flipping a property

Lartyconshayo

Lartyconshayo

Lartyconshayo

Soldato
Joined
5 Dec 2010
Posts
3,318
Location
deep space nine
http://www.zoopla.co.uk/for-sale/details/28210438?search_identifier=c18a395c77bfcd4ee247747c310aa9d1

This prop looks to be internally in a reasonable state. I am not going to buy it as not in a position to do so. However the usual price for a 2 bed prop in this area can be over £100,000.

How much work do you think this place would need and what sort of work. Bear in mind I'm not the DIY sort so I would have to pay builders etc to make any adjustents that might be required.

TL;DR = Basically could this property be flipped and if so how much ?
 
It's not a Q of whether it can be turned around or not, its a Q of whether or not it will sell! Anything can be turned around. It's obviously in a poor area to even have a starting price so low. It's not as much the house that sells but the area that sells the house. . Everyone seems to jump on the property development band wagon after seeing it done so quick and all the positives on tv, but you never see the failed one that dont sell and their sat on the property losing hand over fist waiting for it to sell.

But to answer your Q, it could be done. Be time youve paid builders etc though, I doubt you would gain much profit. Do it yourself, maybe you would.
 
The cynical side of me says if there was money to be earned you wouldn't even see a for sale board. Agents have lists of developers of all sizes for property with potential.

Small margins can be eroded by a few months on the market paying interest.

Potentially a good rental?
 
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