Flipping is the most contentious means of investing in property. This is, essentially, the process of putting a down-payment on a property off-plan and then selling it before taking ownership.
It is also often also often used to refer to selling a property on shortly after taking possession but, in this case, the investor gets caught for full capital gains tax which a proper ‘property flipper’ would seek to avoid. Avoiding the capital gains tax is, incidentally, illegal in most countries, Ireland included, but it was still a very common form of investment until the beginning of the current economic crisis.
So far so good, but then of course everything is generally rosy until you go to actually sell that wonderful profit centre (overseas property) you purchased. As a lot of people have found out, all may not be quite as simple as the commission driven salesman would have you believe.
If you are considering investing in overseas property then this mini-series of articles on the main ways to invest, and what types of overseas property products are on the market, is an absolute must.
You'll find the full informative piece here.
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