ASK235: What’s the difference between a refurb and a flip? PLUS: What discount should I get when buying a property to flip?

The Property Podcast

Rob Bence & Rob Dix

News, Investing, Education, Business, Business News

4.8 • 2K Ratings

🗓️ 12 May 2020

⏱️ 6 minutes

🔗️ Recording | iTunes | RSS

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Summary

This week on Ask Rob & Rob, the guys are clearing up some definitions on the difference between refurbs and flips, as well as below market value deals. Our first caller Sam has a nice and easy question for us this week. He wants to know exactly what the difference is between a refurb and a flip. It might seem like an obvious answer but there is a distinct difference, and one that most people will just assume they know the answer to. So Rob B is taking it back to basics and clearing things up for Sam. The second question comes from James, and funnily enough he’s interested in a flipping strategy. He’s a surveyor himself and has been wondering at what point below market value, percentage wise, would Rob & Rob consider a biting point? Rob D offers some pretty good calculations to help you work this one out so tune in to find out if a below market value property is really worth it. Do you have a buy to let or property investment related question for Rob & Rob? You could feature on the next episode by giving us a call on 013 808 00035 and leaving a message with your name and question (normal UK call rates apply). Or if you prefer, click here to leave a recording via your computer instead. The next question on Ask Rob & Rob could be yours. Have you joined us over on the Property Hub Forum yet? Our online community is friendly, informative, and the members are waiting to welcome you with open arms. So get yourself over and introduce yourself. See omnystudio.com/listener for privacy information.

Transcript

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0:00.0	Hi, I'm Rob. And I'm Rob. And this is Ask Rob and Rob.
0:07.0	Hello everyone and welcome to Ask Rob and Rob, the show where you get your questions in and we get all our answers out and wow that does feel good.
0:14.6	We do it every single Tuesday we've done it hundreds of times now but that's because we love it and you've got
0:18.8	lots of questions. So let's keep those questions coming in let's remind you how to get involved.
0:22.4	Yep just give us a call on 01388. keep those questions coming in. Let's remind you how to get involved.
0:22.6	Yep, just give us a call on 013, 808,00035, that's 013, 808,00035,
0:28.7	or you can head over to Property Hub.
0:30.8	dot net slash Ask. Leave us a voicemail via either of those methods, sit back patiently and we will furnish you
0:37.0	with an answer.
0:38.0	So let's get into the show and do that right now for Sam.
0:41.0	Hi Robert, Rob, It's Sam here.
0:43.0	Thanks for being such superstars when it comes to property.
0:46.0	The question is a simple one.
0:48.0	What exactly is the difference between a refurb and a flip.
0:51.0	We're trying to Google it because you've covered flips and refurbish separately in your
0:56.0	podcasts so just trying to understand what the distinction is between them. Thanks.
1:01.0	I love this question Sam because when you talk about property a lot you can just make assumptions that you say something and it comes across well and it's easily understood and actually the more experienced you becoming property the higher the chance that you just talk about terms like
1:13.7	flipping and refirbing and just assume that people understand.
1:17.1	So I really do thank you for the question because I think you're going to help a lot of people
1:19.9	out today.
1:21.1	So normally when people talk about a refurb, it's going into a property and refurbishing
1:27.6	it. And what they do from that point on comes down to really two main options, the first of which is to retain the property and
	...

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