Long time reader canvassing forward looking views and general advice.
I've a small pot of savings and a out of work handy brother, as a result we've been thinking about teaming up to do buy a small project property, fix it up and flip it. I've a good understanding of the tax and financial side. He can do some of the aesthetic work but nothing structural.
Does anyone have any experience with this kind of project? My initial thinking is to start with a unmodernised property (initial cost £60k to £120k) in a on the up area, such as those identified in the Belfast Regeneration Plan, spend a little adding cheap square footage where possible, such as lofts, and generally modernise with a view to selling ASAP and repeating.
For me this project has the dual benefit of helping out my brother while hopefully generating some return.
Any views from members on viability of these kinds of projects in the current market, recommendations for areas or ways to approach, and any other wise words much appreciated!