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Showing results for tags 'flips'.
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Hello All, First of all I would like to introduce myself, my name is Moe and I currently work in IT , IT was a hobby turned into a profession, however this can change when you no longer do what you are passionate about but what you are told to do. Fortunately I found property and fell in love with property and different ideas or income generating streams that property can provide while helping people and being your own boss. I Currently have 1 property paid off (I know its not right thing to do) but this is a security for the girls in my family in the event of a disaster, I currently let it out for passive income and one i currently live in which has a nice little bit of equity. I live in Glasgow so ideally will be investing here, The more I learn the less certain of the strategy I want to follow but I will stick to my original plan that is to FLIP or BRRRR depending on the circumstances, I do have some refurb skills and know of people who are very handy who can help in refurbs at much lower costs. In terms of skill sets, I might not be the best in property yet but I will strive to learn as I go long, I do have IT technical skills that might be very useful in the property industry for automation or cloud services. I am also a gym fitness bunny, Fitness is my longest passion (16+ years) I am in my early 30s so if my skill sets above can be offset to some of yours then please don't be shy. Also moving forward, If you ever notice bad grammar go easy on me and please correct me English is my 4th language but slowly becoming my first if that make sense, if you don't use it you loose it.
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Hi, has anyone worked with an individual or company who sources properties that need renovation (i.e. to flip) in any of the following areas?: - Northamptonshire - Cambridgeshire - Bedfordshire I'm struggling to find a sourcer who works with people looking to flip properties rather than BTL. Thanks in advance, Abby -
I am looking into flipping a property, but given that it normally takes up to 6 months for a new owners details to bet registered in the title in land & registry (from what I have read), how do i sell a property if I am able to renovate it within 1 month after purchasing it? Wouldn't the fact that my details haven't been registered in Land Registry as the owner affect the ability to sell the property after renovating it? Thanks in advance -
Hi everyone, I am looking to buy a property to flip in Birmingham and was wondering if anyone else either flips or invests there? If so I wondered if they would be able to help me out with regards to areas to avoid, or potentially good areas to look at? By budget is really around the 100K - 120K mark and I am looking to make 20% profit at the end of the project. I am currently analysing the area and viewing properties in various locations but obviously it is a big place and this can be very time consuming so I am looking to try and speed up my next deal and be more efficient with my viewings. Any advice would be greatly appreciated! Thanks in advance! Aaron -
Hi Everyone, My name is Joe and I am new to the PropertyHub forum. After spending some time scrolling through the site I haven't had much joy in finding any information on my topic for whatever reason. I am in a position where I am looking to start flipping property and what really attracts me is converting 2/3 bed bungalows into 4/5 beds, by the means of extensions/dormers etc. Really I am looking for advice on what the costs of these projects might be. I am aware that it will completely vary property to property. However even just rough estimates would be of massive help. Things such as a new roof/or dormer, single story extension, rendering, plastering, new staircase. My thinking is that there will be a large amount of people on here who have undergone similar work and any advice would go a long way! Also anybody who has undergone similar projects perhaps this would be a great place to showcase some of the work with before/after pics? Thanks Joe
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We have a property on a BTL. It's currently empty but recently renovated and so we're going to sell it. We're prepared to wait for the right price. Of course, it will sell easier without tenants, especially as we think it'll be a family not an investor purchase. It may also take a while to complete once we get an offer. Question, if we accept an offer from someone, could they rent the property from us until completion? Not sure how this works with the requisite notice etc. I'm aware I also need to think about the difficulties in selling it to someone else should the purchase fall through for any reason. Would welcome thoughts.
