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Property Moguls

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View Lyons550's Profile Lyons550 Flag Shirley 02 Mar 15 3.15pm Send a Private Message to Lyons550 Add Lyons550 as a friend

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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View TUX's Profile TUX Flag redhill 02 Mar 15 6.31pm Send a Private Message to TUX Add TUX as a friend

Buy and develop (to whatever extent) and then move on would be my advice.



 

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View Kermit8's Profile Kermit8 Flag Hevon 02 Mar 15 6.34pm Send a Private Message to Kermit8 Add Kermit8 as a friend

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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View johnfirewall's Profile johnfirewall Flag 02 Mar 15 6.45pm Send a Private Message to johnfirewall Add johnfirewall as a friend

Mugs game. Why actually develop anything? Buy some damp sh1thole and rent it to students or the council.

 

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View TUX's Profile TUX Flag redhill 02 Mar 15 6.53pm Send a Private Message to TUX Add TUX as a friend

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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View johnfirewall's Profile johnfirewall Flag 02 Mar 15 7.13pm Send a Private Message to johnfirewall Add johnfirewall as a friend

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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View TUX's Profile TUX Flag redhill 02 Mar 15 7.30pm Send a Private Message to TUX Add TUX as a friend

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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View suttonEagle2010's Profile suttonEagle2010 Flag Shirley 02 Mar 15 8.13pm Send a Private Message to suttonEagle2010 Add suttonEagle2010 as a friend

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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View TUX's Profile TUX Flag redhill 02 Mar 15 8.25pm Send a Private Message to TUX Add TUX as a friend

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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View johnfirewall's Profile johnfirewall Flag 02 Mar 15 8.50pm Send a Private Message to johnfirewall Add johnfirewall as a friend

Still sounds like hard work.

 

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View TUX's Profile TUX Flag redhill 02 Mar 15 9.08pm Send a Private Message to TUX Add TUX as a friend

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?
How rich are you!


 

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View 7mins's Profile 7mins Flag In the bush 03 Mar 15 1.15am Send a Private Message to 7mins Add 7mins as a friend

I buy run down property, live in it while I do it up, then sell.
Did 3 last yr whilst holding down a full time job.
Pros... my best yr I earned about 160k Worst yr 92k

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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