. And to think about, you know, at a very basic level, transferring funds, large amounts of money in tranches to get sensible.

Expat Property-Guy

Have you bought a joke for our listeners? Sam?

Samuel Pitt

I've got a couple of jokes actually.

Expat Property-Guy

Oh two. Okay, good.

Samuel Pitt

So the first one is when Apple you know the company when Apple finally makes a car. Which part of the car won't be there? I don't know which part of the car won't be there. Windows, of course.

Expat Property-Guy

Very good. Yeah. I like that one. Okay.

Samuel Pitt

The other one. Why did the vampire really enjoy reading the newspaper?

Expat Property-Guy 

I don't know, why?

Samuel Pitt 

 Because he heard it had really good circulation.

Expat Property-Guy

Fantastic. Excellent. A blood joke. It's our very blood joke.

Samuel Pitt 

Got to end on end on the blood joke.

Expat Property-Guy 

Well, not quite end because of course Monopoly Challenge. Did you play Monopoly as a kid?

Samuel Pitt

Yeah, I did. Actually, I quite enjoyed it.

Expat Property-Guy

Do you have a strategy? A favourite strategy?

Samuel Pitt

Oh just get Park Lane or in Mayfair...

Narrator

Monopoly Challenge.

Expat Property-Guy

So just to remind you, Samuel, you have 30 seconds to name as many squares as you can on the Monopoly board. You cannot repeat any squares. Are you ready? I'm ready. Your time starts now.

Samuel Pitt

Old Kent Road. King Kings Cross Station Pall Mall, Marleybone Station Fleet Street, Trafalgar Square, Piccadilly, Oxford Street. Park Lane, Mayfair. How'd I go?

Narrator

Sam scored 10 Which puts him one above Rob Dix from Episode One

Expat Property-Guy

Thank you so much, Sam. Really appreciated that. I enjoyed our conversation.

Samuel Pitt

Oh, good no, that's a pleasure. It's been good to chat.

Expat Property-Guy

Bye bye.

Samuel Pitt

Bye.

Expat Property-Guy

I hope you got some value from my chat with Sam and if you know anyone who would find Sam’s advice useful, get I touch with them and share the show. if you haven’t already subscribed, you can do so at www.expatpropertystory.com

And please keep those emails coming in. I reply to every one of them!

In next week’s show, we’re off to the Middle East to hear an expat property story featuring Bradford and Dubai.

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