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  1. #1
    I'm brand new to the property industry concentrating on buy to sell refurbishment projects. I've just completed my first project in the Preston area successfully with a healthy profit.

    My question is where other than right move and traditional estate agents do people source property's? I'm a cash buyer in the 80k range before refurbishment costs

    My second question is what is the average margins are developers seeing in terms of nett profit % .


  2. #2

    Sourcing Property & Profit Margins

    hi im close to the preston area out of interest which area did you invest in and are you happy to share numbers for your first successful bts project and to answer your question a 20% profit margin is what you should be looking for and dtv approaches, auctions, word of mouth, are some ways to find deals before anyone else.

  3. #3
    Morning Ross,

    Welcome to the Hub and congrats on your first flip profit! There are a number of ways to find properties, some are just more difficult than others. The methods that I look out for are:

    * Rightmove
    * Zoopla - yes there are some on here that are not listed on Rightmove!
    * Auction lots - use www.eigpropertyauctions.co.uk, this list all auctions. You can search for free, but pay a fee if you want to use the service. If you find a property on here you can easily find it online by simply searching on google
    * Gumtree - Some people will list here as it is free and not use the major portals
    * Direct to Vendor - Hard work but can be rewarding. You need to spend a lot of time hunting and writing letters! I have a journal here: Direct to vendor.

    I find having alerts set u on Rightmove a very useful tool. You will always find that there is nothing of interest when you have cash available, but the moment you don't the market is full of opportunities!!!


  4. #4
    Hi Junad

    I made 25% nett profit on a 2 bed terraced in Higher Walton. Thanks for your input. I'm networking with local estate agent and solicitors to hopefully find something of interest for my next project.

    I'm still working 3 days a week in sales to help the new business get moving faster without taking any profit out of the cash flow

    I'm not confident enough at this stage to use finance so doing one at a time with cash




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