Property developers
Discussion
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So far you have asked: who is the richest in Yorkshire, who owns a Bentley, and now you're after how to make money in property.
Are you actually interested in performance cars for their own sake, no matter what their worth, or is it just the flash side of it?
So far you have asked: who is the richest in Yorkshire, who owns a Bentley, and now you're after how to make money in property.
Are you actually interested in performance cars for their own sake, no matter what their worth, or is it just the flash side of it?
However, in the spirit of the festive season ... my humble and by no means expert advice would be to start small on re-developing ... even buying and completely demolishing then re-building on the land if you have enough funds.
It is the land that is a) expensive and b) like rocking horse doodah. First bags on land always goes to the known developers as they have the relationships with the agents and usually the ready funds to do a quick deal.
I am kicking myself ... I walked past a semi just on the outskirts of town a month or so ago and thought it would be ripe for refurbishing. Lots of original features and more importantly, a huge garden. It was really run down and I thought I should try and find out who owned it ... mentioned it to Vic the other day and she said "oh yes, I've seen it" ... odd for her to have noticed it thinks I, then went past it yesterday and there's a bloody great "SOLD" sign outside
So more advice ... if you see something, move fast!
It is the land that is a) expensive and b) like rocking horse doodah. First bags on land always goes to the known developers as they have the relationships with the agents and usually the ready funds to do a quick deal.
I am kicking myself ... I walked past a semi just on the outskirts of town a month or so ago and thought it would be ripe for refurbishing. Lots of original features and more importantly, a huge garden. It was really run down and I thought I should try and find out who owned it ... mentioned it to Vic the other day and she said "oh yes, I've seen it" ... odd for her to have noticed it thinks I, then went past it yesterday and there's a bloody great "SOLD" sign outside
So more advice ... if you see something, move fast!
killah said:
Are there any Property developers on here its something i am thinking of getting into, if so can you advice me which is more profitable actual developing or starting from scratch and building new homes.
Thank you
if you're asking questions like this my advice would be think of something else to doThank you
sorry
killah said:
Are there any Property developers on here its something i am thinking of getting into, if so can you advice me which is more profitable actual developing or starting from scratch and building new homes.
Not a developer, sorry.I can't think of a worse sector to get into right now than property developing. Perhaps swimming-pool refurbishment has less of a future right now, but it would be tight.
Sorry to be glum, but you do know that property is going to be flat for, at best, 2-4 years...?
Flat for 4 years eh ? A lot of the people I know (developers themselves) ain't hugely concerned & neither am I. I'm pretty confidents that in the long term property only goes one way (as history has shown for decades).
Just because property prices are calming down doesn't mean developing stops. Maybe it means you just have to be a little more picky about the developments you decide to take on.
Still, each to thier. Some risk more than others.
Just because property prices are calming down doesn't mean developing stops. Maybe it means you just have to be a little more picky about the developments you decide to take on.
Still, each to thier. Some risk more than others.
Don't build from scratch. If you build in "town" area's 40% must be affordable, or if you build in a "village" area, 50% has to be affordable ie £65,000 sell price!!
Redevelop is the best route at mo.Buy a large hotel, and convert to flats.Seems to be the way forward at the moment. Also, property might slump short term, but it always doubles every 10yrs.Make sure you are in it for the long term.
Otherwise, stay away.
Redevelop is the best route at mo.Buy a large hotel, and convert to flats.Seems to be the way forward at the moment. Also, property might slump short term, but it always doubles every 10yrs.Make sure you are in it for the long term.
Otherwise, stay away.
What you've got to think of is, if you put money in the bank, you can't use that as collateral (I'll spell check that tomorrow when I'm sober) to borrow more money to put in the bank, whereas with property............
You need to think of risk. As a rule of thumb, if there's no risk involved, there's no money in it.
Can't beleive I'm answering a thread started by Killah, who seems to be shooting from the hip a bit but the replies have been more sensible than the OP.
You need to think of risk. As a rule of thumb, if there's no risk involved, there's no money in it.
Can't beleive I'm answering a thread started by Killah, who seems to be shooting from the hip a bit but the replies have been more sensible than the OP.
blackcab said:
did you get my email re karting Dave ?
I did.Sorry for not responding but the answer is a definate maybe as I absolutely cannot commit at the moment. If I'm free on 28th and it's on, I'll come and show you how to carry on but I'm scheduling moving our offices for the Christmas period so if all goes well in the next couple of weeks I should be lugging desks and computers about.
Sorry I can't be more positive but at the moment I'm a habger on.
Next Tuesday meet, should be in something exotic! Transit, Astra with no heater??????
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