8:34 AM, 29th June 2021, About 4 weeks ago 23
This quiz will run until the end of July 2021. We will then send a bottle of champagne to the person whose comment we like the most.
So, here’s the scenario.
A property trader buys a house for £200,000 with cash savings only and immediately flips it achieving a sale price of £300,000.
Two years later he buys the same property back for £360,000 (again with cash savings) and flips it again for a sale price of £420,000.
He doesn’t use agents, so he has no sales commission to pay, and he does no work to the property and spends no money on it whatsoever.
Now the questions are:
To make things a bit easier, we shall assume the Property Trader has no other income whatsoever and does both of the deals personally as a result of having no family. The trader does, however, own his own home.
Please leave your answer in the comments section below. Judges decision is final. This competition is not open to Property118 employees or Consultants. We do have the email address of all Property118 Members who post on our forums, so there is no need for you to leave contact your details. The winner of the champagne will be announced on 1st August 2021 on the discussion thread below and will be contacted offline to organise delivery.
Good luck 🙂
Please Log-In OR Become a member to reply to comments or subscribe to new comment notifications.
Advice and implementation provided by a practising Barrister-At-Law with £10,000,000 of Professional Indemnity InsuranceBook Now
Next ArticleJune annual house price growth 13.4%
|“Account”||means an account required to access and/or use certain areas and features of Our Site;|
|“Cookie”||means a small text file placed on your computer or device by Our Site when you visit certain parts of Our Site and/or when you use certain features of Our Site. Details of the Cookies used by Our Site are set out in section 13, below;|
|“Cookie Law”||means the relevant parts of the Privacy and Electronic Communications (EC Directive) Regulations 2003;|
|“personal data”||means any and all data that relates to an identifiable person who can be directly or indirectly identified from that data. In this case, it means personal data that you give to Us via Our Site. This definition shall, where applicable, incorporate the definitions provided in the EU Regulation 2016/679 – the General Data Protection Regulation (“GDPR”); and|
|“We/Us/Our”||Means Property118 Ltd , a limited company registered in England under company number 10295964, whose registered address is 1st Floor, Woburn House, 84 St Benedicts Street, Norwich, NR2 4AB.|
|Name of Cookie||Purpose||Strictly Necessary|
|JSESSIONID||Used only to collect performance data, with any identifiable data obfuscated||No|
|__cfduid||This cookie is strictly necessary for Cloudflare's security features and cannot be turned off.||Yes|
|Name of Cookie||First / Third Party||Provider||Purpose|
|__utma, __utmb, __utmc, __utmt, __utmz||First||Helps to understand how their visitors engage with our website|
|_fbp||First||Helps to understand how their visitors engage with our website|