Flipping for profit
In this video Phil shows you how to make money with flipping house in states. This example can be used in New Zealand property market but with a different lending options from banks. In New Zealand we don’t have hard money loans but a secured loan will work the same way.
The secret to flipping property is selling the property before your settlement date. Buy a property and ask for a long settlement date then try and sell the property before you need to settle.
The way you make money from this deal is you buy low and sell high, so make sure you have the best negotiation skills as the lower you get the property for the higher your profit will be.
Make sure you have your loans pre-approved for this type of investment as if you are not able to flip the property before the settlement date then you will have to buy the property. If this happens then its not the end of the world, you can renovate and sell or let it out on rent.
If you are still not sure about property flipping investment then you can have a look at other types of investment in NZ here >>
You can check out other ways of property investment in NZ here >>