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is there money

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  • is there money

    Hi, i am currently in the position to buy a property for about £80-£150 with the goal to eventually develop then sell. I would be buying in Edinburgh/scotland

    I am a plumber and gas engineer i also have very good contacts in the trade so can get cheap supplies and labour i can do most of the work myself.

    Is it still possible to make between £20-£30k on a property?

    Thanks

  • #2
    Re: is there money

    Hi

    I think it is possible to make around that figure, personally.

    No doubt you've read an awful lot of negative spin on house values, but next week they will be saying that they're going up. There are too many speculative articles around, so people just haven't a clue what's going on.

    As long as you get the property for a very good price and keep the development costs right down, I think you might be in with a chance. Looking for a profit of £20k-£30k does not seem unreasonable. Have you spoken to agents in the area? They should be able to give you an educated opinion on the local market.

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    • #3
      Re: is there money

      I would suspect buying is key, the right property in the right location at the right time. You could end up making a good deal more if you buy well, but I would suggest doing your research of the local market, are prices likely to rise or fall in the near future?
      Northern Ireland Property

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      • #4
        Re: is there money

        daveeg, would any work you do come with relevant certification for a buyer? Simply that I'm under the impression that these would need to be supplied.

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