Expat Property Story
A podcast for expats investing in UK property
Expat Property Story
Should Your First UK Property Investment Be a Flip?
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Justin Wilkins of Property X has a YouTube channel with over 250 videos largely aimed at those making their first moves in UK property.
One of them goes by the title of: Best Property Strategy to Start as a Beginner.
That strategy is flipping.
A flip is when you buy a property, renovate it to increase its value, and then resell it for a profit as quickly as possible.
In this episode, I play deveil’s advocate to Justin!
We discuss:
- Why Justin recommends Flipping for New Property Investors
- Risks Associated with Flipping vs. Buy-to-Let
- The Value of Hands-On Experience
- Dealing with Rising Renovation Costs
- Increased Competition in Property Acquisition
- The Importance of Volume in Deal Flow
- Managing Project Timelines and Profitability
- Flexibility in Exit Strategies
- Distinguishing 'Fast Pounds vs. Slow Pounds'
- The Need for Balance Between Action and Analysis
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