It’s all the rage, to Flip or Flop. So can watching too many renovation shows give you a skewed perspective on flipping homes?
You can be forgiven for thinking that it takes a weekend to renovate an entire house. I love renovation shows because I’m an interiors addict and architectural buff who takes a keen interest in how home projects come together. Maybe you do to. And maybe you, like me, knows there’s more to profiting from renovating a home to ‘flip’ than waving a paint brush around and choosing cool floor tiles.
So when it comes to Flip or Flop, who are the professionals we should see FIRST before we start choosing bathroom accessories? If you’re inspired by gorgeous design and want to get stuck into your own Flip or Flop project, then you need to listen to this interview.
If you are seriously considering a small property development project, want to sub-divide or build twin townhouses where a crappy old house used to be, then you need to listen to this interview.
If you are about to retire and think flipping or property development is a good way to bump up your income, then you need to listen to this interview.
Need Some Property Inspiration?
The True Picture of a Flip or Flop
To better understand how a Flip can easily become a Flop, I asked two experts about two different but very complimentary aspects of property development. Nick Corbett is an Accountant with First Choice Accounting and Joe Tirimacco is a Mortgage Broker with SA Loan Options.
These two experts, and the industries they represent, should be your first port of call BEFORE you buy a property. Why? Because your Mortgage Broker and your Accountant should work closely together to ensure the best result for YOU. Their skills are different so collaboratively they can help guide you to a successful outcome specific to your circumstances.
As you’ll hear in the interview, an Accountant can help you with business structures, tax, capital gains and deductibles whereas a Mortgage Broker can help you with gaining finance, repayments, settlement and contracts.
You’ll gain general knowledge about Australian property conditions (please see your own professional for information specific to your circumstances) and tips on what to buy, how to buy, best conditions for flipping, property development alternatives, budgeting, and when to walk away. PLUS, Joe has been a flipper so his ‘inside knowledge’ is invaluable and why developing may be a better option than flipping.
And if you think this is all very dry, then you haven’t been exposed to Nick and Joe – we actually had a few laughs too.
Contact Nick or Joe
If you are looking for an Adelaide Mortgage Broker or Adelaide Accountant, then these are the guys you need to be having a chat with – and Joe’s open invitation to have a coffee still stands – 242 Glen Osmond Road, Fullarton SA 5063.
Nick Corbett – First Choice Accounting – firstname.lastname@example.org / +618 7221 3333
Joe Tirimacco – SA Loan Options – email@example.com / 0414 555 792
DISCLAIMER: The information discussed here is of a general nature and not designed to take the place of speaking to YOUR Mortgage Broker or Accountant,