BUK

Who here does property Developemnt as a full or part time carear ?

i know a few people on here do it , as i spoke to a them , thanks peeps

Anyone else on here do it ? Just looking for some advice some good places to get some info from , where to do research etc.

If anyone has any info that would be great

philc

its something me and the old man are looking into at the minute. finding land is the hard part do you want to do new builds or refurbs?

philc

i dont think we are due a crash just yet, however prices seem to be leveling off, market can only sustain so much growth before first time buyers are outpriced and we seem to approaching that level.

Paul Eggleton

I think a lot of people are jumping on the band wagon and the price of crappy houses is rising so you have to pick your location and property wisely to make some decent profit.

Some of the people on these programs haven't got two brain cells to rub together thouhgh, one women the other week wanted to completely renovate, building a conservatory/extension, two bathrooms etc for 20K. I pissed myself when she was quoted £35k just for the conservatory/extension.

But then again the couple on grand designs who did their house in scotland on had some savvy and did a good job.

philc

we are looking at new builds rather than refurbs, just as much hassle, probably more however at least you have a fair idea of overall cost before the project starts( if researched and surveyed properly!!)

BUK

Phil @ the moment id say refurbs would be wot id be looking to do for a year or two, being new to the industry there is a lot to learn etc, and id like to do that before jumpng in with building from scratch.

Anyone got any good sites etc that are worth looking at ? any books that can be reccomend etc ?

Paul Eggleton

BUK - it maybe worth looking at some course such as plastering etc. You can do a weeks intensive plastering course for £350. In the long run this will save loads

I'm going to do one later in the year.

philc

with refurbs i would agree with paul, the more you can do yourself the better, however if you have a full time job as well you have to offset your time against paying a tradesman and see which is the better prospect. i would rather turn a quick low profit than a 6 month slog working every weekend for a higher one.

Paul Eggleton

This really is the issue. If you give up and do it full time and profit margins are shrinking, then you will have to turn round houses really quickly to make good money.

BUK

Basically i run a business at the moment, so i can get some free time if need be.

I can do a fair but myself , along with freinds who are in the trades, ie plumbers etc.

The way i see it is , i run a full time business at the moment and have done for the last 4 years, im about to turn 22 and want to get some experience in this field, ideally refurbs are the best and easiest way to get into this. Once ive done a good few of them over a couple of years (bearing in mind profit margins done matter as long as profit is there) i would like to look at the new builds, my dad had done 2 so far and also runs a oil compnay , does them when he feels like it to be honest.

New builds can be very lucrative if done properly.

Lets face it there is never gonna be to many houses , there is always houses needed for people, so new builds are always gonna work some way or another , if they go according to plan

Ryan

Peice of advise, never use your mates to do any of the work, always use people your not friends with, that way you can treat them as employees and not as friends.

Make your target market as broad as possible, limiting your market limits your sucess of a sale.

and then just follow all the usual shit, that every tells you on all those DIY programs, neutral colours, stick to budget, etc etc

BUK

Ryan - cheers mate , spoke to u on MSN a good few times about it , been a good help mate.

Hows things coming on with ur latest development ?

BUK

my mate who i would get to do the jobs that can be carried out run their own business , if they dont work , they dont get paid simple. They done a lot of work for me in the past so im sure i could trust them, mates rates never come into it with me , i prefer to pay full wad and maybe get something extra , rather than pay less and have a chance of a fook u p or corner cutting somewhere

Ryan

Archetect is drawing up the plan as we speak, building persmission has been granted.

Currently contemplating what to do about the front garden.

BUK

Nice one mate Any closer to an idea when you think it will be complete ?

Paul Eggleton

Get him to start pumping more so the prices come down

Ryan

about 6-7 months.

But i might keep this one, and do another smaller property with the equity i've got on this

wayniac

any more info anyone ?? I been lookin into this for a few months now... watchin prices and so on..

christianh3

i quit IT cos it's fucking shit mind numbingly boring and bought a flat for 38k last oct now valued at 68k after spending about 3k on it . i'm not selling it fk that i'm renting it out for £100 profit per month, not alot i know but someone else is paying the mortgage on it and paying me £100 for the honour.

i'm selling the place i live in now for £35k profit (sale going through) which I'm gonna re-invest in another property and some shares i like the look of and rent in the meantime.

glens28t

sorry peeps but the discovery channel has got alot to answer for in my eyes, as it gives a very glossy look to doing newbuilds or refurbs and far to many people are trying to get into it and the money is droping out of it cos the demand for run down houses has gone up so has the price this in turn affects profit margins and also tradesmen like myself trying too run a company against people who know naff all about building work so they end up making not alot of profit where i could of made a packet .now i run my own carpentry company and i have had the displeasure shall we say of working for a few wanna be property developers recently oh dear is all i can say when you tell them that you cant do it like that as your not allowed too or its going cost this much to do it PROPERLY they dont like it and they come out with the "well my mate whos done a weeks building course says you can do it like this and oh thats too expensive " had one client who went ahead with his mates advice then mr building regs says actually youve done that totally wrong i get the phone call saying can u sort it out for me (yer rightoo) anyways rant over sorry peeps ive had a bad couple of weeks so if anyone in essex/suffolk wants a quality carpentry service pm me :