The prospect of the Homes and Communities Agency aiding the building of new homes for rent by supplying cheap land or rental guarantees had faded in the face of government spending cuts. But the fact that the HCA called for expressions of interest from funds and developers earlier in the year has re-ignited interest in an un-subsidised private rented sector.
The prospect of long-term cheap money has widened the very small gap between income and expenditure to a sufficient degree for funds managers like L&G and Aviva to take a closer look. These two funds made it from a long list of over 60 to a short list of fewer than five in that expression of interest competition which ended in late summer.
Because the HCA's interest has slackened, little has been heard since. But there has been persistent chatter among funds and developers saying, in effect "hey, we don't actually need the HCA to make this work. Let's just get on and do it ourselves." Until today nobody has put any money on the table. But a report from Building magazine suggests that Aviva is to commit £500m over the next two to three years. Now, L&G, how much are you going to spend?
When it comes to flipping houses, nothing beats knowing what to do and doing what you know. Aside from knowing the right things, you must also learn what you must avoid to become a success story in the fix and flip business. Here are some mistakes beginners usually commit and you should avoid to make it big in flipping houses. Let's use eggs as an analogy for the properties.