Successfully Sourced Flip PropertiesFlipping a property involves sourcing a great property that you can clearly add value to, usually through renovation. On the other hand of flip property investments, investors can purchase a property which is below market value and wait for the market to pick up. After adding value, likely via one of these options, you then sell the property on for a price that will earn you a profit.
Flipping a property is a huge financial commitment, and therefore, the process requires inventors to be knowledgeable throughout the process of their investment. It’s important that investors hold knowledge regarding the market, this aids them in making informed decisions upon selecting a property right for their portfolio.
Investing in a flip property brings an array of benefits to investors.
By choosing a flip strategy, investors are able to avoid becoming a landlord. This is beneficial as many investors are aiming to earn a side income, however, are limited with the time they can commit. Flip properties also bring investors the benefit of freedom as after completing a property under this style of investment they can actively decide when to invest in another at a time that suits them.
Flip investments are a favourite for many investors as they offer investment returns in a larger sum than other styles through gaining a lump sum profit rather than a monthly income.
Throughout our years in industry we have sourced a range of flip properties for our investors, some of which are outlined in our article.
GlasgowOne of our most recent flip properties sourced is located in the South Side of Glasgow, an incredibly attractive area of the city filled with restaurants and strong transport links.
This property was sourced as a one bedroom apartment, purchased at £125,750 with the opportunity to add incredible value. This property offered the possibility to convert part of the apartment into a bedroom, allowing the apartment to finish as a two bedroom property.
Blessed with a recess, our investor took advantage of the opportunity to convert the kitchen and utility into a master bedroom paired with an ensuite. Meanwhile, the recess was then converted into a kitchen space, creating an open plan kitchen, living room.
This renovation greatly increased the value of this property bringing our investor a profit of over £14K.
GlasgowThe next property we explore is a greatly spacious, three bedroom house located in the North of Glasgow.
This flip property was sourced for our investor and purchased at £85K. This flip is an project which is currently underway, bringing our investor great potential as it comes equipped with an additional ground floor bathroom and great space around the property.
After renovation, this property is estimated to finish on a done up value of £140K. This will allow our investor to earn a profit of approximately £18,000+.
GreenockLocated in Greenock, this property brought fantastic opportunity for a flip investment. Sourced at £45,000 our investor added value through a kitchen and bathroom renovation, modernising the property.
After renovation and a cosmetic uplift, the value of this property will approximate value of £80,000. This is set to bring our investor an estimated profit of almost £12K upon sale.
GreenockThe next flip we explore is also located in Greenock, this time a two bedroom apartment in Greenock Town Centre.
Purchased for £35K, this property brought an array of great selling points which were to be enhanced through renovation. By carrying out a renovation, adding a new kitchen and bathroom, paired with a cosmetic uplift throughout the remainder of the property, our investor gained an estimated £60K, earning over £10,000 profit after costs.
HamiltonOverlooking the Firth of the Clyde, this property is located in an area within Hamilton in which properties rarely go on market, making it a great opportunity for our investor.
This property is a fantastically spacious two bedroom house which presents our investor with great opportunities. With the space offered by the bottom floor of the house, our investor has the potential to perform a conversion, adding an additional bathroom.
Through renovating this property and adding great value our investor can gain over £17K after sale and costs.
ConclusionFlip investments offer investors great opportunities to potentially maximise returns in a short period of time, whilst greatly diversifying their property portfolio.
There are many benefits attached to utilising a flip strategy should an investor choose the right property for their objectives. Flip investments offer investors the potential to earn a quick return for their investment, while additionally allowing them freedom as their time commitment is substantially lower than those investing to be landlords.
Key knowledge and understanding of markets and often experience can be greatly beneficial as investors embark on their flip project. By working with a property sourcer, investors can take advantage of the in-depth knowledge they offer and utilise their experience.
Disclaimer: This is information based on our knowledge gained throughout years of experience, education and learnings. This information is open to interpretation, therefore, you must carry out your own due diligence regarding the subject.