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Bubble & Squeak

Flipping Fantastic!

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i thought i'd start a thread to track how flips are working out in the current market.

here is one in walthamstow:

bought for £267,500 in the first quarter

http://www.rightmove.co.uk/house-prices/detailMatching.html?prop=41651158&sale=51008132&country=england

looks like they've spent a good wedge getting it up to scratch for a bubble asking price of £500k

http://www.rightmove.co.uk/property-for-sale/property-32665182.html

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interesting.

can't work out how do run a fraud on it with that timescale. Could be ML, but a very amateur one.

Aha! Could be an artificial tax loss by selling to a company owned by oneself through offshore structures?

Send the link onto HMRC anyway......

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i thought i'd start a thread to track how flips are working out in the current market.

here is one in walthamstow:

bought for £267,500 in the first quarter

http://www.rightmove.co.uk/house-prices/detailMatching.html?prop=41651158&sale=51008132&country=england

looks like they've spent a good wedge getting it up to scratch for a bubble asking price of £500k

http://www.rightmove.co.uk/property-for-sale/property-32665182.html

I prefer the pre-makeover crack den look.

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just had a little look at sales volumes in walthamstow.

the average for 2014 has been well over 100 a months but october was a measly 35.

looks like the walthamstow flippers velvet goldmine has turned into an albatross.

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Don't think there are too many amateur flippers these days - the entrance level is now very high. I hear stories of it still being profitable in London and a few hot spots but nothing like the activity there was 8 -10 years ago. Most profit is made on the market rising not the improvements made (unless extreme).

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Some cynical EA types on the foxton share price seem to doubt my claim that some people are trying to sell at 100% profit in 18 months.

http://www.lse.co.uk/SharePrice.asp?shareprice=FOXT

anyone got any examples ?

http://www.rightmove.co.uk/property-for-sale/property-46669894.html

This was bought at auction for £173K eighteeen months ago. Current asking after refurb and extra bedroom added is £350K

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North of Bristol there was a little flurry of activity in Spring. One brave investor is trying to make £50k for not much work....provided it sells of course...

On the market since late July for £475K, brought in January for £425K

http://www.rightmove.co.uk/property-for-sale/property-47286353.html

http://www.rightmove.co.uk/house-prices/detailMatching.html?prop=43140575&sale=50759306&country=england

Squeeze

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North of Bristol there was a little flurry of activity in Spring. One brave investor is trying to make £50k for not much work....provided it sells of course...

On the market since late July for £475K, brought in January for £425K

http://www.rightmove.co.uk/property-for-sale/property-47286353.html

http://www.rightmove.co.uk/house-prices/detailMatching.html?prop=43140575&sale=50759306&country=england

Squeeze

Doesn't look like they've done anything! Could be a marriage break up, but either way to put it up for 50k more than you paid 6month earlier, crazy.

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i thought i'd start a thread to track how flips are working out in the current market.

here is one in walthamstow:

bought for £267,500 in the first quarter

http://www.rightmove.co.uk/house-prices/detailMatching.html?prop=41651158&sale=51008132&country=england

looks like they've spent a good wedge getting it up to scratch for a bubble asking price of £500k

http://www.rightmove.co.uk/property-for-sale/property-32665182.html

nine months on, coming up to three months on the market

when will this flipper break?

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they very nearly pulled it off:

http://www.rightmove.co.uk/house-prices/detailMatching.html?prop=31922922&sale=50537504&country=england

http://www.rightmove.co.uk/property-for-sale/property-47688704.html

my guess is that this is a case of saved by the bank rather than the buyer having a moment of clarity

when do we think the first price cut will be?

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