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This is a buy to sell strategy and is a good way to build up your capital to reinvest. Your strategy here is to buy a property with the sole intention of selling it on again to make a profit. You need to buy the property at the right price initially. Robert Kiyosaki (Rich Dad Poor Dad) says that you make money in property when you buy not when you sell. So make sure that you find a BMV (below market value) property.

Timing is also very important, think about seasonality – when you buy and when you sell. Are these going to be the best times for buying and selling? There’s no point in renovating the property only to see it sit on the market for a long time, this is really demoralising and costly!

If you plan correctly and have the money to invest in refurbishing, it’s a great way to make a large amount of capital in one go. This is harder to do in the market that we’re in currently but still absolutely possible. Calculate your figures on the pessimistic side, allow for a lot of contingency.

Make sure you do your financial research; can you get a mortgage; do you have enough money to cover the mortgage payments; can you buy furniture if you are going to dress the property?

If you plan correctly and have the money to invest in refurbishing, it’s a great way to make a large amount of capital in one go. This is harder to do in the market that we’re in currently but still absolutely possible. Calculate your figures on the pessimistic side, allow for a lot of contingency.

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