Buy,Sell,Property,Are,flip,sal business, insurance Buy to Sell Property - Are flip sales still possible and if
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To flip a property you buy then re-sell almost instantly.There are several different varieties of Flips in the Buy to Sell market.However for ease of use, lets talk about Flipping New Build property with a discount.The three most important factors to consider in Buying to Sell are the Location, The Market you will sell to and the Price.Maybe the most important factor to look at is, are there still genuine discounts around?If you walk into a showroom for a developer and manage to knock 15%off of the list price, what makes you so sure that you could then sellon at a 15% profit? After all, if the developer does that particulardeal for you, could you prospective purchaser not simply walk into thatsame showroom and get that same deal?Say you buy the last plot on that development, ok now your not incompetition with the developer but you are with every other developmentin the area and anyone else that has the same idea as you!A similar Buy to Sellinvestor could have purchased 10 of the same apartments the monthbefore and got a 20% discount; he could sell at 5% below you and stillmake a 15% profit!As you can see Buy to Sell does not seem to be the simplest way of making money!So how do you purchase a Buy to Sell property bmv (below market value)? Why would the developer sell for that?Well youre definitely in a better position if you Already have finance arrangedAre a cash buyerCan buy multiple units.If you are in any of these positions then you are in with a shout.Either because units the developer has pre sold have fallen through andyou can complete quickly or because the developer needs to sellmultiple units in a hurry!If you are fortunate enough to be in one of these positions then wecan go back to what constitutes a good deal, the location, the marketand the price are all important.Firstly the Location, most important is that the average £/persq.ft. for comparables in the area is noticeably under what you arepaying, also important is to speak to agents in the area and ask howquickly the comparable property is selling.Secondly is the target market, this is simply buying property in an area that lends itself to that particular demographic.If the area is full of students, buying a brand new 4 bed townhouse isprobably not the best idea; the market is simply not there for it.Lastly the price, we have touched on this earlier and in the last 2 points, this really is all important.Due diligence is a must, speak to agents in the area and look out forhow quickly the developer agrees to the discount, if you offer 15%under and he virtually bites your hand off this should ring alarmbells. Look at when developers year ends are, contact them about 1-2months before, this will be when they start to do deals.If the comparables show the discounted price is decent, the Buy to Sellmarket is not saturated and the developer has not sold half of hisquota at that discount then its definitely worth considering!In conclusion, the Buy to Sell market here is probably the hardestit has been in 15 years and it is definitely a lot more difficult topick up flip sales, however this kind of market always brings to thetop some developers that panic sell, they have a couple of quiet weeksand suddenly worry about their quarterly quotas, for the more switchedon investor bargains are still to be had.
Buy,Sell,Property,Are,flip,sal