In this video I teach you how to make money with Property Flipping, or using a longer term buy and hold strategy. I set out the step by step costs involved in a REAL example and how to implement a House Hacking Strategy.
Firstly, we need to find a property in need of refurbishment, these are typically properties that haven't been renovated recently and still have the pink/red carpet and green/blue bathrooms.
We then need to factor in other costs such as loan fees, loan interest, stamp duty, legal fees, insurance, council tax, early repayment charges, refurb costs, sale costs, capital paydown, tax etc.
Refurb costs can involve refurbishing the kitchen, bathroom, appliances, labour, paint, flooring, building/plumbing/wiring works, tiling, etc.
We then need to compare total costs to the sale price to calculate the profit generated and the ROI.
Using the House Hacking strategy, if you live in the property as your main home, in the UK you can take advantage of the PPR (Principle Property Relief) and pay £0 tax.
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The information in these videos shall not be construed as tax, legal, insurance, construction, engineering, health and safety, electrical or financial advice. IF stocks or companies are mentioned, Thomas MAY have an ownership interest in them -- DO NOT make buying or selling decisions based on Thomas' videos. If you need such advice, please contact a qualified accountant, solicitor, insurance agent, contractor/electrician/engineer/etc. or financial advisor.
This is not an advertisement of property for sale and shall not be construed as anything other than an opinion for entertainment purposes only.
#RealEstate #PropertyFlipping #Fix&Flip
Firstly, we need to find a property in need of refurbishment, these are typically properties that haven't been renovated recently and still have the pink/red carpet and green/blue bathrooms.
We then need to factor in other costs such as loan fees, loan interest, stamp duty, legal fees, insurance, council tax, early repayment charges, refurb costs, sale costs, capital paydown, tax etc.
Refurb costs can involve refurbishing the kitchen, bathroom, appliances, labour, paint, flooring, building/plumbing/wiring works, tiling, etc.
We then need to compare total costs to the sale price to calculate the profit generated and the ROI.
Using the House Hacking strategy, if you live in the property as your main home, in the UK you can take advantage of the PPR (Principle Property Relief) and pay £0 tax.
Social media
Instagram - ThomasJamesYT - https://instagram.com/thomasjamesyt
TikTok - ThomasJamesYT - https://tiktok.com/ @thomasjamesyt
Subscribe for more property related content - https://youtube.com/channel/UCRTndpz_fpcVcoVe0QF1IgA
The information in these videos shall not be construed as tax, legal, insurance, construction, engineering, health and safety, electrical or financial advice. IF stocks or companies are mentioned, Thomas MAY have an ownership interest in them -- DO NOT make buying or selling decisions based on Thomas' videos. If you need such advice, please contact a qualified accountant, solicitor, insurance agent, contractor/electrician/engineer/etc. or financial advisor.
This is not an advertisement of property for sale and shall not be construed as anything other than an opinion for entertainment purposes only.
#RealEstate #PropertyFlipping #Fix&Flip
Brilliant commentary Thomas James truly appreciate everything you’re doing . I hadn’t seen you until now !
… so I’ve been watching a few of your previous videos ❣️! thank you and keep up the excellent sharing of pertinent information. 🤙🏽
Wow
I'm super excited, I received 15,000 $ from Vividlogs com, they save me from my financials struggles
Thanks for the video! Are there obstacles to flipping a property if its being sold less then 6 months since it was purchased by the developer? I understand most lenders will not lend on a property that is being sold by a seller who has owned it for under 6 months
Good day
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Great video Thomas 👍
Honestly, at first I was scared to buy a condominium. Now I have 5 condos. I have 2 rfo in Pasay and 3 preselling in Mandaluyong and QC. The reason? I am scared to get old without an investment and income.
Hi Thomas! Great content and keep up the excellent work, please!
Would you please tell me what type of mortgage you take into account that needs only 10% downpayment?
Many thanks!
Do you get your deposit (10%) back when you flip a house to sell if you bought it via mortgage?
Let me know what you think of this example and if there’s anything you’d do differently