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claudia t

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  1. Hi, my partner and I are planning to buy and renovate properties for a quick sale (flip houses) that we're living in and would like to do this twice a year for several years until we are mortgage free. Brexit is making us nervous and wondering if it's the right time to do this? I own a 4 bed semi (in Wirral, nr Liverpool) I bought for £210k in 2015. We plan to sell asap and buy a house for around £100k to start our venture. It doesn't help that we've been given different advice by estate agents. The house is in need of work - nothing major, decorating, new carpet, sort garden out, biggest one is replacing the wrecked decking - but to do it all could take a few months. Estate agents have valued it as it stands from £210k to £230k. Similar houses nearby done to high spec have gone for £235-£245k in the past year. My partner feels we should sell asap before Brexit as having a large house if houses prices are going to drop is riskiest, even if we take a slight hit on it, and crack on with flipping. I'm hesitant to sell lower without it being fully done up and miss out on getting top whack for it. As excited I am abour flipping houses, I'm also nervous about if it's the right time to flip houses, worried we could do our sums and our expected profit will be hit by house price drop. I owe £130k on the mortgage. The north does seem less affected than the south but noone really knows for sure what Brexit will bring. Any advice please?