{"id":5207,"date":"2015-07-30T01:00:42","date_gmt":"2015-07-29T15:00:42","guid":{"rendered":"http:\/\/realestatetalk.com.au\/?p=5207"},"modified":"2015-07-30T01:00:42","modified_gmt":"2015-07-29T15:00:42","slug":"what-does-flipping-mean","status":"publish","type":"post","link":"https:\/\/channels.realty.com.au\/realtytalk\/what-does-flipping-mean\/","title":{"rendered":"What does &quot;flipping&quot; mean? &#8211; Shannon Davis"},"content":{"rendered":"<p>&nbsp;<br \/>\nIn today&#8217;s show\u00a0<strong>Shannon Davis<\/strong>,\u00a0from Metropole Properties in Brisbane, explains what flipping is and how it stacks up against other strategies like buy and hold.<br \/>\n&nbsp;<\/p>\n<h4>Transcript:<\/h4>\n<p><b>Kevin<\/b>:\u00a0 There is an American term you might have heard us use in the show here that has come into our vocabulary, and that is \u201cflipping.\u201d Flipping is where you buy a property, renovate it, and flip it back over \u2013 but you need to do it quickly. Is that a good strategy to use in this market as opposed to a buy-and-hold strategy?<br \/>\nShannon Davis from Metropole Properties in Brisbane joins me. Shannon, is it different in each city. Would you be flipping right now in Sydney as opposed to Brisbane?<br \/>\n<b>Shannon<\/b>:\u00a0 With a market like Sydney right now, there is a much better chance that it\u2019s going to make it.<br \/>\n<b>Kevin<\/b>:\u00a0 Yes, you\u2019re really taking the punt by the time you buy it, renovate it, and then flip it \u2013 which can probably take anything up to six to eight weeks \u2013 that the market is going to continue to grow, because if it folded in Sydney, you\u2019re going to be in a lot of strife.<br \/>\n<b>Shannon<\/b>:\u00a0 Yes, exactly. The more you have to time your exit strategy, the more that I\u2019m worried about it, because no one can control the market. In Sydney\u2019s market right now, you probably could do nothing for six to eight weeks and still make a profit.<br \/>\n<b>Kevin<\/b>:\u00a0 That may be, but then it might tank in two months, too.<br \/>\n<b>Shannon<\/b>:\u00a0 Yes, that\u2019s correct. For me, I\u2019m a buy-and-hold person. I don\u2019t like the entries and exits of property. You have stamp duty, you have sales commission, you have conveyancing fees, and often, finance costs on top of that. You have to make the improvement, buy well, have the market not turn against you and then with all those entry and exit costs, still make a profit at the end of that. Then, if it\u2019s sold in the first year, you have capital gains tax in the full whack.<br \/>\nFor me, if you have a clever finance person, you can still make those gains, do your value-add, but refinance in order to get yourself another deposit as well as hold the asset. If we\u2019re doing it for wealth, then that\u2019s a much better strategy, because you\u2019ve paid no entries and exits, you\u2019ve paid no taxes and you still have another appreciating asset as part of your wealth.<br \/>\n<b>Kevin<\/b>:\u00a0 We\u2019ve heard Michael Yardney talk about looking for properties that you can maybe add a twist to. You might pick it up at a certain figure, you might do some slight improvements to it that are going to maybe return you more, because you might have added another bedroom or something. Is that part of your strategy?<br \/>\n<b>Shannon<\/b>:\u00a0 Definitely. If you can see opportunities where others see obstacles, like adding an extra bedroom, that is going to definitely pay dividends in the long-term for the value-add. Property is the one thing that we can add value to. We can\u2019t do it with shares, fixed interest, or gold and silver. If we\u2019re in property and we\u2019re going against value-add techniques, then really, that\u2019s the one thing you have in your favor.<br \/>\n<b>Kevin<\/b>:\u00a0 It\u2019s very true. When you think of it, that\u2019s the one thing that stands out, and if you\u2019re not utilizing that, then you have rocks in your head. Why are you doing it?<br \/>\n<b>Shannon<\/b>:\u00a0 That\u2019s right. Even in a falling market, I\u2019ve added value to properties through renovation. That means you\u2019re in control.<br \/>\n<b>Kevin<\/b>:\u00a0 Let\u2019s look at the Sydney market for a moment. If you were going to flip in Sydney, one of the things you probably should do is try and get early access to the property so you can be renovating before you even settle, before you have that major capital outline.<br \/>\n<b>Shannon<\/b>:\u00a0 Yes, and it needs to be agreed with the other party and solicitors, and there is a little bit more risk in doing that for both parties.<br \/>\n<b>Kevin<\/b>:\u00a0 All right, there it is, a bit of a scenario for you about flipping and a good explanation about flipping as well.<br \/>\nShannon Davis from Metropole Properties in Brisbane, thanks for your time, mate.<br \/>\n<b>Shannon<\/b>:\u00a0 No worries, Kevin. Any time.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>&nbsp; In today&#8217;s show\u00a0Shannon Davis,\u00a0from Metropole Properties in Brisbane, explains what flipping is and how it stacks up against other strategies like buy and hold. &nbsp; Transcript: Kevin:\u00a0 There is an American term you might have heard us use in the show here that has&#8230;<\/p>\n","protected":false},"author":176692471,"featured_media":5208,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[10,13,25],"tags":[101],"class_list":["post-5207","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-kevin-turner-sponsored-channels","category-latest-story","category-sponsored-channels","tag-podcast"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>What does &quot;flipping&quot; mean? 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