Is there any money in refurbishing run down property now?
Discussion
I'm at a stage in my life where I could do without the public now. Twenty-five years of self employed bathroom refurbishing and people 'appear' to have lost all sense of the real world, becoming more and more demanding and it's doing my head in! That's without the inability of suppliers and manufacturers to get things right. It's all just getting too much.
I appreciate I'll never be able to see the back of all these problems as house refurbishment still needs suppliers etc. but the main difference would be not having to work to the client's schedule, taste, rules and so on.
I'd likely be a cash buyer and not have to borrow to see a project through, but after all the tax rules etc. is there any money left in the business now? It would be in the south east and I'd be happy if I cleared £40k per year.
I appreciate I'll never be able to see the back of all these problems as house refurbishment still needs suppliers etc. but the main difference would be not having to work to the client's schedule, taste, rules and so on.
I'd likely be a cash buyer and not have to borrow to see a project through, but after all the tax rules etc. is there any money left in the business now? It would be in the south east and I'd be happy if I cleared £40k per year.
I`ve completed on over 60 refurbishments over the years. As Khushy says, you have to buy right - as the saying goes, you make money when you Buy a property, not when you Sell it.
I live in the North West and the market is very bouyant here, so there are not as many deals out there as there normally is.
Most of the best deals I have sourced over the years have been generated by my own marketing, using either leaflets or press ads. You can get the odd one or two from the open market via estate agents, but be prepared to have other buyers bidding on the cheap ones too.
Don`t bother with auctions, especially up here. Some of the prices they go for now is crazy. I prefer to sell in an auction, than buy.
I live in the North West and the market is very bouyant here, so there are not as many deals out there as there normally is.
Most of the best deals I have sourced over the years have been generated by my own marketing, using either leaflets or press ads. You can get the odd one or two from the open market via estate agents, but be prepared to have other buyers bidding on the cheap ones too.
Don`t bother with auctions, especially up here. Some of the prices they go for now is crazy. I prefer to sell in an auction, than buy.
cerberaperv said:
Most of the best deals I have sourced over the years have been generated by my own marketing, using either leaflets or press ads. You can get the odd one or two from the open market via estate agents, but be prepared to have other buyers bidding on the cheap ones too.
Don`t bother with auctions, especially up here. Some of the prices they go for now is crazy. I prefer to sell in an auction, than buy.
This is good advice.Don`t bother with auctions, especially up here. Some of the prices they go for now is crazy. I prefer to sell in an auction, than buy.
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