Everyone loves the idea of ‘flipping’ a property, and it is something that most of us have either dreamt about, or still plan to do. But don’t keep dreaming this year, turn your dream into a reality!
It is a huge commitment, knowing where to start by sourcing the development property and getting reliable tradesmen, etc, etc. At Murray Property Holdings we have a team ready with the experience and knowledge to get you started. Whether you are considering an asset and income backed investment, a joint venture or as part of our ‘Earn As You Learn’ Scheme.
Secure A Property
Let us help you secure a property that we can easily add value to. We are experienced in property purchase negotiations and can obtain properties at below average market value, ensuring that the property selected has scope to add as much value as possible.
Our team’s collective experience always factors in a backup financial plan in the event that something needs a bit of extra work during the renovation process. Getting a ‘great’ deal these days is becoming harder, but when you have knowledge and experience of the potential pitfalls of property development the whole process just becomes easier.
Remember there is more competition to obtain a property that is on the market to flip, and we take into consideration the fact that construction materials have increased considerably over the last few years, when we predict our budget for the project.
Adding Value
Our team knows all about ‘adding value’ to the development property. They know what will add £’s to your end valuation. You should try to understand who your target market is.
We keep up with trends such as post-covid a lot of families favoured open plan living. We also know how to utilise ‘space’ in the best possible way, whether it is dividing rooms, or adding an en-suite. Adding a new kitchen is one of the most popular refurbishments choices, closely followed by a new bathroom, according to statistics.
Remember the GOAL is to buy low and sell high! Budget and research are key.
I Feel At Home
The first thing the purchaser wants to feel when they walk into your redeveloped property is at home. Make sure you set the stage perfectly which will set you on a good footing when it comes to marketing the property. People will pay for a high quality remodel of a home that they can see themselves living in.
The Statistics You Have Been Waiting For
Numbers are always good to reassure you that the decisions you make when it comes to property are the correct ones.
As you can see year on year, the trend of ‘flipping’ in Scotland and the UK is increasing. Last year (2023) there were further increases in the number of flips carried out.
Glasgow continues to be one of the best places to flip a house in the UK, ranking at number 7 out of 10 in the year 2021-2022.
‘Over 62% of the property flipped in the UK (during 2020-2022) made £10k-£75k profit’
Quote by ‘Finbri’
Further statistics from Finbri advised that only 1% of property flippers made a loss during this period.
Get Started Today
If you would like to get started, get a flipping move on……contact the team
info@murraypropertyholdings.co.uk
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