Property Developing

[Jasandjules]

How much cash do you need realistically to get into property developing?

Would an interest only mortgage be given for a 100% value on an auction property?

[Jasandjules]

Plotloss said:

I've got to say, I think you're a bit late to this particular party...

Indeed, I am sort of thinking about planning it all out in the event the housing market takes a dive...

[Jasandjules]

shadowninja said:

In that case, forget the developing as they'll probably already be developed (complete with laminate flooring, brushed metal knobs, aluminium kitchen etc) when the owner remortgaged for some home improvement.

That is a fair point, BUT I was thinking of those repo's wherein the ex-owner removes everything including the kitchen sink prior to eviction....

Purchasing a spot of land also appeals, but I know the hassle and likelihood of finding one !!

[Jasandjules]

blackcab said:

you are 10 years behind the boom my friend, unless you have cash you will struggle to see any kind of worthwhile return.

That is my question though, how much cash would be needed to get in at the one bed flat type of level!?!? 50k? 100k? Basically how much do you need to get started?