Property Moguls
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 Lyons550  Shirley 02 Mar 15 3.15pm |
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Anyone on here with a property portfolio, or in the property development game? I'm about to start myself and wondered if there was anyopne on here with experience in both fields (i.e that have more than one properties with tennants, or that buys, rennovates and moves on). If so, what are the top 3 tips you'd give to anyone about to enter the fray....whilst i'd appreciate comments from anyone it'd be more meanigful if it simply wasnt someone who's been watching Homes Under The Hammer moere than once but someone who is actually doing this. Ta
The Voice of Reason In An Otherwise Mediocre World |
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| TUX redhill 02 Mar 15 6.31pm |
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Buy and develop (to whatever extent) and then move on would be my advice.
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Kermit8  Hevon 02 Mar 15 6.34pm |
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I've been researching Sarah Beeny's double dormers very closely for years now if that helps.
Big chest and massive boobs |
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| johnfirewall 02 Mar 15 6.45pm |
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Mugs game. Why actually develop anything? Buy some damp sh1thole and rent it to students or the council.
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| TUX redhill 02 Mar 15 6.53pm |
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Quote johnfirewall at 02 Mar 2015 6.45pm
Mugs game. Why actually develop anything? Buy some damp sh1thole and rent it to students or the council. Can that make you up to 30k in 3months? Unlikely.
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| johnfirewall 02 Mar 15 7.13pm |
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Quote TUX at 02 Mar 2015 6.53pm
Quote johnfirewall at 02 Mar 2015 6.45pm
Mugs game. Why actually develop anything? Buy some damp sh1thole and rent it to students or the council. Can that make you up to 30k in 3months? Unlikely. Depends how many properties you have, which will generally be greater as you're not relying on builders for a return on your investment.
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| TUX redhill 02 Mar 15 7.30pm |
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Quote johnfirewall at 02 Mar 2015 7.13pm
Quote TUX at 02 Mar 2015 6.53pm
Quote johnfirewall at 02 Mar 2015 6.45pm
Mugs game. Why actually develop anything? Buy some damp sh1thole and rent it to students or the council. Can that make you up to 30k in 3months? Unlikely. Depends how many properties you have, which will generally be greater as you're not relying on builders for a return on your investment. You only need one.
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| suttonEagle2010 Shirley 02 Mar 15 8.13pm |
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It all depends on whether you want to make lots of money in one go or earn a lesser amount over a long period. I know someone who gets around 15k a month in rent, minus various management fees, repairs etc. But he has about 50 flats in and around London. Myself and my business partner are about to make 70k-80k on a big old 2 bed flat bought at auction back in December. Not bad going for about 8 weeks work. The big bit of advice i would give is to do as much of the work yourself where possible. Myself and the guys i work with do everything ourselves which obviously saves a fair bit of money. Also, never become emotionally attached to a property. May sound strange but if you do, you will end up pouring all your time and money into it and suddenly realise you've gone 20k over budget and thats your profit gone!
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| TUX redhill 02 Mar 15 8.25pm |
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Quote suttonEagle2010 at 02 Mar 2015 8.13pm
It all depends on whether you want to make lots of money in one go or earn a lesser amount over a long period. I know someone who gets around 15k a month in rent, minus various management fees, repairs etc. But he has about 50 flats in and around London. Myself and my business partner are about to make 70k-80k on a big old 2 bed flat bought at auction back in December. Not bad going for about 8 weeks work. The big bit of advice i would give is to do as much of the work yourself where possible. Myself and the guys i work with do everything ourselves which obviously saves a fair bit of money. Also, never become emotionally attached to a property. May sound strange but if you do, you will end up pouring all your time and money into it and suddenly realise you've gone 20k over budget and thats your profit gone! @'johnfirewall' Are you listening?
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| johnfirewall 02 Mar 15 8.50pm |
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Still sounds like hard work.
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| TUX redhill 02 Mar 15 9.08pm |
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Quote johnfirewall at 02 Mar 2015 8.50pm
Still sounds like hard work. A profit of anywhere between 30-80k in a few months for doing little sounds like hard work?
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| 7mins In the bush 03 Mar 15 1.15am |
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I buy run down property, live in it while I do it up, then sell. Cons... I have worked my nuts off, my back is f***ed. 2 relationships have failed and a few friends have disappeared due to me working 7 days a week for 47-50 weeks of the yr.
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