Property development reading list
Discussion
MrV said:
Berserker LM said:
What annoys me now is the stupid TV programs still trying to persuade people to invest everything in bricks and mortar, then showing auctions from two years ago. I'm not addicted to property programs BTW, but have caught a few of these recently when my Dad was ill, and totally horrified that the TV companies still spew this totally misleading info. People can, and still are getting themselves into deep st with property. It's a hideous business at the moment, and one I'm very glad I stayed well clear of in the current climate.
Not only that but they only ever gave half the true picture even in the days that anyone could be a developer,I try not to watch them but the times I have there is always the "They paid 150k it cost 20k to get it up to scratch and now it is could be worth 200k,giving then a profit of 30k"No it doesn't as they never mention stamp duty, legal fees in and out plus agency fees to sell it oh and the all important mortgage fees that go out every month
swamp said:
Fortune favours the brave!
With all the other developers running scared maybe now is the time to spot a gap in the market somewhere.
Yes it is. We are currently buying up half finished developments which are cheaper than vacant land at the moment. With all the other developers running scared maybe now is the time to spot a gap in the market somewhere.
Edited by swamp on Sunday 15th March 23:49
Then re submitting to Council, getting approved as either Seniors Living or low cost housing and then selling it on to the Government as essentially the oz equivalent of Council housing. We got in first and although others are trying to get in we are still at the front of the pack
Bit of a change and much lower end than what we used to do, but we are actually making pretty serious cash out of it at the moment.
In my rich and varied working day, there is NOTHING more satisfying than those few moments spent walking around a fully restored property (which was previously a sad and neglected dungeon) before giving the keys to the letting agency who then proceed it down Dilapidation Road once again.....
IF you do this right (and newcomers DO sometimes turn out better end product than old hands) then, like anything else, you will succeed. Renovating property you intend to keep and let is currently simple to do. Renovating to sell is better (at the moment) done to order.
Don't listen to people who tell you it'll never work. But don't do it if you can't face the consequences of it NOT working.
IF you do this right (and newcomers DO sometimes turn out better end product than old hands) then, like anything else, you will succeed. Renovating property you intend to keep and let is currently simple to do. Renovating to sell is better (at the moment) done to order.
Don't listen to people who tell you it'll never work. But don't do it if you can't face the consequences of it NOT working.
Colonial said:
swamp said:
Fortune favours the brave!
With all the other developers running scared maybe now is the time to spot a gap in the market somewhere.
Yes it is. We are currently buying up half finished developments which are cheaper than vacant land at the moment. With all the other developers running scared maybe now is the time to spot a gap in the market somewhere.
Edited by swamp on Sunday 15th March 23:49
Then re submitting to Council, getting approved as either Seniors Living or low cost housing and then selling it on to the Government as essentially the oz equivalent of Council housing. We got in first and although others are trying to get in we are still at the front of the pack
Bit of a change and much lower end than what we used to do, but we are actually making pretty serious cash out of it at the moment.
Berserker LM said:
Colonial said:
swamp said:
Fortune favours the brave!
With all the other developers running scared maybe now is the time to spot a gap in the market somewhere.
Yes it is. We are currently buying up half finished developments which are cheaper than vacant land at the moment. With all the other developers running scared maybe now is the time to spot a gap in the market somewhere.
Edited by swamp on Sunday 15th March 23:49
Then re submitting to Council, getting approved as either Seniors Living or low cost housing and then selling it on to the Government as essentially the oz equivalent of Council housing. We got in first and although others are trying to get in we are still at the front of the pack
Bit of a change and much lower end than what we used to do, but we are actually making pretty serious cash out of it at the moment.
Berserker LM said:
Until your "low cost housing" folk wreck said properties.... Looked at that also before cutting losses. Wouldn't want your insurance premium, mate! Good luck to you though! (Rather you than me!)
Sorry - should have made that clear. The oz system works with the government agency owning the development and looking after all maintenance. What we do is source the property, relodge a DA, get approval for another form of development/change of use then sell it on to the agency in question. selmahoos said:
Berserker LM said:
Colonial said:
swamp said:
Fortune favours the brave!
With all the other developers running scared maybe now is the time to spot a gap in the market somewhere.
Yes it is. We are currently buying up half finished developments which are cheaper than vacant land at the moment. With all the other developers running scared maybe now is the time to spot a gap in the market somewhere.
Edited by swamp on Sunday 15th March 23:49
Then re submitting to Council, getting approved as either Seniors Living or low cost housing and then selling it on to the Government as essentially the oz equivalent of Council housing. We got in first and although others are trying to get in we are still at the front of the pack
Bit of a change and much lower end than what we used to do, but we are actually making pretty serious cash out of it at the moment.
It's not an easy thing to do if you don't have a reserve of funds to call on. I don't mean to put you off if you can see opportunities and want to have a go, but it's essentially a rich man's game.
Rich folks can afford to buy assets and sit on them if needs be till the market recovers and they can also absorb the occasional hit when things don't go quite as well as expected. If you are on the limit and trying to borrow all your working capital it can be a hairy struggle.
Some of it is just gambling on a rising market, and if you have money, and are in a rising market, it can be relatively easy. But when the market falls - and the development process is a long one and not easy to suddenly pull out of - a lot of people get cleaned out.
