8:34 AM, 29th June 2021, About 5 months ago 26
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 🙂
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