18/06/2026
What could possibly go wrong?
Back in 2018, we bought a great 3 bed terrace that looked ok from a local sourcer. Our first flip project. How exciting!!!
So where did it go wrong?
• the area was NOT a flip area
• we over spec’d the refurb - yes it looked amazing but this property did not • need integrated appliances and flash plinth lights or an en-suite
• we didn’t do our research properly - on either the property or the sourcer
• we overspent on the budget and couldn’t sell at the price we wanted - as investors want a discount!
So what did we do?
We reverted to plan B - make it a buy-to-let!
And we have had the same tenant in that property from day one. Still paying market rent as we have issued incremental rent increases each year so no nasty surprises and no trouble at all.
It always should have been a BTL so lesson no 1 is research properly and do your due diligence. Don’t try and flip in a BTL area unless you are prepared to sell to an investor.