UK Property Flipping: Is It Back?

Is flipping back? Are we able to buy something and flip it straightaway or within a reasonable timeframe maybe so, let's take a look

If you want to learn about property, if you want to learn how to do property the right way which is what I consider to be in an effortless fashion. So you get professionals doing the various things that you need and you focus on living the life that you want, the career or whatever. If you don’t have the time to go and do it yourself but you know you need to do it. Let's face it we all need to build a portfolio, we need to build a portfolio of properties in order to self fund our retirement and that is critical right now but not just self fund retirement it could also be to create the lifestyle that we want, pay for the kids education and all the things that we want to do with our lives and property can give that to you. So let’s go on a journey and I will teach you how to do all that effortlessly. Let’s talk about flipping because I read this one and I was like what the… this can’t be right. “Home flipping in the UK reaches 12 year high despite Covid crisis”. One in 40 homes bought were sold again in less than a year in Burnley it was one in 12. Flipping, they probably got them and did them up and did it that way. Not true flipping in the sense they are buying it and then flipping it before completion which is how we would normally use flipping. A lot of times people would fix it up, which this is a great time to be buying something and fixing it up and reselling it because the market is hot, there’s sales happening. Actually that’s not too much of a problem. I kinda agree with the article but 1 in 40 okay fair enough they have flipped within a year. Normally a flip we would consider as something when you don’t own it, you sell it without owning it. That’s a buy, renovate and then sell strategy. But anyway they are using the term flipping that’s fine. So it’s not true. And what I would say here is that don’t read an article like that without reading the actual property text and working out that actually it's not talking about buying something and flipping it straightaway. I think you would find that a lot of these ones they probably bought it here and sold it here because they added value in some form. 

UK Housing market expects 100,000 extra home sales in early 2021

There are a lot of people talking about the crash coming next year that we just delayed it to next year but you know what there is a lot of pent up demand, and there’s a lot of people out there looking and there’s a lot of people selling, a lot of people buying, it’s a great market now. It’s surreal talking about it like that, it’s almost like, really can I be saying that, but that’s a reality the fact that I’m talking about flipping you know it’s just like, scratch you head sort of territory. But that’s what happens when you dump so much equity or so much cash and currency, money supply into the world it has to find somewhere to invest, to get a return. And that’s what we are seeing. So yes you will probably see house prices will go up and inflation may kick in a bit but actually if anything it’s stopping us from the other end which is going into a deflationary cycle. The risk I think, the big risk for me is not necessarily deflation probably stagflation where effectively the economy is not growing but inflation is growing. We’ll see what happens there. I think the reality with this is 100,000 extra sales, I mean most of those sales are already in the bag. And I think that is one of the key things here, there is a massive backlog. We are looking to sell a few properties now so I spoke to my solicitor and he basically said he’s absolutely run off his feet, he chatted to me because we have a long term relationship but he said look I can’t take any more business. We’ve already taken too much, more than the firm could handle, not just him, the firm, the entire firm. Unfortunately that seems to be echoed across a number of different places. This whole stamp duty thing and potentially the stamp duty will be extended possibly for any sales that are made before hand. I think people may leave it to the last minute, may miss it out, maybe he extends it, I am not so sure he will. I have been saying it for a while. I don’t think they will extend the no stamp duty, I think what they will probably do is reintroduce it for certain segments like overseas buyers. And remember they’ve got another 2%  which isn’t law yet but they said they will do it. But a lot of that legislation, they’ve also said they will deal with the crisis and put it back. So we’ll see what happens there. Guys just remember any questions you’ve got chuck them into the comments and I am more than happy to answer them as we go through or leave them to the end. If there isn’t any questions, I want to thank you very much. As always make sure you click the like button, subscribe. If you have any questions put them into that email webinars@gladfish.com and I am happy to answer them back with videos or if they are more specific in nature by all means speak to the team and they can actually go through and explain and answer whatever can give you that clarity. I want to thank you again and we’ll see you next week. Until next week, have a great day and live with passion. See you later bye guys.