House flipping has become a regular sight on our TV’s over the last decade, with numerous shows dedicated to people renovating and selling properties. Although it’s much harder work than these shows tend to highlight, it can be a fulfilling way to earn money. Moreover, it’s very satisfying to see the project through from the beginning to the result. In fact, some people like the property they renovate so much that they end up living there.
While most major UK cities have an active property development industry, not many can compete with London. The capital is ideal for renovating flip houses, even though the housing market has seen a slight decline in property value. Anthony Ward Thomas is the perfect company for property developers to partner with when undertaking a new house flipping project.
How to Start Flipping Houses in London –
Although there are no unnecessary steps during the process of entering the property development sector, this one is a deal-breaker of sorts. You’ll need to have a decent amount of capital to begin your house flipping venture. So, if you’re planning on house-flipping as a full-time career, you should start saving while you’re still working in your current job.
The next thing you’ll need to do is plenty of research and planning. This might not be a new thing for you if you have some experience in construction or property renovations. However, this doesn’t mean you can wing it and play fast and loose. Start by outlining and drafting a business plan which includes a budget. Additionally, you should consider doing some networking and have subcontractors ready to contact.
Then, we move on to the meatier part of house flipping – finding the houses and apartments you’ll be developing. Auctions will be somewhere you’ll find suitable properties to buy and fix up. And there are plenty taking place all around London weekly. Furthermore, make sure you seek advice from online articles before buying at auction or elsewhere to avoid any newbie mistakes. If the auction house posts information on the properties before the bid, make sure you read up on them.
A final point that you’ll need to be well-read in is regulations. You need to understand them before undertaking any development project. If you’re unsure where to start, contact your local municipality and request building regulations and information. For the most part, avoid buying listed buildings. They’re a regulatory nightmare, and there are strict limitations on converting them.
Using Removals and Storage Services –
When the time arrives and you’re ready to begin the development of your property, you’ll need to find subcontractors and partner companies to work with. Anthony Ward Thomas has a range of removals services that suit every type of home refurbishment or renovation project. Many professional home developers and interior designers use our Small Vans and Self Storage services as part of each project they undertake.
Our Small Moves is a premium version of a man with a van package that aims to attain the highest standard of service delivery. With this package, you have two Anthony Ward Thomas team members at your disposal and the use of a vehicle. All your equipment and materials can be offloaded and collected at the start and end of each working day.
And to compliment your man and van service, it’s always a good idea to have somewhere secure to store your tools and building materials. That’s why renting a self storage unit through Anthony Ward Thomas becomes a sound investment. You won’t have to worry about issues such as water or fire damage, in addition to having protection from theft.
There is no lease to worry about – you only need to keep your storage unit for the duration of your project. Many of our customers keep their units long after their refurbishment or renovation project ends because of the convenience storage provides. Moreover, their next project is just around the corner, and they’ll need to have somewhere they can store materials.
Home-Staging – Adding Those Final Touches –
We’ll go into more depth about what you might do with your property after the completion date in a later section. One of the main issues developers realise is the space after the job. It’s tricky to predict the market, even with the best valuation from a seasoned estate agent. And some sobering information – the average time it takes to sell is just over four months. That doesn’t include any preparation time, so you’ll need a strategy to reduce the overall selling timeframe.
Luckily, there’s a solution at hand, and we know a thing or two about it. Home-staging is an interior design technique, and the concept is to highlight your property’s best features. All of this has the potential buyer in mind, so the focus is on the sale. It’s worth noting that it does sometimes takes a bit of investment to get the desired results. To get more context, you can read more about the science behind it here.
The first place you’ll consider is whether you’re planning on doing this yourself or handing it over to the professionals. It will be beneficial to cost out both options, and then you’ll have the figures at hand. As previously mentioned, Anthony Ward Thomas work with full-time designers who offer a High-End Staging service. For us, we’re sticklers for quality, and every customer we refer for this package has nothing but praise for the results.
