Q&A: Do-up and flick or keep as rental?

Hi Olly
I’m a builder living in Dunedin and I am looking to get into the property market and my question is is it better to do up houses and sell them on or keep them and rent them out?

Phil

Dear Phil

As a builder you have a huge advantage to start with and yes, doing up houses for fun and profit is one of the best ways to go in the current market.
However you (and any one else) who wants to follow this road to wealth must approach the subject carefully and in a business like manner.
The biggest error made by “ doer uppers” is to spend too much money and time on any one project and end up going backwards.
I have found that one month to get in and to get out should be the target to aim for with the average house.
Regards

Olly

Posted in Q&A | Tagged | Leave a reply

Leave a Reply

Your email address will not be published. Required fields are marked *

*

You may use these HTML tags and attributes: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <strike> <strong>