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Hi, I'm keen to know if any of you flippers out there have had to revise your strategy in the short to medium term with all the uncertainty around coronavirus? I was thinking about venturing into flipping in July/August and felt I had a strategy that would allow me to reinvest profits over time into BTLs. I'm now not sure it's a good idea and wonder if it's better to research and focus on a different approach. Keen to know your thoughts and plans. Best wishes, Kris
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Hello! My partner Julia and I are based in Edinburgh, both work full time (although I'm currently furloughed!) and want to start building a new future for ourselves and have landed on property as the route we want to go. As a rough idea of our plans we want to start by flipping properties to build up some capital and then look to build a bit of a portfolio. To achieve this I'm looking to quit my job and attempt to do most of the work on the properties (barring any complex electrical/plumbing/structural work). I've not done that much before but i'm pretty handy and a quick learner whilst Julia will be in charge of all things money whilst continuing in her current job. As a starting point it would be great if anyone could offer any advice for new starters, especially regarding: good areas to invest around Edinburgh (within an hours drive ideally) any good solicitors in the Edinburgh area to work with loans/financial strategies key things to look out for general advice! Any help much appreciated! All the best, Pete and Julia
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Hi I am from Reading and currently going through the Goliath Sourcing Academy training. I have learned alot about property over the last month. I am in the process of putting together my goals formally. My end goal is to build a buy to let portfolio with the aim of earning atleast 7,000pcm after tax. My chosen strategy is BRRR or BR and flip. However I do not have enough capital to source. So my strategy will be to Co source deals with a deal sourcer, use that money to start my own deal sourcing business, use the money from the business to implement my strategy. Therefore if anyone if anyone is happy to assist me even look over some of the deals I have have to point me to the right direction, I would really appreciate it. Thanks all Yvette
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Hello everyone!! I am 25 and have recently quit my job to flip property full time. My fiance has a well paying job so is happy to support us in the mean time. We have a family investor who has offered us £200,000, though this doesn't go a long way as we are in the South East. My biggest problem is confidence. I have found what i believe is a very promising property but am struggling to find the guts to do it. Any advice on confidence (or anything flip related) would be amazing!! Thank you
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Hi guys, looking for deals on the market as usual. Im finding if really difficult to find BMV propertys that are actually worth it at the moment. Where can i find any property’s that are actually a good deal?? Any help is very appreciated. Thank You -
Im new to property investing and wants to do flips. i have looked at a hypothetical scenario where i purchase at a price of £145k and resale at £200k. Having looked at the capital gains tax i need to pay on the HMRC website, i can use solicitor fees, stamp duty and estate agency fees against the sale price but am not allowed claim the refurbishment costs as they are repairs not improvements. HMRC have calculated the tax at circa £9k at 28% tax rate. I have calculated a developers profit of £20k so half of my profit would be taken in tax. am i calculating this correctly or is my hypothetical scenario realistic? please help!
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Hi all, really looking forward to getting stuck into this forum, been listening to the podcast for a few months now and am excited about being a part of this great community. Bit of background; My family business is property, my grandad built lots of blocks of flats in the 50’s/60’s and kept a few in a portfolio as a legacy. Because of this Ive always been interested in property. I fell in to working in finance after finishing school and worked for 20 years in various sectors. (If you’re having any trouble getting your bills paid on time I may have some tips for you ) I bought my first home, on the very edge of south London back in 2010 and was happy to pay off the mortgage slowly while watching the equity grow... Then 2 years ago I had a baby and had some decisions to make about going back to work... I decided to sell my house, we’re renting somewhere great now, I have a nice cushion of funds in the bank and I’ve been able to buy my first project for cash. it’s a 3 bed semi in Derby, I’m half way through the renovation now and I couldn’t be happier. I don’t have to work a conventional day job anymore, I get to look after my son and I’m finally working towards my property goals. I’ve made some great connections with trades, learnt a lot already and should make a nice profit! I‘m focusing on flipping (Derby/Nottingham area for now) to keep my pot of money growing, but want to build a b2l portfolio too. My current strategy is to flip 2 then split the funds for another flip AND a single let... and repeat. Though I haven’t yet had my strategy call yet, so this may change. My long term goal is to build my own legacy and follow in my grandads footsteps. thanks for reading all this! If you made it this far Good luck with whatever you’re working on, see you in another thread!
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Hello everyone, My current strategy is to flip a few properties to raise enough capital to then invest in BTL's, and then eventually HMO's. I have decided to flip properties in Manchester, with my target market being 1st time buyers. However when it comes down to locating specific places to invest in flips, I come to a complete brain freeze- I'm a bit overwhelmed when it comes to picking more specific locations! I only moved to Manchester a year ago so many of the different areas are still knew to me. I've started going through local forums and finding where people are recommending are nice areas for 1st time buyers to live- I've noted a few areas such as some areas of Salford and Didsbury that keep being recommended by most people. I know the criteria for a good area is usually good transports links, close to local shops, restaurants and bars and usually where there are good employmers and employment opportunities- and I do take these into account when searching for specific areas to invest in. However I've also found quite a few case studies of flips on rightmove that have been in the Wythenshawe area- although I've been told that wythenshawe is not a popular area for 1st time buyers? So are case studies of flips a good indication that an area is suitable for flipping or not? Or should I focus on the statistics like finding an area that has good transport links, employment opportunities etc..... Can any fellow flippers/renovators share any tips or knowledge regarding finding locations to invest in Manchester? Any advice would be greatly appreciated. Thank you! -
I'm new to investing in property . I have around 32-40 k cash. I was wondering which cities or area should I look if I want to flip and get around 10-15 k in return ? I'm of course open to bridge . Thanks for the help
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Having dipped my toe into the BTL market for the first time last year, I’ve recently decided to attempt my first flip. Me and my business partner are planning to pool some money together and buy somewhere, renovate, and hopefully sell for a profit. If it goes well we’ll go again, if the gains are modest it may just go towards another BTL... My question (or questions) are - Which renovations will add the most value? And perhaps more importantly - are we crazy for attempting this as when all is said and done it may line up with us looking to sell the property towards the end of the year when we could be crashing out of the EU!?... for a bit of background we are looking in the south east of England, namely Kent/Essex, as this is where my BTL properties are and the project will be easier to manage. any advise would be appreciated, cheers.