Man & Van – Why Interior Designers Use It –
We gave a few examples earlier in this blog, and we’ll look at them both in more detail in the following two sections. Self storage and man & van are the most popular services with property developers and interior designers who are our clients. That’s because they serve a direct purpose for their daily operations. Let’s go over the two primary functions tradespeople need and how both packages equal that requirement.
If this is your first property development, you might struggle for a suitable vehicle to carry and transport everything to and from the worksite. That means your choice is to purchase one or lease it for the duration of the build. We’re not suggesting you make a decision yet because it’s necessary to price everything fully. You never know when the information will be handy, so never discount potential routes too early. There is one further consideration available to you, and that’s man and van.
Anthony Ward Thomas has a high-quality man and van service called Small Moves. When you book this package, you get the use of a vehicle that’s appropriate for your needs. As mentioned earlier, two of our team are on hand for all heavy-lifting duties, and they have superior handling and packing skills. We charge by the hour for this package, which is essential when keeping costs manageable. Furthermore, we can deploy straight away for last-minute jobs. And as many developers will attest to, emergencies do happen.
Another more practical side of using these vans is their ability to reach building sites with access limitations. Moreover, you won’t have to worry about parking restrictions for larger vehicles or blocking the neighbours in. Similarly, this package is ideal for densely populated areas like city-centre apartments.
Self Storage – No Need for a Workspace –
Most people developing a single property or a new one won’t have a dedicated place to work from. It takes investment with long-term goals to make commercial rental a viable choice. You might be stuck with either keeping tools and materials on-site. Otherwise, you’ll keep everything in the van or your garage overnight. And both of those options aren’t suitable.
The secure way to do this is to find an affordable temporary place to house things like building tools and materials. Self storage solves all of these issues with one holistic service. There’s no safer way to protect and store your equipment from theft or damage. And you have unlimited access to your unit during our business hours.
Then you can link your self storage and man & van services together to create the ultimate property developer’s package. You’ll enjoy the benefits of quicker unloading and packing from your van and self storage unit, making it a seamless process. And as we mentioned earlier, there’s no lease to worry about or minimum storage contract. You can store as you need to, and conclude renting when the project is over.
Airbnb and Selling – Ideas for the Future –
Next, we’ll consider what happens when you finish your development project, and you’re thinking about what possibilities are on offer. It’s a good question – what happens when the job is over? You’ll need to earn money from your endeavours unless you’re moving into the house or apartment. Even then, one of the suggestions from this section is still relevant.
Airbnb is an excellent platform, and they provide lots of resources to help new hosts set up their own online businesses. You don’t even need to be a landlord to take advantage of this because many specialists manage properties. And if you install smart locks, you don’t have to meet guests to book them in. You can put your home on Airbnb when you go on holiday to make a few quid.
Putting a house for sale is the second option, and it’s where the term ‘house flipping‘ comes from. Property developers often buy and remodel homes so they can flip them for a profit. You’ll have to refer to the home-staging section again if this sounds like the preferable choice for you. It’s essential to be market-ready to avoid languishing without a sale. You can start looking at other prices for similar properties to see potential profits.
Anthony Ward Thomas – the Professional House Flippers Choice in London –
Anthony Ward Thomas works with hundreds of people who flip properties every year, both in a professional and domestic scenario. You’ll need a ready-made list of companies and subcontractors when it’s time to start the gritty work. We’re able to offer assistance with arranging these services and make any referrals. Additionally, we are on hand to partner with you during your refurbishment or renovation project.
The Anthony Ward Thomas ethos is to provide the highest level of customer service available for every job we sign up for. Our crew are all experts in removals and storage, and many of them have trade and construction experience. And meeting deadlines is essential for both the property development and removals industries. That’s why you can rely on us to be timeous and available to discuss your services at any time.
Booking a removal or storage service with Anthony Ward Thomas doesn’t begin and end with us selling a package. We want to help our clients wherever and whenever we can. So, if you’re struggling with any aspect of planning, you can drop us a call or email to see if we have any relevant information.
If you’re planning on trying your hand at house flipping, click here. We’re available to discuss how our range of services can play a vital role in your property development venture in London.