Flip Workshop Replay · Make Money In UK Property

Flip Workshop Replay

Good afternoon Gang, Newbie here! Just watched the flip workshop replay earlier on this week, here are my takeaways.......

The devil is in the detail, A good deal sourcer will go a lot more in depth before presenting TRUE net profit. Displaying legal fees (Acquisition and selling) holding fees which on average last around 6 months and line by line refurb costs.
Contracts with deal sources and builders alike need to be water tight so we protect ourselves from handing over heavy amounts of cash with the risk of the receivers disappearing.
Being hands on can help reduce costs when refurbishing such as, ripping out old kitchens/bathrooms, painting etc
The A.I deal Calculator is the best in the business when it comes to generating realistic net profit after inputting all costs.
Most investors initially request deal sourcers to find properties with a 20% ROI but there is a good chance they would be happy with anything north of 15%
If you do venture into deal sourcing, keeping your investor updated step by step is considered best practice.
Anyone can go on Rightmove / Zoopla and find properties below market value and bombard investors with their findings without putting the true work into find something which works on all fronts.
The A.I deal calculator gives us a good indicator of what individual refurb costs would be. Rule of thumb - further down south = higher the price, further up north = the lower the price.
A good deal sourcer will offer various net profit scenarios when taking all costs in consideration. Best case, middle of the Road and cost effective.
A good deal sourcer will also offer a plan B reg an exit plan.
If you dont cut corners you can make 6 figures a year with repeat business from just 4/5 investors
Paul Managed to find a property which had a fish tank inside of the kitchen units. I challenge you to find another!.