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Hi, I am a qualified Surveyor with over 20 years of experience and after setting up my own Chartered Surveying practice i have decided to embark upon a new journey into property investment. My main objective is to build a investment portfolio that will support me in later life, and which i can pass on to my children when my time is up. Giving them the freedom to choose how they live their lives. My plan is to do this by starting off with BRR & flips, as i currently have limited funds but 20 year of construction knowledge, with the intention of reinvesting the profits in order to acquire a wide variety of investments (to give stability). I would welcome any advice and/or the opportunity to interact with anyone and am happy to try to help with any surveying or construction related questions. Kind regards Westley -
Hi, I've been renting properties for a few years, and ticking over. Now, I have given up my job and am focusing full time on producing an income from property. Most likely I'm looking at flips, I think I have enough cash to support this, but I'm open to other strategies. I need help in structuring my large-scale goals and putting in reasonable timescales to achieve those goals. After that I'd probably want to join a mastermind group to keep my goals on track, and to help with contacts for all the things I'll need to do cheers, David.
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We have set up our Limited Company this month, it will do flips (to expand the investment pot) and later on it will start to buying-refurbishing-managing HMOs. We are in need of an accountant and would prefer one that also invest in property. Does anyone know one preferably based in London? -
Hi fellow Hubbers My partner and I are looking at investing in Birmingham and surrounds and was wondering if anyone can help on the better areas to invest in? We have only thus far invested in Sheffield and do not know the Midlands very well. We are looking to do a flip potentially, minor works though as it would be our first, or just a simple buy to let if it presents itself. Probably in the £60K - £90K region cash wise. Also happy to invest in towns where the 'ripple effect' has not yet taken hold! I am open to areas in and around Birmingham up to 1 hour away, we stay in London and would want to come up on weekends. Thanks in advance and any advice would be greatly appreciated. Best regards, Alex -
Hey! As the title suggests I am looking for recommendations of resources of informations in regards to flipping and renovating houses. Anything from books, podcasts and websites would be greatly appreciated. Thanks, Martin
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Greetings all! I thought I’d just drop a few lines here as to my current situation, strategy and goals to see how it stacks up on this forum. Basically I will be getting into property full time from May 2019 and will be around this forum regularly for advice, encouragement and comradeship! OK, so I’ve had a nice little flat in South London since the early 90’s which has done very well value wise over the years. But now the lease is about to drop to under 90 years so I’ve decided to sell it on. Obviously there’s also the option of extending the lease, however I want to increase my capital by reinvesting it in property and I also feel that freeholds are a much safer option. So now that I’ve made this decision I have set aside one year beginning from May 2019 to work fulltime at this. If it works out I can then spend 5 months every year fulltime on it. The plan is to purchase 2 flips and 1 BTL. The flips are to increase my capital so that I can go back and repurchase if successful the first time around, while the BTL’s are to hold onto and begin to build up a stream of passive income. I want to do this as a cycle. If the first time works out I’ll then do it again in 2020, ie 2 flips, 1 BTL and keep on doing this every year until I have enough passive income from the BTL’s to cover basic living costs and that I am confident with the flips that I can expand into larger refurb projects. I’m completely flexible and can do this anywhere in England. For the flips I’ll be chasing the BMV’s (I’ve signed up to EIG and am basically scouring the country for anything that looks substantially BMV, followed up of course by the due diligence) and for the BTL’s, I’ll be looking for more up and coming postcodes, ie northern powerhouses. In terms of my experience, it’s not great! I have some experience in construction from many years ago as a builder’s mate! But I am confident in project management. I produce films with large crews and tiny budgets in incredibly challenging locations (Nepal!) and on tight schedules, so I’m guessing the skillset could be similar. Also I’ve started a 1 year diploma in construction management, though I’m sure that’ll be nowhere near as effective as real on the ground experience Basically, I have one year from now to get prepared for this and I wanted to check in with this forum and say hi
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Hi everyone, My name is Luz, Im originally from Mexico and I live in Hong Kong. My husband and I are starting our property investment adventure in UK and very happy to have found this forum, full of kindred spirits. Truly hoping to learn more and appreciative of any advice and help during our journey. Hope we can make new friends and hopefully business partners along the way. Luz
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Hello, I am interested in investing in someone who has a track record of flipping, I have around £30,000 to invest and would like to not just give the money but help out. My goal is to grow my investment over time while learning how to become a competent property flipper myself. The area I'd like to invest in would preferably be in the North but anywhere in the UK for the first 1 or 2 would be fine. How would you go about this? Are there any resources you can share? Thanks!
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Hi everyone, Just a friendly hello from watford. Like many others, I have spent a long time educating myself on property and am about to start my property journey. I would be very interested to hear from other investors (especially in the Watford and Hertfordshire area) to see what other people are up to (maybe see some of you at the St Albans property meet). Hopefully speak to some of you soon! Aaron
