A Dundee house “flipper” who transforms tired, sometimes mould covered homes into liveable properties wants to share her experience of the best and worst parts of working in the housing market.
Jennifer Olivier traded HR for housing after teaming up with her dad John, a retired painter and decorator, to convert her first house near Dawson Park.
She is currently waiting on planning permission to turn Broomhall House, the former Jessie’s Kitchen on Albert Road, into 13 aparthotel rooms.
And if granted, she plans on converting the eye-catching Victorian conservatory and billiard room in to a private dining experience.
Next week Jennifer will present at a special investor event at TSPC, sharing her story working in the property market.
House flipper’s storied career
“I’d always loved doing up my own homes and friends often suggested I should do it for a living,” she said.
“While my mum was risk-averse, my dad had been a painter and decorator all my life and shared my passion for getting into property.
“So, in 2011, I bought a house covered in black mould near Dawson Park and completely transformed it before selling it as a beautiful new family home.
“That was my first ‘flip’, and was the moment I realised that I could make a living from this flexibly, alongside my freelance role as an HR consultant.”
Sadly, Jennifer’s mum took ill before passing away in 2013.
This inspired her to strive harder in the property market, and she took it on as a full-time career just before the pandemic.
“Dad had given up work to look after my Mum, so we decided that having a focus and something to talk about would help us both.
“We went on to renovate several tired, rural cottages in and around Dundee, transforming some into holiday lets. I went full-time with property development just before Covid struck.”
And her jute-baron manor-conversion will be named after her late mother, primary school teacher Isobel.
“Mum was a primary school teacher and worked with children in some of the city’s most disadvantaged areas.
“She cared passionately about these children, and I’d love to do some good in her name, ideally creating a fund that her school would have discretion to use as they saw fit, perhaps for families who are struggling.
“My parents worked hard all their lives, but because Mum was diagnosed just as she retired, they never got the time to enjoy the things they wanted to as a couple.
TSPC event
Jennifer believes those looking to get into property “flipping” should start small, warning of the pitfalls that befall many who rush into the industry.
“I subscribe to the view that you can work for money or have money work for you, so I’ll be sharing ways to use property as an investment tool that pays you an income.
“While I’m currently working on the project of a lifetime, I’d advise anyone starting out to go for something that doesn’t need planning or an architect, to get a few under their belt, saving cost and time.
“As soon as you need planning consent, you slow down your progress and escalate your costs.
“I’ll also highlight the financial aspects people might not be aware of, for example, the Additional Dwelling Supplement that kicks in when you buy a second property, the situation with council tax and the risk of buying homes that might not be mortgageable, not to mention building regulations which are becoming stricter year on year.
“While I love my career and find it incredibly rewarding to see people’s reactions, forewarned is forearmed, and the more you know in advance, the more successful you will be.”
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