At its core level, flipping is about buying a property cheap and selling it on for a profit. A typical BTL will only yield you a small percentage of income each month whereas flipping a property will land you a large sum of cash when you sell it on. Now you have a chunk of cash, you can use that to finance your Buy-to-let properties to also create a monthly income from property.

Learn how to find vendors that are motivated to sell quickly and where securing the highest possible price for their property isn’t their number one concern. It may be the speed of the sale or simply getting rid of the property as quickly as possible because its empty. It’s with these type of vendors that a good deal can be done.

KEY TAKEAWAYS

• You can increase your chance of securing a good flip by going directly to the vendor. It makes sense for us as investors to target the owner-occupier market. To these deals, you can employ guerrilla marketing and leaflet dropping in your area.
• The best way of doing a flip and adding value is to do up the property. You can find these simply by going into your local estate agents and building a rapport with your local agent.
  
  

Securing properties that are suitable for a flip doesn’t just revolve around the price of the property. There are many vendors that value moving quickly over getting the best price for their property. Empty properties are also a great type of property to secure as the vendor will be incurring costs all the time that it's on the market and sat there empty.

The problem with finding properties on Rightmove is that you don’t get the whole picture. In fact, you only see the best pictures. It may be that a property with nice photos will still be the right property for a refurb and then a flip. You need to speak to vendors and estate agents face to face.

BEST MOMENTS

“The term flip is an American word, it’s about flipping a property on and moving it on as quickly as you can so that it can be sold on for a profit.”

“BMV - Below Market Value”

“Rightmove doesn't tell you the motivation of the seller”

“A lot of investors will flip properties and target homebuyers or owner occupiers”

VALUABLE RESOURCES

Join the Progressive Property Community here:

http://www.thepropertyteacher.co.uk/

https://omny.fm/shows/progressive-property-podcast/80-interview-with-property-investors-tasha-darring?in_playlist=progressive-property-podcast!podcast

ABOUT THE HOST
Peter Jones is a Chartered Surveyor, an author and a serial buy-to-let property investor. He has been involved in property for over 35 years and now owns 78 letting units. He is still actively involved in buying and renovating property, and regularly flips properties for profit. Peter has written a number of successful property books. The first, An Insider’s Guide to Successful Property Investing, was first published in 2000 and was

one, if not the very first, book of its kind which was written for what we’d now call buy-to-let investors. On the back of its success, he was invited to be a guest writer for Property Secrets and wrote Spanish Property Secrets, French Property Secrets, and Portugal Property Secrets. He has since written a number of other successful titles dealing with UK investing including 63 Common Defects in Investment Property and How to Spot Them, the highly acclaimed The Successful Property Investors Strategy Workshop and The Property Renovator’s Workshop ,in which Peter describes step-by-step how he built his own property portfolio, starting with virtually none of his own money.

CONTACT METHOD

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