Rich folks can afford to buy assets and sit on them if needs be till the market recovers and they can also absorb the occasional hit when things don't go quite as well as expected. If you are on the limit and trying to borrow all your working capital it can be a hairy struggle.
Some of it is just gambling on a rising market, and if you have money, and are in a rising market, it can be relatively easy. But when the market falls - and the development process is a long one and not easy to suddenly pull out of - a lot of people get cleaned out.
Edited by cardigankid on Monday 16th March 08:52
selmahoos said:
You may also find it useful to set aside a darkened room in your house. On return from the standard 12 hour day it can be comforting to lie on the floor in said room adopting the foetal position, rocking gently backwards and forwards whilst crooning Ukrainian funeral poetry to yourself.
There are also some good days. Usually when the Council offices are shut.
Have a - and so true.There are also some good days. Usually when the Council offices are shut.
Colonial - I thought HA design requirements were such that most modern private developments weren't of sufficient standard or size?
loafer123 said:
selmahoos said:
You may also find it useful to set aside a darkened room in your house. On return from the standard 12 hour day it can be comforting to lie on the floor in said room adopting the foetal position, rocking gently backwards and forwards whilst crooning Ukrainian funeral poetry to yourself.
There are also some good days. Usually when the Council offices are shut.
Have a - and so true.There are also some good days. Usually when the Council offices are shut.
Colonial - I thought HA design requirements were such that most modern private developments weren't of sufficient standard or size?
Colonial said:
loafer123 said:
selmahoos said:
You may also find it useful to set aside a darkened room in your house. On return from the standard 12 hour day it can be comforting to lie on the floor in said room adopting the foetal position, rocking gently backwards and forwards whilst crooning Ukrainian funeral poetry to yourself.
There are also some good days. Usually when the Council offices are shut.
Have a - and so true.There are also some good days. Usually when the Council offices are shut.
Colonial - I thought HA design requirements were such that most modern private developments weren't of sufficient standard or size?
http://www.planning.nsw.gov.au/planningsystem/pdf/...
Quick note from the NSW department of planning if you are interested in any more info. It makes sense - mainly because public housing is a state government thing rather than local council I guess.
Quick note from the NSW department of planning if you are interested in any more info. It makes sense - mainly because public housing is a state government thing rather than local council I guess.
selmahoos said:
Berserker LM said:
Colonial said:
swamp said:
Fortune favours the brave!
With all the other developers running scared maybe now is the time to spot a gap in the market somewhere.
Yes it is. We are currently buying up half finished developments which are cheaper than vacant land at the moment. With all the other developers running scared maybe now is the time to spot a gap in the market somewhere.
Edited by swamp on Sunday 15th March 23:49
Then re submitting to Council, getting approved as either Seniors Living or low cost housing and then selling it on to the Government as essentially the oz equivalent of Council housing. We got in first and although others are trying to get in we are still at the front of the pack
Bit of a change and much lower end than what we used to do, but we are actually making pretty serious cash out of it at the moment.
Thanks
Edited by Dr_Gonzo on Monday 16th March 11:15
Hmmmmm, not a good idea just yet, but the time is coming where it will be a good idea, although, you will be up against the big boys soon, they are all preparing funds for resi projects projects.
I work currently in the commercial Property side, and currently it is not a nice place. No money, Developments folding, plans folding redundancies and severe lack of funding. The biggest funders of Commercial Property were RBS/Anglo Irish and HBOS. With them going down the pan, it leaves GE, Co-Op and Sanatander with the cash, but they are tentative. The need for housing is lower, lots of empty and reclaimed Property about, hell even the HSBC tower in Canary Wharf is a repo job and the big boys have rights issues.
The agents are laying off left right and centre, they all spent alot of money on Big acquisitions recently and are now paying for it.
It's not a nice place to be at the moment. But it will get better, it always does.
If your serious, start preparing, but don't jump in with both feet.
I work currently in the commercial Property side, and currently it is not a nice place. No money, Developments folding, plans folding redundancies and severe lack of funding. The biggest funders of Commercial Property were RBS/Anglo Irish and HBOS. With them going down the pan, it leaves GE, Co-Op and Sanatander with the cash, but they are tentative. The need for housing is lower, lots of empty and reclaimed Property about, hell even the HSBC tower in Canary Wharf is a repo job and the big boys have rights issues.
The agents are laying off left right and centre, they all spent alot of money on Big acquisitions recently and are now paying for it.
It's not a nice place to be at the moment. But it will get better, it always does.
If your serious, start preparing, but don't jump in with both feet.
how to rescue a house: i bought this as i was looking for a derelict property and needed to know how to go about purchasing, applying for grants etc.
http://www.amazon.co.uk/How-Rescue-House-Unloved-P...
the housebuilder's bible - bought because i wanted something with a UK focus showing the whole process from start to finish with cost estimations for each phase.
http://www.amazon.co.uk/Housebuilders-Bible-Inside...
tbh though, i haven't read either either other than the first day when they arrived from amazon.
as others have said, if you need books then its maybe not the time to be doing this as a full time career.
http://www.amazon.co.uk/How-Rescue-House-Unloved-P...
the housebuilder's bible - bought because i wanted something with a UK focus showing the whole process from start to finish with cost estimations for each phase.
http://www.amazon.co.uk/Housebuilders-Bible-Inside...
tbh though, i haven't read either either other than the first day when they arrived from amazon.
as others have said, if you need books then its maybe not the time to be doing this as a full time career.
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