The notion of buying a derelict house, doing it up and selling it on to make a profit sounds like a good idea in theory, but not everyone is successful in doing so. With interest rates continuing to rise and demand falling, it is proving to be a difficult time for first-time buyers and those wanting to move up the property ladder.
But despite the market uncertainty, property experts are proving that there is still good money to be made in the housing market, especially in the Greater Manchester region, if you know what to do and where to look.
Property entrepreneur Jack Smith from Manchester spent years learning about the trade which led him to start investing in properties. The 26-year-old, who is now the director of The Property Network and runs his own estate agency, bought his first house in the region two years ago which he flipped to make an impressive £64,000 profit.
