What is the average time taken to flip a property?

[nmb]

The idea of buying a property, making minimal changes and flipping for a significant profit is obviously very attractive. However, I would be interested to learn about the average time taken to flip a property so that I can estimate the risks associated with flipping.

 

[Caroline Allison]

Hi,
It sounds good. In my opinion, the average time taken to flip a property is 6 to12 weeks.
Thanks!!

 

[totallyproperty]

I would say 6 weeks is very optimistic... but that depends on whether you just need to do a light refurb or whether any structural / development work is required. In my experience, 95% of projects will overrun for one reason or another, so I would definitely over-estimate the time frames involved (which also ensures you don't over stretch yourself financially).

Better to be completed early, than finish much later than expected (especially if you were aiming to finish at a certain time of year).

 

[Lory1pips]

Hey everyone!

Im looking at a property that needs quite a bit of work to it. The property is assessed at 158k, on sale for 98k and I feel as though I could get it down to 90k. This property needs quite a bit of work to it. As a first time flipper, before I make an offer, how long should my remodel process take be before I put the house back on the market? Obviously the sooner the better but is there an average time frame I should be looking at?

 

[Longterminvestor]

I have researched this area and watched the "Flippers" on the TV. I think you need to look at each opportunity on its merits as they are all different. The main idea of flipping is to make as much money in the shortest time thereby minimising your finance costs - not neceesarily creating a top of the range property but something which suits the area and will sell QUICKLY. Sounds easy but.....

 

[Makram Hani]

Gents once again. There is no property investment suitable for a fast flip, you can call that a property gamble. You don’t need someone knowledgeable in Real estate to advise you on that, you would need a fortune teller. Your 5 years old son can give you as good an advise on this as anyone who is experienced and knowledgeable. If you wish to purchase property to profit short term do your purchase with the ability to hold it long term. Look at fundamentals when doing your choice. Property is an asset. All assets are value driven although moved by waves of sentiment. The key is to invest where this is VALUE. Never over invest, balance your portfolio frequently, be consistent with your choices, don’t move with bust and boom.