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Where is best in the UK to flip?!


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Hello there

 

I am having difficulty in deciding what the best plan is to flip and would be grateful to get people's opinions on it.

 

My objective

To flip residential properties to build a capital-base rapidly.

 

Background

  • I am able to devote a large % of my time to building this portfolio and have access to cheap finance (up to £750k) and plan to do this through a company. 
  • I am geographically agnostic, although having spent the last 10 years in London I know it pretty well, especially south-west London.
  • I am new to the property development game so realise I have a lot to learn and mistakes will be made
  • I have strong financial modelling skills so will be OK with the numbers

 

Questions

  1. What do people think about flipping in London in the current environment?
  2. Are there other (geographical) areas I should be considering?
  3. I am thinking of converting houses into flats in emerging areas in London with all the usual boxes ticked to deliver something for first time buyers - is this sensible?

 

Any pointers, or recommendations of what NOT to do would be greatly received.

 

Thank you!

 

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Alba,

 

I think the flipping route is perfectly viable country, in fact world wide! You just have to know the market and know the numbers inside out to ensure a profit. Goes without saying, it's certainly easier in a rising market but I have made steady profits in a variety of markets, its all about the purchase price and achieving a saleable product, within budget!

 

Cheers

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  • 2 months later...

Never underestimate the strength of a good postcode, this can help you sell and create a 'bidding war'. Especially if your flipping it helps to be in a sellable area, makes the process quicker so you can release your investment and crack on with another! best of luck with it all - Jack 

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