Setting up property development/construction business

[cowboyengineer]

So a quick history:

I graduated as a civil engineer, worked on major projects as a site engineer, now a pm, a couple of years ago I set up a labour supply business which hopefully int he next couple of months will have the cash flow to fund a property development business.

So, in the next year I plan to start investing in property commercial or residential I've not decided, and I've not decided if I want to start from land up, or buy existing property and convert.

I'm currently in the research phase, but there are so many resources/courses/guides I have no idea where to start my research.

I feel these property seminars are just a selling tool for even more expensive courses, I don't mind doing or paying for courses if there are ones that are recommended, and I am aware that there is nothing that substitutes experience. But I don't want to go in blind.

So what learning / information resources do people recommend.

[malks222]

I'm not trying to put you off expanding and you probably have all these items ticked off, so sorry if this all sounds patronising, but......

you've recently started a 'labour only supply' business? what sort of reserves do you have for this business? have you had any suppliers default or pay late? Do you have income/ turnover insurance? have you hit your first VAT quarter and paid this yet? holding plenty cash reserves for corporation tax bill?

ok so you have all that sorted and are in a good place. have you spoken to your accountant if you can run both a labour agency and construction/ property development business through the same limited company? you may find that you need a second business for the construction/ property side.

what sort of cash do you have available for construction/ property development? what are you wanting to do in construction/ property:

- buy/ do-up/ sell domestic houses?
- buy land (with/ without planning)/ build houses/ sell?
- buy large property/ carve up into smaller property/ sell
- buy property/ do up/ let out?
- buy commercial property/ let out commercial property?
- buy land/ build commercial property/ sell or rent commercial property?

you also say commercial- but are we talking small shop units on a high street? small industrial unit/ lock ups?

how are you looking to fund any development projects? cash or do you need to borrow? have you spoken to an accountant about tax or these projects? do you need to be VAT registered? do you need to charge VAT/ can VAT be reclaimed? Although you may have a good background in the 'construction'/ PM/ engineering side of things, do you have any experience of contracts/ commercials?

sorry its a bit of a rambling post, but i think you need to know what direction you are heading in before you can do research into whether its viable!