didnt intend on doing it, bought our flat, gutted it, I fitted new kitchen etc..... paid £89,000 for it and 11 months later had it valued at £115,000 , and TBH my organisation skills werent at there best, Im gonna make a much better job of our second one, and that valuation was 6 months ago so its probably worth even more than that now

 

well you might get a few hundred quid out of it a month, but that aint exactly good profit is it ?

you property maybe go up 20-50k over 5-10 years from , again not exactly a great profit for the time scale.

real property development and real money is made in the new build sector, hence why we chose that area to go into.

 

but if you have made maybe a ton a month,, plus you have made 20 k in five years,,, thats not horrible for an investment of maybe just 15k

i do agree with you on new builds though,,, its hard to get in now though, as the people in the know hear about the lands first

 

i understand what you are saying but my sort of take on it, its not enough to make a living from and have it as your only profession. my missus spends fookin 20k in a month never mind in 5 years

my only profession is new build homes so thats why i took that sort of stance on BTL not really making any money.

People in the know get the land, thats why its important to make the contacts, but there are sites on the market all the time, and if a big enough site you can easily make a million if you get the job done properly

 

This Boat has sailed im afraid ! Land and new builds is the way to make real money , i started developing in '93 at the bottom of the recession when you really could earn money from turning houses , there are no margins now unless you just play at it . As for doing the job yourself , forget it , you have to turn the money quickly or you just dont make a profit , its a very fine balance !
Avoid capital gains tax by living in the house you renovate or at least renting on the quiet while you do it , as long as its your principal residence you pay nothing . I started a ltd company to cover myself , only pay 18% income tax and all the bills go against that , never paid any real tax and haven't done too bad
Good luck !

 

you need a cheaper missus



one day i would like to run a new build project, but at the mo i havent the time nor the access to money to allow me to

 

your fuckin right i do , the smae missus but cheaper would be ideal

ive got 123 units planned for the next 18 months now, plus the sale of a site for about 120 units. 6 months ago i had 0 units planned !! it swings in roundabouts with the land.

 

i thought there was a cap on how many you could do this to and pay no tax?

 

all the best mate,, thats a big project

 

cheers it aint just one site , the units are spread across 5 different sites.

 

Nope , just dont move house more than 3 times a year or they flag you up at the Inland revenue !

 

thanks tony,,, in never looked into newbuil, so dont really know the score with them

hopefully got my finger in a nire "buy of plans" for later this year will be the nicest location anywhere in cardiff!

 

worth looking at commercial land & property as well, probably bigger money in that than residential

 

Good advice Tony , to start with it will just be playing as we will both be doing our normal jobs too, would be nice to earn a little extra though

 

Matt its pretty much dead in the south now for house refurbing, ive been at it for 3 years and it is good money, well only if you live there like i have. 40% on 30k profit is not a lot of room for a house that cant sell or if the market drops. Ive been looking since november and i havent seen anything with more than 20k profit and paying 40% for you on that would not be worth it.
Just make sure what you buy has a decent mark up otherwise steer well clear. I looked at a house yesterday and it was up for £175k, found out they only sell for £200k max finished and it needed atleast 20k worth of work. And that was a house which hasnt gone on the market yet so i recon it will sell for well over the asking price

 

Cheers Jas , it's finding that elusive property it seems, are you hunting all over the south mate?

 

This site offers an alternative to going it alone :

www.thepropertyinvestmentmarket.com

Basically you buy shares in a house, receive a dividend by way of the rental income the property generates, and you can sell your shares whenever you like.

The sites nothing to do with me I hasten to add, I just thought it was a good idea, and a good way of investing in the property game without having to break the bank (or do any hard work..!).

 

GARETH T No access? There are building societies who will lend you 95% of Land Value, and 95% of the build cost, with all build costs signed off by an appointed valuing surveyor before the bank pay you/your builder. Money isn't obtainable.

There are many ways to make money from property.

1)Buying to do up and sell, remember, dont do up for your tastes. (i.e do not let the other half pick things..) do not get attached to it.

2) Buying to let. There is money to be made, but depends what line of btl you fall into, what area your in and how much you want to make. Fit 6 bedsits into a back to back at £60/week and keep away from DSS and you probably wont do too badly. £18,720 max/year x 80% occupancy £14,976 on a circa £100,000 interest only mortgage, circa £7k. Yes obviously there is tax and running costs and having to show people around, time etc but I think it does pay. The mortgages require about 25% deposit, and can sometimes be picky about your earnings. And they want to see 125% return. i.e 25% above your mortgage costs.

3) New build. Like i said about the Self Build routes. Buy the magazines, see what people are doing. If you have done Buy To Let you will no doubt be friendly with your local building society you may have a better leg to stand on for appraching them on a self build route. If you purchase land without planning, get a feel for the surrounding area, what is about, what sells? Get a contract wrote up for the land purchase whereby you only pay if gains planning, or outline planning permission.

You could build a few mews style houses, one or two luxury apartments, and build yourself a 5 bed house on the end, and the sale/rental of the other units would pay for your own mortagage.

There are many ways of making money out there.

Happy Building.

 

hoping to start Gareth! Only been in business 7 months now but hoping to soon

 

good move lee even better if you could buy a bit of land

 

im biding my time mate im in no rush. I make decent money without headaches....buying land t develop would give me headaches...so i need to know it will be worth it first

 

having done market research, one of the best ways to start, not to mention cheapest, however big-risk, is buying plots of land at auction with no planning permission cheap, then obtaining permissions and selling it for 4-6x than you bought it. obviously if you cant get permissions you sell it on at auction, but thats a risk you take.

 

my boss makes ALOT more than one million from a site
thats just the 2 penthouses at the top of each stair

 

so do we , but im just using that as an example, ie you can make ur first million buy simply developing a few new houses !!

who is your boss & what company does he run ? i see your not far from me !

 

There's huge money to be made from BTL in London, although it's far more a long term investment, than a straight out money earner.

I would only BTL as an extra on top of a regular income, as you'd have to have a huge number of properties to make it worthwhile. Having said that, I know a couple of people who have done exactly that, and with the ridiculous capital appreciation on the large number of properties one of them "owns", it's certainly not been a bad few years for him.