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can anyone help me please.

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  • can anyone help me please.

    I want to do property developing and need some advice. I am living in the south east, I have done a few properties in the past and want to do property on a small scale doing all the work myself as I have the skills. I would like to buy property under 175000 pounds sell and buy another one and so on. 1. Is anyone making money this way in todays market? 2. I am finding it hard to get in with estate agents as I am only small scale 3. Estate agents price property here only 10 to15000 lower for a run down property to one in top condition 4. Is the only way to buy to put in low offers in and hope for the best. 6 if anyone can help in any way with advice I would very grateful. I have money in place and everything else in place, its just the buying and selling I am having problems with. Thanks to anyone who can help in advance .Alan
    Last edited by alan jones; 04-10-2008, 11:28 AM.

  • #2
    I want to do property developing and need some advice. I am living in the south east, I have done a few properties in the past and want to do property on a small scale doing all the work myself as I have the skills. I would like to buy property under 175000 pounds sell and buy another one and so on. 1. Is anyone making money this way in todays market? 2. I am finding it hard to get in with estate agents as I am only small scale. 3. Estate agents price property here only 10 to15000 lower for a run down property to one in top condition 4. Is the only way to buy to put in low offers? If anyoun has any advice I would very grateful. I have money in place and everything else in place, its just the buying and selling I am having problems with. Thanks to anyone who can help in advance .Alan

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    • #3
      What do you mean by "get in with estate agents" ?

      Does this mean "form a relationship/friendship with them, in order that they'll offer you properties at even further discounts below the 10 to 15,000 that they normally reduce the run-down ones by..." ?

      Or do you mean something else?

      Point 4: If you want to get them below the asking price, put an offer in. If that's rejected, put another one in a bit higher. If that's rejected, repeat this process until either you reach the upper limit of what you're willing to pay, or the sellers accept your offer ,or you get bored. You know (I hope) how much you're going to spend on the development, and how much you think you can sell the property for once it's developed. The second price, less the dev cost, and your profit margin, gives you the upper limit of what you want to spend, I would suggest..... Sarah Beeny 101 ?

      Put yourself in the sellers' shoes; they have the price they want (up here) and you have the price you want to pay (down there) - somewhere in the middle, you may be able to strike a deal. If you don't strike a deal on the first one, move on and find another.

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      • #4
        developing

        What I mean is, the estate agents deal with property developers all the time and how do you get them to pass the deals on to you before they get on to the market, It seems to me that they pass all the good ones on to their preferred property developers before they get to go onto the market, so my question is, how do I get to be one of those preferred developers, I am a cash buyer, does that count for anything?
        Do you think I should buy through estate agents or go to auction, at a much bigger risk I feel, thanks very much for your prompt reply, alan

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        • #5
          At the moment some developers are buying bargains, not renovating them and instead flicking them on for 5 - 10k more. However you would need to be very cosy with a estate agent to get deals like this one.

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          • #6
            To be able to make a quick buck, you need to do exactly that, source properties that you can find a buyer for, for example, a friend of mine found a block of flats, similar to what a developer round here wanted, instead of buying and selling, he got a VERY healthy commission

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