
£201,000 From Three Flips in 14 Months (Property Flipping, with Simon & Wendy Lee)
They started in a one-bedroom council flat. Now one 14-month run of three flips made them £201,000, and they say most people lose their profit by doing too much work. Simon and Wendy Lee have 30 years in property and now flip houses on the Lincolnshire and Nottinghamshire border. They walk Doug through real numbers, real disasters (a mystery water main, a leaking wet room, a garden full of rotting aviaries) and the FLIPS system they teach: Find your funds, Location, Identify, Problems that only look bad, and Staging and Selling. Key takeaways:• Build a 10% contingency into every deal and roll the unused part into the next one.• Stay local (10 to 15 miles), because one side of a street isn’t worth the same as the other.• Fund it in circles: yourself, your home’s equity, family and friends, then networking.• “Back to brick” is a vanity metric. Most of the profit leaks out through over-refurbishing.• Some problems look expensive but cost very little.• Staging sells. Chapters:00:00 Intro02:46 Council flat to first rental05:27 Why they stopped being landlords06:35 Has the flipping boat sailed? £201k in 14 months09:53 The disasters: water main, wet room, aviaries12:24 The 10% contingency rule15:02 Why they stay within 15 miles17:11 How to fund a flip18:49 “It’s riskier not to buy”: bridging finance21:33 The double-probate deal25:02 What keeps them awake at night28:59 The FLIPS system36:12 Selling it yourself40:52 Your salary is £17 an hour45:19 Not being controlled by a job46:54 How to find them Simon & Wendy Lee:Website: www.realpropertytraining.comInstagram: real.property.people Website: http://dougbennett.co.ukEmail: doug@dougbennett.co.ukLinkedIn: https://www.linkedin.com/in/financialdoug Download Your “Ten-Step Guide To Financial Freedom” Here:https://bit.ly/Struggle-Success BOOK:https://www.amazon.co.uk/Think-Simple-Win-Big-Business/dp/B09MYXXS88/ Past performance is not a guide to future returns. Nothing in this episode is financial advice.















