BluKoo
Member
Registered: 8th Apr 02
Location: Stonehaven (Scotland)
User status: Offline
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Maybe a long shot, but i was wondering it anyone on here was involved in any sort of property development?
If so, what do you do?
Are there still plenty of oportunities considdering the current 'economical crisis' or are there more oportunities to make some cash because of it?
Only reason i ask is becasue i might be able to lay my hands on enough money to start doing something along those lines and to be honest, i'm really quite tempted.
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daymoon
Premium Member
Registered: 1st Aug 08
Location: Selby, North Yorkshire
User status: Offline
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i'd think buy now, do the property up, rent it so u get the mortgage paid..
when prices go up - sell..
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Matt H
Member
Registered: 11th Sep 01
Location: South Yorkshire
User status: Offline
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House day.....
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BluKoo
Member
Registered: 8th Apr 02
Location: Stonehaven (Scotland)
User status: Offline
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Just wondering how long it will take for property prices to start recovering...
Saying that, with the development of 3 new (huge) golf courses near by, the prices might start going up sooner than a lot of other areas.
quote:
Originally posted by Matt H
House day.....
This isn't anything to do with a house. Its about investment.
bah... already been moved... pppffft.
[Edited on 27-11-2008 by BluKoo]
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J da Silva
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Registered: 10th Apr 03
Location: The FACTory
User status: Offline
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Yes, buying land and building to rent/sell, what in particular are you aiming at?
Land prices are getting pretty silly now as alot of people were building properties with their savings rather than paying 5 x as much for an overpriced. It doesn't cost as much as people think if you do it right, it's the land that's pricey.
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deano87
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Registered: 21st Oct 06
Location: Bedfordshire Drives: Ford Fiesta
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tbh, if you have the cash to cover the entire project, there is no reason why you shouldn't build and have confidence - you'll get cheap labour, cheaper materials, cheap land. By the time it's built, just hope the economy is recovering a bit. Naturally, you need to sell before doing another project BUT in the current climate, simply rent it out and wait to sell.
You'll also get credit for another project from a bank, using the other wise you've just built as 'insurance'.
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Mad Moe
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Registered: 14th Jun 01
Location: Northumberland
User status: Offline
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Have my own business doing small high qulaity developments in the NE of England andf to be honest it is quite easy to get into. The only advice I would give is make sure you get someone on board who you can trust to project manage it for you. I've seen many a wannabe developer with no building experiance think they know it all and become really unstuck. As for if it's the right time to get into the market only time will tell, I decided to shut up shop last December for a year and have only just started looking at sites again now and bearing in mind how long it can take to get a development off the ground I couldn't see me actually starting to build anything until Summer 2009 which most development lenders seem to think could be the turning point in the housing market.
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J da Silva
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Registered: 10th Apr 03
Location: The FACTory
User status: Offline
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Moe I think the prices will bottom out quite soon and people will buy again, if you could manage a 14-20 week development and rent them out until people buy again it would be ideal, we both know you could do it the cheap way until it picks up, build a few terraced to save on timber/bricks/slate/fascia's etc.. and just use other trades for stuff you can't do.
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a_j_mair
Member
Registered: 23rd Jan 04
Location: Scotland
User status: Offline
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currenlty have 2 propertys up for sale with little interest
another 4 at same site still to be converted and a farm that is rented out which shall be developed
not the best time for selling
rental market is good though
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Fad
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Registered: 1st Feb 01
Location: Dartford Kent Drives: 330cd
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ut depends on whether you ae wanting to do new builds or refurbishments.
I would build a portfolio of refurbishments and build on your equity then look into bigger scale developments.
It may be prudent to involve surveyors to project manage on larger scale projects once you have got going.
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a_j_mair
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Registered: 23rd Jan 04
Location: Scotland
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new builds are by far the easiest and cheapest to build
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a_j_mair
Member
Registered: 23rd Jan 04
Location: Scotland
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as apposed to conversions i mean
refurbs can be good but got to do your homework and set realistic budgets
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Colin
Member
Registered: 4th Apr 02
User status: Offline
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Just buy a few houses & rent them out if you've got cash to burn!!
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