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/biz/ - Business & Finance

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51223391 No.51223391 [Reply] [Original]

I'm very interested in getting started in real estate investment - specifically contract flipping and micro flipping. If that goes well, then full on house flipping.

I am in the UK and the housing market isn't the best right now but nonetheless I think I have a shot at this. I understand the basics but need help on understanding:

>how to write out a contract and what key points to negotiate

>finding a mentor if necessary

>great software (UK) for finding houses, sorting data, finding end buyers, etc.

I don't have much capital so the only potential barrier I may come to is an earnest down payment, but I imagine I can source that out to the end buyer or if I have to a private lender or something. Thats for flipping contracts, micro flipping I could use transactional funding easy enough I think. Good news is I don't need much capital to get into this line of work.

I'm fed up of using my time for what I see as little gain (sole trader in forestry) so I want to make real money. This has caught my interest and to a lesser extent dropshipping but that's not relevant.

Any tips, contract formats (picrel) and so on from experienced and successful flippers, let me know please.

>> No.51223401
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51223401

>>51223391
Second part

>> No.51223692

>how to write out a contract
This is not how it works, you see a solicitor or conveyancer and they draft the contract. You think buyers are going to want to proceed with the biggest purchase of their life with some contract you wrote yourself?
>finding a mentor
Just be yourself
>great software
...

If you think you are just going to be able to buy a house and find some other buyer to take the contract from you before the property settles and this is going to be easy you are not thinking rationally.

Contracts for sale of property are binding contracts that you cannot easily pass off, you will likely be bound to whatever house you buy and will be stuck with the property.

Leave contract flipping to real estate agents who know what they are doing