I’ve read the article on this website about flips. I understand that a $70 000 profit can easily be reduced to $25 000.
When you’re earning $10 000 p.a., $25 000 looks awfully good. I am more than happy to lose profit to Capital Gains at this stage. What I really need are a few good chunks of cash, and quickly.
Wrapping is a brilliant strategy which I will be utilising, it’s just right now I need a kick start.
Is anybody actually doing these? (Specifically in Perth?) With all the material and hype geared towards long-term strategies, I’m beginning to wonder if anyone has eyes for this strategy.
Thanks,
Luke.
Luke, welcome
If you do a search for Perth or WA on the forums, you’ll come up with a wealth of information on who does what.
You’ll probably get some emails of people you could talk to/meet up with also.
Cheers
MelI have a client who is buying and onselling quickly for a good profit. He is still doing this despite the current market – a few weeks ago he made a fair bit. There is still money to be made if you are willing to take high risks.
Terryw
Discover Home Loans
North Sydney
[email protected]Terryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
http://www.Structuring.com.au
Email MeLawyer, Mortgage Broker and Tax Advisor (Sydney based but advising Aust wide) http://www.Structuring.com.au
>>There is still money to be made if you are willing to take high risks.<<
Terry, I bet that your client doesn’t consider whatever he is doing as ‘high risk’.
He obviously has a strategy, knows what he is doing, has a pretty good idea of what the loss is if whatever he is doing doesn’t quite work out and he even possibly expects a certain number of deals to turn into a loss.
If, on the other hand, one buys a property in the hope (meaning ‘not knowing what one is doing’) of selling it at a profit that would be high risk (or gambling if you like).
Pisces133
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