In this episode of The Property GP Diaries, we dive into the world of property flipping — a fast-paced, strategy-driven approach to property investment. Our host shares personal experiences navigating various types of flips, what makes them profitable, and the essential factors you need to consider before jumping in. We also cover recent updates in the property journey, including ongoing viewings and new joint venture possibilities.
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🏡 Recent Property Updates:
- Followed up on a neighboring property with flip potential.
- Continued viewing multiple flip opportunities in the area.
- Explored new joint venture possibilities to fund upcoming projects.
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🔄 Flipping Properties – What You Need to Know:
We break down the fundamentals of property flipping — the different types, why it’s a solid strategy for investors, and the realities behind the shiny numbers you often see online.
**Types of Flips:**
- Cosmetic refurbishments
- Structural conversions (lofts, extensions)
- Title splits
- Adding extra bedrooms
- Planning uplift strategies
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💰 Why Flip Properties?
- Generate **lump sum capital quickly
- A great starting strategy for first-time investors
- Works well in **joint ventures
- Potential for **20%+ returns on investment
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📊 **Flip Strategy Essentials:
1️⃣ **Buy Below Market Value
2️⃣ **Target Motivated Sellers
3️⃣ **Avoid Complex Property Chains
4️⃣ **Budget for All Expenses**
Expenses to Consider:
- Purchase price
- Auction & legal fees
- Stamp duty
- Holding costs
- Refurbishment expenses
- Estate agent fees
- Bridging loan or finance costs
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💡Key Takeaways:
Flipping properties isn’t as easy as it seems — but when done right, it can be highly profitable. The key is to **do your due diligence, stay conservative with your numbers, and stay realistic with your timelines and budgets.**
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✈️ Personal Update:
Michael and Laura is actively viewing potential flip properties while exploring joint venture deals and continuing to balance property investing with other professional commitments.
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🎧 Stay tuned for more practical insights on property investment, strategy, and business growth!