House Flipping 101
With the help of TV shows like The Block and House Rules, many Australian’s are giving House Flipping a lot of serious consideration as a property investment strategy.
Property Flipping can be explained as purchasing a property with the aim of adding value through renovating or extending and then selling it for a higher price. It’s generally a short term investment strategy and when done properly can be a quite lucrative property investment strategy.
Before you dive into buying your first run down “renovators delight” there are some very important details you should consider.
The most important thing you should know is that it’s MUCH harder without the support teams you don’t see on the TV shows.
I’ve spoken with a number of my clients who flip property and here’s some of their best advice.
Pre Purchase Rules
It’s not unusual for first time property flippers to feel like they’ve bitten off more than they can chew. But just like anything else you do, the more you do it, the easier it’ll get and the more comfortable you’ll be with it.
Most of our clients who flip property will either do it once and realise it’s not for them, or they’ll make it a serious part of their investment strategy.
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