ACCOUNT FOR THE FACTS AND FIGURES
With the help of an expert or a knowledgeable family friend, you should calculate your profit after taking all the costs and overheads into account. This includes the taxes too, which beginners usually forget to account for.
Especially when you’re looking forward to investing in flipping properties, you should account for the income and corporation tax. Calculate your expected profit to ensure that you’re not left with a zero in the end when the progressive taxes have eaten up all the property’s increased rate.