Hi everyone,
This is my first post so please go easy.
My wife has decided to look at trying to buy, renovate then sell properties as a part time job for her. We are very much in the 1st week of researching this idea and we have both spent days going over information on the web. The way we would look at doing this is a little different to most as we live in an extremely remote part of Australia. As we live so remote we would look at doing 99% while not being "on site" and fly in a couple of times during the reno which will bring its own set of issues which we are working through now.
If we were to be buying, renovating and selling a house in the space of 4-6 months and the house would not be rented out does this need to be done as a business? if it can be done as a personal "hobbie" and not a business are we better off doing that or running under a business name.
We were not sure how we would go not being able to do a lot of the "DIY" stuff but the more I read the more I find that the advice is have it done by people who know what they are doing for fixed price quotes. Does anyone think that as long as we buy the right house there is still money to be made if you have contractors do the whole job?
We will still be about 3-8months away from buying a property if we can find the right one so we are looking for any advice on weather or not we need to start a business? if people think it is actually feasible using contractors for the whole job? or any other advice about the whole idea.
Thanks in advance.