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Advice on renovation houses?

B

Briniuk

New Member
I am trying to learn all the aspects of buying renovating and selling on auction or medium level refurbs.

I have about 25k spare and want to make a business from flipping but I’d like to have advice on strategies and things like bridging loans etc but who can help?
 
L

Longterminvestor

Administrator
Hi @Briniuk

First of all welcome to the forum - I am sure you will receive plenty of help and guidance.

What kind of properties are you looking at? Are you able to do the renovations yourself?

The owner of this forum has a mentor program which might interest you. Are you there @Nicholas Wallwork ?
 
B

Briniuk

New Member
I can do more manual labour painting etc but have some contacts for further work.
It would be 2/3 bed houses to sell only
 
L

Longterminvestor

Administrator
Interesting, if you are able to chip in with the diy and also have good contacts then flipping and the auction route sounds interesting. However, please please make sure that you visit the property, read the literature and make sure you carry out all of the basic checks. Assume nothing when it comes to auction properties!
 
B

Briniuk

New Member
The auction site I am looking at has a fee of 6k is that normal ?
Who’s the best person or business to learn things like cg tax etc etc?
 
Nicholas Wallwork

Nicholas Wallwork

Editor-in-Chief
Staff member
Premium Member
The auction site I am looking at has a fee of 6k is that normal ?
Who’s the best person or business to learn things like cg tax etc etc?
£6k seems high but it depends on what that includes and the price of the property you’re buying through them? If it’s a £5m property then it’s not high...

I can help with a lot of business related questions what specific questions do you have? Maybe start a thread on each of the main questions you have and we can try to help?

For tax advice then I can refer you to a suitable firm if you like? Just DM me...

Thanks
Nicholas






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