How To Buy A House To Flip UK: In a recent video for my YouTube channel, I went to Gloucester, to tour a little small modest house. It was bought for £180,000 by one of my Academy members, Jay. With some nice little tweaks, he has managed to double the value of the property and make himself in excess of £1,000 clean profit, tax-free. I highly recommend watching the full video at the top of the page until the end to see exactly how he did it.
A lot of people want to get started flipping houses, but don’t know where to begin. If you are new to property, it can be hard to know where to find good information. As a multimillionaire property investor, who has trained many successful students to invest in property, I decided to write a simple guide. In this article, I will give you a 3-step guide on how to buy a house to flip UK. If you find this guide helpful, please consider sharing it on social media. Let’s get financial education into the hands of more ordinary people that need it the most!
How To Buy A House To Flip UK: 1. Finding The Right Property!
House flipping is about adding as much value to a property as you can, for as little money as you can! This means understanding what buyers want in general and what they want in the specific area you are purchasing in. This is not about creating your dream home for your own family. Use formulas, not feelings!
It is also important to know what you are likely to be allowed to do with the property. If the neighbours all have a certain type of extension, for example, it is more likely that you will be granted similar permissions. Use this information to choose a property that is going to generate the best return for you.
How To Buy A House To Flip UK: 2. Refurbish The Property!
Now that you have bought the property, the real work begins. If you are able to do some, or all, of the work yourself, you will increase the project's profitability. When choosing builders, make sure they have good references and reviews. Don’t simply pick the cheapest option, they might be cheap for a reason!
Consider living in the property as your residence. This will mean that you should not have to pay capital gains tax on the profits when you come to sell. Please speak to an independent tax professional to assess what taxes apply to your specific circumstances.
How To Buy A House To Flip UK: 3. The Exit Strategy!
Now that you have refurbished the property, you will probably want to sell. But what if you can’t find a buyer? You need to have multiple options available to you, so that you can choose the best one for your circumstances. These could include: selling the property; refinancing the property as a buy-to-let; or refinancing the property as a holiday let.
In order to complete all 3 steps, you will need some training. While it might all seem pretty straightforward, you are going to need support along the way. If you are interested in getting started with property training, the next section is for you!
How To Buy A House To Flip UK: Property Training!
Now that you have read my how to buy a house to flip UK guide, it's time to get some property training! Join me at my next £1 training event!
On the course, you will learn how to:
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Become a property investor using other people’s money so that you can get started straight away
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Utilise the 5 different types of raised finance so that you know exactly what to offer and when
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Find the perfect properties for the BRR strategy
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Recycle your money so that you can ‘rinse and repeat’
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Build a power team you can trust, so that you can save time and money
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And much more!
Tickets are only £1, and you can get yours here. If you are ready to take action, I hope to see you very soon!
