Finance & Fury Podcast

Welcome to Finance & Fury’s Say What Wednesday Today’s question is from Lucas, “Hey guess, just wondering if you think that flipping houses is a good strategy? Can you really make a living flipping houses?” Good question! Flipping houses has become very popular but it’s not as easy as you think.   The Theory Find a ‘fixer up’ property at a low price Renovate it. Spend some money bringing it up to higher standard. There are people who run courses on this – you spend $1 and it should increase the value of the property by $1 Sell it for a profit – Like magic! Sounds good right?   Finding the property   It’s the same process for any property purchase (researching, etc): Research property Values, growth history, what work needs to be done on the property? Your situation Cap your price – Know how much you can afford Budget – do you have surplus cash in case renovations go over budget? Is it worth it? Look at potential gains – Minus costs in and out, along with interest, stamp duty, agent fees, lega