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        Seven Tips for Flipping For Profit

        Property flipping for profit if done the right way can be a challenging yet exciting way to make money. But it’s not as simple as buying a property and selling it for a profit. There are a lot of things to consider before you start. Below we outline seven tips for property flipping.

        1. Research your market

        Before you even start to think about buying a property to flip you need to research the market. What kind of house do people want to buy right now? Where are the best areas in the UK to invest in property?

        Once you have answered these questions only then will you be able to make an informed decision? Remember you want to sell this house as quickly as possible, especially if you plan to use the profit to re-invest.

        2. Finance options

        You must be able to understand the finance options available to you. Will you buy the property for cash or will you apply for a mortgage? If you are unsure then it is important to speak to the right people so that you are not making an ill-informed decision.

        3. Learn to negotiate

        Everyone wants to get a good deal and the cheaper you can buy your property for the more profit you will make, depending on how much you need to invest in it to get it ready to sell. Good negotiation strategies will help you effectively haggle with contractors and other workers.

        4. Learn how much project cost

        It is important to know how much renovation projects are going to cost. Do you know how much it will be to lay new carpet for example, or how much it will cost to rewrite the house?

        Every project is different but with experience, you will learn how to estimate what the average cost per project will be, and by over time, we mean as your property portfolio grows.

        5. Find a mentor

        One of the best ways to become a successful property investor is to find a mentor, someone who is already making a tidy profit from property investment and flipping. They will have the strategies you need to help you make the right decisions and money from your investments.

        6. Make an offer

        Once you find a property you like, you need to make an offer. If the property in question is selling for a low price you might have competition from other buyers.

        Once you get going property flipping is a full-time job so chances are other people will know about it as well when it comes onto the market. Most importantly before you make an offer, make sure you know the highest price you can pay for a house and still make a profit. 

        7. Find reliable contractors

        If you’re lucky enough to be good at DIY this is a way to save significant amounts of money. However, many people choose to leave renovation skills to the experts, especially for large projects so make sure you shop around and find a contractor with a good work history with some reliable testimonials. 

        If you want, you would like to learn more about flipping for profit we have a great strategy video for you here.

        You can also purchase all eight of our property investment strategies which include advanced property development, rent to rent and building a property portfolio no-money-down.

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        Five Tips to Start Investing in Property

        If you are looking to start investing in property and build a profitable portfolio then there are a few things to consider. Property investment can be very lucrative, and many people have gone on to make a profit. But if you take the wrong advice it could be the difference from making money or losing it all. Below are five tips to start investing in property.

        1. Buying in ‘up and coming’ areas

        Nothing creates increases in the value of a property than a surge in popularity of the area. Even in declining national markets, certain pockets of the country often buck the trend and continue to rise in value. Predicting where these hotspots maybe aren’t just about luck. Look for places where local infrastructure or transport links are being improved.

        2. Don’t run before you can walk

        It can be very easy to get ahead of yourself especially if you are looking to make that first investment. But it is so important not to run before you can walk. Listed buildings, complete rebuilds, and multi-home developments are all best left until you have some experience under your belt. Even then, it’s always a good idea to take your time and consult with experts before rushing in and finding yourself in over your head.

        3. Budget carefully

        Budget is going to be a big factor when it comes to property investment, you want to set a budget and try and stick to it where possible. Remember that your budget shouldn’t just account for the property itself but also the legal fees, utility bills, labour, materials, and any other unexpected costs.

        4. Maximise available space

        Once you’ve bought a property, you need to make sure you’re making the best use of all the available space to maximise your returns. If the family bathroom is larger than it needs to be, look at whether it could be made smaller and some of the space turned into an en-suite, or extra bedroom space, to increase the value of the home.

        5. Invest in training

        Another way to get your foot on the ladder is to sign up to a training scheme. This is a great way to learn from people who have already made money from property investing and can share their advice and tips on what to do and what not to do.

        If you would like to more about any of our property training days or memberships, you can get in touch with one of the sales team here.

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        Want to become a Property Millionaire Maker