Ep127: Josh Summers - Flipping Properties - Co-Ordinating the Trades

Flipping a property is a great way to make extra income quickly, but if you don't know what you're doing, time could bite into your budget, reducing your profit and make you come out feeling flat with exhaustion and no money. However, if you have the organisational skills and the right team behind you, you could have a property that is worth its weight in gold. Today, we are going to talk to our flipping expert, Josh Summers, from Universal Property Company about how to co-ordinate the trades to maximise your profit.

Josh Summers is the co-owner of Universal Property Company, who is our expert property flipper. Josh has been involved in the construction industry for 15 years.  Josh and his business partner Tony created Universal Property Company to specialise in the acquisition and restoration of established properties to resell.

1. How important is it to have a team of trades who have the same work ethic as you, and understand that they are part of your team?

2. What are some of the complications you can get with trades?

3. What happens when one of the trades doesn't complete their section of the renovation - how easy is it to delay the next phase/trade for the renovation?

4. How many types of trades could you have working on the property at the same time?

5. How much time should we plan for unplanned errors when you plan your trades and material delivery?

   a.) Is material availability a major concern?

6. What's the ideal ownership time for a property that you decide to flip?

7. What should you be looking for when it comes to buying a property in terms of potential outlay vs potential return?

8. For the budding flippers out there, what's the best advice you can give them in terms of buying property in your personal name vs creating a business name?

 

Contact:

www.universalpropertyco.com.au

Follow universalpropertyco on Instagram.

 

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