Manage episode 242433448 series 12133
It’s the penultimate episode of Strategy September and this week Rob & Rob are covering flips.
Now flipping is probably the most glamorous property strategy there is. There are dozens of TV shows you can watch and it’s a good way to make a decent profit quickly.
However, there are a number of risks involved that you should consider and The Robs are going to cover them in today’s episode along with:
- How much capital will you need?
- What are your finance options?
- Where do you want to be looking?
- How do you do your numbers?
- How do you work out your refurb cost?
- What other expenses do you need to allow for?
- How do you know what you’re going to sell for?
So before you rush into flipping properties, thinking it’s as easy as it looks on Homes Under the Hammer, you might want to give this episode a listen first.
And, after you’ve given it a listen, make sure you go and take our free course over on Property Hub University and really test out your knowledge on flipping properties.
And in the news this week, we’ve got (another) negative headline. Apparently property investors make on average just £2,000 net return each year after ‘hidden costs’ are taken out. Now considering an average property is £183,000, that kind of profit seems hardly worth it.
So we might as well all give up and pack it in.
Or should we?
Luckily, in the article they’ve listed these different hidden fees so we can see where they’ve got their figures from. We’re not quite sure where they’ve plucked them from, especially on an average priced property, but nevertheless, we think you’re pretty safe for the time being.
And to give you that extra bit of value, this week’s Hub Extra is another fitness site called Nano Workout. Now this might seem like a bit of a prank because when you think about it, it is actually quite funny. But this site has come up with different exercises that you can incorporate into your everyday life.
So there’s things you can be doing while you’re sitting at traffic lights, sat at your desk, and even ones you can do whilst you’re sat on the couch watching TV. If this sounds like something that could help you get into fitness, let us know what you think of it.
We’d love to hear what you think of this week’s Property Podcast over on Facebook, Twitter or Instagram. You might even have a topic you’d like us to cover in the future - if so, pop us a message on social and we’ll see what we can do.
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If that wasn’t enough, you can also join our friendly property community on the Property Hub forum.