Tired of Business, Full Time Property Developing?
Discussion
After 5 years of running a construction company, at one point employing 30+, and now employing 12, Im completely tired and fed up with the stress it puts on my life and time it takes up. Im tired employing people, I don't like my business model,it wont scale the way I first thought, I need something new. I make relatively good money and have a nice lifestyle, but the trade off for that is becoming too demanding now that I have young kids.
I have 100k to spare between me and my old man, and another 150k in equity in my own house. I have connections in every trade required, not to mention being a dab hand at most trades myself (Spark to trade) and I have access to suppliers at decent rates.
My Question is, Is it still feasible to make a good living from flipping properties? It seems everyone is in to it now.
I do work for various "Property Developers" who all seem to make money, yet all seem to be completely clueless in their approach to renovating houses.
Appreciate any tips, or feedback from anyone involved in property.
Based in the north where 100k will buy a run down 3 bed semi.
I have 100k to spare between me and my old man, and another 150k in equity in my own house. I have connections in every trade required, not to mention being a dab hand at most trades myself (Spark to trade) and I have access to suppliers at decent rates.
My Question is, Is it still feasible to make a good living from flipping properties? It seems everyone is in to it now.
I do work for various "Property Developers" who all seem to make money, yet all seem to be completely clueless in their approach to renovating houses.
Appreciate any tips, or feedback from anyone involved in property.
Based in the north where 100k will buy a run down 3 bed semi.
sorry guys still here and reading through all the info...
We have actioned things, We have just about sold the property to free up the capital.
Im hoping around 6-8 weeks Ill be actively in the market for something. My thinking is we buy something to flip around 50k an also another small property at 25k to begin the rental thing.
Running the business along side this is ideal, we have access to wholesalers/manufacturers rates, and we have a workforce already employed who can assist with the renovations. I also have a small office team who could in effect manage the properties.
I think my biggest worry at the moment is the completion, there seems to be a lot of folk in our area trying to do the same. I currently do a lot of work for "Property Developers" who basically do it part time. They still make money it seems, despite holding down full time jobs, and not having half the knowledge or resource I do.
We have actioned things, We have just about sold the property to free up the capital.
Im hoping around 6-8 weeks Ill be actively in the market for something. My thinking is we buy something to flip around 50k an also another small property at 25k to begin the rental thing.
Running the business along side this is ideal, we have access to wholesalers/manufacturers rates, and we have a workforce already employed who can assist with the renovations. I also have a small office team who could in effect manage the properties.
I think my biggest worry at the moment is the completion, there seems to be a lot of folk in our area trying to do the same. I currently do a lot of work for "Property Developers" who basically do it part time. They still make money it seems, despite holding down full time jobs, and not having half the knowledge or resource I do.
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