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Flip Project – Completed 2015

    Home Case Studies Flip Project – Completed 2015

    Weavers Way, Ashford was a two bedroom semi detached house. The goal of the project was to flip the house for a profit. We purchased this property in July 2015 and the condition of the house was very poor. It needed a complete refurbishment and we placed ourselves under a lot of pressure to get all of the work done very quickly.

    Our contracting team is extremely professional and committed to our projects and they did a fantastic job in refurbishing this house in five short weeks. We placed the property on the market immediately and it only took two weeks for it to be under offer at the price we were asking.

    Everyone involved in this project worked extremely hard and considering that a new bathroom and kitchen was required as well as a lot of plastering work, complete redecoration and the transformation of the garden it is incredible that it only took five weeks to complete. You can see from the before and after photos the challenge that we had.

    Weavers Way finally sold at the asking price in January 2016. It could of sold more quickly but the purchaser’s mortgage company, insisted that we needed to own it for the minimum six month period.

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    Here are the project financials

    Costs Summary
    Purchase Price: £135,000
    Buying and Selling Costs: £3,500
    Refurbishment: £13,858

    Total Costs: £152,358

    Sale Price
    Value: £180,000

    Investment Returns
    Profit: £27,642
    Profit On Cost: 18%

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    Creative Property Group
    Letraset Building, Wotton Road, Ashford, Kent, TN23 6LN

    Phone Number
    0800 488 0027

    Email Address
    [email protected]

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