The Basics Of Flipping
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Flips are good for cashflow and a great strategy, and in this episode, Shaz explains what you need to have in place and how you can get started
\\nFrom knowing your numbers to negotiating the right deals all the way through a project, Shaz shares valuable tips and advice about how to get started and succeed if you want to use flipping as either a supplementary or primary property strategy
\\nKEY TAKEAWAYS
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- Flips are usually funded with bridging loans \\n
- If the project takes longer the costs can increase, it\\u2019s important to get things completed within the allocated time frame \\n
- Be clear about the numbers, the costs, what the margins are and what the \\n
profit is expected to be
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- Negotiating is a key part, you need to negotiate the right deals throughout the project \\n
- Build in a contingency for each project \\xa0and be clear about what you are trying to achieve with each deal \\n
- Research and know the area you are focusing on \\n
- If you buy well and sell well it\\u2019s a great strategy \\n
- Set a timeline and focus on keeping everything tight \\n
BEST MOMENTS
\\nYou need to have a vision and an eye for details
\\nIt\\u2019s a good supplementary or main strategy to have
\\nYou need to buy right, below market value to make it work
\\nVALUABLE RESOURCES
\\n\\nABOUT THE HOST
\\nShaz Nawaz is a serial entrepreneur; he owns five thriving businesses in diverse sectors.
\\nShaz is committed to helping business owners build successful businesses. Having conducted over 3,000 business growth consultation he has helped his clients generate millions in additional profits. His purpose is to inspire business owners to build businesses that are hugely profitable and sustainable.
\\nHe is a huge advocate of having multiple streams of income. He has written a number of business books and regularly contributes articles to mainstream media outlets.
\\nYou can find Shaz on:
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This show was brought to you by Progressive Media
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