Greetings from a Brisbane newbee

I have been in the building industry all of my working life. I am now looking at 'Flipping Houses' in Brisbane possibly Toowoomba.

I am also looking at buy & hold strategy on property's' with 'Granny flats' for the rent return.
I am looking for any advise on these subjects as this is my 1st time doing this.

 

Hi Darren,

Welcome to the forums

Flipping is great in the right market (ie, a hot one) but you may find that the transaction costs outweigh the benefit in many cases - CGT, selling costs and stamp duty to purchase the next one can mean there's very little left at the end.

With your skill set, maybe consider looking at properties you can reno,split, build and hold - run the numbers and see what stacks up best.

 

Hi Darren

Great to see another Brisbanite on here to balance out the mexicans.

Toowoomba seems very busy for us at present and Brisbane hasn't dropped either. I think timing for Brisbane is better now because we have less mexicans going in on a house cash unconditional.

D

 

Does anybody know of others that are successfully flipping properties? Maybe they are keeping costs at bay by using a company rather than a private person?