All Topics / Help Needed! / MENTOR WANTED – Flipping

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  • Profile photo of JadeJade
    Participant
    @jadekh
    Join Date: 2017
    Post Count: 5

    Hi,

    Thanks for looking at my thread.

    I’v just begin my property investment education and am looking for mentors who would be willing to mentor me on property investment. Initially I would like to begin with flipping and then moving on to buy and hold. Any mentoring would be much appreciated.

    Thanks

    • This topic was modified 3 years, 6 months ago by Profile photo of Jade Jade.
    Profile photo of Tony FlemingTony Fleming
    Participant
    @the-dark-knight
    Join Date: 2008
    Post Count: 396

    Hi Jade,

    Flipping at the moment can be very risky. Did you want to start with flipping to get enough deposits for your buy and hold properties? Most investors start with buy and hold then move to flipping as their borrowing power dries up.

    I’d personally just look at buying undervalued properties with renovation potential. Try and draw out equity and move onto the second and then third etc.

    Plenty of people out there that could help mentor you. Sites like these are great for information and inspiration. Head to the local library and get as many books as you can.

    Best of luck!

    Tony Fleming | Triumphant Property Group
    http://www.triumphantpropertygroup.com.au
    Email Me | Phone Me

    NSW Buyer's Agent specialising in Western Sydney-Blue Mountains-Orange-Albury

    Profile photo of Corey BattCorey Batt
    Participant
    @cjaysa
    Join Date: 2012
    Post Count: 1,010

    Tony has hit the nail on the head – flipping in Australia is seldom profitable, and is a step backwards from a renovation-revaluation strategy which allows you to grow your net worth quicker without losing a significant amount of profit each time to fees, taxes etc. I’ve written about this previously here: http://www.precisionfunding.com.au/11366/

    Corey Batt | Precision Funding
    http://www.precisionfunding.com.au
    Email Me | Phone Me

    Investment Focused Finance Strategist - servicing Australia-wide

    Profile photo of JadeJade
    Participant
    @jadekh
    Join Date: 2017
    Post Count: 5

    Thanks Tony for your feed back. Yes, I was looking to do some flips to get some capital under my belt. That and its just personally appeals to me. Could you explain what you feel the risks are with flipping at the moment.

    Thanks Corey, Ill check out the link. Is is not profitable because their isn’t enough margin in the Australian marker for flipping?

    You guys are awesome. Thanks

Viewing 4 posts - 1 through 4 (of 4 total)

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